Chris Nicholson, co-founder and CEO of AI firm Skymind, told CIO that “The question everyone’s trying to answer through all the interviews, screenings, tech and coding challenges, is, ‘How can I predict someone’s performance?’”.
Explaining the importance of AI in talent acquisition, Nicholson said, “The smartest recruiters and hiring managers would start gathering resumes, performance reviews, work product, any information at all about highly successful people that already work for them and plug that into an algorithm to figure out what you are looking for. The system can then help distill and point them to the right candidates accordingly.”
2. AI boosts candidate engagement and performance
AI in recruitment can significantly improve candidate engagement through improved communication between candidates and employers. According to HireVue, the market leader in video interviewing and AI-driven video and game-based assessments, its system has increased quality of hire by up to 88% and new hire diversity by 55%.
This is because it performs a preliminary analysis of the candidate’s resume for cross-checking the skills, speeding up the recruitment and hiring process when there are many applicants for just one job opening.
Furthermore, analytics can allow HR managers to easily identify the activities that can have the maximum impact on the performance of the employee. The organisation can then direct their effort to the initiatives that would attract the maximum engagement level. They could also predict the red flags, for example, the employees who are underperforming, whether they are likely to perform better or worse in the future, and more. The managers could use the information they’ve gathered to plan the right strategy to improve the performance of their employees.