Although most talent acquisition teams are budgeting for AI in 2019, there is still lot of confusion around what AI is and how it works. Many people assume that if they buy a chatbot and put it on their career site, that is enough to satisfy their AI requirements. Wrong.
In order to achieve meaningful results, AI needs to be infused into the recruitment lifecycle and across applications.
For example, companies can experience a 94 percent increase in job seeker traffic to their career site, three-time increase in conversions, and 49 percent reduction in time to hire if they enable AI to fuel hyper-personalized candidate experiences.
There are three critical components to keep in mind when considering how AI can help your talent acquisition strategy:
From career site experiences for candidates to CRM functionality for recruiters, these three components work together to make talent acquisition faster, better, and stronger. But AI isn’t created in a vacuum; it needs to built on a foundation of data.
For reference, Phenom AI, the engine behind our purpose-built Talent Relationship Marketing (TRM) Platform, is powered by billions of data events. We call these events Talent Signals, which represent the activity of our massive network (100M candidates, 8K recruiters, 2M employees and 200K jobs). Essentially, Talent Signals tell a story of every candidate, recruiter, and employee move on our platform; then, each “story” is turned into relevant and actionable insights for talent acquisition teams.
Phenom AI is infused into all of our offerings, including Career Sites, Internal Mobility, CRM, Analytics, and Chatbot/SMS. Our powerful AI capability drives personalization, automation, accuracy, and talent acquisition velocity across the following areas:
- Personalized Experience. By personalizing the candidate experience, organizations drastically increase the ability to attract top talent and connect people with their employer brand.
- Intelligent Search. The ability to match the right job to the right candidate is critical to converting top talent. AI powers spell correction, prediction, synonyms and natural language processing in order to provide the most relevant search results.
- Actionable Insights. AI-driven insights provide the ability to discover new job seekers, rediscover existing candidates, tap into cloud-sourced suggestions, understand candidate intent, obtain trends in the pipeline and view dynamic talent pools.
These examples are just the tip of what’s possible with an AI-powered talent acquisition platform. If you’re interested in learning more about how AI can help you increase job seeker visits to your career site, improve candidate conversion rates, and reduce time to hire, download the Science of AI in Talent Acquisition webinar now.