Can you imagine having access to a virtual assistant that assists your enrollment in selection processes? Today, this is becoming a reality!
Leveraging AI in HR
The traditional method of finding job applicants is slowly being replaced by recruitment software that utilizes resume parsing. This involves the use of specialized scanners or software apps to analyze resumes found online, and recruiters can only begin verifying resumes at a later stage.
Machine learning algorithms are used to identify relevant information on resumes, which saves time and eliminates prejudices during the selection process.
In fact, 98% of F500 companies use an Application Tracking System (ATS) to pre-filter resumes.
Therefore, it’s essential to follow basic rules when creating a resume to have a real chance of getting hired by an AI-powered recruitment system.
AI saves hiring managers countless hours by filtering through resumes and presenting only the most suitable candidates.
The selection process is highly accurate, with a 90% relevance rate, and 7 out of 10 hiring managers consider it an excellent tool.
Many companies have started using AI-based resume screening to streamline their recruitment process and improve their hiring outcomes.
Here are some examples of companies that use AI-based resume screening:
Hindustan Unilever Ltd. the consumer goods giant, uses an AI tool called Pymetrics to evaluate candidates’ cognitive, social, and emotional traits based on a series of online games. The tool’s algorithm matches the traits to the company’s success factors and identifies candidates who are most likely to perform well in the role.
Hilton Worldwide, the hotel chain, uses a software called Hirevue to conduct video interviews with job applicants. The tool uses AI-based facial recognition to analyze candidates’ facial expressions, tone of voice, and body language to assess their fit for the job.
Goldman Sachs the investment bank, uses an AI-based tool called Atlas to analyze candidates’ resumes and LinkedIn profiles to identify their skills, experiences, and qualifications. The tool also recommends interview questions for recruiters based on the candidate’s profile.
IBM uses an AI-based tool called Watson to screen resumes for job openings. Watson analyzes resumes based on the job description and uses natural language processing (NLP) to identify the most qualified candidates.
Loreal the beauty company, uses an AI tool called Seedlink to analyze candidates’ resumes and match their skills and experiences to the company’s core competencies. The tool also uses a machine learning algorithm to learn from previous hiring data and improve its recommendations over time.
We have heard of many hiring managers losing potential candidates to their competitors because the latter shared their resumes on different email IDs. Catering to this dilemma, make sure to use a one-time configuration setup that can help HR personnel access candidate data and fetch information from multiple inboxes.
