How is Generative AI revolutionising the way we hire and onboard talent?

In the ever-evolving job market, the revolutionary and transformative potential of Generative artificial intelligence (AI) in talent acquisition cannot be ignored. Yet, amid the promises and possibilities, there are often apprehensions and questions about its true impact.

Shedding light on the challenges and opportunities that AI applications bring to hiring and onboarding talent, Neha Mathur and Debi Kar, the co-founders of Generative AI-powered recruitment platform HYRGPT, go on to offer some perceptive insights into the world of fast candidate screening and evaluation, all made possible by the transformative capabilities of the technology. In the interaction, they also explore the synergy between human recruiters and HYRGPT, the critical need for safeguarding sensitive data, and the road ahead in the AI-driven landscape of talent acquisition.

Excerpts from the interview:

1.Can you explain in detail how HYRGPT works, what sets it apart from traditional hiring methods and existing AI screening tools available in the market?

HYRGPT addresses the stark inefficiency in modern recruitment processes. Seventy-eight per cent of HR professionals say the most time-consuming part of the recruitment process is identifying the right candidates, given that each job role receives around 250 applications. The issues of resume gaps, manual efforts, bias, false positives, and a cost per hire averaging around $4,700 further hinder the hiring process.

The lack of data-based actionable insights, coupled with an average time to hire of 36 days, contributes to the difficulty of hiring the right people quickly. HYRGPT is solving it using Generative-AI.

The idea behind HYRGPT is to help the organization find perfect candidates at lightning speed.

Current Time to Hire is increasing every quarter and TA team needs to enable businesses to do just in time hiring than waiting for 6-8 weeks just to hire one person. This is where HYRGPT brings massive difference and is designed to bring significant productivity increase for the recruiters.

* It starts with AI led intelligent screening of not just newly received applications but it can also scan existing talent bank to find the right match.

*After which, the Generative AI powered co-pilot connects with every applicant through email and WhatsApp with a personalized interview link. An instant response to candidates increases brand experience.

*Candidates can instantly complete first round of interview. HYRGPT Auto generates questions based on job description as well as the responses provided by the candidates. Within 20-30 minutes, it completes an in-depth skill based and behavior-based interview.

*Post completion, HYRGPT auto generates accurate score and interview summary that outlines the strength and weakness of the candidate.

Traditionally, screening and first round interview steps is the most time consuming part of overall hiring and inefficient screening, interview biases can significantly impact time to hire. By being able to intelligently screen, drive multiple in-depth candidate interviews simultaneously, generate real time insights and all of this at large scale, HYRGPT directly reduces the Time To Hire and saves cost.

2. Could you provide some specific examples of how HYRGPT has reduced hiring time and improved the efficiency of the recruitment process for companies in the pilot phase?

We have seen substantial effort reduction

Elapsed Time to Hire: Our process has cut the time to hire from a typical 4-6 weeks to under 1 week, allowing organisations to onboard talent swiftly. Recruiter's Time: HYRGPT has reduced recruiters' workload by 50-60 per cent, saving time spent on screening, coordination, and HR interview rounds. Hiring Manager's Time: Hiring managers also benefit significantly, with a 60-70 per cent reduction in interview time, allowing them to focus on critical tasks beyond interviews.

3. What industries or sectors do you believe are most likely to benefit from the adoption of HYRGPT, and why?

Information Technology (IT), healthcare, banking, financial services and insurance (BFSI), manufacturing, engineering and construction, retail, education, hospitality, telecommunications, consulting, pharmaceuticals, and biotechnology These industries are likely to benefit from the adoption of HYRGPT because they often face the challenge of hiring a combination of bulk volume and niche skills. ? Recruiters in these sectors have limitations in conducting technical interviews for every candidate, which adds to the overall time required for recruitment. Furthermore, these industries are highly competitive, and the need for better talent faster is paramount. With HYRGPT's ability to efficiently screen and interview candidates at scale, it significantly reduces the time-to-hire, ensuring that the best-suited candidates are identified quickly. This agility in the recruitment process gives organisations in these sectors a competitive edge by enabling them to secure top talent before their competitors. ?

4. You mentioned that HYRGPT conducts automated interviews with shortlisted candidates. Can you elaborate on the types of questions it asks and how it assesses candidates' technical or functional abilities?

Functional/technical questions, behavioural questions, scenario-based questions, open-ended questions?-?HYRGPT employs a combination of these question types to comprehensively evaluate candidates' technical, functional, and behavioural competencies during interviews. Before the interview, HYRGPT performs an automated resume screening. It quickly scans and analyses resumes, extracting key information related to the candidate's qualifications, skills, and experience. This helps in ranking candidates based on their suitability for the role. HYRGPT conducts proctoring-enabled personalised video interviews with candidates. During these interviews, it generates questions in real-time, without relying on pre-fed or static questions. This dynamic approach ensures that candidates face unique, contextually relevant questions, making the interview more engaging and precise.

5. How does HYRGPT handle the challenge of assessing candidates for emerging job roles or positions that may not have well-defined criteria? HYRGPT effectively handles the challenge of assessing candidates for emerging job roles by collaborating with clients to refine vague job descriptions, generating detailed job descriptions when necessary, tailoring interviews based on ideal candidate profiles provided by clients, adapting questions in real-time to evolving criteria, and providing data-driven insights to help clients refine their hiring criteria and processes. This flexibility and data-driven approach ensure that clients can effectively evaluate candidates for positions that may not have well-defined criteria, ultimately leading to more successful hires.

