Table of Contents
2.The Major uses of Artificial Intelligence in Talent Management
a) Candidate Sourcing
b) Candidate Screening
c) Targeting the Right Candidate
d) Diversity Hiring
e) Data Collection
The implementation of Artificial Intelligence in hiring practices has been unarguably overwhelming. The past decades have witnessed substantial penetration of AI in Talent Management. The corporate sector (wherever the implementation has been seen) has immensely benefitted by the same, as they are now able to recruit the right people for the right job, with much ease and convenience. AI has reduced talent acquisition cost to a considerable extent and also has proven to be time-efficient. Research has proved that 96 % of HR managers believe AI can improve talent acquisition and retention significantly.
Implementation of AI in talent management goes beyond accessing candidate data. Instead, it aids to leverage the scale of applications and thereby helps companies find the best candidates for the job.
The Major uses of Artificial Intelligence in Talent Management
The very basis of all AI algorithms is that they are capable of learning from data. A typical AI algorithm enhances itself by learning from all the available data and then perfects itself further. This has multiple implications in the recruitment sector, especially with the sentimental and behavioural analysis angles involved. Let us look at some of the major applications of AI in Talent Management below:
1. Candidate Sourcing
Due to its ability to process data at a large scale, the reach is broader, and the entire exercise of creating a talent pool becomes much faster when AI comes into picture. AI can contribute not just to remove the difficult and time-consuming task of sourcing of candidates but can also increase the accuracy of the find. For instance, how about sourcing a candidate’s profile from say LinkedIn and using an algorithm to check on them further on other social media platforms.
2. Candidate Screening
It is easy for recruiters to miss out on potential candidates if they are dealing with thousands or, for that matter, hundreds of applications per job. AI based solutions can help talent acquisition teams by screening the applicant pool extensively and accordingly, scoring on their personal fit. The latter saves the countless screening hours of the recruiters while providing more time to focus on other relevant activities for streamlining the process. AI can also aid to increase candidate engagement by automatically sending chats, emails, assessments, and the next step, so no more boring copy paste emails!
3. Targeting the Right Candidate
Programmatic advertising-another AI application is used to display targeted ads to the targeted candidate audience. Highly targeted ads are made possible by using the prospect’s professional interests, cookies left behind, and the demographics. Cookies, for instance, reveal the type of jobs potential candidates were most interested in upon visiting career and job posting pages.
4. Diversity Hiring
AI recruiting solutions can contribute to diverse hiring by eliminating basic bias factors that a human would almost subconsciously sustain. AI can be configured to ignore gender, age, and race when assessing the credibility of the candidate while going through their profiles. It is well known that building a diverse workforce provides organizations with several benefits, spanning from increased creativity and innovation to employee productivity and retention, plus extra marks for diversity hire!
AI recruiting chatbots and assistants provide a seamless and efficient way to gather data from candidates. Important application details and screening questions can be collected via a chatbot and instantly shared with recruiters. Automating the process of simple screening with basic questions can save talent acquisition teams the long process of sending emails and calling or texting.
Certain administration tasks in the offer and onboarding stage of the employee lifecycle need to be concluded repeatedly and, as such, can e=require HR bandwidth and resources. AI can help to automate mundane tasks like creating templates for offer letters, handling background checks, organizing employee records, and delivering onboarding paperwork.
Just like any other new technology, the use of AI in Talent Management needs to be viewed multi-dimensionally before incorporating it into work processes. AI strategy for HR helps the company to create a much more personalized employee experience. It helps the organization to understand what are the real needs of its employees and can be catered to, to reduce the attrition rates and improve overall productivity. AI can also be used to enrich the employee experience and deliver on the promise of hyper-personalization. This can work by creating a provision for automated anonymous feedback reports.
Long things short, the benefits are immense and if implemented the right way, AI in Talent Management can go a long way to help reduce the overall costs and improve efficiencies. We at Qbikel can make that work for you too!
How you may ask? Well, why not grab a cup of coffee with us!!
See Also: What are the new trends in recruitment?