AI (artificial intelligence) seems to be 2018’s dominant theme in human resources and recruitment. The internet is awash with blogs about AI for recruiting – an emerging technology designed to reduce time-consuming HR activities and improve recruitment outcomes. What’s it all about?
Recruiting is indeed one of the toughest issues businesses face today. Finding the right talent is critical for business success, yet the recruitment and onboarding of a new person is expensive and laborious – hiring the wrong one, even more so.
It seems artificial intelligence and machine learning is on the way to solving some of the difficulties. AI and big data are also changing the selection process, not to mention video and social media becoming part of the interview process.
‘AI for recruiting’ software – some examples
We’re seeing some innovative AI companies take on the challenge, and more and more HR software seems to have some form of AI. Here are a few solutions and what they aim to do:
- StatusZero (featured at the H2 Expo held on 22 June 2018) keeps track of employees’ skills and learning to align them with their career progression prospects and the firm’s needs.
- InsideSherpa allows companies to run virtual internships that simulate the actual work involved in the role before starting the application process.
- Harver screens resumes (replacing the manual process) by generating engaging tests that assess candidates on tasks they’ll have to do on the job.
- Wade & Wendy a virtual assistant that is the first point of contact with applicants that then builds a trail of each interaction the applicant has with the company.
- Textio helps companies create better job postings to target the right candidates
- Ansaro unifies all the data that companies have about their employees to build predictive models that will help them hire in smarter way.
- X.ai helps to tackle the administrative burden of scheduling interviews.
- ClearFit saves recruiters sourcing time by automatically finding and ranking candidates.
- Filtered can help assess technical candidates through auto-generated coding challenges.
These tools have some great advantages so should we all get on board? If we don’t, how will our company compete in this environment? Will recruiters and hiring managers ultimately be replaced by AI, or will the human touch matter even more? And how do candidates feel in this brave new world?
German businesses in Australia discuss ‘The Future of Hiring’
These and other burning questions were discussed by industry experts at a recent German Australian Chamber of Commerce event on The Future of Hiring. German companies are at the forefront of many technologies so it’s not surprising they’re among the first to seriously tackle this issue.
Could AI replace your HR Manager completely? One of the guest speakers at the event, Nicolette Barnard, Head of Siemens Pacific HR, thought not. She cautioned businesses against relying on AI and big data as the most important variable in the recruiting success formula. AI and big data should instead help create and inform a healthy candidate ecosystem, alongside the emotional and cultural intelligence that is exercised by skilled recruiters.
Even though AI is far from being able to decide the best person for the job for us, both companies and candidates could ultimately benefit from AI by finding jobs and people that are an ideal fit.
See the German Chamber’s full event report Panel Discussion: the Future of Hiring and also this fabulous infographic capturing AI recruitment topics and themes live on the night by award-winning artist Luke Feldman!
Please contact us if you would like a great accountant and business advisor at your side – we are certainly in the midst of exciting times!