Obligatory article about using AI in HR practises included here for interest. The CAF does all this stuff, right?
How Can Managers Use AI to Find the Right People?
Eight recommendations to help firms win the war for talent.
Long gone are the days where candidates had to go to a job centre or a company to turn in a job application. The internet has vaporised most of the frictions related to candidates finding companies and companies finding candidates.
Beginning in the mid-2000s, the launch of multi-platform aggregators, such as Indeed, kickstarted the digital recruiting revolution. The advent of digital social media and professional networks, such as Facebook and LinkedIn, also contributed. These platforms provide a space where firms could advertise their job opportunities and supply information that could be used to identify millions of passive job candidates. As a consequence, the number of applicants per job skyrocketed. For example, in 2017, L’Oréal received two million résumés for only 5,000 positions – a stunning 400 applicants per job.
However, when participation is free and frictionless, the quality of participants typically goes down. Different studies and surveys have found that between 75 and 88 percent of all job applicants are actually unqualified for the job to which they apply. In this sense, we are reminded of the famous line in “The Rime of the Ancient Mariner” by Samuel Taylor Coleridge: “Water, water everywhere / Nor any drop to drink.” In other words, without AI-enabled screening tools, companies risk drowning in a sea of low-quality candidates.
So, what can AI-enabled recruiting tools do to help firms generate broad and deep pools of talent, intelligently screen them, thoroughly evaluate them, and ultimately help them select and hire the right people? The short answer is, “a lot.” Here are our top eight recommendations.
Eight recommendations to help firms win the war for talent.
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