Humans, Jobs, Recruitment : AI
Pacing Technology : Opportunities & Challenges
Fifth generation of computing has started. The world is seeing machines responding with developed intelligence, busy in transforming the way business works. By digitising, many companies see AI as an essential tool to remain competitive in the market. People across business domains are accepting AI world wide to find effective solutions for underlying problems and challenges.
One of the biggest fear about increasing automation is the threat to existing jobs in the current Market.
“ Within just 20 years, many current jobs will be replaced by software automation. While many manufacturing and processing roles — especially in dangerous or highly specialized environments — are already filled by robotic workers, other areas will soon be affected.”
— Bill Gates
There has been incredible growth in the space of Automation technology, AI and computation. It is opening up new and advanced roles for people who explore this space. Following picture explains how new technologies are creating new opportunities and challenges for humans.
These aspects posses great challenges for job seekers to choose & build their career path among various technology domains and their current ambitions might not be relevant in the near future.
“ 65 % of children today will end up in jobs that are yet to be created ”
— MYOB report
Recruiters are facing difficulty to hire candidates for upcoming new technologies.
Recruiters play great role in finding,
- Jobs from employers
- Candidates for the jobs
- Jobs for the candidates.
Some of the challenges that recruiting industry faces are:
- Searching & sourcing candidates for jobs, and ensuring right job for the right person.
- Increasing hiring time due to low response rates from candidates, in other words failing to know the interests of candidates.
- Creating context and terminologies for TA(Talent acquisition) around new tech jobs coming to the market to make their first conversion intuitive.
How can AI help?
With the help of Automation, providing personalised candidate experience and targeting the right market.
Automation
- Target, Match & Rank
People are still using traditional methods for sourcing candidates by collecting their resumes from job portals, or through agencies and manually matching it to job description. Recruiters must also ensure that they assign right candidates to the right job. There exists a high resource allocation time & cost here. Another factor to consider here is the high dependency and low ROI from job portals.
It’s a known fact that quality and the number of people hired in the end of process directly depend on the ability to target and engage the right crowd during the process initiation.
Data of the candidates from different technical and social platforms could be analysed to meet the exact job demands. AI technologies make use of available data and candidate’s profile to automatically match them against jobs, thus coming up with results with no discrimination & actually save lot of time for the recruiters.
- Context around Jobs
TA are facing challenges being aware of new technologies in the market. TA needs to have sufficient context around jobs and be precise while talking to candidates, which can directly affect response rate of candidates to turn up for the next level of discussions.
AI can do this job for TA by making them available with much more context around skills set, provide automatically generated sets of questions to make their initial interaction more intuitive and relevant.
- Commencement of hiring
When should i start hiring for my ‘xyz’ requirement?
If staffing or recruiting firms know the answer to this question, they could make it easy to target leads and know the exact potential of what they can do, and accordingly lay down their hiring strategies.
Hiring time depends on a lot of factors including positions opened, candidate’s availability in particular technology, candidate’s response time, rate at which interviews can happen, interview’s success rate, offer acceptance rate and actual conversion rate. AI engine based on all of these factors can help a company to know when they should start to work on a particular requirement to make best use of their resources.
Personalised Candidate experience
It is crucial to catch attention of a candidate towards joining a particular organisation.
In this candidate-driven recruitment market, selling a job is more like selling a product to the customer. To sell the job the right way, TA should understand the job role from the candidate’s perspective and should be able to make it more personalised and relevant for them. TA usually lack context of new technologies and can be irrelevant while talking to candidates. Surveys consistently show that, while majority of candidates prefer being contacted via email, some prefer receiving phone calls over text messages. There are a large set of candidates who like effective communication; to keep them informed with interview schedules and related information. While doing this, personalised experience for candidates can increase their chance to understand the opportunity clearly and respond accordingly.
AI can make use of candidate’s data available through different platforms & recommend personalised mails or job descriptions to present it to the candidate, which will give candidates a clear idea for, “what is there for them” in this job.
Target Market
Staffing needs of various companies around the world can be known by analysing job feeds, which can be used to gain competitive advantage, crack possible leads in the market and increase company revenue.
For recruitment agencies, AI can help grab market opportunities by analysing different requirement types and compare it with your team strength. It can give great insight into the recruitment activities of customers and competitors.
“AI is helpful in creating and channelising jobs by harnessing market need in the era of continuously upgrading technologies. Also helping candidates in building great career paths where lot of new opportunities are open for them”
