As much as 87% of the companies (across various industries) are now reliant on artificial intelligence (AI) for simplifying their recruitment process. In fact, by 2030, the market cap of AI recruitment company and processes is believed to touch $1.12 billion, which is massive.
From saving time to reduce manual errors, the purpose of AI-powered recruitment is simple – it contributes to 86.1% faster hiring and reduce 30% of the costs per hire. However, with how new the concept still is, many companies are still questioning about the efficacy and integration of these solutions and replacing their existing processes (source: DemandSage, 2024).
If you want technology-led recruitment outsourcing services at the forefront of your business operations, it is time to let AI take over the process. This detailed Channeplay guide will explore the hows and whys related to it.
The role of AI in the current world doesn’t needs introduction. It is governing multiple aspects of our lives, streamlining a lot of complexities.
When it comes to recruitment and hiring professionals for companies, traditional hiring models are now falling short and here’s why:
These problems often stem from the reliance on manual, inefficient, or outdated hiring methods. Moreover, internal teams are usually stretched thin and may not have access to the latest technology or data analytics required for smarter hiring decisions.
This is exactly where outsourcing comes into the picture and how AI helps in recruitment.
Before we explore “how can AI help recruitment,” the more important thing we need to asses is why AI is no longer a “choice” in the recruitment process.
The answer is pretty simple – Beyond the efficiency, your competitors are now reliant on AI to streamline their hiring process. Will you stay behind and not be on par with the technology that your peers and competitors are using?
Traditionally, the recruitment process is quite labour intensive, relying on various manual tasks such as resume screening, candidate communication, and interview scheduling, all of which are time consuming, not to mention that they utilise a lot of the resources at hand.
While these individual steps are no doubt important, they do consume a significant portion of a recruiter’s time, leaving less capacity for strategic initiatives like building relationships with potential candidates, enhancing the candidate experience, and focusing on diversity and inclusion.
Not just that, the sheer volume of applications for varying roles is often difficult to comb through and identify the best candidates in the lot. This is where AI steps in. AI has the ability to:
All of this collectively streamline the process of hiring, matching the companies with the best candidates, ensuring better retention and outcomes.
The blend of AI with outsourcing is the perfect definition of getting “the best of both worlds.” When your company has an AI-enabled hiring partner like Channeplay, it is bound to transform your hiring process – in the best way possible.
For those wondering “how can AI improve recruitment,” sourcing the right candidates for the job roles in the foundational step. Unlike traditional hiring methods that rely on job boards and referrals, AI-enabled RPO use data-driven sourcing that scan:
With AI, it is easier to evaluate patterns, jobs titles, keywords and employment history of the targeted candidates, making the hiring process a success in the end.
Let’s assume that your company has five openings and given that they are lucrative roles with competitive pay, the job applications are pouring in – Each role having over a 1000 applications.
Sounds hectic when you think of manual screening, right? Not only does it take more time, doing resume screening manually is also error-prone, possibilities that you might end up losing some of the best candidates in the stack.
AI tools can parse through the resume in seconds, categorising and organising them based on the pre-requisites that you have assigned for the specific job role.
So, if you are curious, “How does AI recruitment work?” It does as follows:
This, in turn, drastically cuts down the time it takes to fill the available job role and also improve the quality of the shortlist candidates for the final interview – taking off a lot of the burden off the shoulders of the hiring professionals.
Reports suggest that around 48% of human resource professionals accept that unconscious bias during recruitment is a common recurrence. This, at times, leads to hiring the wrong person for the open job role and letting go of a more deserving candidate.
AI algorithms, when properly trained and optimised, standarise the decision-making without any bias, ensuring that only the best eligible candidates are shortlisted for the next step of the interview.
Another answer to “how does AI help in recruitment” comes from the fact that it ensures faster interview scheduling by:
This, in turn, removes friction from the process and ensures zero delays that is often common with back-and-forth emails or missed follow-ups.
Now that you have a clear understanding of the components that drive hiring success for companies, leveraging AI and outsourcing, it is important we get a glance through all the benefits that come with it.
If these still don’t convince you to hand over the recruitment process of your company to an established and technology-driven RPO like Channeplay, you are missing out.
The question “will AI take over recruitment” is a recurring theme among the HR professionals and while its impossible to “predict” the future, it is safe to assume that AI will surely take over the initial steps in the hiring process, especially when RPOs are involved.
With further development of AI, recruitment will become even more intelligent and personalised, focusing on factors like:
Instead of worrying whether AI will completely take over recruitment, the more intriguing question is, “How will AI change recruitment?” The concept of plug-and-play recruitment engine for businesses of varying sizes will no longer be a farfetched dream.
AI-powered recruitment, when combined with expert outsourcing, can truly transform the way companies hire. It is the future of recruitment, bringing structure, speed and intelligence to a process that’s often bagged down by inefficiencies.
Channeplay is a leading salesforce outsourcing and AI recruitment company, with a presence in 800+ cities across India. Whether its one candidate for one job role or bulk hiring for multiple open positions, our services are calibrated and tailored to your needs.
With a deep understanding of sales functions and access to cutting-edge recruitment technology, Channelplay is your ideal partner in scaling with confidence.
