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Internal Talent Marketplace Talent Management The AI-HR Scenario

How Can Small Businesses Utilize AI In HR To Help Grow Their Business Now?

Artificial Intelligence is known to have revolutionized the corporate sector. It has proven to be a technology that delivers results with accuracy and precision and hence has become an affordable medium for small business houses as well. Since it is a well-regulated mechanism that gets upgraded with time and usage, its acceptance in the corporate sector has been growing by the day. Let us look at a few of them in short below:

1. AI has brought about significant changes in the field of logistics, which small retailers deal with the most. With the advent of the technology of AI, the delivery of goods has become more efficient and accurate because of minimum human intervention. 

2. The role of AI has changed the way customers are dealt with by the firms. It has given a new prism of thought to improve the overall customer experience. The AI-powered chatbots are one such instrument of change. 

3. AI has the capacity to use the data available at your disposal to understand the customers and make smart decisions over time. This, in turn, can help the small business units to earn sustain customers and thereby increase sales and profitability. AI can also make the owners of smaller businesses, aware of various market threats and irregularities and thus help to avoid any uncomfortable scenario which may affect the year end financials of the business.

However, at Qbikel, we talk about everything Human Resource. Hence, let us have a look at how AI in HR is changing the face of the industry.

How can AI in HR help with recruitments?

There is an ever-growing variety of artificial intelligence solutions at the disposal of recruiters that can facilitate a hustle free and efficient recruitment process. Given below are some of the most popular AI solutions with pre-screening of candidates during the recruitment process

Facial Expression Analysis

In a face to face interview, one can analyse the body language of the candidate to ascertain their personality traits. However, with the entire remote working and remote hiring thing in place, it is only the facial expressions that can be examined. AI can help with that by the use of facial mapping solutions. Couple it with sentimental and behavioural analysis of their social feeds and the kind of language that use and we get an even accurate understanding of the candidate’s personality. 

Sourcing and Matching Candidates with AI

One area where AI is massively helping recruiters is the sourcing of candidates. Whether it is simple outreach, candidate matching, or even candidate rediscovery, there is a wide array of AI tools available to find the best candidates more easily than ever before. With these tools, recruiters now have the ability to automate their sourcing and create a wider candidate pool. This same technology also helps engage prospects by being available 24/7 and sending candidates messages throughout the process. And yes, an Internal Talent Marketplace like that of Qbikel is one such application!

Cognitive and rule-based AI Chatbots

Chatbots are quickly changing the game for recruiters across industries, especially for companies with high volume recruitment needs. There are two types of chatbots that can help immensely in screening and scheduling candidate interviews. Cognitive chatbots and rule-based chatbots. Cognitive chatbots usually use a mixture of AI, machine learning, and natural language understanding (NLU) capabilities to better understand the natural human dialogue. Rule-based chatbots are also effective, allowing their operators to implement certain rules and behaviours according to their industry or needs while being flexible enough to adapt and change those necessary rules.

How successful has the application of AI in HR been?

Artificial intelligence (AI) is proving to be the new industry favourite for recruitment and is gradually becoming a must-have in every recruiter’s toolbox. Let us have a look at how it has fared thus far: 

Improved quality of candidates

The quality of applicants depends on the initial candidates being attracted by the job posting. Adding AI to the recruitment process has helped in improving the quality of the applicants in a number of ways. This has been achieved through creation of accurate job descriptions, an accurate screening and an overall analysis of the candidate’s personality.

Better Experience for Candidates

AI in the process of recruitment is just as beneficial for the candidates too! It might sound counterintuitive as to how can you give candidates a better experience with less human interaction. However, an AI based assistant which answers all the queries, the unnecessary calls between the candidates and HR about the status have been addressed and reduced.

Cost-Effectiveness

Hiring a new employee is a costly endeavour. AI-based tools have been acting as a catalyst in reducing the cost of hiring. These tools facilitate screening applicants, hosting interviews, and ultimately training employees. Not just it saves the time but also saves the costs that one has to spend on recruitment agencies. In addition to this, an Internal Talent Marketplace can further reduce the overall costs by roughly 40% minimum.

How do we know all that?

Well, what do you think we at Qbikel have been doing all this time??

See Also: 5 Mistakes To Avoid When Using AI For Talent Management

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