The future of hiring is here: Why your company should embrace AI to hire faster and smarter

In the current economic climate where many companies are trying to tighten their budgets, investing in talent acquisition (TA) technology may seem like an unnecessary expense. However, the benefits of artificial intelligence (AI) and automation in HR technology, especially in recruitment and hiring, cannot be overstated.

According to SHRM, 75% of HR inquiries will be initiated through conversational AI platforms by 2023, making it essential for companies of all sizes to embrace the opportunities that AI offers to improve their recruitment and hiring processes.

4 simple ways to leverage AI to optimize hiring hourly workers

Manual recruitment processes can be time-consuming and labor-intensive for recruiters. However, conversational AI can be leveraged in the following ways to streamline the recruitment and hiring processes for hourly positions.

• Sourcing and screening candidates. Conversational AI can be used at the top of the hiring funnel to screen resumes, ask candidates pre-screening questions, and provide real-time feedback, all while collecting and analyzing data on candidate responses. This data can then be used to identify top candidates, provide insights into hiring trends, and even help improve the recruitment process overall. By automating this aspect of recruitment and hiring, recruiters can save time, increase efficiency, and make more informed decisions about who to invite for interviews and ultimately hire.

• Streamlining interview scheduling. Conversational AI can also help streamline the interview scheduling process. By using AI-powered tools, recruiters can automate the task of scheduling interviews and reduce the amount of time spent coordinating with candidates. AI chat tools can quickly and easily arrange interviews, provide directions to the interview location, and even send reminders to candidates, all without the need for human intervention.

• Assessing candidates’ qualifications and capabilities. Using AI-powered assessments, companies can objectively evaluate candidates’ skills and abilities, ensuring they are hiring candidates who have the necessary qualifications for the position. These assessments can be tailored to the specific requirements of the job and can be used to evaluate a wide range of competencies, from technical skills to soft skills such as communication and teamwork.

• Onboarding new hires. Once a candidate is hired, conversational AI can also assist with onboarding tasks. By automating the process of providing information on company policies and procedures, AI can ensure new hires have access to everything they need to get up to speed quickly. This can include providing links to training materials, answering common questions, and even conducting virtual onboarding sessions.

The value of using AI to hire for enterprise businesses

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The use of AI in recruitment and hiring can streamline workflows, reduce costs, and lead to faster and more accurate decision-making, making it a valuable tool for enterprise businesses looking to hire at scale and stay competitive in today’s tight hiring market. Embracing AI technology as part of their hiring processes can provide significant benefits to enterprise businesses in the following ways.

• Long-term cost savings. While there may be upfront costs to purchase and implement AI tools, these tools can help save money over time by increasing recruiter efficiency, reducing time spent on manual tasks, and enabling self-service and automation. This can also help reduce the workload on recruiters and prevent burnout.

• Supercharged hiring speed. With legacy recruitment processes, companies can lose out on top candidates due to slow response times or a lack of availability from HR teams. By implementing AI, companies can provide immediate responses to applicants and ensure HR teams are available 24/7. This can help accelerate the recruitment process and ensure companies are able to attract and hire top talent.

• Improved candidate experience. AI can also provide immediate responses to candidates via automated messages and enable recruiters to focus on high-value manual tasks. This can help create a more consistent HR experience for candidates and ensure companies are able to incorporate their brand and culture into the recruitment process.

• Enhanced insights and visibility. AI can give you a more accurate glimpse into what works best in your recruitment process. By collecting data and analyzing recruitment metrics, companies can identify areas for improvement and optimize their recruitment strategies over time. This can help ensure companies are able to hire the best-possible candidates for their hourly positions and achieve their overall business goals.

5 things to think about before implementing AI

Before implementing AI in recruitment and hiring processes, companies should consider several factors to ensure a seamless experience for both recruiters and candidates.

1. Is the solution holistic? When considering implementing an AI-based recruitment and hiring tool, it’s essential to evaluate whether the solution is a holistic one that addresses the full hiring funnel, from job posting to onboarding, and if it provides a seamless experience for both recruiters and candidates. A solution that only solves one piece of the puzzle, such as just screening or scheduling, may not be enough to improve the entire hiring process, can lead to a disjointed experience for candidates, and may not provide the expected cost savings and efficiency gains that a comprehensive solution can deliver.

2. How will it work with your tech stack? It is also crucial to consider how the AI technology will integrate with the company’s existing HR tech stack, such as human resource information systems (HRIS), payroll applications, and employee engagement tools. Ensuring the AI technology can integrate with these tools seamlessly will allow recruiters to access and analyze candidate data and provide a better experience for both candidates and recruiters.

3. How can it reflect our company brand? The AI technology chosen should align with the company’s brand image and culture. By considering branding, companies can ensure the AI solution not only streamlines recruitment and hiring processes but also reinforces their brand identity.

4. What are some ways to begin with a small-scale approach? Starting small is often the best way to approach implementing AI in recruitment and hiring. Companies should begin with one part of the process and then expand on what works. By doing so, they can test and refine their approach before rolling it out across the entire process. Prioritizing the low-hanging fruit, such as the most manual tasks or the ones taking up the most time, can also help ensure the benefits of AI are realized quickly and effectively.
5. What type of security and governance measures are necessary? Security is crucial, and companies should consider data access and security to ensure they are aligned with governance. This may require involving IT or security teams in the implementation process to ensure all necessary precautions are taken.

Embracing the possibilities of AI

Despite the financial constraints currently faced by many companies, it is important to recognize the value of AI and automation in HR technology, particularly in the recruitment and hiring process. The use of AI in recruitment and hiring processes can provide significant benefits, such as cost savings, faster hiring, an improved candidate experience, and optimized recruitment strategies.

Companies should embrace the opportunities AI offers and use it to improve their recruitment and hiring processes. Before implementing AI technology in recruitment and hiring, companies should evaluate the comprehensiveness of the solution, ensure integration with existing tools, look for opportunities to infuse their brand into the process, start small, and prioritize security. By considering these factors, companies can successfully implement AI in their recruitment and hiring processes and reap the benefits of this exciting and innovative technology.

Fountain is a Labor ATS that is optimized for hiring high volumes of hourly workers and backed by an automated workflow that is specific to role and location. To learn more about Fountain’s AI capabilities check out this video and to see all of the Fountain platform in action, please request a demo.