How AI is Simplifying the Recruitment Process?

Introduction 

The talent landscape is undergoing unprecedented shifts and the right talent will help unlock a competitive advantage in an environment ridden with macroeconomic uncertainty, skills gaps, return-to-office mandates, and rise of Gen AI. In fact, Gen AI is fast changing not only how people work but the work experience itself. As a result, Talent Acquisition will have to undergo a change from within, as recruiters will need new skills, new tools, and agility to attract, hire, and retain the best talent. One critical skill for the recruiting function to build is AI and Gen AI, to enable organizations to be resilient, agile and adapt to changing times. 

Executives will double down on AI investment (43%), reskilling (40%), and digital transformation (39%) .

Understanding AI in Recruitment

AI and Generative AI is destined to become one of the key technology trends to influence hiring. The past year has seen AI and Gen AI being integrated more closely into work and life. This is just the tip of the iceberg – according to a survey, just 27% of talent professionals say they’re using or experimenting with Gen AI. Yet, the potential of AI in recruitment is imminent: 

62% of recruiting professionals express optimism about AI’s impact on recruitment. 

56% percent of executives see AI as a job creator in their organization, while 44% believe the opposite .

The advantages of AI for hiring are real – better productivity and accuracy, better skill predictability,  lower cost, and eventually enabling recruiters to take on more value-adding work, leading to better engagement. 

Processes of Recruitment Using AI 

By adopting a skills-first hiring strategy, companies can continue to target candidates based on new and dynamic skills requirements rather than static job titles. AI and GenAI can play a critical role in this, across the recruitment funnel: 

• Candidate Sourcing: Expanding one’s talent pool is essential to bridge the skills gap. In fact, talent pools expand nearly 10x when using a skills-first approach. AI’s skills-intelligence can carry out proactive skills-roles match by assessing the “right skills for the task at hand”. This shall help companies tap into potential candidates who were previously overlooked, such as on demand talent, fractional CXOs, project consultants, subject matter experts, domain experts, short-term talent or interim talent, gig talent, apprentices, returnships, DEI talent, and so on.
  

• Candidate Screening: Parsing thousands of candidate applications manually hampers recruitment efficiency. AI’s skills-role matching capabilities can help quickly screen CVs to identify the right skills. Another advantage is – Gen AI tools have already made it faster and easier to write job descriptions, according to 57% of recruiters.
  

• Candidate Engagement: Automation and AI, when embedded into talent search platforms, can take over certain elements of candidate communication. For example, bots can help answer candidate queries and keep them engaged in real time. An AI virtual assistant can seamlessly schedule interviews and relieve recruiters of the operational tasks. 35% of recruiters report it being faster and easier to engage with candidates using GenAI tools.
  

• Hiring Decision Making: AI’s deep and dynamic talent intelligence capabilities shall enable Talent Acquisition leaders to align talent decisions with the strategic business goals. AI’s ability to analyse both internal data(pay parity, talent mobility, organizational capability, performance) and external data (labour market, talent pools, macroeconomics predictions) is a boon to help leaders take data-backed talent decisions. Some decisions being, “Does on demand hiring work for the business?”, “What is the best workforce mix for the business?”, and so on. 

Talent acquisition leaders believe that the rise of Gen AI will not only transform the recruiting process, but it will also elevate TA’s role within organizations. 

How AI Makes Recruitment Easy?

AI and Gen AI finds myriad applications in HR and particularly in Recruitment: 

• Automates Time-Consuming Tasks: Gen AI tools are already removing daily mundane tasks (42% recruiters agree) and improving recruiter productivity (41% recruiters agree). It is also automating tasks to enable recruiters to spend time on more fulfilling work (45% recruiters agree). This can free up recruiter bandwidth to advise on strategic talent issues, such as developing skills-based approaches to talent, DEI initiatives and strategic workforce planning.

