Artificial Intelligence (AI) technologies that turn data into meaningful information and tools have become integral to many aspects of hiring. Just think about advances in interview scheduling. We’ve come from recruiters making phone calls and leaving voice messages to chatbots that can find the common window in candidates’ and hiring managers’ calendars and set up a convenient interview time. The change in the scheduling process and the resulting experience is tremendous. And, this change isn’t even grounded in company-specific data.
Organizations that collect their pre- and post-hire data, and have the AI-enabled solutions to analyze it, are at the forefront of a hiring transformation. They’re able to understand candidates’ fit for specific roles and career opportunities more effectively than ever. What’s driving this new use of data in hiring? Two elements in particular.
First, advances in AI technologies, more specifically in deep learning and natural language processing, make it possible to analyze unstructured data. The information in resumes and from interviews can now be processed by AI, saving recruiters incredible amounts of time.
Second, advances in the way large organizations collect, store, and manage their data. In business functions like operations, customer service, and finance, they’ve moved from decentralized pockets of unconnected data to enterprise data management solutions. Data enablement across the enterprise allows for the use of AI technologies and increased performance specific to the business function.
HR follows their lead, capturing pre- and post-hire data and applying AI data analytics to create business value. TA teams are gaining high-impact advantages:
- Highly predictive, unbiased evaluation of candidate fit. Pre-hire assessments that leverage AI technologies and validated selection science give TA teams a faster, more accurate, and unbiased picture of candidates’ potential for on-the-job success and turnover risk. They reduce the risk of bias by evaluating candidates against standard core competencies and creating a consistent process for every participant. When pre-hire assessments are integrated into an enterprise hiring platform, they can easily be administered at scale for thousands of candidates. With the resulting hiring recommendations, TA teams can take only qualified candidates further along in the hiring process and narrow their review of resumes and application forms to only those best qualified. The result is hiring that is faster, more efficient for recruiters, more objective for candidates, and more convenient for everyone.
- Ability to provide candidates with feedback at scale. Feedback is vital to a positive and influential hiring experience. As Talent Board research has confirmed, when candidates are given feedback, their willingness to increase their relationship with a potential employer goes up by 20%. With AI-powered pre-hire assessments in an enterprise hiring platform, TA ensures candidates can receive relevant feedback on their fit for a real-time role, even in high-volume hiring circumstances.
- Automated talent mobility. New solutions that leverage data and AI can automatically identify qualified candidates for positions that match their skills and experience. TA teams are using this type of solution to uncover development opportunities for existing employees efficiently. It can also help TA teams maximize their candidate pool and hiring effort by automatically matching silver medalist candidates to other positions that are currently open and when others open up in the future.
- Assessment of ROI within the hiring process. TA teams gain the ability to measure effectiveness and efficiency within the process to determine the ROI of specific hiring strategies and tools.
With all of these data-driven capabilities, TA teams are creating the hiring process of the future, which is more efficient and more effective for job candidates seeking their best opportunity.