- December 3, 2018
- Posted by: BuzzClan
- Category: Business plans
HR, for long, has been leveraging the capabilities of analytics, albeit manually. The manual process has its shortfalls in meeting key KPI’s like time to hire and right fit to hire, due to more time being spent by HR professionals on mundane and repetitive HR activities. One technology which has taken the HR functionality by storm is machine learning as it continues to free up HR time from mundane task and allows them to focus on more cognitive functions.
The disruption caused due to IT innovations have given rise to computer programs and algorithms which can learn themselves from datasets sourced from various channels, over a period. Machine learning is one such application of AI, which learns and improves on experience and accurately makes predictions based on historical data.
Machine learning gathers a large amount of data, provides actionable insights to identify important trends, threats and opportunities. A case in point is the capability of machine learning in attracting top talents. Top conglomerate like LinkedIn uses machine learning feature to seek out suitable recruits based on advanced intelligent algorithms. Algorithms are insatiable when it comes to data, therefore the more measurable variables you provide the better it will become in making predictions.
Machine learning products like cloud jobs, an invention of Google, are being used by companies like FedEx to analyze characteristics of potential candidates. The recruiting process can be at times blinded by biased opinions of the recruiters and tend to lose sight of transparency. Machine learning can help improve transparency and duration of the hiring process through predictive analysis capabilities. It facilitates unbiased hiring and connects the right job to the right candidates based on candidates’ credentials.
A recruitment chatbot, on the back of machine learning capabilities, can collect and screen a vast array of resumes and rank candidates on metrics such as skills, qualification, and engagement. The chatbots can reduce the cost of hire by automating repetitive jobs like scheduling, answering general queries about roles and job application status, letting the recruiters focus more on branding and candidate engagement.
It’s fair to say that the human element in hiring won’t disappear completely but machine learning would play an integral role in streamlining and strategizing the HR processes. An improved hiring process will have a profound effect on the brand image of an organization, resulting in interest from premium candidates who will be in alignment with companies values and goals.