Table of Contents
Introduction
Ever since the term, ‘automation’ was coined in 1946, it has been forming an identity in every domain across the globe. From business models to core operations, organizations are exponentially incorporating automation and technologies on multiple platforms in terms of speed, size, and scope. Automation is another popular term for digitization. In the world of economics, it simply means that the companies do not incur diminishing returns to scale.
Automation in Recruitment
Take recruitment automation for example. What was once thought of as only a depository for resumes is vastly revolutionizing the world of recruitment and hiring. Though Human Resources is an opsimath in automation adoption, sourcing through resumes, scheduling interviews, or predicting outcomes has never been faster and more transparent. Recruitment software relieves hiring managers mundane and labor-intensive tasks. Mindful of the various meanings and definitions, logiclabsai.com defines recruitment automation as the incorporation of artificial learning and machine learning technologies to understand, evaluate, and learn from the qualifications and characteristics of applicants.
Recruitment automation is deployed in three stages:
- Filter through a heap of resumes and job applications against a pre-set criterion.
- Arrange interviews at the convenience of both candidates and the interviewer. Nowadays, one-way video interviews need only the candidate’s time.
- The candidate’s assessment report is submitted to the recruiter and he/she is hired at the behest of his/her performance and other analysis.
Source: logiclabsai.com, 2019
Advantages of Recruitment Automation
Eliminating Bias and Promoting Diversity
Or call it algorithmic fairness. Earlier the function was under the constant radar of intuition and (human) subjectivity. The unconscious (or conscious) manual bias against color, gender, and other forms are significantly addressed through automation. A large part of the credit goes to recruitment automation for a diverse workforce in many companies across the world. Many talent intelligence companies like logiclabsai.com, for instance, are creating automated assessment tools that not only eliminate bias but also hold the greatest promise of being ethical. This not only brings fairness to the recruitment system but also open to audit at any point in time.
Expanding the Candidate Pipeline
One key reason behind implementing recruitment automation is assessing the entire pipeline of candidates rather than shrinking the pipeline due to time and manual constraints. While the global pandemic has ushered new models of job structures, remote hiring and remote working have a paved path for tapping unexplored hiring processes. Algorithm-based hiring has made relationships stronger and trustworthy between recruiters and candidates or new joiners, which means the better employee and candidate experience. From automated assessments to virtual onboarding, the hiring landscape has been made much reliable and relevant, all thanks to automated hiring technologies.
Finding Quality Talent
While experts agree in a liaison that finding quality talent is the biggest challenge in recruiting, the quest to discover quality talent has been extraordinarily robust due to tool and platforms in hiring automation. Quality talent or candidate persona refers to discovering skilled and vetted candidates against a job persona. Finding quality talent is easier through recruitment automation because AI and predictive analytics assess the ‘best-fit between candidate and job much better and quicker than manual decisions. A strategic combination between talent mapping and big data is already creating ripples in hiring innovation, ensuring faster talent engagement, and staying relevant among top candidates.
Skill-Based Screening and Assessment
Well, it means the classic rule: “Never judge a book by its cover” and in recruitment, it also means never lose a chance of hiring a potential candidate. It has been observed that 78 per cent of resumes contain misleading statements and 46 per cent are filled with lies! Never a management fad, but a proven way to seep through a volume of candidate resumes. What’s more, skill-based screening has a direct impact on job performance too. In the earlier times, skills came into the picture only at a later stage in the interview process, but recruitment automation being a game-changer in the hiring process has assessed skills in the preliminary stage right away. This saves the company a lot of time and resources and allows it to shortlist candidates efficiently. And yes, companies have escalated their hiring cycle by almost 98 per cent through skill-based assessments!
Data-Driven Hiring
Data is the new oil and how can the recruitment industry be far from it? Data-driven hiring processes make candidate discovery easier and simpler. Statistically speaking, more than 75 per cent of recruiters believe data intelligence would make them more successful at their job and 55 per cent of them trust ATS and CRM as an important source of hiring.
