Employees are now ready to take on advanced machine learning and use it in their everyday life. Who knows, perhaps this is the year you decide to implement AI into your workflow. With this in mind, let’s better understand how AI is of value to you in HR and how you can use it to your benefit.
What is it? Well, predictive analytics is the use of historical data to make future predictions. It sounds rather superstitious, but it’s the exact opposite. It’s science! Take all the data you have from previous hires, add the outcome, e.g., which role the person ended up getting and how long she stayed at the company, use it to train an AI, and receive predictions for future hires. Of course, this is oversimplified, but by and large, that is how it works. Let’s look at an example. You’re hiring a lead designer for a big corporation, and the applications are flooding in. You use predictive analytics to decipher which of the candidates you should move forward with. Based on attrition, performance, and employee engagement, the predictive algorithm models can tell you who is the most suitable candidate.
Another usage of PA is to predict and prevent employee turnover in-house. The predictive algorithms use metrics such as performance, engagement, and productivity to calculate if an employee is in it for the long run or not. It also calculates how much a potential resignation would cost the company. By knowing this, you on your side can work with preventive methods, such as taking measures that will, hopefully, make the employee feel less prone to jump ship.
From Entelo’s 2020 recruiting trend report, only 58% of the respondents claim they measure candidate experience. Simultaneously, 47% of respondents stated that their biggest challenge was communicating with the candidates throughout the hiring process. This is troublesome since research shows that two emails are all it takes to engage passive candidates and get them back aboard. If you feel like you don’t have time to engage with candidates, passive or active, as much as you’d like, you should definitely consider using AI tools to mitigate your workload.
Something as “simple” as implementing an AI chatbot could change your life at work for the better. The goal of the chatbot is to relieve you from responding to thousands of emails from potential hires. The questions could be about salary, benefits, if dogs are allowed at the office or anything else related to the job. Why does this help? Step into the shoes of the candidate. If this person has to wait three days to get a response from you, then chances are the candidate loses interest since you yourself don’t seem to be especially interested. As an example, L’Oreal implemented a conversational chatbot and used it to communicate with interns. It achieved a near 100% satisfaction rate from the candidates. This means that not one single applicant was left in oblivion. All of them were heard and seen, and what L’Oreal got in return was a great reputation from the future workforce.
See the AI chatbot as your assistant. It takes care of all the tasks you don’t actually have time for but, at the same time, is extremely important for relationship building.
Over 70% of the global workforce comprises passive talent, those who are not actively searching for jobs. Simultaneously, 87% of both active and passive candidates are open to new job opportunities. Let’s go out on a limb here and assume that you don’t have time to go through your ATS and dig up passive candidates from ten years back. That’s okay because, luckily, you can have an AI do that for you. The AI can highlight candidates who are passive but also eligible for a current job. Not only does this result in you building stronger relationships with candidates you had forgotten about, but it also makes your sourcing more efficient since you don’t have to search wide and far for new candidates. Even though the passive candidates haven’t even thought about quitting their current jobs, sometimes, all it takes is a small external push to make a change.
Yes, good question. If you’ve reached this far in the article and you’re confused about what AI is and what it does, read no more. Just kidding. Read more! Intelligent automation is on the verge of uprooting recruitment as it was, and is, beginning to transform recruitment into a highly more efficient industry. By using automation, recruiters worldwide can finally focus on becoming experts on people rather than spending hours on sourcing, reading resumes, and scheduling meetings. Please read our guide on AI in recruitment to learn more about it:
Did you know that you don’t have to conduct the initial interviews yourself? Hubert is an intelligent conversational chatbot, and he is excellent at conducting pre-employment screening for you. We are biased for sure, but imagine simply switching on Hubert’s automated interviews directly in your ATS and, in return, receive a ranked list of the candidates Hubert has deemed worthy of manually looking into. He can test skills on the spot as well as report back on candidates’ wage claims. In the meantime, you can source talent online, in your ATS (using AI, of course), or grab a coffee. Using a bot of this kind instead of spending too much of your time reading resumes or creating shortlists yourself, you increase both speed-of-hire and quality of hire.
As previously mentioned, considering it’s 2021 and all, perhaps this is the year you decide to implement AI into your workflow. If so, we hope that this article has sparked your interest. If you want to learn more, take a look at our other blog posts. Feel free to reach out if you have any questions regarding AI or Hubert.