By: Pranav Ramesh

How Is Talent Sourcing Evolving With AI?

In the past decades, the recruitment process has shifted from newspaper ads to job posts and aggregators on the internet. Now, any dream job is just one click away and you can apply within minutes. And yet, the challenges did not end there, as hiring is still a thorough and time-consuming job.

HR professionals might feel like they’re on a permanent job — candidate screening, talent sourcing, applicant assessments and ultimately finding the most qualified candidates is an extensive and arduous process. Recruiters’ struggle to deal with the skills gap is a significant factor that makes them turn to AI software to find candidates and support their hiring decisions.

The truth is that HR’s priorities have shifted and it is all about quality, not quantity. To refine their hiring strategies, the number of recruiters searching for ways to automate processes and improve efficiency has increased by 8% compared to five years prior, a recent study shows.

The hiring process can be streamlined, accelerated, neutralized, and cost-effectively reduced thanks to AI software. Let’s take a look at some ways HR professionals employ these tools for talent management!

Utilizing Machine Learning Algorithms to Analyze Resumes and Job Descriptions

Machine learning algorithms are one of the key ways AI software is revolutionizing recruitment, as it makes it simpler for HR professionals to quickly identify the most qualified candidates by analyzing key skills and qualifications in resumes. Applicant tracking systems employ such algorithms for talent sourcing by checking resume patterns that might point to a candidate’s suitability for a particular position.

Candidates are matched with a job based on experience with a particular technology or industry that can be found using applicant tracking systems. For instance, AI-powered tools can be trained to recognize particular words and phrases that are frequently used in job descriptions and resumes in an industry or profession, such as “project management” or “agile development” in the technology sector.

AI tools, such as a resume aggregator, become beneficial for talent sourcing as it enables businesses to quickly analyze large sets of data to identify the talent they do and do not have, greatly improving the effectiveness and efficiency of hiring.

Implementing Predictive Analytics to Identify the Best Candidates for a Role

Even though candidate screening and sourcing take a long time, finding the best candidate out there is still a top priority for hiring managers. Predictive analytics can improve sourcing and cut down on the time spent manually screening potential candidates. Data and statistical algorithms are used in predictive analytics to find patterns and forecast upcoming events or results.

This can be used in the context of hiring to evaluate a candidate’s credentials, abilities, and experience to find the best fit for a particular role. For instance, a candidate’s prior work performance, educational background, and skill set can be examined by predictive analytics tools powered by AI software to forecast their likelihood of success in a particular role.

While applicant tracking systems help you shortlist the best candidates and rank them, predictive analytics makes forecasts based on chosen criteria. This is particularly helpful in finding applicants who may lack the required credentials but have the potential to excel in the role. Offering a more impartial evaluation of candidates can also aid in lowering bias in the hiring process.

Implementing Job Matching Tools to Connect Candidates with Relevant Opportunities

In their struggle to find the best candidates, businesses frequently receive an excessive number of irrelevant applications. Having hundreds of job applicants may appear positive in the analytics, but it doesn’t feel so good once you come to realize that none of them is the right fit.

AI-powered matching tools might be just the right answer to this problem! By examining a candidate’s credentials, abilities, and experience, these tools can match them with open positions that fit their qualifications, ultimately making the talent management process more effective.

Therefore, matching tools can automatically recommend an applicant to a particular position, easing the process. Natural language processing can be used to examine a candidate’s resume and compare it to the job description of an open position. If the candidate’s qualifications and skills match those needed for the position, the tool can match them with it.

As a result, HR professionals won’t need to spend as much time and energy on candidate screening!

Utilizing Virtual Assistants to Streamline HR Processes and Improve Efficiency

Research reveals that 41% of recruiting managers claim that the incomplete automation of manual tasks has led to lower productivity. As such, using AI software to streamline certain processes can save time on tasks that don’t necessarily need human input. Virtual assistants can automate procedures such as setting up interviews, sending follow-up emails, and responding to standard inquiries from candidates.

By minimizing repetitive tasks and interactions with job candidates, hiring teams can focus on more complex procedures and still enhance the candidate experience. A communication hub allows you to schedule meetings, keep track of candidate communication, provide feedback and stay in touch.

However, virtual assistants can be used for other processes as well. Those can direct candidates through technical assessment questions and schedule interviews only for qualified applicants. Moreover, virtual assistants can collect feedback from applicants who withdraw from the hiring process, assisting you in identifying potential areas for organizational improvement.

Is AI the Future of Recruitment?

The shifts we noticed in recruiting during the past years show that AI software is indeed helpful when it comes to candidate sourcing and talent management. As the job market is relying more and more on emerging technologies, it’s better to be ahead of time and start considering AI-powered technology for your strategy!

GabiLabs’ features were designed to help you hire faster, better, and more efficiently using the power of AI technology. Contact us to see how much you can improve your hiring strategy starting today!