Will Amazon’s Alexa be your next Chief Talent Officer?
Artificial intelligence (AI) is everywhere, now in recruiting people at companies. Is this good?
We´ve all heard of someone not getting a response after submitting an application and companies struggling to find the right candidate, meaning that even the best resumes of the most qualified people lose their way through the corporate pipeline.
A 2016 Forbes article reported 85% of applicants don’t hear back after submitting an application—while 71% of employers claim that they can’t find a candidate with the right skill set, reflecting a clear rupture among corporate recruiting.
More and more, company softwares have been strongly adopting AI tendencies to develop a more dynamic and efficient process of hiring.
These are some examples on how AI is revolutionizing the workplace:
- Chatbots | Customer service is moving into the future with chatbots. According to research by Forrester, five percent of companies worldwide were using chatbots regularly by 2016, and 20 percent were piloting them. Sixty percent of millennials already make use of them.
- Mya | Mya is an AI created by FirstJob to automate up to 75% of the recruiting process—and one day, perhaps the whole thing. Now there is one more hope: Alexa, the Amazon AI assistant.
- Beamery | According to Harver, Beamery focuses on treating candidates like customers. The company’s candidate relationship platform ‘proactively builds relationships with passive candidates, reduces hiring cycles and creates a single source of truth for all your hiring data’.
Digital recruitment, a must for any company
Digital recruitment –think Monster and LinkedIn– is routine today. But what if a voice-powered AI assistant like Amazon’s Alexa could find the best candidate for a critical role just by asking it?
By leveraging the power of social networks and data and analytics, enterprising employers already are sourcing, screening and retaining talent more efficiently and effectively, so this scenario is not that far away.
Networked talent sourcing. Oracle’s subsidiary Opower employs such talent analytics to hire about 200 employees annually. And it specifically uses a big data approach to identifying diverse talent most receptive to a job change. As a result, female hires increased to 47% from 40% and minority technical hires jumped to 11% from 1.5%.
Analytic screening and assessment. Google has used people analytics to identify false negatives in rejected candidates based on profiles of successful employees, and it subsequently asks missed candidates to reapply. Xerox uses online tests that have cut attrition by 20%.
Predictive retention. A US insurer, for example, used analytics to show that the quality of direct supervisors, recognition and training most determined turnover. This enabled the company to eliminate costly signup bonuses that had little impact.
These examples only scratch the surface of what’s already possible in securing and retaining talent. “They serve as a harbinger of the transformation ahead – thanks to people analytics”, McKinsey concluded,