How Will Chatbots Impact The Recruiting Industry?
Chatbots are being used in many industries today, including digital marketing, retail, and the recruiting/HR industries. Chatbots are software programs that use a messaging interface in order to carry out various tasks, such as buying an item, reporting current weather conditions, and scheduling a meeting. Chatbots can automate and handle many repetitive tasks more efficiently than humans can, enabling humans to focus on more specific and intensive tasks that chatbots cannot handle (yet).
In regards to recruiting, chatbots utilize natural language processing (NLP) and artificial intelligence (AI) to evaluate applicants to a position, specifically evaluating factors such as work history, educational qualifications, extracurricular activities, and other factors humans used to look for in paper resumes. Additionally, chatbots can answer applicants’ questions regarding a company’s mission, objectives, benefits, culture, and policies. Some chatbots can automate up to 75% of the recruitment process, thereby enabling managers and higher-level executives to assess more of the potential recruitment pool more quickly and have a greater chance of finding better candidates for their open positions than if humans were still managing the entire recruiting and hiring process.
Chatbots can also help managers to assess whether a candidate is truly interactive and engaging when it comes to the position, a quality that most managers look for in their prospective hires. Those candidates who asked a chatbot questions were 300+% likelier to hear back from a human manager or recruiter.
Another benefit chatbots provide in the recruiting process is that they can automatically update the applicant on the hiring process, thereby preventing the need for a human to keep up the relationship between the company and the applicant. This can lead to companies not necessarily losing talent to competitors because they do a better job maintaining a relationship with a prospective employee.
Chatbots have the capability to numerically rank applicants in terms of such factors as engagement, work experience, educational qualifications, extracurricular activities and/or causes, and other factors in order to give manager and higher-level executives more insight into how the candidates compare to each other and which one or few are the best one(s) to hire for that company.
Besides the fact that humans will gain much more time to focus their attention elsewhere by utilizing chatbots in their recruiting and hiring operations, chatbots will also cut down on the amount of humans needed to manage the human resources and recruiting departments. This can make the company more efficient and more cost-effective as well, particularly since chatbots will not need time off, health insurance, or other benefits human workers expect.