In today’s tech-centered employment market, the demand for software developers, system analysts, CIOs/IT managers, industrial engineers, and other similar positions are undoubtedly high. However, it is challenging to maneuver through changing workforce trends without the help of recruitment software that can help speed things up and fill in the gaps.
“AI does not eliminate the need and demand for recruiters. It evaluates their potential by allowing them to engage in meaningful interaction with hiring teams and candidates”
– Rose Owens.
Josh Bersin describes, “While there are a lot of jobs open, we are seeing an increasingly wide gap between the jobs created and the skills and experiences in the workforce to fill them” (Forbes, 2018). Companies lose about $15,000 on average for every employee that resigns, with this figure not including the extra time that recruiters and hiring managers spend when looking for the right fit.
Rose Owens is no stranger to the recruiting world, and she helped us understand how modern sourcing methods are necessary to advance the recruiting process in the current employment market.
Let’s look at some traditional recruiting methods:
- Preparing a job analysis and identifying the ideal candidate
- Posting a job opening with a detailed job description to job boards
- Sifting through resumes
- Conducting skill tests, interviews, and reference checks
- Making offers
Traditional methods can be helpful to recruiters, but in today’s labor market, they can also be very time-consuming and ultimately – less effective. Not only does outdated recruiting methods increase the turnover rate and time for hire, but it also continues to cost organizations additional expenditure that they can avoid.
Studies have shown that 25% of today’s candidates apply for more than ten jobs, and there has been a 39% increase in applications for a single position during the six-year period between 2012 and 2018.
Another important factor to note is that out of this surge in application volumes, 72% of these applicants are considered as poor or average quality. When an increase in available jobs is partnered with a lack of qualified candidates to fill them, it increases the amount of time and energy that recruiters have to put into making the most out of traditional recruiting methods.
As modern technology and AI continues to reinvent the way we optimize business processes, Rose Owens is pushing for recruitment models to undergo the same kind of changes. To her, it is essential to understand how AI recruitment software can benefit talent acquisition teams today as they face the struggles of the current job market.
AI recruiting can help recruiters by:
- Measuring the quality of hire
- Connecting with passive candidates
- Removing bias
- Cutting down recruitment costs
- Retaining more employees
AI recruitment software will help drastically cut down sourcing time compared to more traditional methods, and this change is necessary for making sure that large numbers of open positions are not left empty for longer periods of time. Saving time in the process can also allow recruiters the opportunity to spend more time focusing on the human element of the process – soft skills.
These skills are a crucial aspect for recruiters to see how candidates put their knowledge to action, and how they do so while working well in office culture. Skills such as creativity, persuasion, collaboration, adaptability, and time management at many times speak louder than measurable skills, like a candidate’s level of education.
These are the skills that machines cannot replicate. So, giving recruiters enough time to familiarize themselves with a candidate’s soft skills is a great way to find the right person for the job.