The Harvard Business Review (HBR) has published new research on how AI is making the recruiting process more effective.
The study, carried out with recruiting software platform Paradox, explores the impact that AI is having on talent acquisition. Results from the survey revealed that automation is driving positive outcomes. The majority (97%) of organisations that have adopted automated technologies in their hiring process, said it has helped hire people more effectively. This in turn has led to quicker interview scheduling and reduced candidate drop-off.
The research also showed that the majority of key decision makers (91%) believe optimising hiring processes with automation/AI is necessary for long-term success. “Leaders have recognised the competitive nature of attracting and hiring the best talent,” said Brian Delle Donne, President of Talent Tech Labs. “By taking a closer look at their priorities, their processes and their technologies, this focused attention is making a difference in their hiring outcomes. For some companies, getting this properly balanced has been a challenge. But it’s far from impossible. It is, in fact, a necessity.”
LEVERAGING INTELLIGENT AI FOR HIRING
Trucking company US Xpress is one example of an early adopter of AI and automation within its hiring processes. By leveraging an intelligent AI assistant to engage with candidates, help them apply, and schedule interviews, US Xpress was able to dramatically increase candidate conversion and reduce time-to-schedule interviews to just a few minutes.
“Businesses that struggle to find and hire job candidates with the right skills, especially when hiring in large volume, are going to immediately see the value of integrating assistive intelligence and automation into their hiring processes,” said Jacob Kramer, Senior Vice President of Talent Acquisition at US Xpress.
EFFECTIVE TALENT ACQUISITION TOOL
The survey also revealed other key insights on the use of intelligence-driven technology in recruitment. For example:
- 92% of respondents said their organisation needs to invest more into talent acquisition to remain competitive.
- 46% of respondents cited screening and assessments as the capability they most want to improve in the hiring process.
- Just 4% of respondents said that their organisation is currently “very effective” at hiring the talent it needs.
“We’ve always believed people should spend more time with people, not software. As paradoxical as it sounds, automation and AI are key to unlocking that,” said Paradox’s Founder and CEO, Aaron Matos. “We’ve been fortunate to partner with some of the world’s largest companies to revolutionise how they hire with Conversational AI; to help their teams get more done, in less time — with better experiences and outcomes for everyone.”
Matos said he sees a future where technology does the “boring and repetitive stuff”, and leaves employees to deal with tasks that shouldn’t be automated.
For a full copy of the report, click here.
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