AI has changed the HR and Recruiting landscape

Today we live in a very interesting era, at the cusp of a technological evolution with AI imprinting its presence across major industries with pilot business solutions. Boardroom conversations circling around Artificial Intelligence and its impact on the business have become the norm. As per a recent report by McKinsey Global Institute , around 14% of the workforce around the world will have to go through a tectonic shift in their profession in terms of their role and potential growth that comes with it. Industries are beginning to re-evaluate their next 10 years and even more, with AI as one of the key contributors to its success. This is not new; Industries are often used to these major technological trends every now and then. It's just that this time it's not a trend, Artificial Intelligence is a game changer that redefines the entire industry standards for the better!?

We are already witnessing the tremendous surge of AI usage across marketing and content creation industries. Another major business function that has welcomed it with open arms is HR and Recruiting. A recent survey by Deloitte Consulting detailed that around one-third of the industry have already started using AI to streamline its HR and recruiting process. And it’s a known fact that this number is potentially growing to historical numbers.?

As the modern workplaces are charting out the complexities that come with AI, it has also become equally imperative to maintain a balance between adopting technology and maintaining as much human interaction as possible. AI has posed some opportunities and challenges along the road.?

Opportunities for recruiters

AI has opened a lot of doors for recruiters to align their recruiting process integrated with AI rendered analytics. One such tool that is making a wave is Jobster.io . The lengths and breadths that Jobster.io can delve into, it has enabled the recruiters to strategically make decisions, based key-point metrics right in front of them.?

• AI leveraged platform read through large volumes of data from resumes to analyze and present the best-suited candidates for the job, saving the recruiters with manual screening. Moreover, machine learning has simplified the process of matching the keywords, experience and the right skill set. According to AI Recruitment statistics, around 87% of the industries use AI for their recruitment process.
• Traditional recruitment process often falls short on assessing the impact of social media in hiring the right candidate. AI driven platforms such as Linkedin For recruiting or Entelo, a recruiting automation platform screens the potential candidates simplifying the process even further ensuring quality hire

• Unbiased screening process has improved diversity hiring ensuring focus on qualification rather than demographics?

Jobster.io have been running a successful model that use modern day AI scheduling tools and AI – driven chatbots creating a seamless experience for the candidates

• Predictive analytics in hiring evaluates prospects and workforce trends that helps recruiters make an informed decision driven by data. For instance, major data points in the employee resume can bridge the gap in skills and staffing. Organizations can now scale to new levels in terms of scanning potential candidates not having to worry about paying overtime to their HR personnel
• AI Statistics recently posted how the HR process laced with AI has contributed to around 40% cost reduction in the hiring process in North America in 2022. Numbers don’t lie and exponential growth in these numbers is making CXOs happy across the board

Face the uncomfortable questions

Flipside of the coin, there are still many uncomfortable questions that need to be addressed.?

• Technology has grown leaps and bounds but has always remained tongue tied when it comes to privacy and data security. AI cannot be an exception, there is large volumes of personal data and information processed which leaves it open for compromise and breach. We are yet to see a robust firewall mechanism which can expose the businesses to unnecessary legal implications
• One of the key take-aways from a global survey by 2024 AI Workplace report of more than 7000 employees say that 24 business days a year has freed up for businesses. Businesses are ecstatic seeing these numbers. However, lets face the truth, are all the employees equally excited? Some see this as an opportunity for upskilling, yet there is a section who doubt they will be handed pink slips. There is a resistance to this change that must be addressed by building trust along with proper channel of communication around the necessity of AI can alleviate some of the inhibitions and fear
• AI, as easy it is to understand, can pose challenges in terms of metrics used for the selection. Justifying AI data driven decisions is a grey area that the trade pundits and lawmakers are grappling with from a legal and ethical standpoint
• Small businesses still see AI as a distant dream due to its high operational and implementation costs. Integration and training costs can run high depending on the scale of implementation

?A new age revolution in HR – the way ahead?

The challenges posed by AI are not deep valleys, what goes down never sees the light of the day. It is a modern-day revolution that ushers a new era of human resources. The organizations that are put through the roughing and edging will be the ones that shine bright.?

The future of HR with AI by its side, will be much more agile and dynamic that sees a fresh influx of talent and skilled professionals. With AI tools like Jobster.io integrating with HR, organizations can now focus on building a strong workforce that is inclusive and committed to the organizations’ growth.?

Ultimately, artificial intelligence working together with the mind of the most advanced species evolution has ever seen, is the perfect recipe for success!