5 min read
How Conversational AI is Shaping the Future of Recruitment and Onboarding
An 85,000,000 person global talent shortage is expected to occur by 2030, a statistic that even with a big margin of error underlines the importance of hiring. It also indicates that retaining top talent is vital, yet employers often can’t stem the outbound flow of workers due to a misdiagnosis — 89% of employers think employees leave for more money but in reality, only 12% do. The bottom line when it comes to these two crucial trends is that HR must be a top priority for every organization. However, HR professionals are being sabotaged by their workloads — implementation of effective AI is the answer and early adopters will have a major advantage.
Steering recruitment in the right direction through an ocean of candidates
Amidst record-high unemployment rates, it’s a “recruiters market” but speed and personalization of the process are still very much vital for finding the optimal talent as opposed to just someone to fill the job. In spite of this, 90% of recruiter emails are not personalized and over half of job applicants never get a response to their application, creating a negative perception ripple effect that can spill over into sites such as Glassdoor. That lack of personalization and experience is often not a sign of laziness or indifference, but rather a byproduct of limited time paired with the need to act quickly.
AI-driven recruitment bots already exist and they address the issue by acting like a super-efficient filtering process. When it comes to experience they help candidates create their resumes or apply to a position with a resume of their own, but perhaps most importantly, they are now able to conduct initial interviews and understand qualifications based on what the candidate says. This ability allows for an automated first round in which AI can quickly filter out those who are not the right fit, pass on the right candidates complete with a summary of their details beyond a resume, and take care of initial candidate contact, ensuring personalization.
Recruiters can focus on what or who is important for a position
The Pareto Principle, otherwise known as the 80-20 rule is popular amongst performance hackers and asserts that 80% of results come from 20% of the work. The clear takeaway is that businesses and individuals should identify what produces the most results for them and focus most of their energy there. By implementing AI solutions, recruiters hand over 80% and even though it’s a big chunk of their time, that’s ok because they can focus those extra hours on the processes that provide the most value with pre-qualified candidates.
Employee happiness too comes from personalization
Anyone who is on an HR team has partaken in countless conversations concerning the employee benefits policy, vacation days, and the prize deals for that recruiting contest. While engagement and interest are both positives, those questions on employer policies and promotions constitute the 80% discussed earlier. One of our own customers had this issue and was able to help us launch an employee care channel where all those questions were answered.
The upside was that HR professionals could spend more time delving into the creative aspects of employee retention. From spending the time to resolve complex issues, to brainstorming and organizing new initiatives aimed at everything from “taking the temperature” of employee satisfaction, to the yearly company retreat. With 87% of HR managers considering employee retention critical or high need, automation is a no-brainer and happens to be the only scalable solution to tackle the problem
AI is poised to completely upend the HR profession and against the backdrop of increasing difficulties in recruitment and retention, that’s a good thing. Tech isn’t here to replace HR professionals, human nuance and connection are here to stay, but it will refocus them towards the most valuable and thought-provoking facets of their work. Making this shift to AI can no-doubt be met with hesitation or complacent attitudes, but those who make the transition as early adopters have an edge that starts with personnel but has the potential to transform whole organizations.