Artificial intelligence (AI) is the ability of a computer or a computer-controlled robot to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
AI & Recruitment Process
AI can help in the IT recruitment process by automating some of the tasks that are time-consuming or repetitive for human recruiters, such as screening resumes, scheduling interviews, assessing candidates’ skills and personality, and providing feedback.
Key Benefits of using AI in hiring:
- Reducing bias:
AI can help to eliminate human biases that may affect the hiring decisions, such as gender, race, age, or appearance. AI can also help to diversify the talent pool by reaching out to more candidates from different backgrounds and locations.
- Improving efficiency:
AI can help speed up the hiring process by filtering out unqualified candidates, matching candidates to the most suitable jobs, and reducing the administrative workload for recruiters. AI can also help to improve the quality of hire by finding candidates who are the best fit for the role and the company culture.
- Enhancing candidate experience:
AI can help to create a more engaging and personalized experience for candidates by providing them with timely and relevant information, feedback, and support throughout the hiring process. AI can also help to reduce the frustration and uncertainty that candidates may feel when applying for jobs.
Businesses using AI in recruitment and hiring
- HireVue: HireVue is a platform that uses AI to conduct video interviews and assess candidates’ skills and personality. It is used by over 700 companies, including Unilever, Vodafone, PwC, and Oracle.
- Mya Systems: Mya Systems is a chatbot that uses conversational AI to streamline the recruiting process for staffing agencies and companies such as L’Oréal, Adecco, Hays, and Deloitte. It can engage with candidates via text or voice, answer their questions, schedule interviews, and provide feedback.
- HiredScore: HiredScore is a solution that uses AI to analyze candidates’ resumes, skills, and online presence, and rank them according to their fit for the job. It also helps recruiters source and engage with passive candidates from various channels.
- Wade & Wendy: Wade & Wendy is a pair of AI assistants that help both candidates and recruiters in the hiring process. Wade helps candidates find and apply for relevant jobs, while Wendy helps recruiters screen and qualify candidates.
- Hiretual: Hiretual is a tool that uses AI to source and engage with candidates from various platforms, such as LinkedIn, GitHub, Facebook, and more. It also helps recruiters build talent pipelines, manage candidate relationships, and collaborate with hiring teams.
AI can minimize hiring and recruitment Cost
Utilizing artificial intelligence is cost-saving in the hiring and recruitment process. According to some sources, AI recruitment can reduce cost-per-hire by up to 30%.
AI-based digital hiring solutions can also help organizations anticipate future needs, enhance the candidate’s experience, determine the cost of a bad hire, reduce the hiring speed, administrative tasks, and cost, and most importantly reduce attrition.
The AI recruitment software industry is expected to grow at a compound annual growth rate of 7.6% from 2020 to 2027 and reach $388.9 million by 2027.
AI can also help to improve the quality of hire by finding candidates who are the best fit for the role and the company culture.
Difference between Traditional and Digital hiring
The difference between traditional and digital hiring solutions is that traditional hiring solutions rely on human judgment and manual processes, while digital hiring solutions use technology and data to automate and optimize the hiring process. Some of the main differences are:
- Traditional hiring solutions use paper applications, resumes, interviews, and references to assess candidates’ qualifications and the right selection for the job. Digital hiring solutions use online platforms, social media, web scraping, behavioral analytics, AI, and chatbots to source, screen, and engage with candidates.
- Traditional hiring solutions are time-consuming, costly, and prone to human errors and biases. Digital hiring solutions are faster, cheaper, and more objective and accurate.
- Traditional hiring solutions have limited reach and exposure to potential candidates. Digital hiring solutions have wider access and visibility to a diverse global talent pool.
- Traditional hiring solutions offer a passive and one-way experience for candidates. Digital hiring solutions provide an active and interactive experience for candidates.
Disadvantages of totally rely on digital hiring
There are some disadvantages to using digital hiring solutions, such as:
- Costs can spiral: Although online recruitment can be cheaper than traditional methods, it can also incur hidden costs, such as paying for job boards, creating and maintaining a careers website, investing in technology and software, and training staff on how to use them.
