A recent CNN story quoted only 12% of companies used AI last year to deliver not just a faster status quo, but a complete reinvention of the way they work. The automated learning that comes from AI solutions grounded in machine learning also delivers exponential returns to those who start early.
That same news story quantified those benefits as a 20% increase in cash flows over 10 years and the inverse is true as well – a 20% decline in cash flows for those that wait. These kinds of stats should trigger ‘FOMO’ for any enterprise business.
‘BC’ (before Covid-19), the motivation ‘to AI in HR’ might have been the automation of manual expensive HR processes, like recruitment, in a world of declining HR budgets and growing concerns about the bias we humans bring to those processes.
‘To AI’ your HR processes can also go beyond your bottom line. It’s a way to humanise your candidate experience, a way to reduce the asymmetry of recruitment, to empower both sides to make the right decisions. It gives you this kind of candidate feedback from a solution that looks like this.
Right now, curiosity about AI is being replaced by a burning platform for change. For those wearing the exhaustion of surge recruitment using old traditional processes (not to mention the increased chances of bias as a result), the case for change is obvious. For everyone else who does any volume of recruitment, 4 factors will accelerate the move to AI solutions.
1. The need for humanity in your people processes especially recruitment.
Even though tragically it will soon be an employers market as unemployment rises, any organisations, including government, that can make that experience better for job seekers is onto a winner. Nothing sucks more than having to line up at Centrelink, or fill out endless tedious application forms, and then hear nothing.
We ‘live’ on our smartphones, we expect convenience and immediate results, we want to be able to navigate a wide range of opportunities fast and make decisions fast. This applies to services we consume regularly (think Uber Eats, Afterpay, even banking services such as our next home loan). That immediacy and convenience is now the new norm for consumers, and candidates as a consumer of their next job are looking for the same experience.
Imagine if your applicants only needed to answer 5 engaging questions over a text conversation. Imagine too that every applicant received their own personalised feedback profile which helped them do better in their next interview.
Compare recruitment to applying for a bank loan where AI has been in use for a decade or more. That’s now a reality with AI in recruitment.
Use PredictiveHire FirstInterview to see how easy it is for you to give every job seeker a fast, simple and empowering experience.
And read what job seekers think about it here.
We specialise in volume recruitment for those roles where it is even more critical to hire the right people now. Frontline roles like your customer service teams, carers and health care workers, sales consultants, and blue-collar workers. Our ready-made predictive models are instantly deployable enabling you to go live in under an hour. When using our AI saves you at least $20 on every applicant, (i.e. if you receive 1000 applications, that is a saving of $20,000), and deployment is as easy a sending a link to your applicants, AI offers value to any sized organisation.
3. The right AI tool can remove bias from your recruitment and deliver a more diverse workforce
The ability to measure bias is one reason to use AI-based screening tools over traditional processes. The growing awareness that AI can be fairer for people prompted the California State Assembly to pass a resolution to use unbiased technology to promote diversity in hiring.
Avoiding bias is why we use text data to assess applicants. With 25 million words to draw upon in our data bank, across 10 critical volume hiring roles, our approach is both bias-free in its design and its execution. Our technology is built upon the advances in machine learning and natural language processing (NLP) that allow computers to gain valuable insights from large volumes of textual data
Our AI is entirely ignorant of race, age, gender or any of those irrelevant markets of job fit.
Marketing guru Seth Godin wrote a blog a few years ago on the ‘real skills’ that matter in hiring.
Whilst we all know what matters for our roles, our teams, our culture- real skills like resilience, curiosity, humility, drive and so on, these attributes are invisible in a CV and very hard to assess fairly and scientifically in a phone call or f2f interview.
Using text data, we can not only uncover standard personality traits such as extraversion, openness, humility but also real skills that matter such a drive, critical thinking, team player and accountability. Our data science team has recently uncovered that the language one uses in answering standard interview questions show a correlation to how likely they are to hop jobs. New hires that leave early cost significant time and money for organizations and identifying such candidates early on can help companies make better hiring decisions.
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