Recruitment Frustrations: Transforming HR with Contextual A.I

By Neeraj Sanan, Chief Marketing Officer, Spire Technologies

Neeraj Sanan, Chief Marketing Officer, Spire Technologies

Headquartered in Bengaluru, Spire Technologies is the contextual search and intelligence company that generates meaning out any structured and unstructured content.

Human Resource is one of the essential elements in any firm or organization. They oversee enrolling, screening, meeting and putting specialists. In today’s world, technology is a fast-growing asset, whose potential is still being explored. It has started to impact all aspects of the work. For instance, traditional marketing has turned to digital marketing. Similarly, innovation is discovering its way into the human resource industry.

HR Technology goes beyond utilizing considerably more than a resume to help in enlisting the best contender for a firm. With an expanding number of web clients in India, lion's share of the inactive and dynamic employment seekers is on the web and since all online networking is connected, cloud computing and artificial intelligence help HR search for a conceivable competitor in view of their web-based social networking exercises. When a firm is looking for candidates, they will have a checklist of the requirements.  Smart & intelligent HR technology helps contextualize the requirement with the database of candidate’s resumes.  The advanced analytics & high-level algorithm lends predictive capability to the technology which delivers unparalleled intelligence & actionable insights to HR fraternity.

Frustrations

HR technologies can no longer afford to be outdated and redundant because of the growing need for talent and an increase in the need to hire. Hence HR frustrations are still at large, due to which the right talent is not hired for the relevant job vacancy. This not only leads to time and cost wastage; the organization is unable to retain the hired talent for a long period.

A few scenarios in which the organizations are in:

 

  • Despite the presence of the candidate’s profile in the social space (ex-LinkedIn), the hiring target of a recruiter is never achieved.
  • Annually $15 billion are spent on HR technology. However, there is no direct link between talent & business outcome which leads to business complaints & an unhappy HR team.
  • Despite spending huge amount of money on the placement & staffing companies, HR still takes more time to hire a candidate because of which an HR loses his/her work-life balance.
  • The existing recruitment system is filled with human bias resulting in hiring a misfit candidate.

Identifying the Problem

The issue identified is that HR information is ‘unstructured’ and should be seen ‘contextually’ first. Normally while hiring, there is a lot of well-meaning yet indecipherable candidate data. Each time you need to hire someone to fill a new position, you probably go through a frustrating number of all-too-familiar steps; particularly if you are hiring within a single department for similar positions. Despite this repetitive process, hiring activities never level-off and become more time-consuming and energy draining.

The HR leaders in an organization are searching for wise innovative tools/technology that can recreate the part of a human hiring manager effectively. Which means that the technology needs to read and understand resumes, understand job descriptions, applications, cover letters, recommendation letters, academic records, etc. the way humans do and with that eliminating any kind of unintentional or intentional prejudice. Organizations require keen and shrewd advancements to investigate and make utilization of their HR information more seriously. Organizations can't linger behind by utilizing repetitive frameworks for enlisting and recruiting.

Transformed Recruitment

Contextual AI gives the HR an opportunity to relook at an otherwise opaque HR data in an intelligent manner and make the most of it. The use of contextual A.I in recruitment totally transforms the life of an HR. Here is a list of differentiators that can transform the life of an HR with the use of contextual AI:

 

  • Today’s workplaces need human-like intelligence enabled by algorithm-based machine computing to transform their HR into a strategy driven function to make the best of available and future talent. Algorithm-based contextual technology helps companies beat the odds and hire only the most relevant and diverse candidates in a bias-free manner. Hence there is no need of manually updating/correcting information system due to real time feedback loop.
  • Real time hiring of the right fit candidate can be done by contextualizing data. Operational expenses are lessened and interview-to-offer conversions increases; time-to-hire reduces, and saves the employer and the agency a lot of money.
  • Just as extended searches are obsolete, the rapidly changing workplace can no more rely on the traditional recruitment model. Hence, there is no more dependency on third party recruitment agencies or job portals as companies have their own talent ecosystem. Orthodox executive search, where a recruiter somehow contacts and personally curates a handful of candidates is time consuming and invariably affected for better or worse by the recruiter’s personal biases.
  • As A.I takes control of the routine work in recruitment, HR moves up in the role of strategizing business. HR technology also empowers CHROs to convert HR into an indispensable strategic function, empowering the HR leaders with powerful talent insights enabling them to partake in organizational vision and goals. 

The Solution

With Contextual AI, HR can race ahead of time in predicting, analyzing, matching & mapping the jobs to candidates & vice versa. Performance evaluations can be mined to determine key employee skills and their scope to further strengthen areas where broader exploration of performance is needed. Keeping this in mind the HR leaders can then figure out what training needs to be provided to the employees.

Evidence-based practices go beyond the collection of data. Using evidence is about the judicious, sensible and explicit use of information gathered from different sources. This is possible only with Contextual Intelligent Analytics. In today's hyper-connected world, decisions often need to be made faster than ever before; CXOs require the support, knowledge, and choices to bolster innovations. Organizations need to deploy capital and human resources to respond to shifting consumer demand and emerging market opportunities.

It is very critical for companies and organizations to advance with the ever-changing industry and business. Right now, being on par with the changing technology can help a company gain much more over time. There are growing needs for platforms that can synthesize large swaths of data rapidly, analyze the trends and present the relevant information in real-time reports and dashboards. To make decisions in the moment, these platforms need to provide CXOs with the right information to make cogent decisions and relevant choices.

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