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How Recruitment Technology is Revolutionizing the Hiring Game

Modern recruitment technology empowers companies to fully optimize their recruitment processes. Challenges in identifying, attracting, and hiring top-talent candidates cost employers significant time and money. Today new innovation is revolutionizing hiring—making finding the people you’re looking for easier than ever.

Top firms leverage artificial intelligence (AI) and machine learning (ML) to improve recruiting performance by revamping job descriptions, enhancing branding, connecting with candidates, and crafting compelling job boards and social media ads.

Let’s unpack how modern recruitment technology streamlines the recruitment process—and how you can leverage it to stay ahead of the competition.

Optimizing Talent Sourcing Using ChatGPT

 You can leverage ChatGPT as an effective recruitment technology tool.
Source: Shutterstock

By now, most of us are familiar with or have heard of ChatGPT, the language-based AI learning model developed by OpenAI that has taken the world by storm. The software has made such a significant impact in so little time that even tech leaders like Elon Musk and Steve Wozniak have called for a “pause” in AI development.

When properly used, ChatGPT can be leveraged as an effective recruitment technology tool. It can easily automate certain areas of the hiring process, primarily written ones. You can use ChatGPT to:

  • Optimize job descriptions
  • Formulate interview questions
  • Streamline messaging
  • Hit specific keywords to attract more talent

As with most technologies, ChatGPT comes with its own set of limitations. For example, the responses the tool provides are not always accurate, and it cannot formulate new or creative ideas. It can only use what it knows. If the job you’re hiring for is outside its knowledge base, it may return incorrect information.

This is why ChatGPT is best used as a tool to improve our lives, not run our lives. A human must still wield the hammer that strikes a nail; the same applies to ChatGPT. It can help write your job description—but it’s still up to your HR team or recruitment partners to fine-tune it.

For example, Source2—an industry-leading recruitment solutions firm—leverages AI to optimize candidate reach, using ChatGPT to help improve job descriptions for greater clarity, appeal, and simplification.

Source2 also leans on Textio, another groundbreaking AI/ML tool, to score and grade job descriptions based on similar ads posted across various job boards. From there, Textio suggests ways to improve the language used to eliminate potential biases and enhance overall performance.

Ultimately, job descriptions optimized by ChatGPT score an impressive 95% on Textio, meaning they are more than capable of attracting the best candidates. As such, recruitment teams have been able to enhance their talent sourcing and pull from a more diverse and qualified pool thanks to these efforts.

Increasing Screening Results With AI and ML

Screening is among the most time-consuming activities in the hiring process. You likely have hundreds—if not thousands—of resumes, cover letters, profiles, and video interviews to parse. How can any HR department be expected to perform quickly and efficiently? Here’s where you can use new recruitment technology to streamline processes.

AI uses advanced algorithms to comb applications in search of keywords relevant to your job post, weeding out applications that don’t mention those words and phrases. Scanning for specific predetermined qualifications, it ensures your HR team only reviews qualified prospects, which helps improve your hiring metrics.

AI can also help mitigate equity and discrimination problems in the workplace. The hiring process becomes fairer when AI focuses exclusively on a candidate's skills and past experience.

These tools help you get your ads in front of those prospects faster, as well. AI can generate engaging social media content tailored to your target audience, attracting their attention more effectively than broad-stroke ads on LinkedIn or Indeed. It can also match passive candidates to open positions based on their preferences and skills.

By implementing AI/ML into the hiring process, you can quickly:

  • Reduce applicant dropout rates
  • Improve time-to-hire
  • Lower cost-per-hire
  • Meet top-quality candidates

Better Applicant Tracking Systems (ATS) With New Tools

New recruitment technology tools make applicant tracking systems more efficient than ever before.
Source: Shutterstock

A robust application tracking system (ATS) is critical to your organization. The good news is that new recruitment technology tools can make yours more effective than ever before. For example, AL/ML automates repetitive tasks, schedule interviews, and streamline communications between recruiters and hiring managers. Typically, the best-in-class ATS systems come with these features built in, or available via off-the shelf plug-ins.

Business leaders must be vigilant when identifying emerging technologies; thankfully, they can lean on the recruiting experts at Source2 as strategic partners in evaluating and implementing new tools. Some key capabilities you should look out for include:

  • The ability to improve job descriptions
  • “Smart” candidate matching to open positions
  • Enhanced sourcing of passive candidates with highly-targeted messaging.
  • Text-to-apply functionality
  • Accelerated engagement strategies with qualified candidates to reduce fallout rates

Ideally, your ATS should be able to automate and streamline workflows without changing how you work. Look for a system that allows you to configure at the data and process level without adding to the burdens on your internal IT team.

AI-Enhanced ATS Offerings Keep Prospects In the Pool

Talent pipelines are how qualified candidates funnel nicely into your open roles; an AI-enhanced ATS fill these pipelines with candidates interested in your organization. Whether it’s applicants you’ve already engaged during past hiring cycles, fresh faces, or even current staff interested in transitioning into new roles, you’ll have them all at your fingertips.

What’s more, these new systems make life easier for applicants as well. Social networks bring people together, and the modern ATS is pivoting in that direction. As recruitment technology evolves, a candidate's presence within an ATS will be more like a social media profile. They can share pictures, experiences, and qualifications in greater detail.

In-Depth Performance Measurement Using Recruitment Analytics

Companies live and breathe data. The right information, when properly compiled and analyzed, helps companies make business-critical decisions, from performance metrics to future projections—and the same is true with recruiting. Hiring analytics help companies streamline processes, save money, and make data-driven decisions.

Effective recruiting processes must include key metrics to improve performances among HR and Talent Acquisition (TA) professionals. Some essential metrics to consider include:

  • Cost-per-hire
  • Time-to-hire
  • Quality of hire
  • Time-to-offer vs. time-to-start
  • Candidate fall-out.

Source2 understands the challenges of tracking performance better than anyone. That’s why we’ve invested heavily in our own recruitment analytics platform—Acumen by Source2to boost data-driven decision-making within the hiring process.

Acumen allows recruiters and clients to monitor the hiring journey from first contact to final official start date. The system leverages sophisticated AI recruitment technology to update data pools in real-time, while a user-friendly interface makes for easy navigation and customization.

Lean on an RPO Partner During Your Next Hiring Cycle

It’s a highly-competitive hiring world out there. In such a labor-friendly market, you need the best solutions available to help you catch top talent—and that means leveraging all the AI tools you can to optimize the recruitment process. Some key capabilities you should look out for include:

  • The ability to improve job descriptions
  • “Smart” candidate matching to open positions
  • Enhanced sourcing of passive candidates with highly-targeted messaging.
  • Text-to-apply functionality
  • Accelerated engagement strategies with qualified candidates to reduce fallout rates

Your HR team is busy enough as it is. That’s why leaning on a recruitment process outsourcing (RPO) partner like Source2 is so critical. In fact, Source2 can improve your use of technology within as little as 30 days!

Source2 is deeply invested in the latest technology; we leverage these tools to craft an efficient recruiting funnel, delivering a high volume of qualified candidates. From there, we then engage and screen those prospects, ensuring only the best and brightest arrive on your doorstep.

Get in touch with Source2 today to embrace the full power of modern recruitment technology.

Written By: Source2

Tags: Trends / Thought Leadership

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