A report from the McKinsey Institute suggests that AI will be responsible for the automation of 800 million jobs globally by 2030, affecting 20% of the UK workforce. Artificial intelligence is, however, also regarded as the ‘biggest commercial opportunity’ for today’s economy. Predictions suggest it could add 10% (c£232 billion) to UK GDP by 2030.
While a cause for concern, the report also notes that there will be a transformation in the type of work available as a result of automation. The number of AI jobs alone has grown by over four times since 2013. It is estimated that AI vacancies currently outstrip available candidates by two to one.
Preparing your workforce for the unavoidable impact of AI begins with HR in the hiring process. AI and automation offers several benefits and opportunities to enhance recruitment strategies:-
AI powered candidate screening
More focused, rapid candidate screening reduces your time to hire and improves the overall candidate experience. Based on the common traits shared by your most successful hires – available in your recruitment analytics – your ATS delivers a shortlist of close match applicants quickly. The algorithms in AI also enable HR to predict the candidates most likely to succeed based on historical recruitment data. Additional pre-hire screening to provide a more defined talent pool can be integrated through your ATS, including video screening and psychometric tests.
Better hiring decisions
Despite the advances in technology, over three quarters of hiring decisions are based on the interview. This tendency to make snap decisions after meeting a candidate is contributing to the rise in poor retention levels among new recruits and low levels of engagement in the workforce. Less than half of employees across 11 key sectors state that they feel engaged at work, with a subsequent effect on productivity.[1]
Making hiring decisions supported by the data in your ATS helps to alleviate these low levels of engagement by getting those critical recruitment decisions right first time. Furthermore, AI can be introduced across the workforce to improve engagement levels. Nearly half of employees are bored at work – by automating repetitive tasks, more meaningful work can be offered to your employees.
That begins with automation of time consuming, administrative tasks in recruitment.
Tackling unconscious bias
In a recent survey, the Adecco Group notes that a just a quarter of UK employers would consider using AI to deal with unconscious bias in recruitment procedures[2] yet around one third of hiring managers admit to hiring ‘clones’ of themselves. Adjusting the screening criteria in your recruitment software helps to reduce the potential for unconscious bias and expand your candidate reach. The report also recommends training in unconscious bias to ensure that technology does not amplify those biases.
Creating better relationships in hiring
Josh Bersin of Deloitte observes that the relationship between recruiter and hiring manager is one of the most important to avoid hiring the ‘wrong’ people.[3] This also extends to the relationship between the hiring manager and the candidate.
Investing in an ATS helps to enhance those relationships in the following ways:-
- A dedicated agency portal tracks and monitors the agency referred candidates in your ATS and enables you to invite selected agencies on your Preferred Supplier List to submit candidates to specific job openings.
- Automating processes enables HR to engage in personalised conversations with the talent in your pipeline and across your talent communities.
A note on the AI mindset
The development of an AI mindset is essential to overcome resistance to automation in hiring processes. That mindset is described as one that understands that AI:-
- Supports human capabilities, rather than replaces them.
- Automates repetitive tasks, giving HR the time to focus on high value activities.
- Contributes to faster and smarter hiring decisions.[4]
Learn how AI and automation can contribute to faster and smarter hiring decisions and streamline your hiring process. Sign up for our free 10 week Recruit Masterclass series, with weekly lessons delivered straight to your Inbox, starting today.
You might also like to read:-
Your AI Recruitment Glossary For Beginners
How To Attract Talent In A Candidate Scarce Market
Sources
[1] Qualtrics UK Employee Pulse Survey 2017
[2] Adecco, Understanding Unconscious Bias, November 2017
[3] Bersin by Deloitte, HR Technology Disruptions Report 2018
[4] CIO.com, The AI Mindset, Designing The Workforce Of the Future, 7th December 2017
