A New Landscape for Talent Acquisition
Artificial intelligence is becoming the most talked about trend in the recruitment industry, it is important for fast-growing technology companies to adopt the latest team management tools because not only do they help in breaking down business plans but also save time for the organizations in finding the right talent: Arif Khan, CPO, Sasken Technologies
Last year, Josh Bersin from Bersin, Deloitte Consulting LLP’s digital destination for the human resources professional, wrote an article in Forbes, in which he said that companies on an average spend approximately $4,000 per candidate on interviewing, scheduling, and assessment to decide if someone is right for a job. “We estimate that the entire recruitment market is over $200 billion worldwide, and nearly every employer is a participant,” he wrote. In its latest Global Human Capital Trends report, The Rise of the Social Enterprise, Deloitte examines the increasing expectations of the individual and the breathless pace at which technology is shaping organizations’ human capital priorities.
At a time, when artificial intelligence is becoming the most talked about trend in the recruitment industry, it is important for fast-growing technology companies to adopt the latest team management tools because not only do they help in breaking down business plans but also save time for the organizations in finding the right talent. SmartRecruiters, Jobvite, and Taleo are some of the most popular names in the recruitment tools or software category today. I will come around to the use of artificial intelligence in this industry towards the end of the article.
While talent management tools can help newer organizations or startups to start from scratch, they can help keep the talent alive and active across established organizations. From tools that help you with video/online interviewing to tools that help build a personal connect with the candidate. For example, tools that help trigger emails keep the candidate informed about every stage of the recruitment process. This gesture can serve as a differentiator for your organization to a candidate, who maybe talking to other organizations. Social media recruitment is suggested to be the biggest trend in online recruitment. 87% of recruiters use LinkedIn to evaluate candidates, 43% use Facebook, and 22% use Twitter, according to a 2016 Jobvite survey that polled 1,600 recruiting and HR professionals across several industries in the U.S. Checking out each and every candidate’s profile can be a laborious task for companies that have small recruitment teams, but large hiring requirements. The right social media recruitment tools can help draw information from the candidate’s LinkedIn profile and other job boards to showcase them in a single platform for your recruitment personnel, saving you time and hassle.
What happens to the enormous amount of data you are gathering from candidate profiles, resumes, etc.? Are you still maintaining a large database on an Excel Sheet? Then, it’s time to move on to some intelligent recruitment software that can help you archive and track candidates. What’s’ more? They can also hold immense benefits for hiring managers in Delivery teams. For example, if a hiring manager has a requirement from the client to hire someone with XYZ technology expertise, all they need to do is throw some search keywords at the tool and the software will find at least a few possible matches itself. This saves time for the hiring manager as it reduces the need to go to the middle men/women in the recruitment team. Nowadays, software can also conduct a pre-hire assessment and help find the most relevant and strong candidate. When the hiring manager shortlists some candidates, other sub-functions in HR can start health/background/reference checks on candidates simultaneously. Imagine the time you will save from prospecting to onboarding a candidate! Moreover, tools can also be connected with the payroll function through a centralized data system for ease in the entire project/sales lifecycle.
The adoption of intelligent tools and software to ease the recruitment process can help organizations mature in the dynamic learning market. They should consider moving away from legacy systems and adopt software based on Artificial Intelligence in order to save time, learn on the go, reach out to more relevant candidates, and stay au courant.
Sasken has adopted intelligent tools and software to help with the entire process from sales requirement to employment generation. Our applicant tracking system (ATS) is on Cloud with a web interface and our recruiters can access it from anywhere. Currently, we are incorporating Artificial Intelligence to automate the ATS which will help us in people analytics from prospecting to onboarding a candidate. We are using AI in the very first stage itself thus reducing the need for hiring managers to go to back and forth with recruitment personnel. This will help immensely by reducing the total time required for the entire recruitment process.