Hiring is one of the most important things for companies. Some take it seriously; others don’t. However, a good or a bad hire can significantly affect your company’s performance. As mentioned in a report by the US Department of Labor, a bad hire can cost a company around 30% of his/her annual salary. That being said, integrating AI into the hiring process has given a ray of hope. It might sound counterintuitive, but AI has revolutionised recruitment by handling mundane tasks and allowing hiring managers to focus on the personal and creative aspects of the process.
Automating the Tedious, Amplifying the Personal
Hiring has always been a delicate balance between skills, communication, experience and interpersonal traits. One of the key challenges in the modern hiring process is how time-consuming it can be. A 2023 report by Glassdoor found that the average time-to-hire spans 23.8 days, up from 22.9 days in 2021. This delay can lead to a significant loss of talent, with 62% of candidates losing interest in a role if they haven’t heard back within two weeks. AI addresses this problem by automating repetitive and administrative tasks, such as screening resumes, scheduling interviews, and shortlisting candidates based on predefined criteria.
AI-powered tools can scribble through hundreds of resumes in minutes, scanning for skills and qualifications that fit the job profile. Companies like Unilever have embraced AI by implementing software that analyses candidates’ online assessments and video interviews. The result of using AI? Unilever reduced its hiring time by 75%, and AI-driven decisions proved to be as effective as human judgement when assessing soft skills like communication and adaptability. This way, recruiters or HRs get a better understanding of the candidate at a personal level, giving them an insight into the candidate’s mind and the possible process it can use to drive growth and innovation.
AI’s Role in Enhancing Candidate Experience
Candidates are increasingly looking for faster and more transparent hiring processes. LinkedIn’s 2023 Global Talent Trends Report revealed that 83% of candidates believe the hiring process directly affects how they view a company. For instance, AI-driven chatbots can keep candidates informed throughout the process, providing every little update, answering FAQs, and even offering feedback after interviews; however, candidates might prefer it to be done by a human. This ensures a more engaging and responsive experience, which has been proven to enhance candidates’ overall perception of the hiring organisation.
As AI continues to evolve, its potential to reshape the recruitment landscape will grow even further, making the hiring process more efficient, inclusive, and human-centred.