- It can be difficult to measure their effectiveness: Online recruitment methods may generate a lot of data, but it can be hard to track and analyze the impact of each source, channel, and campaign on the quality and quantity of candidates.
- It’s informal: Online recruitment can lack the personal touch and human interaction that some candidates and recruiters prefer. It can also create a casual and unprofessional impression of the company if the job ads are poorly written or the communication is inconsistent.
- It attracts bad candidates: The surplus of unqualified applicants is one of the biggest disadvantages of Internet recruiting. You could spend long periods of time sorting through the applications, especially if you don’t have recruiting software that leverages one of the best applicant-tracking systems available.
- There’s a lot of competition: Online recruitment can expose your job openings to a wider audience, but it also means that you are competing with more employers for the same talent. You may need to differentiate your employer brand and value proposition to stand out from the crowd.
- It could lead to lost labor hours: Online recruitment can be time-consuming and distracting for your existing employees, especially if they are not trained or experienced in using the tools and platforms. They may also have to deal with technical issues, spam messages, and irrelevant inquiries.
- It attracts fraudulent applicants: Online recruitment can increase the risk of identity theft, resume fraud, and phishing scams. Some applicants may use fake or stolen credentials, exaggerate their qualifications, or try to obtain sensitive information from the company or other candidates.
- It can affect communication: Online recruitment can create communication barriers and misunderstandings between candidates and recruiters. For example, some candidates may not check their email or phone regularly, some recruiters may not respond promptly or clearly, and some messages may get lost or filtered out.
Traditional or Digital hiring? Which is the best solution is 2024?
Traditional hiring solutions have been the dominant method of recruiting and hiring for a long time, but they are becoming outdated and inefficient in the face of changing workforce needs and expectations. They are slow, costly, biased, and limited in reach and exposure. They also offer a passive and one-way experience for candidates, which can affect their engagement and satisfaction.
Digital hiring solutions are an emerging alternative to traditional hiring methods, as they leverage technology and data to automate and optimize the hiring process. They are faster, cheaper, more objective and accurate, and more accessible and visible. They also offer an active and interactive experience for candidates, which can enhance their communication and feedback.
However, digital hiring solutions are not without their drawbacks, such as hidden costs, difficulty in measuring effectiveness, informality, bad candidates, competition, lost labor hours, fraudulent applicants, and communication barriers. These challenges need to be addressed and overcome by using the best practices and tools available.
The best solution for 2024 is not to rely on either traditional or digital hiring solutions alone but to use a hybrid approach that combines the strengths of both methods.
A hybrid approach can help to balance the human and technological aspects of the hiring process and provide a more holistic and flexible way of finding and attracting the best talent for the organisation.
A hybrid approach can also help to adapt to the changing trends and demands of the recruitment market, such as remote work, gig economy, diversity and inclusion, employer branding, candidate experience, and AI ethics.
Zepto Systems simplifies traditional and digital hiring
Zepto Systems is a company that provides excellent hiring and recruitment services for businesses of all sizes. It can solve the confusion about traditional and digital hiring problems by offering a hybrid approach combining the best methods.
It has more than 20 years of practical experience in the IT Outsourcing industry and has a team of skilled and competitive staff members who can help you find and attract the best talent for your organization.
They use online platforms, social media, web scraping, behavioral analytics, AI, and chatbots to source, screen, and engage with candidates from a diverse and global talent pool. Zepto Systems also uses paper applications, resumes, interviews, and references to assess candidates’ qualifications and fit for the job.
Balancing the human and technological aspects of the hiring process, Zepto Systems provides a more holistic and flexible way of recruiting and hiring. They also adapt to the changing trends and demands of the recruitment market, such as remote work, the gig economy, diversity and inclusion, employer branding, candidate experience, and AI ethics.
If you want to learn more about Zepto Systems and how they can help with your hiring and recruitment needs, reach out to us today!