Artificial intelligence (AI) is set to change the way the recruitment industry and organisations search for and acquire talent, according to recruiting experts Hays.
Automated technology can analyse the mountains of data that exist within an organisation and the wider job market, translating it into easily digestible formats. According to Alistair Cox, CEO of Hays, this will help humans make better recruitment decisions.
Alistair sees three key areas of recruitment that AI will revolutionise:
1. More efficient and fairer candidate screening
“A simple job ad can elicit tens of thousands of responses, many of which may be wholly inappropriate applications, yet all must all be screened in order to find the real stars,” says Alistair.
With the aid of AI, time consuming areas of recruitment, such as CV screening, drafting job descriptions and communicating with candidates, could instead take seconds. This will free up time to focus on the human aspect of recruitment and offer a more personal service to clients and candidates.
Hays has already taken its first steps in harnessing the power of AI with an external partner, which has accelerated the shortlisting process, enabling our recruitment consultants to concentrate on assessing the individual candidates outlined by the technology.
2. Improved cultural fit
The main cause of an unsuccessful hire is a poor cultural fit between employee and organisation. AI has the potential to overcome this. Online job boards already use algorithms to match their community of job seekers with available roles. For example, a LinkedIn job posting will rank the suitability of candidates by utilising the available information on their profile. As AI develops, these algorithms will not only take technical capabilities into account but will become more sophisticated and analyse a candidate’s likely fit to the organisation.
However, the human element will remain part of the process. As Alistair explains, “It remains incredibly difficult for any machine to analyse the soft skills that remain so crucial to modern business. I’m yet to see an algorithm that can read things like humour, temperament or enthusiasm as effectively as a person can. And let’s not forget that ultimately human oversight is still required to compile criteria – I certainly wouldn’t want a machine deciding the persona of my business, and I don’t think it would do a particularly good job yet.”
3. Safeguard future talent pipelines
AI has the potential to improve employee retention and development. The retail sector has been harnessing customer data successfully for years, so they are able to target their customers with offers and rewards tailored to the individual. Alistair expects employers to follow suit, offering a more personalised approach to incentives. It’s also possible that AI could inform managers of when they are at risk of losing a member of their team, giving them ample time to intervene.
There is also the potential to supplement proactive human planning. “An organisation’s talent flow is essentially another data spread that a computer can analyse to spot upcoming trends, either assessing when future revenue growth will require additional staff, or analysing calendar patterns to identify which time of year employees are most likely to depart, for example,” Alistair says.
While these developments in AI will make the recruitment process far more efficient, allowing hiring managers to focus on higher value tasks, Alistair stresses the importance of not losing the human touch.
“Today people do business with people and I hope that never changes. Despite the excitement and fears around the rise of AI, talent management largely remains a contact sport, where gut feeling, grounded in thousands of tiny facets of human experience which are never captured as data, plays just as strong a role as hard data.”
To find out more about Hays, please visit their website: https://www.hays.com.au/