Artificial Intelligence And Its Candidate Matching

Artificial Intelligence has changed our world, it has increased the pace in which candidates find a job. It has also helped recruiters find stability in the organization. Often we hear job seekers say that finding a job itself is a job in itself. Candidates take their own time and use it to polish their application, documents, etc.

Recruiters are finding Candidates Faster:

Recruiters and HR teams have now found it easier to contact and hire the right and perfect candidate. It would be perfect if the candidate got an automatic recommendation for the role he/she has applied for. It is a dream of organizations to find the right employee and candidate as soon as possible. But they struggle to do so and end up with a lot of irrelevant applications. Employers are struggling to fill the open jobs that they have and are not able to find the skills they need. In a recent report, researchers have said that companies have not been able to fill the 45% of vacancies that are available in the company.

Hiring Funnel

AI the Future of Hiring:

It is a known fact that Artificial Intelligence is fast changing the way humans look at anything. AI is helping various organizations in their recruiting. An AI from TalentAdore has created an Artificially Intelligent Recommendation Engine. It enables the recruiters to match candidates to available positions. It is a tool that is designed to provide the recruitment staff at an organization. The HR team has the power to make a recruitment process more efficient and objective. LinkedIn also follows the deep data extraction process to list job vacancies according to the wishes of the candidate. 52% of talent acquisition leaders have said that for them the hardest part is screening candidates from a large pool of applicants. This process is tedious and is time-consuming in many ways. AI has helped match that and can give the recruiters a better analyzed and smoother way of screening candidates. 

Artificial Intelligence and its matching technology have a lot of possible action areas  such as:

  • It automatically sources different candidates from the talent communities.
  • They can chat with a BOT like interactive dialogue on the organization’s company pages. 
  • AI can receive tips and creates relevant Ad’s for the available vacancies.

AI Recruitment

A Standardized Recruitment Ontology:

AI has been trained using Standardized Recruitment Ontology like the European Union based ESCO and O*NET. These produce high quality and free-of-human-bias results to the recruiters. There are many applicants for various roles and many of whom are reviewed by a recruiter who then updates in the system.

  • ESCO:

ESCO is a relevant international classification framework, that is a key resource in Europe 2020 New Skills and Agenda. In the EU projects that are being planned by the European Nations

  • O*NET:

It is a Training Administration that maintains and develops O*NET Online. It contains standardized, occupation-specific descriptions of over 1000 occupations.

Uses of Artificial Intelligence in Recruitment:

AI has been around for a long time now and in fact, the first and basic form of AI-created way back in the 1930s. A lot has changed since then and the functionality and working of AI have changed and been restructured completely.

The following are how Artificial Intelligence can be used in Recruitment:

Automated Candidate Sourcing:

Candidate sourcing was difficult in the past. But now times have changed and Candidate Sourcing has become easier than ever before. HR teams can find the candidate of their choice without being able to source 1000’s of applications before shortlisting. Recruiters have taken the help of AI and it is doing them good. 

Candidate Rediscovery:

In today’s job market companies are struggling to find top talent in the market as soon as possible. Recruiters rather than spending too much time and money on finding fresh candidates. They are now trying to get them interested in the company.

Candidate Matching:

This is another intriguing use of Artificial Intelligence in Recruitment is the process of sourcing candidates. Even in this space, there is a visible shift towards a customized candidate experience. 

The Hiring of Remote Workers:

Companies have no choice but to hire remote workers, There are many reasons why this happens in the organization. Maybe because there is no suitable candidate that is available for the company to hire immediately. For Example, 5% of workers in the USA from each state work remotely. It is being expected that it will grow in a few years.

Employee Referrals:

Internal referral of new candidates is done regularly in all organizations as they want to hire a suitable candidate as soon as possible. In today’s Job-seeker driven market, recruiters and hiring managers are working smart to get the best of talent through to their organization.

Diversity Hiring:

AI helps improve employee happiness, productivity, and retention. There is an increase in the employee’s innovation and creativity and pushes him/her to do more. It also increases the workforce range of skill sets, talents, and experiences. Diversity was a major issue before but it’s not anymore.

Customized Employee Value Propositions:

All organizations have a different set of Employee Value propositions and a unique set of benefits the employee can avail at a company. This, in turn, helps the company receive the skills, capabilities, and experience that the candidate brings to the company.

Natural Language Processing:

Natural Language Processing techniques used by the HR teams for decades. There are still more avenues to explore for the same. Among other things, NLP also helps build a resume, clarifies the same, ranks, does a deep extraction of data and also semi-automation in the recruitment process.

Facial Expression Analysis:

Video Interviews are something that done more by recruiters now. It saves the candidate and the recruiter time and money. It is a faster method and done with ease. Recruiters also use this as a method of screening candidates as well.

Conclusion:

Artificial Intelligence has helped recruiters change the way they do the process of hiring and has increased their accuracy in finding the right candidate. We at PromptCloud have started using these new methods to increase productivity and also screen various candidates before shortlisting them for the final rounds of the interview.

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