HR is fast embracing the latest emerging technologies and transforming the way talent management happens. From cloud to social to Artificial Intelligence (AI), each seems to play a significant role in HR sub-domains such as performance management, recruitment, employee engagement and so on.
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Technology and HR are being integrated in a bid to make HR interventions more productivity oriented. After all, HR leaders must justify their value-add to business by optimizing every HR process, and aim to achieve the best from the least investments. Recruitment is one such area, where positions continue to remain vacant for months, as organizations struggle to find the right candidates. Right from job requisitions to candidate sourcing and screening to talent assessment and offer management, every stage creates a time lag in the recruitment process, hurting the business. HR professionals must minimize this lag by making the recruitment process smarter and faster. AI provides that very opportunity.
How big will the impact be?
There seems to be a huge debate about the impact of AI in particular, with some experts opining that automation will lead to extensive job losses and thereby, social discord. However, the reality is that every manual intervention has its inefficiencies, and in today’s fast-paced talent market, we can no longer afford to miss the bus on the HR technology race. From manually depending on job boards for sourcing to subjective assessment methodologies to selecting the right talent, recruiters are struggling with maintaining the quality of recruitment. Driving efficiency is a far cry in this scenario.
Here is how AI can help bridge this gap:
1. Automation makes hiring objective: The latest in automation is the use of AI algorithms to screen resumes, following up with candidates, and sourcing potential candidates for future skills requirements.
2. Responsiveness improves the candidate experience: AI-powered chatbots and virtual assistants are the latest trends in recruitment—they help respond to the candidates who have applied but have been rejected, and even communicates status updates at every stage to those who are selected.
3. Assisting job searchers: Another great way of building an employer brand and becoming credible in the talent market is to help those who have been rejected, seek another job.