By Sneha Bokil - November 11, 2019 3 Mins Read
AI is helping hiring managers and recruiters filter several candidates, recommendations as well as referrals, to hire suitable executives and also predict turnover risk.
Recruiters are using Artificial Intelligence (AI) to discover and hire the right candidate for senior leadership roles. With the use of the right AI tools, recruiters can analyze data in significant quantities and make sound decisions based on predictions.
As per a report titled ‘AI for Recruiting,’ organizations using AI for recruiting processes have witnessed a substantial decrease in hiring times. There has been a 35% reduction in turnover rates and at the same time a 20% increase in performance. The report also added that AI adoption has improved revenue per employee by 4%.
Along with AI, recruitment managers and HRs are also using Business Intelligence (BI) to remove hiring biases to provide equal employment opportunities for all irrespective of their gender or social status. AI is helping hiring managers filter several candidates, recommendations as well as referrals to hire suitable executives and also predict turnover risk.
It is relatively easy to look for talent for middle-management and junior-level as compared to recruitment for the senior leadership role as they have several years of experience, high salary, and in-depth industry knowledge.
Here are some of the ways AI helps recruiters screen candidates for senior leadership roles:
Shortlisting candidates based on their branding
When it comes to recruiting senior management positions, HR managers have to go the extra mile and look beyond the candidate’s work experience and qualifications. They need to evaluate their profile by taking into consideration their personal branding on social and digital platforms.
Moreover, it is essential to check their endorsements and referral networks on LinkedIn and other professional networks. With the help of AI tools, HRs can automate the process of sifting through the vast data sets and speed up the hiring process.
AI enables a faster-responsive system
If companies are not proactive in their recruitment efforts and delay the hiring process for senior leaders, they may end up losing valuable talents to other companies. AI and BI tools such as chatbots offer a faster-responsive system to keep applicants engaged throughout their application and interviewing process. They can use AI technology to automate methods and standardize the process that will lead to a speedy recruiting process.
AI and BI tools help in comparative analysis
Organizations can use AI and BI tools and for a comparative analysis of top candidates based on different parameters. It will help recruiters shortlist candidates before finalizing them for interview rounds. Scheduling of interviews also becomes easy with the help of AI. Smart automation helps in automatically finding a suitable interview slot between the two.
AI is changing the traditional methods of recruiting and it will continue to do the same in the upcoming years.
Sneha Bokil is a Senior Editor with OnDot Media. She writes editorials on an array of topics ranging from IoT, AI, ML, and cloud computing, among others. She has over 9 years of experience in the field of content creation, where she has written on technology, both enterprise and consumer, and finance.
A Peer Knowledge Resource – By the CXO, For the CXO.
Expert inputs on challenges, triumphs and innovative solutions from corporate Movers and Shakers in global Leadership space to add value to business decision making.Media@EnterpriseTalk.com