Artificial Intelligence (AI), being the next technological evolution happening globally, has been transforming the entire recruiting world. No doubt, this has become the latest buzzword in the industry. In fact, 70% of the staffing firms globally have resorted to using AI, making their business run smoother. It can help your agency build a better and faster candidate pipeline and improve your employee retention rates. However, there's a common concern that people might lose out on their jobs with AI implementation in businesses. Almost 9% to 41% of Americans could be jobless in the next two decades. However, in a survey of about 1600 business and IT executives, Infosys had questioned the potential for AI. 85% of people said they would train their employees about the advantages of using AI. In addition, 80% said they would redeploy employees who lost their jobs due to AI technology.
Take A Look Below At How Adopting AI Can Help Your Recruitment Agency
How can AI help my staffing company? How can I save time and make my hiring process more efficient?
If these are your primary concerns, then you're reading the right article.
1. Helps In Automating Hiring & Workflows
When you implement AI into your hiring process, the very first advantage that you get is time. With this saved-up time that you have now, you can focus on more strategic tasks like training fresh recruits, spending time during interviews and so on. Usage of Applicant Tracking Systems (ATS) and Recruitment CRMs can help you automate workflows, parse resumes within seconds with more than 95% accuracy, candidate sourcing, screening and sorting. Moreover, keeping track of applicants and maintaining communication would become a piece of cake.
2. Easy Interview Scheduling
At least 60% of the candidates are lost before you can even schedule an interview and this happens regularly. Losing candidates at such a critical touch-point can be frustrating and mind-boggling for recruiters. Usage of AI can help you schedule interviews way ahead of time. Such conversational AI can not just manage scheduling interviews and easy coordination but rescheduling as well.
3. Easy Sourcing Of Passive Candidates
Using conversational AI in hiring passive candidates can be the most helpful thing ever happening to your staffing agency. Millions of passive candidates lying in your database remain unengaged, and trust us; this can be your ultimate goldmine. Artificial Intelligence can reactive these passive candidate profiles in your recruiting database and attract the best-fit candidates for open job roles.
4. Helps In Redeployment
You can open up a conversation with an ex-candidate that you'd placed on a contract basis before the end of their employment status. You can help them find the next position with ease by understanding where they would want to be placed, their change in interest and so on. With the help of an ATS, you can trigger conversations with such candidates, thus creating more placements via your recruitment agency.
5. Analyses A Staffing Firm's Big Data
What big data can staffing firms even have? Loads! Usage of AI in your staffing agency can lead to scoring candidates based on their history, attrition rates, how likely it is to complete an assignment provided, etc. Such analysis of data can help agency recruiters understand more about candidates and predict future actions. You would then come to know which candidates are going to perform the best and are worth retaining.
AI in recruiting can bring about some significant changes in the industry, which would otherwise be difficult. So what are you waiting for? The first step towards implementing AI would be investing in an ATS and conversational chatbots. So let us know in the comments below what are you doing to make your staffing firm perform better in this technological age?
