Nowadays, it seems that you can’t scroll through your LinkedIn timeline for one minute without reading something about AI. Is it too much of a hype? You might think so, but AI will definitely have a huge impact on the way we work and live our lives. In this article, I will take a look at the role of AI in recruitment. What are the current options and what can we expect in the (near) future? Nowadays, there are more options available than you think!
What are the advantages of AI in recruitment?
The advantages are pretty clear. AI will save time and energy which will help you reduce the costs per new hire. In addition to this, AI improves your overall productivity. Some examples of what AI can already mean for recruitment teams:
If you ever worked with LinkedIn Recruiter Professional in the past, you should be aware of the immense possibilities that this platform can offer you. The moment you start searching for potential candidates, LinkedIn’s AI will automatically make suggestions of profiles of people who let the platform know they are open for a new job. The technology works great, but the costs can be pretty steep. Starting at 8900 USD a year, this tool is expensive but definitely worth it if you are looking for a high-quality tool.
Now that you have a CRM full of talented candidates, it is time to find the right person for the right job. Especially with popular jobs, this can be a time-consuming task. If you have to go through 200 resumes and motivational letters all by yourself, you will be working for days to close a single job.
Luckily for you, there are already a few options out there that can assist you with these tasks. Phenom’s Recruiter Experience helps you with visualizing top candidates with an AI-powered fit score. As a recruiter, you can enter the requirements in your vacancy and the AI will calculate the best match based on the information found in the candidate’s resume and contact details. This is especially a useful tool for larger organizations that receive a lot of unsolicited applications. Let’s say you have a talent pool of 10.000 candidates who are interested in working for your organization, but haven’t applied to a specific job. With the AI-powered fit score, you can immediately see what jobs fit them best so you can reach out to these candidates with an email or SMS campaign.
Another great thing about AI in recruitment is that it has no bias. It does not judge based on race, age, or gender but it only uses work-related variables such as education, experience, and skills. This helps you create a more diverse workforce, which results in higher employee engagement, creativity, better hiring results, and more!
Are there also disadvantages?
Yes. AI is not for every organization in the world. If you are part of a small organization, chances are that you will not get 100 incoming job candidates on every vacancy that you post. With only 10-20 candidates, you might as well go through all of the resumes yourself to select the best candidates for the job. Moreover, investing in AI tools can be very pricey. It definitely helps your recruitment department to work more efficiently, but for smaller organizations investments of thousands of dollars every year can be very expensive. For mid to large-sized organizations, AI in recruitment can be a great addition with a high return on investment.
What can FourVision do?
FourVision implements Phenom’s TXM Platform, Microsoft Dynamics 365 HR and self developed Web Apps that enhance HR processes. Phenom’s TXM Platform allows your organization to take their candidate experience to the next level with a career site integrated with AI. If you are interested in what we can do for your, feel free to reach out to us by clicking the chat icon on the bottom right of your screen!