September 27, 2021

A Glance at the Role of AI in Talent Acquisition and HCM

Written by:
Marc Witney
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According to iCIMS, 91% of employers have had open roles in 2021. At the same time, three-quarters of human resources professionals complain about a skills gap in their applicant pools.

Lack of applicants may not be the problem. Sorting through candidates to find the right combination of skills while hiring for culture fit certainly is. Talent acquisition dynamics are complicated. Many companies today struggle with the hiring and retention of new talent. 

AI-based recruitment relieves the heavy burden on human resources and talent acquisition professionals as they no longer have to manually assess every applicant and candidate. From the beginning to the end of the hiring process, artificial intelligence can streamline and lighten the workload.

As a result, humans can make important decisions. This blog post demonstrates how your company can benefit from AI in talent acquisition and management. 

Recruiting Made Easy

Keyword search resume database technologies are no longer capable of meeting the complex needs of talent acquisition and HR teams, especially with the post-pandemic complexities of the labor market today. 

Online job search is still dominant. Job seekers and professionals perfect their online profiles and network through social media. Also, they scan for opportunities on virtual job boards.

With ever greater availability of online job postings, one would think that recruiting has become easier. But the reality is that this adds complexities to managing a larger talent pool especially when many applicants are not the right fit for the jobs they apply for, resulting in a lot more screening for recruiters. 

AI-based recruitment improves the recruiting process by automating all the tedious processes. In turn, recruiters make informed decisions without the risk of missing key pieces of intelligence. 

Keep an Eye on the Market

AI tools can keep an eye on trends and monitor changes in the labor market. These capabilities are essential for recruiters and HR looking to fill their job openings. AI platforms can collect data about your respective market so that you can track which companies are hiring and for what job opportunities.

In addition, you can analyze locations where talent pools with specific skills reside. AI tools can inform you of those talent pools and skill sets in different geographies. You can leverage this data in your remote hiring as you reach out to outside talent to meet your specific talent needs and fill skill gaps in your organization. 

 

Crawling Online Profiles

In general, recruiters need to use online search tools to assess candidate profiles. It's difficult to speedup this process because of how freeform job profiles can be. Job seekers writeup their own bios and experiences with very few recruiters who can read them and assess them carefully. Clicking on profiles does not always yield results, either. Unfortunately, this makes the task both time-consuming and frustrating.

With AI-based recruitment tools, you can scan millions of profiles without any of the hard work. AI skill mapping tools help you find candidates with the expertise you need in a matter of minutes. You're presented with carefully chosen candidates discovered by AI from job boards and social media platforms. 

Find Value in Skills 

As the market is witnessing a serious shift to skills, certain AI-based recruitment tools have been able to leverage skills to help HR and TA teams in identifying the right candidates. Data-driven insights assist you in finding candidates with valuable and transferable skills. These candidates can already be in your existing talent network. 

For instance, it's difficult to keep track of the skills and expertise that your workforce currently has, or it will need over the next several months. Leveraging AI tools helps you assess your current workforce and recommend ways to discover their potential based on their skills or lack thereof. As your company looks to grow, you can fill some of the much-needed positions from within or hire new candidates from outside the organization who possess the required skills. This is a step forward in expediting the hiring process and making it more efficient.

Maintaining a Talent Network

The use of AI in recruitment keeps candidate profiles on hand, updating each candidate with the most recent qualifications. Each time a candidate provides a new experience or skill, the system gets updated. 

As a result, each time a new position comes up, you won't have to start from scratch.

Files on the best-screened candidates will already be available for any opening. AI will compare candidate profiles to every job opening in your company, even if they didn't apply for them. Then, you can reach out to candidates that match what you need.

When combined with skill mapping technology, you can assess your company's skill gaps. In addition, it can assess hiring deficiencies, find, and recommend candidates who could be important assets to the company.

Improve Candidate Engagement

Utilizing automation goes beyond finding candidates, you can also set up automation to engage with potential new hires. Chatbots and automatic emails, for example, help you communicate with applicants. You'll never miss a chance to reach out, provide information, or forward necessary documents. As a result, AI improves both HR and candidate experience.

Highly-Targeted Job Ads

Scanning online profiles are not the only way to find candidates. Candidates still seek jobs through advertisements and job boards. Putting out detailed job advertisements is a great way to attract the right pool of candidates. AI can create and distribute highly targeted ads so that the most qualified candidates don't miss your job posting.

AI uses data on web searches and behaviors on job boards to identify interested candidates. It then scans interested candidate profiles to determine if they fit the needed skills. Once AI identifies the right candidate based on their skills, it sends out your job postings to them.

Uncover Hidden Talent in Your Midst

Many businesses are implementing AI tools to effectively live up to their promise to their employees of upward internal mobility. The AI technology is facilitating a change in their organizational culture, making it possible for their HR teams to match internal talent to the right jobs, projects, and to more senior roles. They are also able to develop a better understanding of who in their existing talent network needs upskilling, reskilling, and new training so that they are prepared for new roles. This is an opportunity to uncover hidden talent in their midst and to a clear look into their internal needs vs what they should seek from external talent.  

Transform the Way You Hire

When it comes to saving time and resources, AI-based recruitment can be an indispensable asset. AI solutions automate administrative tasks and streamline tedious processes. This way, HR can make not just quick, but informed decisions. Skills are one of the best ways to assess your human capital needs and assess your organizational gaps. Join us today for a demo on how we can help you optimize your HCM.

Human Resources Today