How technology is strengthening recruitment industry

How technology is strengthening recruitment industry

Sarbojit MallickUpdated: Monday, January 10, 2022, 12:42 PM IST
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Around 60 percent of companies globally rely on AI-driven technologies to screen resumes. / Representative Image |

Finding the perfect candidate for a job has always been like finding a needle in the haystack, except in the case of recruitment, as you look through the haystack, it keeps rising. Before the 2000s, companies would post job advertisements in newspapers and job seekers would hand in the hard copy of their resumes! Endless hours were spent scouting local talent, matching candidate skills to job requirements and interviewing candidates one after another to settle for whoever fits the budget.

But things have changed now. Technology today is radically transforming every business sector. It has even streamlined the recruitment process by automating where human efforts are poured. In fact, 60 percent of companies globally rely on AI-driven technologies to screen resumes. Developers bring forth modern tools and technologies to replace conventional and ineffective practices and strengthen the recruitment industry. Thus, it is imperative to understand how new technologies redefine the recruitment landscape.

Candidate personality graph

Recruitment is all about bringing like-minded people together who can work harmoniously towards a mutual goal. In the current times where candidates primarily drive the market, recruiters have to follow what candidates prefer.

And in the present time, 86% of the candidates use their smartphones to begin a job search. AI algorithms shows job openings by assessing candidate personality graphs and mapping candidate preferences related to their career, previous positions, academic qualifications, etc.

Employer DNA mapping

Just as not every candidate can be a right fit for an organisation, similarly, not every employer is suitable for every candidate’s career goals. To determine how a company hires, what kind of employees it prefers to fill up different roles, and its values and culture, technology has facilitated Employer DNA Mapping.

Using such advanced technologies, one can find out about a company’s DNA, workforce, corporate culture, etc., to hire only from the best talent pool. Many recruitment platforms are now integrated with AI-driven algorithms that help through this process.

Candidate, recruiter preference insights

An employer entrusts recruiters to help them hire the most suitable candidate for their organisation. So, it becomes critical for an employer to learn the recruiter's preferences and the candidate. By harnessing the potential of Artificial Intelligence (AI) and Machine Learning (ML), employers can rely on data and create a data-driven recruiting process. As it becomes easier with technology to analyse preferences, previous actions and behaviour, employers can embrace data-driven recruitment strategies to bring efficiency to the hiring process.

Candidate-Employer Matchmaking

To build successful long-term relationships, an employer must determine whether a candidate is the right fit for their organisation.

Automated interviewing process

If you look at the recruitment process of big brands like Amazon, Walmart, Google, Microsoft, etc., you’ll see that they have already started using NLP (Natural Language Processing) tools to interview candidates. Automating the interview process can save valuable time lost in manual scheduling, and the process can be streamlined. This enhances the candidate experience and simplifies the tasks of recruiters and employers. New-age employers are deploying candidate management systems to eliminate mundane human-oriented tasks and help them adopt an intelligent hiring approach.

Background verification

Traditionally, HRs reach out to the connections provided or previous employers of the candidate to validate their resumes, or they often hire a third-party agency specialising in verification to do the job for them. Unfortunately, one requires too much manual work and time, so 48 percent of HR managers skip this step.

However, many companies are moving towards blockchain technology to take care of background and document verification. Companies like Checkr, Intelligo, Sterling (listed recently on NASDAQ), Exiger, and Onfido are already adept at leveraging the capabilities of Artificial Intelligence and Machine Learning to be at the forefront of background verification.

Final thoughts

Technology cannot replace or eliminate the human element from recruitment but reduce human efforts and streamline recruitment. But then the current developments do present a scenario wherein resumes might become a thing of the past.

Also, using the traditional methods in recent times might result in losing the perfect match for your company. As a result, it enables and empowers them to prominence the key areas that can elevate this industry.

(Sarbojit Mallick is CBO and Co-Founder, InstaHyre, an advanced hiring platform based on AI)

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