The impact of artificial intelligence within the recruitment industry
By Sujatha Kumaraswamy, CEO, MeritTrac Services
Technological innovations are inspiring and provide limitless prospects in today’s dynamic world. Artificial intelligence (AI) has been gaining immense popularity and a flurry of recent technological developments has had a significant influence on the HR and recruitment sectors. Businesses have been streamlining their recruiting processes by leveraging AI-based results and are now combining AI and the convenience of remote hiring to improve their recruitment procedures. Technology has changed the way jobs are posted, how applications are managed and shortlisted, and how we contact and interview applicants.
Challenges faced during the recruitment
With a large number of freshers and job seekers right now, recruiters are under tremendous pressure to respond quickly to a volatile economic environment. Businesses are facing significant difficulties in finding high-quality candidates in large numbers, especially when they must manually manage processes. Another issue that most recruiters confront is tracking and categorising large-scale recruiting metrics generated by a huge number of applications. Many businesses struggle to create an efficient and well-structured selection process. It is challenging for stakeholders to make efficient, data-driven, optimal recruiting or staff development decisions. Not to mention platform limitations and flaws such as a lack of centralised visibility to manage assessment procedures, a lack of management and coordination between departments, and so on.
Leveraging AI to enhance the hiring process
Integrating AI-driven talent sourcing into any organisation is critical. Shifting to an AI-driven data approach will solve problems that organisations are facing today and improve the effectiveness and efficiency of the recruitment process. Analysing applicant and employee data may help identify recruiting bottlenecks and methodically structure and refine hiring efforts across the board. End-to-end recruiting operations can be done swiftly and digitally with the use of AI, allowing the operation cycle to be optimised. It also significantly enhances the matching of suitable candidates to the right jobs. AI can assist businesses in finding the best applicants by matching portfolios, screening candidates, and automatically generating reports. Data-driven recruiting eliminates manual processing resulting in a more unified, unbiased, cost-effective, and seamless system for the present and future.
AI helps simplify and enhance the decision-making process
In the long run, AI will help retain existing employees by substantially decreasing their burden and making the hiring experience more rewarding. The outstanding feature of AI is its capacity to anticipate problems and provide relevant solutions. This helps enhance the appeal of businesses, both on a client and employee level. Recruiters can ensure more quality prospects and increased productivity for current and potential clients by tracking people performance and potential.
Artificial Intelligence will enable businesses to establish an effective ecosystem and boost the relationship between recruiters and hiring managers by creating a process of feedback too. By allowing time for planning, in-depth thinking, and a more complete result-generation process, data-driven hiring has the potential to transform the whole recruitment sector.
A comprehensive modular assessment ecosystem that might bring together the scattered components of the employment process into a cohesive platform providing holistic end-to-end assessment solutions has been sorely absent thus far. Being part of the next-generation digital assessment revolution will provide organisations the opportunity to develop strong workforces and improve their decision-making processes.
