With the substantial number of technological advancements arriving in the recruiting space, there’s a growing worry that technology and AI will replace recruiters wholesale. Certainly, there is some truth to the notion. Technology often finds a way to replace the rote activities humans don’t care to perform. But should recruiters be scared for their jobs? And are there any concerns about Artificial Intelligence and recruiting?
The global Artificial Intelligence market size was valued at USD 39.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 42.2% from 2020 to 2027.
When talking about Talent Acquisition, there are five key areas where Artificial Intelligence in recruitment pays off the fastest. Here are just to name a few — time-to-hire, time-to-interview, cost-per-hire and candidate quality.
AI is one of the most popular topics that has appeared recently in discussions related to the field of HR. The software market is booming with various AI/ML recruiting solutions, even Google over the past few years has been implementing AI in order to improve search results, including Google AI job search.
The possibilities are endless with such a solution on board, so why then some HR professionals are still worried about the fact that the machines will become more effective and take their jobs? And how can technology make jobs easier for recruiters? Let’s go through major myths about Artificial Intelligence and find out why.
Myth#1: AI Will Replace Human recruiters
How long does it take to find the perfect match for the position? For the last several years, finding the right candidate in high-demand talent pools has been highlighted as one of the biggest obstacles to attracting top talent. AI recruitment software, like Employa, can perform this task at a click of a finger. The top recruiting software processes an unlimited number of CVs simultaneously, reducing the parsing and screening phases to a few seconds.
This smart intelligence recruitment software can simply look for relevant experience and real competencies instead of fancy buzzwords, and identifies gaps in candidate CVs, so good candidates stand out from the pack. It makes the matching process easier, faster and hassle free.
However, the myth is nullified with the fact that AI in HR is not a production or manufacturing process and instead of setting out to replace the manpower, the AI developers in recruitment intend to make the recruiters and employers more efficient, letting them use their time in a more productive way and it even can scan each resume for inconsistencies or lies to prevent you from the wrong decision. For Example, Employa effectively uses fraud detection and makes the whole process easier.
Myth #2: Myth: AI Recruiting Software is too complicated to use.
Some recruiters believe that to be able to use AI/ML software you have to be an IT guru, but in reality, it’s easier than they think. Analyzing data about candidates and employees can sound intimidating, but it’s something anyone with the right software can do.
That said, familiarity with the core concepts behind AI are becoming increasingly common requirements for employees, just as Internet navigation skills and Excel skills did once upon a time.
Myth #3: Just Big Enterprises and Corporations can benefit from Artificial Intelligence in recruitment
The market is booming with intelligent employment solutions, but a big part of HR professionals consider this type of software is only good for big companies, which is not true. The technology has all kinds of applications for small and medium businesses, and a point of focus right now should be its use in HR. We, as a recruiting software company, believe AI is a game-changer, that’s why we developed our own recruiting platform to be able to help all recruiters on different levels and for all organizations types and sizes.
Myth# 4: AI means scary robots.
It’s been already discussed in different articles, but this topic keeps on popping out. Some people believe that AI recruitment means you’ll be working alongside a sentient robot. Artificial Intelligence is basically just a complex set of algorithms and learning processes that can be applied in any way that humans see fit. AI recruiting, therefore, is the process of applying these complex algorithms and data processing mechanisms to the job finding, screening, communicating with, and identifying candidates.
Now, as we displayed all myths that might concern recruiters on their way to AI technologies here are the benefits any recruiter would get out of AI tools:
- Reducing or eliminating time-consuming tasks. While you want to put the right candidate in your open position, you also need to fill that slot as quickly as possible and as cost-efficient as possible. By significantly reducing the amount of time you need to spend digging through resumes or screening applicants, AI helps you move through the interview process faster — without sacrificing quality of candidates. Win-win.
- Not only will AI reduce your need to hire additional recruiters, interviewers, or employees, but it also ensures you’re putting the right individual in your open position the first time around. By hiring better employees, you’ll reduce turnover and save money on training, signing bonuses, and other expenses associated with taking on new team members.
- Using AI and the data that you get from it, just got you three times more candidates with less than half the budget. And that’s how you optimize your recruitment process with AI.
- Now, using AI is not just beneficial for you and your team. In fact, AI in your process is just as beneficial for the candidates!
- Consistently refine and improve quality-of-hire. Deployed strategically, AI recruitment tools are able to continuously analyze what variables make a high performing employee, and apply that to future screening processes. As this is repeated and refined, quality-of-hire can improve consistently over time.
Recruitment software like an applicant tracking system (ATS) provides a certain degree of automation. It could help you store resumes systematically over the cloud where you would be able to maintain your candidate database. It also helps you search through that candidate database. Or companies can simply use AI-powered recruitment automation software to leverage most AI-enabled functionalities.
Having said all the above the role played by the AI technology in the industry proves that AI has made the job of a recruiter much easier, putting recruitment at the core of the business operations.
With a number of benefits that AI provides in terms of performing various recruitment tasks, the recruiters are now all set to cultivate a positive and enhanced candidate experience with the organization.
As you can see, AI recruiting isn’t quite as scary as it’s been made out to be. In fact, recruiters should be excited about the many personal and company-wide benefits that recruitment AI platforms can bring to the table. Used alongside human intelligence, AI can be a game changer for industries worldwide.
«AI has the potential to significantly improve the way we identify talent as it can reduce the cost of making accurate predictions about one’s potential, while at the same time removing the bias and heuristics that so often cloud human judgement».
Having said all the above the role played by the AI technology in the industry proves that AI has made the job of a recruiter much easier, putting recruitment at the core of the business operations. With a number of benefits that AI provides in terms of performing various recruitment tasks, the recruiters are now all set to cultivate a positive and enhanced candidate experience with the organization.