According to the Harvard Business Review (HBR), about 44% of businesses are incorporating artificial intelligence (AI) into IT functions, and a further 19% use it to anticipate their customers’ future purchases and present relevant offers.
Companies are beginning to see the benefits of adopting AI in recruitment, with 96% of senior HR professionals believing that AI has the potential to greatly enhance talent acquisition and retention. Here’s why.
1. AI helps predict employee success
Bringing the right people on board is crucial for long-term business success. Employees are your company’s most important asset, so having the right talent acquisition strategy will give you the foundation for sustained success.
Co-founder and CEO of AI firm Skymind Chris Nicholson told CIO, “The question everyone’s trying to answer through all the interviews, screenings, tech and coding challenges, is, ‘How can I predict someone’s performance?’”.
AI has the ability to establish what a successful employee in your company has done and look for candidates with backgrounds and capabilities that match up to those workers. It can identify certain qualifications, educational history, work experience and other factors that suggest a candidate has the background to emulate the top performers at your organisation.
Explaining the importance of AI in talent acquisition, Nicholson said, “The smartest recruiters and hiring managers would start gathering resumes, performance reviews, work products, any information at all about highly successful people that already work for them and plug that into an algorithm to figure out what they are looking for. The system can then help shortlist and point them to the right candidates accordingly.”
2. AI boosts candidate engagement and performance
AI in recruitment can significantly improve candidate engagement through improved communication between candidates and employers. According to HireVue, the market leader in video interviewing and AI-driven video and game-based assessments, its system has increased the quality of hires by up to 88% and new-hire diversity by 55%.
Analytics allows HR managers to easily identify activities that can have maximum impact on an employee’s performance. The organisation can then direct their effort to the initiatives attracting maximum engagement. They can also predict red flags, such as whether underperforming employees are likely to perform better or worse in the future. The managers can use the information they’ve gathered to improve the performance of their employees strategically.
3. AI makes onboarding easier
AI also has a role to play in onboarding newcomers. This is particularly relevant when providing new hires with the information they need to make their working lives more accessible in a remote working setting.
These systems can serve as a resource for new employees to turn to whenever they have questions. Should they have queries on how to sign up for health insurance or where the conference room is, they just have to turn to the intelligent automated system to get an immediate answer instead of going to HR or their colleagues. These AI tools provide a central point to access the kind of information every employee requires, which minimises confusion and helps workers feel less overwhelmed.
AI developer Talla explained the benefits of incorporating AI in the onboarding stage of the talent acquisition process: “An organisation needs to provide tools that support new hires throughout the onboarding process. This lets hiring managers free up time for connecting with a new hire in more meaningful ways”.
The main benefit of AI in recruitment is that it will significantly save your HR’s time. These hours can then be spent on solving more complicated issues that require a human’s creativity and, often, emotions – traits AI can’t copy just yet.
This article is contributed by Randstad Singapore.
