The Surprising Ways AI Elevates the Recruiting Industry

Artificial intelligence (AI) is transforming the recruiting industry in more ways than we ever imagined. Within applicant tracking systems (ATS), even basic AI products and integrations have the ability to drastically simplify recruiters’ workflows by automating menial, time-consuming tasks. This empowers recruiters with more time to spend on value-added activities, including business development and candidate networking.

However, within well-built software, AI’s impact extends further than efficient automation. For example, recruiters with access to leading ATS systems have the ability to leverage AI capabilities for sourcing and hiring quality candidates faster than their competition. This not only saves critical business hours, it also reduces the expensive mistake of hiring the wrong person for the job.

According to the Society for Human Resource Management, it can cost a company as much as $240,000 to find and hire a new employee. Beyond the astronomical price tag, this can also take a toll on manager patience and colleague morale.

To complicate matters further, CareerBuilder found that companies often feel rushed to fill critical roles. In fact, one of their surveys revealed that 43% of respondents “hired the wrong person because they felt they had to fill the position quickly.” With its ability to productively source from mass amounts of data, and streamline engagement with suitable job candidates, AI can help significantly mitigate this risk.

So What Exactly is Artificial Intelligence?

We can’t delve too far into this topic without first understanding what AI is, in relation to recruiting. Top-notch ATS systems with AI functionality are able to perform complex tasks by processing large volumes of data, and recognizing the patterns within it.  As more data is entered, the software continues to “learn” and improve its output.

With its ability to interpret mass amount of information, AI algorithms can do in an instant what once cost countless hours for recruiters.

AI automates recruiters’ low-level tasks and provides deeper insights, freeing time to focus on advancing the business.

Below are just some of the ways AI has already changed the industry:

AI Analyzes Sourcing Data Quickly

As mentioned, AI is capable of rapidly analyzing big data. Without a productive ATS system, recruiters are required to hand-pick qualified candidates and accurately match them to appropriate job orders.

On the other hand, a well-designed AI algorithm can quickly scan through the combined information captured within the system, and/or desired websites, in order to select top talent and automatically match candidates to roles based on their skills and experience. This enables recruiters to increase their volume of high-quality placements.

AI Maintains Communication and Interaction with Applicants

Top recruiters understand the importance of fostering strong relationships, even with candidates yet to be placed. However, with thousands of incoming applicants per job, sending a unique response to each individual can be an extremely time consuming task. That’s why, leading ATS software like Mindscope has the ability to streamline responsiveness while maintaining personalization.

Mindscope offers a unique AI feature that integrates directly with users’ email, and allows them to respond to applicants with the click of a button. At the same time, it updates their pipeline status in the ATS. Each time a job application is received, recruiters can simple click “accept,” “reject,” or a user definable “open text” button from within the email.

The AI understands that each button is intended to send a personalized template to the job applicant, while linking their record to an action within Mindscope. For example, if the recruiter chooses the “reject” button, then the applicant will receive a unique rejection email and their status within Mindscope will be updated accordingly. Not only does this features save time, it also crucially maintains a clean and organized ATS database.

AI Enhances Candidate Experience

Not only does AI simplify the recruiter experience, it also benefits candidates. Today’s leading ATS systems harness AI in order to streamline the candidate application process, therefore guaranteeing more top talent for their users. Potential quality candidates are deterred from poorly designed web integrations that require filling out tedious jobs application forms.

According to Society for Human Resource Management, a whopping 60% of job seekers quit filling out job applications midway due to length or complexity.

For this reason, most recruiters seek out ATS systems whose integration allows for auto-fill enabled forms. Providing the option to parse information via resumes and LinkedIn increases the likelihood that candidates will complete the application. AI also empowers recruiters to automate email notifications, informing candidates that their applications have been received and what to expect next.

AI Reengages Candidates with Automatic Job Notifications

Most passive candidates tend to keep their eye on the job market, curious about new opportunities. AI allows recruiters to be first at capturing the attention of these individuals by sending tailored job notifications based on their skills and interests.

ATS systems, such as Mindscope, offer the ability for web visitors to request automatic notifications tied to job postings that match certain key words. This feature allows recruiting companies to reengage skilled candidates at exactly the right time, so that quality placements can be made more effectively.

AI Will Continue to Evolve the Recruitment Industry

AI has already transformed recruitment and will continue to do so. Experts insist that the AI technologies currently on the market are just the tip of the iceberg for what’s to come. It is expected that within the next 10 years, we will see a significant influx of AI technologies making their way into the industry.

Should recruiters be worried? No. In fact, they should be thrilled. As long as companies are open to adopting new technologies, AI can be extremely advantageous. As technologies continue to develop, recruiters will have more time to do what they do best – build strong connections with the people, while machines do the rest.