6. What are the common concerns or reservations expressed by TA/HR leaders when you present HYRGPT or generative AI in the context of talent acquisition?

In the realm of generative AI products, we've encountered two distinct groups of people. The first group, early adopters, eagerly dive into these innovations, looking to experiment and build something new. The second group is more cautious and skeptical, but notably, we haven't encountered anyone outright disinterested in the technology. Unlike traditional recruitment automation platforms, where some might say, "I don't need it; I already have something in place," generative AI products are different. People understand that they can significantly boost productivity. They are willing to give it a try, signing up for pilot programs to test its real-world effectiveness. Moreover, in a personal sense, HR professionals are seeking tools that don't just fulfill requirements but truly add value to their organizations. These tools can dramatically reduce recruitment time, which directly benefits businesses, making them more attractive than mere automation. So, we see two personas: the explorers and the adopters, both eager to experience the tangible benefits of this technology.

7. How does HYRGPT's approach differ from trying to create one tool for all HR tasks, and what specific area does it focus on?

The ongoing debate in HR revolves around the idea of having one comprehensive tool that can handle all tasks, but as a product developer in this ecosystem, we understand that one tool can't excel at everything. Attempting to do so often results in a basic automation platform, like an ATS or CRM. Our approach is more like a precision solution—a sniper, if you will—tailored to excel in specific areas. In our case, our focus with HYRGPT is to significantly reduce time-to-hire by automating the initial screening process. Our aim is faster, more effective hiring through technology.

So far, feedback has indicated that reducing noise in the recruitment process is a critical need. With the sheer volume of resumes received for any job in India and the availability of tools that can tweak resumes, candidates can easily bypass ATS. The HR teams face a substantial challenge in this environment.

Our solution is intended to reduce this noise, giving HR more time for other essential tasks. Many customers have found that by integrating our solution with their ATS, they can effectively manage the screening process. The integration is seamless, and we've designed our system to be user-friendly, requiring less than 60 seconds for a recruiter to initiate the screening process. All they need is a job description and a resume; no additional information is required. This streamlined approach is making a significant difference for our clients.

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8. HYRGPT is a tool to support decision-making and human judgment is still essential. Can you explain the role of human recruiters in conjunction with the software?

HYRGPT significantly enhances talent acquisition processes by automating many routine and time-consuming tasks, such as resume screening and initial interviews. However, it's essential to emphasise that this tool is designed to complement human recruiters, not replace them. Human recruiters bring critical skills to the table, including a deep understanding of company culture, nuanced decision-making for complex roles, relationship-building with candidates, and adaptability in unique situations. They play a vital role in providing a personal touch to the hiring process and ensuring that candidates are not just assessed for technical skills but also for soft skills and cultural fit. Additionally, human recruiters offer valuable feedback for fine-tuning and improving the AI tool over time. Together, HYRGPT and human recruiters create a synergistic approach that can lead to more efficient and effective talent acquisition, benefiting organisations and job seekers alike.

9. What data privacy and security measures are in place to protect the sensitive information contained in candidates' resumes and the interactions with HYRGPT?

HYRGPT prioritises data privacy and security to safeguard sensitive candidate information. It employs robust encryption protocols to protect data during transmission and storage. Access to candidate data is restricted to authorised personnel only. Additionally, HYRGPT complies with data protection regulations, ensuring that candidates' personal information is handled in accordance with legal requirements. The tool retains data for the necessary duration and ensures secure deletion when no longer needed. HYRGPT also conducts regular security audits and updates its security measures to stay ahead of emerging threats. Transparency is maintained regarding data handling practices, and candidates are informed about how their data will be used during the hiring process.

10. Looking ahead, what are your plans for the further development and expansion of HYRGPT, both in terms of capabilities and the industries it serves?

Looking ahead, HYRGPT is committed to continuous improvement and expansion. In the coming months, our goal is to streamline the job placement process for candidates, reducing the need for them to participate in numerous interviews during their job search.

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11. Why is it no longer a matter of choice but necessity to stay competitive? What potential advantages can organizations gain from embracing change and experimenting with new technologies, rather than being apprehensive about them?

In the rapidly evolving landscape we find ourselves in, the question isn't whether people will adopt these changes, but rather how soon they will do so. It's no longer a matter of choice; it's about staying ahead of the curve. If your company doesn't embrace these innovations, someone else will. They'll reach candidates faster, keep them more engaged, and ultimately gain a competitive edge.

Embracing this shift doesn't mean being fearful of it. Instead, organizations should adopt a startup mentality. They should be open to experimenting, exploring these new technologies, and determining how they can fit within their operations. It's about facing this inevitable change, adopting it, and then assessing whether it aligns with your organization's needs. Rather than being apprehensive, it's a proactive approach to stay relevant and competitive in the evolving market.

12. Are there any ethical considerations or potential biases that have been addressed in the development and deployment of HYRGPT?

In the development of HYRGPT, ethical considerations and the elimination of biases have been paramount. To ensure a fair and unbiased assessment of candidates, our AI-driven platform operates solely on the candidate's responses to questions generated from the job description provided. We intentionally avoid using any personal data such as demographics of the applicant, gender, past companies they have worked for or linguistic nuances, to make fitment decisions.

By solely focusing on knowledge and skill-based responses in relation to the job description, HYRGPT provides a transparent and unbiased evaluation process. This approach not only aligns with our dedication to fairness but also reinforces our mission to streamline hiring while upholding the highest ethical standards.

ENDS//