The growing gig economy has added a new challenge to the organizations’ recruitment settings. While 62% of millennials believe gig work is a viable alternative to mainstream jobs (Deloitte Global Millennial Survey 2019), only 8% of HR Organizations believe they’re ready to manage gig or contract workers; thus opening new avenues for the use of technology in recruitment processes. Let’s see how AI in recruitment can benefit organizations in upscaling candidate experience, diversity and inclusion, and onboarding irrespective of geographical location.
How Organizations Can Leverage AI in Recruitment?
According to Grand View Research, the global HR management market is projected to reach $30.01 billion by 2025, of which Talent Management software will cover $13.8 billion worth of the market share. Advanced analytics, apps, and team-focused management practices will fuel the growth of recruitment technologies. The following are 5 areas where AI can out rule existing technologies and HR software.
Identifying the right candidate from a large applicant pool terrifies recruiters. Surprisingly, only 9% of organizations possess a strong screening technology, says Josh Bersin in HR Technology Market 2019. According to Ideal’s recruiting software ebook, almost 65% of resumes received for a high-volume role are ignored. Now that the inclination towards an alternative workforce is growing, HRs face additional pressure in shortlisting candidates for the organizations.
In the age where candidates have equal rights to question employers, automated responses aren’t just enough. AI-powered chatbots can not only automate the resume screening processes but also understand the candidates’ queries better and respond in real-time.
For example, Olivia developed by Paradox is a recruitment assista