31% More Revenue with AI & Automation in Full Cycle Recruitment

Artificial intelligence (AI) and automation have changed the staffing industry by making the full cycle recruitment process faster, more personalised, and smarter.

In 2023, a report by Staffing Industry Analysts (SIA) showed that 55% of firms worldwide started using AI. These companies were 31% more likely to see their revenues grow. Also, those firms were 2.4 times more likely to use automation for tasks like gathering client needs and screening candidates.

AI isn’t just another tech trend; it’s a game-changer for every industry, including staffing. About 70% of staffing firm leaders believe AI will help improve recruitment. Some staffing firms are already using basic AI tools to make their jobs easier.

The Society for Human Resource Management (SHRM) says that 88% of companies around the world use AI in some way for HR. AI is changing how people interact with technology and how staffing firms attract, engage, and keep talent.

AI is making a big difference in staffing by helping firms streamline their operations, match candidates better, and keep clients happy. As AI continues to develop, it will become even more essential for staffing agencies that want to stay competitive.

Must Read: A Deep Dive into the Impact of Automation in Full Cycle Recruiting

How to Use AI and Automation for Full-Cycle Recruitment

According to a report, employers report that AI and Automation is most in full cycle recruiting helpful for:

• Targeting qualified candidates
• Screening resumes
• Conducting interviews
• Engaging candidates
• Decision making
• Onboarding

There are various ways to utilise AI and automation technology for talent attraction and candidate experience throughout the recruitment process:

1. Target Relevant Candidates

AI allows you to create personalised Employee Value Propositions (EVPs) for each candidate. By tracking candidate behaviour on your website, you can send customised content and messages that directly address their interests and needs. AI can also analyse thousands of social profiles in seconds, sourcing both passive and active candidates based on job title, industry, location, and experience. This expands your talent pool and ensures you reach ideal candidates quickly.

2. Screening Resumes

AI streamlines resume screening by quickly sorting through resumes and highlighting the most relevant candidates based on keywords, experience, and skills. This speeds up the process and reduces human bias, ensuring fairer candidate selection.

3. Conducting Interviews

AI-driven chatbots can handle initial screening interviews, asking standard questions and assessing responses to filter out unsuitable candidates early. Some companies also use AI to analyse video interviews, evaluating body language, tone, and speech patterns for deeper insights into candidate suitability.

4. Engaging Candidates

AI-powered systems keep candidates engaged by sending personalised updates and feedback throughout the recruitment process. This improves the candidate experience, making them more likely to accept job offers and speak positively about the company.

5. Decision Making

AI and automation provide valuable data and insights, aiding recruiters in making informed decisions. Predictive analytics can forecast a candidate’s potential performance and cultural fit, reducing the risk of bad hires and leading to a more productive and satisfied workforce.

6. Onboarding

Automation simplifies onboarding by handling paperwork, scheduling training sessions, and providing new hires with necessary information. This ensures a smooth transition for new employees and allows HR teams to focus on strategic tasks.

The Human Touch

While AI and automation are transforming full cycle recruitment process, it’s important to remember the value of the human touch. Technology can handle many tasks, but building relationships and understanding the nuances of human interaction are irreplaceable. The best recruitment strategies combine the efficiency of AI with the empathy and intuition of human recruiters.

Conclusion

AI and automation are surely bringing a difference in the  full cycle recruitment process, making everything faster, fairer, and more efficient. What does this mean for the staffing firms? More time doing what is more important for them: connecting with top talent and building quality teams. To stay in the loop with the latest staffing trends and tech updates, subscribe to our monthly newsletter!

Originally published Jul 02, 2024 11:07:10, updated Jul 02 2024

Topics: Full Cycle Recruiter, Full Cycle Recruiting, Full Cycle Recruitment