COVID-19 Impact on AI Recruitment in Semiconductors and Electronics Industry
OVERVIEW
The Coronavirus pandemic has forever changed the world. Going out for a meal, going to the office and working, and even making friends is never going to be the same again. The planet has experienced a seismic change in the last few months. It is hardly shocking, therefore, that COVID-19 has also changed the way people search for work and the way businesses look for new employees. More and more people are looking to technology to find the right match.
Recruitment is witnessing a transformation, and technology and automation are driving this transformation. If you recruit on a scale, you are required to face problems such as talent procurement and screening. Seeking top talent begins with having potential applicants. But, despite knowing exactly where to locate these applicants, sourcing them manually is both a challenging and time-consuming process. Technology changed the game in the very first step of recruitment.
AI automates sourcing activities by attracting talent from various sources and narrowing the list by finding possible matches faster. With the recruiting volume projected to raise post-COVID-19 while recruitment teams stay of the same size or shrink, interest in automation only grows. AI and ML counter this paradigm by encouraging you to check for resumes quicker than a human can ever do and filter out unqualified applicants.
AI is now being used to create specific test questions for an applicant and also to determine their ability to perform work duties. It helps talent teams to perform more transparent and fair evaluations of applicants and to ensure that they only recruit the best.
IMPACT ON SOURCING SUPPLY CHAIN
Recruiters, henceforth, need to move rapidly to redefine how they can work in the post-COVID-19 period. This involves a rethink of process, technology and work. Luckily, the growing role of AI in traditional recruitment processes can be a silver bullet for the recruiters to emerge far more effective and efficient after-stop. There are certain roles for AI that enables contact-less hiring and much more in a post-COVID-19 era.
SOURCING
The ability to evaluate millions of data points allows companies to easily find qualified and best-fit applicants from a much wider pool of talent than just work boards. One of the most lucrative opportunities for recruiters is the opportunity to quickly and efficiently classify passive applicants (those not actively searching for employment or on work boards) on the basis of predetermined parameters.
With data-driven algorithms, a range of stringent criteria can be set to learn thoroughly about and proactively hit a broader pool of candidates early. Marketing automation helps recruiters to cultivate and transform these candidates at the right time. This will help to reduce the reliance on hired drives or in-person hackathons used by many recruiters to drive volumes at the top of the funnel.
SCREENING
Recruiters will recognize the expertise and experience of high-performing workers and benchmark prospective applicants for these profiles with the right tools. With deep learning behind this process, artificial intelligence can then scan millions of profiles for ideal candidates based on specific skills and experience, not keywords.
CANDIDATE ENGAGEMENT
One of the greatest strengths of successful recruiters is to keep applicants involved throughout the process. Today, NLP-powered chatbots would allow the recruiters to create complex conversational flow with multiple candidates at the same time, provide immediate answers and build deep interaction. This could theoretically reduce the reliance on face-to-face interactions and allow for more 'contact-less' recruiting.
ASSESSMENT
Stringent failure checking informs the rank of candidates through a number of vertexes. Each company may assess applicants against a personalized baseline score and list them in order of weighting and importance. Candidates can also be evaluated without being interviewed and their assessment can be used not only by one corporation but by a group of companies trying to attract qualified candidates from a large talent pool.
CONCLUSION
The reforming and mechanizing much of the transactional recruiting portions, AI opens up time for recruiters to strengthen on-going relationships with candidates, which can lead to better company functioning sooner rather than later. The use of AI recruitment will contribute to the automation of sourcing by searching the Internet or restarting databases in order to categorize the best-fit applicants for open positions.
Companies have also begun positioning AI-powered recruitment tools for power interview preparation and candidate engagement. The influence of tech companies like Facebook, Apple, and Microsoft is now using videos as part of their recruitment strategy.
For instance,
- Kenoby, an HR startup, is growing its recruiting technology to high gear as it has recently received a USD 4.9 million investment through Astella Investimentos. These funds are planned to be used to improve its products by artificial intelligence (AI) as well as the expansion of its existing staff from 100 to 300 employees in the subsequence.
In addition, AI can also enhance the candidate's experience by offering input in real time as a candidate's movement through the recruitment channel. Applicants also encounter frustrations with the recruitment process due to lack of contact by recruiters on the status of their submission. Through using conversational interfaces such as recruiter chatbots, candidates can be nurtured and provided with timely feedback about how they are progressing. One of the main issues of conventional recruiting practices has been the bias that is related to the applicant evaluation process. AI can be placed to tackle human prejudice by providing rational, data-driven understandings.
