HR and business leaders across the globe have been increasingly advocating the adoption and application of the latest technology for better acquisition and management of talent.
The combination of technology and HR has significantly enhanced the effectiveness and productivity of HR interventions, most notably when it comes to recruitment.
A chief aspect of human resource management, recruitment is also one of the most expensive exercises for any organisation.
Companies spend millions every year on hiring campaigns, with the competition between organisations only increasing, making technological intervention imperative to gain an edge over competitors and acquire the right talent.
For instance, companies operating in industries such as IT, retail, hospitality, healthcare, etc. usually hire a large number of candidates each year, making it extremely difficult for recruiters to assess each candidate’s experiences and skills. However, AI-driven tools such as chatbots and talent assessment solutions can substantially improve the quality of candidates sourced and hired.
Let’s understand how.
The potential of AI-powered talent assessments
At its core, hiring is all about planning for the organisation’s future growth. So the question most HR managers and recruiters often have to ponder over is, which candidate is most likely to be perform well and add significant value to the organisation. Another question that often follows this one is how to retain them. With the adoption of AI in pre-hiring talent assessments, recruiters are better equipped to predict the outcome from hiring an employee. Once recruiters have built a considerable talent pool, conducting assessments before the interviews helps filter the best out of the rest.
Talent assessments, be it behavioural, cognitive, or skill-based, help to understand the prospects much better without spending long hours evaluating resumes manually. These assessments are vastly more efficient and can spare companies and recruiters from the trial and error method to find the best employee.
Consequently, recruitment analytics as a tool has evolved considerably to incorporate much broader hiring parameters, enabling recruiters to look for specific skills and qualities in candidates in a more efficient manner.
In addition, the use of predictive analytics with sophisticated algorithms helps companies predict future possible outcomes of a particular hiring decision enhances talent assessments and serves as a foundation for advanced psychometric assessments.
At the same time, advanced tools such as video-based assessment and psychometric tests provide a considerable edge in the hiring process.
They enable recruiters and hiring managers to accurately determine whether a candidate will be the right fit to the company’s culture, besides allowing them to assess their level of expertise across various skills needed for the job.
Combined with machine learning tools and Natural Language Processing (NLP) models, AI-based assessment tools can even create a candidate’s psychological profile and make sure that they are the right fit to the organisation’s culture.
Some of the most advanced assessment platforms today are capable of narrowing down the selection of candidates from thousands of applications received by an organisation to say, the top four-five percent. Furthermore, these AI-based platforms can analyse interviews on the basis of facial expressions, words used, tone and inflexion of voice, and micro gestures to assess a candidate.
Such AI-powered solutions can also eliminate bias from the recruiting process and deliver unparalleled results from any conventional, non-technology-driven recruitment process.
As AI continues to transform and automate elementary functions of human resource management, HR professionals can subsequently take on more strategic roles and contribute towards further strengthening an organisation’s talent acquisition and retention capabilities.
Artificial Intelligence-powered talent assessments not only help organisations recruit the best talent in the market, but also offer a greater competitive edge to an organisation, all in a highly time and cost-effective manner.
There is no doubt, then, that with the combination of the human element of HR management and machine intelligence-based insights offered by advanced talent assessment solutions, the potential of AI and automation in recruitment is simply huge.
News credit : yourstory