How Machine Learning Is Changing Recruitment
2 months ago - Mark Ashton
Something I am getting asked about more and more nowadays from HR and Hiring Managers; do I think I am going to have a role in the next five or ten years with the rise of automation in the recruitment sector. Basically, will I be replaced by a robot? Of course not.
However, there is no secret that machine learning is changing the way companies recruit, and recruitment as a whole. In this post, I look specifically at a local business in Cambridge called @thiswayglobal, and how exactly AI and machine learning is going to impact on recruitment in the future.
Machines are Already Widely Used
For a long time already, machines have been utilised to scan and sort various data sets. As the technology develops and advances, so does the tasks, these bots are able to perform. With new decision-making capabilities and the increased intelligence of these machines, the recruitment sector is a firm favourite for the deployment of AI in order to help recruiters find the best fit for their roles and businesses.
Applicant Tracking Systems and Mass Applications
Applicant tracking systems have become increasingly popular as an initial filter. Ever since the rise of job search engines such as total jobs, monster and fish4jobs, the number of applications that hiring managers receive has increased tenfold. Since the year 2000, and the rise of job sites that made it easy for people to apply for jobs, employers have been inundated with job applications. These systems allow for the CV’s to be filtered out, using specific criteria as set by the companies who are hiring and essentially, weeds out the CVS of the individuals who have skills that match the requirements of the post, from those who don’t.
Machine Learning Will Revolutionise Recruitment
One of the biggest challenges facing recruiters has been leveraging their networks in order to uncover great candidates that are perfectly suited to the roles they have on their boards. However, with machine learning, recruitment consultants and hiring managers alike can profile individuals work history, background, their skillset and more. It won’t do the job of a recruitment consultant, but it will help you to significantly narrow down the options to allow you to focus on those people who are prime for the roles you are looking to fill. It also boosts the ROI for recruiters as well. For example, when deploying machine learning into your early recruitment stages, it can use data held about how long a person has been with a business and deploy intelligence in order to ascertain how likely a specific individual is to want to leave their job in the near future. As we all know, time is money. So anything that helps to narrow down the amount of time searching for that needle in a haystack, and find them quicker is worth the money.
Harness the Power Of Your Network
The different applications that are available through machine learning to people in the recruitment sector are impressive. As I touched on briefly in the previous section; with the enormous amounts of data that are now available on social media sites such as LinkedIn, Facebook and Twitter; recruiters and hiring managers need machine learning now, more than ever, in order to effectively harness the power of their networks.
The incredible algorithms can crunch through profiles, posts and turn all of that data into a list of candidates or prospects that fit the role and business perfectly. Another element that makes this such an attractive offer is the speed in which this data can be analysed. No human could ever get close to this.
ThisWayGlobal – 360 Degree Hiring
One incredibly fascinating business that I have recently come across who has an office locally in Cambridge is @thiswayglobal. They offer an exclusive private platform that uses some really impressive technology to provide you with a solution that completely removes the monotony of the hiring process for businesses and individuals alike. Their broad offering will save businesses more than 50% in both money and time while negating a lot of the risks which are involved in the hiring process. Their unique learning algorithm takes just seconds to undertake a task that would normally take an HR consultant a full week. It qualifies candidates based on a range of different criteria such as:
- Culture Goals
- Travel requirements
- Cultural Fit
It really is an impressive offering and one that well worth a look.
But, as I mentioned at the start, I am not overly concerned that machine learning is going to replace recruiters. Although it certainly does take away an element of processing from the role. I am confident that in five or ten years that I will still have a job. However, for the early stages of the sourcing, and in terms of getting a prospect list together quickly, machine learning does have a place and will start to play an even more significant part in the early part of the recruitment process.