Before you started your business, you may have been employed as well. If you were lucky, the interview process went smoothly.
But take a minute to picture this scenario. You enter the interview room. Most of the panelists seem to be pleasant and give you welcoming, encouraging smiles. But, you can’t help but notice that one of them barely looks at you.
The best way to describe her interaction with you is cold and disinterested. Her behavior is quite baffling. You are sure you have never laid eyes on her.
What you may not know is quite interesting. The hostile panelist could be suffering from one of the more than ten biases that affect the recruiting process. It could be something as simple as the color of your skin. Your curriculum vitae may have mentioned that you belong to a particular religion. One that she has a negative feeling towards.
Now, as a small business owner, you can’t help but shudder every time you think of that interview. You worry that your HR could be taking candidates through the same experience.
We have good news for you. You can eliminate such biases with the help of AI recruitment software. And, that’s not the only benefit, as we will highlight in our article below.
1. AI Recruiting Eliminates Bias
AI recruiting utilizes data to pick the best candidates. The company outlines the qualifications that best fit the open position. These include education, experience, and job skills. The software then looks for an ideal candidate.
Factors like race, gender, sexual orientation, and religion do not come into play. The results are better diversity, inclusivity, and transparency in the hiring process.
It is important to ensure the data the team feeds the machine does not contain any element of bias. Remember, the recruiting platforms are only as good as the data you feed them at the end of the day. They cannot eliminate bias if you do not get the fundamentals correct.
That is why some quarters may question the efficacy of such platforms. The element of human control is still very much a key feature.
As a small business owner, the onus is on you to ensure ‘clean’ data that does not have a whiff of bias.
2. Greater Efficiency With AI Recruiting
A typical recruiting process takes time and money. Reports show that a company will spend over $4000 per candidate for hiring and onboarding. The cost is high and your small business may not be in a position to afford it.
Yet, it is unavoidable if you look at the processes that go into hiring the right talent. HR advertises the job.
Potential candidates send in their applications. The teams spend hours going through the applications.
They then call in the potential recruits for interviews. In many cases, it takes more than one sitting to narrow down the best. Once they find the right one, there is a training and onboarding process.
Calculate the time the company spends in dollar amounts. You will see why $4000 is a conservative figure. Talent recruiters who utilize AI realize significant savings in time and money.
The software makes it easy to find candidates based on qualifications. It covers a wider search area on the internet, social media, and job boards.
By narrowing down the list, HR only spends time on the most promising. The company achieves higher efficiency and a shorter time spent in filling positions.
3. Talent Sourcing Within The Company With AI Recruiting Platforms
We have already talked about how AI recruiting software can find candidates from outside the organization above. But, the talent you are looking for may already be working for you.
Now, here is where AI can play a big role. The software will search through the existing database. It will identify individuals who have skills specific to the open position. It provides a fantastic opportunity to promote or move individuals to jobs better suited to their qualifications.
That receptionist may have marketing skills that he has never put to good use. The shop floor assistant could have an accounting background.
Looking within for talent improves morale. And, the company saves time and money by not having to go to the wider market.
4. Personalization And Better Engagement With Candidates
Without a doubt, the HR team handles so many tasks. Interacting with each and every candidate can become difficult. That is why you may apply for a job and never get feedback. A query about a position may not elicit any response.
Potential candidates end up feeling like the company does not care about them. In return, the recruits can talk about their negative experience in a public setting. It can end up damaging your reputation, which can be hard to recover from.
AI recruiting can help personalize interactions resulting in better engagement. Take the example of AI chatbots to handle queries from potential candidates. The company can save money when onboarding.
It is as simple as availing relevant information on the recruiting platforms. The employees then access the information at their convenience whenever they need it.
And that’s not all. The AI software can identify knowledge gaps or areas employees would benefit from some training. With such recommendations, HR can ensure the skill level is up to industry standards. The company can expect higher productivity which has a direct impact on the bottom line.
Ai platforms can help assess the suitability of the candidates for the position. A marketing manager dealing in childcare products may find it hard to transition to selling machinery. The software can identify such issues allowing HR to make more informed decisions.
Running a small business is tough, and comes with significant challenges. Finances, or rather lack of it, takes one of the top positions.
The second is ensuring that you have the right talent. Finding candidates with the right qualifications can be tough. Hiring the wrong people will be expensive for the company.
We have highlighted some of the benefits of ai recruiting platforms above. These include better candidate sourcing and hiring processes, devoid of human bias. The company will save time and money while increasing efficiency in the recruiting process.
AI recruiting platforms are, indeed, a game-changer. The software is a worthwhile investment for any company that is looking for the best talent.