Here’s why HR professionals should pay more attention to AI
ORGANIZATIONS are constantly exploring new ways to leverage artificial intelligence (AI), which is why spending forecasts for the technology are growing in double digits and will cross the US$100 billion (annual) mark soon.
In the human resources field, there’s a lot of scope for AI. Recently, IBM announced that AI has replaced 30 percent of its HR staff (meaning the remaining are doing more meaningful tasks now), but what’s more interesting is that it claimed that AI can also predict which employees are about to quit their jobs with 95 percent accuracy.
Clearly, AI is evolving quickly and helping HR teams do more with fewer resources, be it recruiting, training, payroll, or appraisals.
Of these, recruiting, most HR managers will agree, is quite a challenging task, and could use a bit of help from AI.
The recruitment cycle starts with receiving a request for a new candidate (for a new role), requires the creation of a job description, putting out an ad, receiving CVs, sorting CVs, scheduling interviews, sending out offers, negotiating pay, and finally ends with signing the job contract.
Throughout this cycle, there are many ways in which AI can help HR managers. Some of these are:
# 1 | Improved job adverts
Recruiters can use AI to sort through hundreds of thousands of job adverts in any particular niche that they’re looking to recruit in and find out what sort of jobs already exist, what are the needs and demands of those jobs, and what kind of candidates are other companies looking for.
Once recruiters have that information, it’s easy for them to know how to frame and structure their own advert in order to attract the right talent.
# 2 | Automated replies
Companies can use chatbots to help answer the frequently asked questions that applicants usually have, saving HR managers a significant amount of time.
In today’s day and age, companies want to come across as helpful and approachable — hence, answering all queries promptly is important — while using a chatbot is most efficient.
# 3 | Video interviews
Some companies receive hundreds or even thousands of applications. Physically interviewing each of them is difficult.
However, in order to get the best talent, it might be a good idea for HR managers to get candidates to submit videos of themselves explaining why they’re a good fit for the company and the role.
These videos can then be analyzed by AI-powered solutions to analyze facial expressions, word choice, speech rate, and several other factors — to find the candidates suitable for personal interviews.
# 4 | Assessments
Not all jobs have a formal education requirement. This is especially true in the new age where data scientists and digital marketers come from varying backgrounds and earn their stripes on the job.
AI can help create assessments to understand whether candidates applying for a particular role will be able to succeed in it, helping HR managers save time and money.
# 5 | Improved communications
During the various stages of the recruitment cycle, it’s a good idea to keep candidates informed and in the loop on the progress of their application.
Using AI-powered smart communication tools, HR managers not only save time but also manage to efficiently provide the updates necessary to ensure a great applicant experience.