• Enhance Candidate Sourcing and Matching: AI’s potential to access varied talent marketplaces and assess talent from a skills-first approach drives more efficient talent search. An AI-powered platform can screen multiple talent profiles with minimum time and effort, arriving at more accurate skills-role match.
  

• Improve Candidate Engagement and Communication: AI-enabled recruitment tools can streamline the candidate application process, making it more efficient and enjoyable for candidates. It better personalizes the candidate experience through continuous learning, and provides transparent, fair information and clear communication.

• Implement Data-Driven Decision Making: AI’s data capabilities and continuous learning capabilities make it possible to provide real and dependable talent insights around talent supply and demand. This improved “skills visibility” can empower leaders to better match work to individuals’ skills and motivations. This can help build a productive, future-ready and sustainable workforce.

• Reduce Bias and Enhance DEI: Human biases often crop up in the recruitment and selection process, and hamper recruiters from building a diverse workforce. AI has the power to access talent pools and screen candidates objectively, by minimizing biases. This is essential because unfair/unequal treatment (such as perceived favoritism, bias, and discrimination) also erodes trust[sic] . And employee-employer trust is today’s success currency.

• Streamline Onboarding and Training: Effectively assimilating new joiners in the organization’s ways of working is essential for both people and organizational success. AI and automation can aid streamlining of onboarding operations, such as joining formalities. AI and Gen AI also show potential to induct and handhold new joiners by recommending and creating personalized learning journeys, generating learning content, and translating this upskilling to function-level / org-level capability building. For this, AI needs to be integrated into the induction and learning and development processes.
  
  While AI, Gen AI and technology will foster better talent acquisition and talent management, the human touch will still hold significance in the hiring process. Recruiters will distinguish themselves by doing things that AI can’t do, such as forging strong ties to candidates and offering positive candidate experiences. As a result, soft skills will be even more important. The top three recruiter human skills are communication, relationship-building, and adaptability
  
  Amidst all the positive optimism around AI and Gen AI, one aspect is clear – they must be handled carefully, in a right balance with the human element. This means keeping AI and Gen AI in the right hands of the right experts. 

Solve Cube is Here to Simplify the Hiring Process

SolveCube’s brings together the expertise of experienced industry practitioners with over 4 decades of hands-on talent experience. This strong people-element handshakes with a robust technology element, thanks to a deep understanding of next-gen technologies like AI and Gen AI. The SolveCube edge goes beyond people and tech, the ultimate goal being, to build skills-powered organizations by enabling talent access and by simplifying the hiring process for businesses. This is possible thanks to:

• A multi-dimensional talent platform enables access to a wide talent pool of 20,000+  on demand experts, and an aggregated talent pool of 580+ million.

• A multi-country, multi-domain, multi-industry and diverse talent pool, which includes, but not limited to, short term, fractional, interim or permanent roles – a basket of options to suit the business model and build a blended workforce strategy.

• Intelligent Talent Search through an advanced Al engine which Sources, Searches, Indexes and Rank Orders the right talent match for business, with global reach and access.

• Maximised hiring efficiency by using AI for matching & rank ordering skills & capability to role.

• Curated Talent Assessment by evaluating each candidate for their fit – for-purpose, availability, right to work in the relevant country, budget, culture fit and credential verification. SolveCube uses extensive data and advanced algorithms to achieve this.

• An Integrated Suite of tech platform, services, and tools designed to accelerate the hiring process, ensuring businesses secure top talent swiftly and efficiently.

• Talent Scalability through an instant talent supply chain and on demand recruiting support to augment capacity as needed.
  

• Innovative solutions tailored to organizations’ specific needs, such as Recruiter-on-Demand, which provides access to global talent, comprehensive support, and cost-efficiency, without the hassle of managing an external recruitment agency.

SolveCube’s core is a high business focus, with its suite of Advisory, People Strategy and Blended Workforce Solutions. This makes the solutions cognizant of the rapidly evolving business environments enabling SolveCube to partner in building future-ready organizations.