The implications of AI for the very real world of HR and talent acquisition
Implementing digital transformation across HR and talent acquisition environments is crucial for enterprises to stay relevant. HR strategy is an indisputable source of competitive advantage for every business and the technological advances in this domain give rise to a host of complex challenges.
AI technology can distinguish between those individuals who are a good fit for a given job opening, those who are less relevant and those who have a high potential and should be contacted regardless of their immediate job and skills fit. AI can do this at scale, speed and accuracy that cannot, and does not need to, be matched by a human.
High-level and cold-blooded introduction aside, I would like to focus on the implications of AI for the very real world of HR and talent acquisition professionals.
With a tremendous amount of time invested by the jobseekers into the job search, it would only be fair for the hiring process to be at its best, both from human and technological perspectives. Looking for a job is a daunting experience, we all know it. Only 10% of applications get some kind of response, and I am, just like you, surprised that it has to be the case in 2017.
Many industry leading organizations have been successful in recent years at starting to treat the jobseekers as their customers. We are only scratching the surface here, but it’s encouraging to see the shift in perception and investment. The efforts of the HR teams worldwide have been directed towards to cultivating the employer brand, through content about the job application process, culture, perks and benefits, career progression, and, more recently, deployment of recruiting marketing solutions and chatbots.
There is one element of the career pages that throughout the recent years has remained intact, and it is arguably the single most important element of each career page — the job search itself. This should not come as a surprise though, as in order to make the necessary level of impact here, technological advances in machine learning and AI had to crystalize.
The job search no longer needs to be limited to the keyword search and filters such as location and function. Instead, we can now enhance the candidates’ hiring journey by simplifying the application process, making it quicker, more engaging and instantly satisfying. AI empowers the jobseekers to apply with one-click to jobs that they are relevant for them, or to explore how their skills match what is required by a pool of organizations, and what other jobs might be relevant across the regions, functions and teams.
Engaging and Re-engaging with Talent
The traditional approach to creating alerts following the registration is, like the job search, based on keyword and filters. While useful, it also lacks the additional value that AI can bring when an entirely new level of relevance and accuracy is delivered to an individual’s mailbox.
Job alerts are still some of the most effective ways to engage and re-engage with past applicants, they also have some of the highest conversion rates, and remain one of the key sources of hires.
Real-time and unique to the individual, is what they can be today.
Talent Acquisition Teams
Applied at the very start of talent acquisition pipeline, AI enables the recruiters, sourcers and hiring managers to spend more time talking to the right people. Engaging in automated and meaningful communication with the rest of the talent pool, recruiters can focus on discovering more about those who are a good match or a high potential individual.
The matching algorithms produce an absolute match between the job requirements and each incoming resume, leaving no applicant without a response, and no room for a relevant person to fall out of the pipeline.
According to the 2017 Deloitte Global Human Capital Trends report, “a new breed of cognitive technologies is radically transforming recruiting” and we stand on the verge of some major changes. The talent aquisition as we know it is being revolutionaized, with new rules being written for the personalised approach to every individual, real-time feedback and accuracy.