The past few years have created enormous challenges for businesses across the country. As the Covid-19 pandemic emerged in early 2020, many companies were forced to downsize or shut down altogether, causing a massive surge in unemployment. By April 2020, job losses reached over 23 million for the first time since the Great Depression. The resulting fallout left many businesses understaffed as many employees either quit, retired, or chose to look for employment elsewhere.
In the years since the start of the pandemic, job numbers have improved significantly. Although the number of job openings in the U.S. rose steadily until March of 2022, the past several months have seen a sharp decline in available employment positions, potentially signaling a positive shift in the American job market as more and more people are deciding to return to work.
For many businesses, the sudden need to fill numerous positions at once can be overwhelming, time-consuming, and inefficient without the help of technology. Luckily, the rise of data-driven recruitment strategies provides reliable methods for overcoming these problems. Read on to learn more about how AI can improve recruiting processes for companies today and why it’s so important.
Why Use AI in Recruiting?
AI-powered recruiting software offers several advantages to businesses seeking to improve hiring processes. After all, without the assistance of artificial intelligence, the task of sourcing, interviewing, and selecting candidates at scale can quickly become a major difficulty, especially when a high volume of qualified workers is needed immediately. Here are just a few ways that AI can improve the recruiting process.
AI algorithms can effectively do the legwork of an entire HR department by automating many of the tasks that were once done manually. This essentially allows a company to reallocate precious human resources to other critical aspects of the business like managing payroll, time-tracking, and new hire onboarding. In addition, since AI recruiting is more accurate and reliable than human selection, businesses can expect to spend less money on turnover costs like new hire training and constantly interviewing replacement applicants.
Reduces Human Error
With artificial intelligence, there’s never any concern about oversights or clerical errors that can bog down recruitment cycles. Instead, AI recruiting software follows a strict set of rules to identify the best possible candidates for a given position. This essentially translates to fewer underqualified applicants slipping through the cracks and a more robust, experienced workforce across all departments.
Broadens Your Talent Pool
Recruiting technology augmented by artificial intelligence can rapidly aggregate massive amounts of online data to create an expansive, ready-made talent pool populated by the best candidates available. AI-powered recruiting software does this by scouring resumes, LinkedIn profiles, and other online data for preset key phrases or skillsets that match a company’s preferred criteria. In this way, AI can provide businesses with a steady supply of experienced professionals to fill virtually any position, no matter how specialized.
How AI Can Enhance High-Volume Recruitment
Sourcing and hiring dozens of workers at a time is often a time-consuming and difficult process. Luckily, it’s easy for businesses to take their recruiting efforts to the next level with the support of AI. Here are some of the most important ways artificial intelligence can supercharge employee recruitment.
Minimize or Eliminate Unconscious Bias
Human beings have a tendency to form biases, but when it comes to recruiting, any form of prejudice can undermine the whole process and potentially lead to some quality candidates being overlooked. Some recruiters may also hold an unconscious bias against candidates based on ethnicity, age, religion, or gender. Artificial intelligence corrects this problem with high-volume recruitment by simply filtering candidates who meet the desired criteria, taking any judgment or preconceived notions out of the equation. This essentially results in a more diverse and equitable workplace for everyone.
Improve Speed and Accuracy of Candidate Screening
AI can help to automate much of the candidate screening process so you can devote more of your human resources to interviewing and onboarding only the most qualified individuals. Meanwhile, since AI screening parameters are fixed beforehand, there are fewer chances of oversights or errors that result in a bad hire, saving you money on turnover and constantly needing to find new workers.
Easily Identify and Engage Passive Candidates
It’s important to remember that just because an individual is already employed doesn’t mean they aren’t looking for new opportunities. AI is excellent at scouring online data to find and connect with passive candidates around the world who possess the right skills for an open position. With more qualified passive candidates in the talent pool, it’s much easier to overcome sudden labor shortages or fill key operational roles in a fraction of the time.
Automate Interview Scheduling with Chatbots
The AI chatbot is a relatively new website feature that provides visitors with insightful knowledge base information and answers to frequently asked questions. However, it’s also possible to use AI chatbots to generate recruitment leads with potential candidates or even automatically set up interviews with prospective employees. In this way, artificial intelligence can drastically reduce the labor commitment needed to attract a high volume of employees over a short time frame.
The traditional hiring process can be clunky and drawn out, especially when attempting to process numerous candidates at once. AI helps to speed things along by quickly identifying the best candidates out of hundreds of resumes from around the globe, allowing HR personnel to focus entirely on finalizing paperwork for confirmed new hires so they can get to work faster. In high-volume recruiting situations, AI can potentially cut time-to-hire expectations in half, ensuring there’s always enough staff to keep operations running smoothly.
Businesses that utilize AI in their recruiting endeavors can gain a competitive edge in attracting and retaining top-tier talent. At Oleeo, we provide sophisticated AI-powered recruiting software that optimizes every aspect of the hiring process. Our entirely customizable software will automatically identify and engage the candidates you need by actively searching social media pages and public resumes for the best matches available. To learn more about how Oleeo can transform high-volume business recruitment, visit us online to get started.