Though 79% of HR departments have already embraced AI and automation in their recruiting strategies, recent AI advancements have further allowed the hiring process to reach peak optimization.
As we enter 2024, finding qualified candidates in a timely manner remains a challenge for employers across all industries. AI advances allow businesses to streamline and strengthen the recruiting process, helping to make data-driven judgments, lessening human bias, and freeing up time so that HR stakeholders can focus less on time-consuming administrative tasks and focus on strategic initiatives that matter.
To deliver the best hiring experience possible to our end-users and provide our partners with a competitive edge, HiringThing is excited to expand our AI capabilities by launching our new AI-Assisted Resume Screening. Joining our AI-Enabled Job Descriptions, AI-Assisted Resume Screener will enable our ATS users to screen candidates more quickly and objectively, leveraging the latest technology advancements afforded by AI.
The tool will use advanced algorithms to meticulously assess applicant qualifications against job descriptions. By parsing each resume objectively, this feature facilitates an unbiased, merit-based evaluation, fostering a fair and inclusive selection process. Its intelligent matching capability swiftly identifies top talent, optimizing hiring workflows and saving valuable time for recruiters and hiring managers.
Eliminating manual sorting and focusing solely on qualifications streamlines the candidate review process, facilitating a more effective and strategic hiring decision-making framework.
“We’re always looking for ways to keep our partners competitive,” says HiringThing Director of Product Colette Luke. “AI-Assisted Resume Screening will do that, allowing partners to provide their clients a top-tier, future-ready recruiting experience.”
“It’s a real value add,” says Luke,” with benefits that include saving companies that are recruiting time and money, helping reduce hiring bias, and allowing companies to pause and reevaluate what they’re looking for in an ‘ideal’ candidate.”
LinkedIn found that in 2023, it took an average of 57 days to fill a job, which is longer for more senior roles. Anything that helps speed up the recruitment process—especially combing through the hundreds or thousands of resumes—is beneficial to hiring companies. Every day a job sits open costs a company money. Current data says it costs an average of $340.90 per day for a role to sit open, though this varies depending on the role’s level and salary earned. Hiring faster through technological advances saves companies money.
The unfortunate reality is that with hundreds or thousands of resumes to comb through, human resource teams spend an average of only 7 seconds skimming resumes, to determine eligibility, spending much more on more functional aspects of hiring like scheduling interviews. Resumes can be clunky, keywords don’t always stick out, and humans aren’t infallible, so having the AI scan a resume and provide a brief overview can help ensure that more candidates aren’t passed over at the resume stage.
42% of talent acquisition professionals told LinkedIn that bias is the top reason interviews fail to effectively select candidates for open positions. According to SHRM, it’s also the top cause of hiring mistakes, impacting company productivity and profitability. Reducing bias in hiring reduces the chances of hiring the wrong candidates. Additionally, 78% of hiring professionals say diversity is currently the top trend impacting how they hire.
There’s concern that AI tools in the recruiting process will overlook qualified candidates. There was the same concern when applicant tracking systems came onto the scene and started automating the hiring process, which we’ve debunked in a previous blog—while technology helps us quickly analyze candidate viability, it’s still people who input what makes a viable candidate. When businesses start using the AI-Assisted Resume Screening, it will force them to rethink exactly what their job descriptions ask for. This provides a valuable chance to figure out what parameters they want their ideal candidates to have and possibly reevaluate what they’ve done in the past. For example, is a college degree required? Do they care about resume gaps? What actually makes an ideal candidate?
We’ve wholeheartedly embraced the recent AI advancements at HiringThing and have been writing about them! Check out some of our other AI-centric content!
HiringThing is a modern recruiting and employee onboarding platform as a service that creates seamless talent experiences. Our white label solutions and open API enable HR technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the platform empowers anyone, anywhere to build their dream team.