AI recruitment software enables recruiters to better leverage their ATS, allowing them to hire more efficiently, shortlist resumes more accurately, and screen resumes more fairly.
AI for recruiting is an important component of the HR technology ecosystem. AI recruitment software, which is directly integrated with the ATS, adds a layer of talent intelligence to the recruiting process, designed to automatically screen thousands of resumes and reduce time-consuming manual tasks.
The most difficult challenge in talent acquisition is still screening resumes efficiently and fairly: The most difficult part of recruitment, according to 52% of talent acquisition leaders, is identifying the right candidates from a large applicant pool.
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What is AI for recruiting?
The application of artificial intelligence to the talent acquisition process, where machine learning can learn to shortlist your ideal candidate as well as automate manual tasks in the recruitment process, is widely recognized as AI for recruiting.
This technology is intended to simplify or automate a portion of the recruiting workflow, particularly repetitive, high-volume tasks.
For example, HR SaaS software that performs sentiment analysis on job descriptions to identify potentially biased language or software that applies machine learning to resumes to auto-screen candidates.
HR SaaS platform for hiring also makes use of your ATS’s wealth of data to generate insights into your talent pool. Artificial intelligence can assist recruiters with blind screening to reduce bias, as well as visibility into previous successful candidates who have stayed with the organization.
What is AI candidate matching?
AI candidate matching is an intelligent recruiting tool that matches candidates with appropriate jobs using semantic search algorithms. These semantic search algorithms look at more than just keywords.
AI candidate matching, when combined with artificial intelligence, expands search capabilities like never before. More importantly, it enables recruiters to quickly and accurately match candidates. This ensures that each candidate is placed in the appropriate role, significantly shortening the candidate sourcing process.
How does AI candidate matching work?
Manual candidate matching is a time-consuming and labor-intensive process that can result in human error and costly mistakes. However, artificial intelligence candidate matching mitigates these risks.
This talent acquisition tool, which combines algorithms and search criteria, assigns a ranking score to each applicant based on pre-filled characteristics, preferences, and keywords, both specific and related. In four steps, here’s how candidate matching works:
- Customizable selection parameters Recruiters can narrow their search by specifying criteria such as experience, location, and salary requirements.
- Semantic search engines. After selecting parameters, recruiters use specific keywords to filter and match candidates.
- Candidate submission is completed quickly. Candidate lists are then created and organized, allowing recruiters to quickly and easily identify the most valuable candidates.
- Communication that is immediate. Finally, automated responses notify candidates of their status immediately.
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Ways AI Candidate Matching Helps Recruiters Be More Productive
AI recruitment software, such as AI candidate matching, significantly speed up the recruiting process and increase recruiter productivity by an astounding 80%. Faster candidate matching allows recruiters to make more placements, which improves both the hiring process and the bottom line. But that’s just the start.
1. Enhance Time-to-Hire metrics
Reduced time-to-hire is one way AI candidate matching improves recruiter productivity. The average number of days it takes a candidate to complete the hiring process is referred to as time-to-hire. This includes the time an applicant spent applying for a job to the time they accepted the job.
AI candidate matching, when combined with job mapping, uses pre-determined keywords and semantic algorithms to match the most suitable candidates with the best jobs the first time. This cuts time-to-hire by 40%, allowing recruiters to work faster and more accurately than ever before.
2. Reduce bias in the hiring process by diversifying it.
To be effective, AI candidate matching relies on data, criteria, and specific keywords. Candidate matching greatly reduces the risk of human bias because the process is automated and based on this data. Anonymous feedback options and demographic data visibility restrictions are two other ways these innovative digital tools reduce bias.
3. Make data-driven recruitment process decisions.
Artificial intelligence and digital tools are changing the way recruiters approach their jobs. These AI-based hiring tools eliminate manual tasks, analyze more data, and assist recruiters in becoming more proactive by automating recruiting tasks. Smart tools, such as candidate matching, can help improve proactivity by measuring key performance indicators (KPIs).
KPIs (Key Performance Indicators), such as time-to-hire and quality of hire, assess the effectiveness and efficiency of your recruiting methods. Understanding these metrics provides recruiters with a better understanding of what is and is not working in their recruiting processes. This enables them to develop and improve recruiting strategies using data-driven decisions.
4. Increase the probability of hiring the right candidates.
Recruiters can make faster and better decisions throughout the recruiting process thanks to the combination of human and machine capabilities. This reduces the likelihood of unsuccessful matches and increases the likelihood of placing the right candidates in the right jobs.
AI candidate matching removes the guesswork from matching by utilizing custom algorithms. Instead, data and analytics help ensure that only the most qualified candidates are matched, saving both candidates and recruiters significant time and energy.
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In a Nutshell
Recruiters are under pressure to find the best candidates for open positions as quickly as possible. Hiring managers are always in need of new employees “today.” With today’s high unemployment, companies that are still actively hiring are dealing with a much larger volume of applicants to screen and evaluate for each role.
Using automated, intelligent candidate matching, recruiters can prioritize candidates and focus their time on talent with the skills and experience needed to succeed in a position, while quickly identifying candidates who may be more qualified for a different open role.
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