Source: logiclabsai.com, 2019
The Importance of Candidate Experience
Recruitment automation captures real-time candidate data and schedules interviews at the candidate’s convenience. For example, Glider’s phone screen interviews enable recruiters to get candidate’s insights right through their phone screens. These visual proctoring assessments ensure the integrity, genuineness of the candidate and increase their experience. In a hyper-connected world like ours, remote working or online hiring is increasingly bringing automation right into our homes which also means organizations are increasing their spending on sourcing the right talent. But why talent analytics? Simply said, it is software that gathers insights and metrics of a company’s workforce and potential candidates and helps make enhanced decisions about their performance and productivity. Talent analytics go beyond ATS and CRM in sourcing the best candidates possible. With talent analytics, recruiters can look at a lot more metrics than traditional spreadsheets. From estimation on time-to-fill to talent supply chain and from candidate touchpoints to employee engagement, recruiters can make sure that they stay competitive and relevant.
Source: logiclabsai.com, 2019
Enhancing Employer Branding
The right recruitment automation can optimize such kinds of endeavors and update the candidate’s status in the recruitment funnel periodically. Candidate experience is one domain where the deployment of recruitment automation makes good sense. Because it is always a good idea to have a winning candidate experience with the support of tech advances. But a major concern is how much automation is too much automation? This is where hiring managers need to draw a line. While tasks like sourcing and screening, interviews and assessments, career sites, and social media are surely beneficial, yet interactions between candidates and employers are key in enhancing positive candidate experience and therefore are irreplaceable. As per SHRM, approximately 82 per cent of candidates report that an ideal recruiter interaction is one that has the right mix of innovative technology and personal, human interaction.
In this regard, recruitment automation/recruitment CRM empowers recruiters to have better conversations, make sound decisions based on data. All in all, it means automation is not replacing recruiters but is humanizing the recruitment process.
Conversion Rates and Time-to-Fill Reduction
The percentage of successful placements made from the total jobs worked by a recruiter is called the Conversion Rate. Also, let’s look at some corresponding statistics. The recruitment funnel conversion rates are like this: a whooping 69 per cent goes into hiring a candidate, 32 per cent into screening interviews and 1.2 per cent into offering acceptance. Bring AI and automation into the picture, there has been a reduced time-to-fill by 75% on average. Not only that, but multiple stages of the recruitment funnel can also be managed and tracked with the deployment of the right ATS. Better hiring rates mean a better yield ratio, or high-volume hiring in other words. Gone are the days where recruitment teams used to manually screen large resumes, vet, and schedule bulk interviews. Recruitment automation and technologies ease a load of manual labor through tools like a resume parser that screens a resume in a fraction of the time, chatbots that can converse with potential candidates, assess them digitally, and even schedule interviews that can schedule one-way mobile interviews at the candidate’s convenience.
Like a wormhole that can warp space-time, recruitment automation can reduce the numero uno pain point: resume screening. As a result, recruiters can shed those herculean recruitment tasks and augment their time for productive dividends. Talent intelligent companies like Glider.ai can help employers hire qualified candidates faster through advanced AI and automation hiring tools like AI-powered stack ranking, video interviews, and real-world assessments.
A quick journey through Glider’s website will provide a good understanding of all the benefits of recruitment automation just discussed till now. No wonder, Glider.ai is trusted by leading employers and agencies worldwide.
Source: logiclabsai.com
Conclusion
In conclusion, recruitment automation offers numerous advantages in the talent recruitment process. It eliminates bias, expands the candidate pipeline, helps in finding quality talent, enables skill-based screening and assessment, and utilizes data-driven hiring processes. Furthermore, it enhances employer branding, improves candidate experience, and increases conversion rates while reducing time-to-fill. Recruitment automation is not meant to replace recruiters but rather to augment their efforts and make the recruitment process more efficient and effective. By leveraging AI and automation tools like Glider.ai, employers can streamline their hiring processes and make better decisions based on data analytics. In a fast-paced and competitive job market, recruitment automation is a valuable asset for organizations looking to attract and retain top talent.
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