Artificial intelligence in job hiring

Recent studies have demonstrated that businesses have the ability to recruit candidates 85% faster with a 73.53% efficiency increase and a minimal employee turnover.

How is this possible? This is possible due to the implementation of EAI tools in the Human Resources Departments (HR).

On average, the cost per hire for a company is $4,129, along with a 42 day lag. As a result, this forces companies to optimize human and digital (automated) labor. By doing this, the companies focus on of reducing costs, creating personalized experiences with each employee, increasing efficiency, having shorter recruitment cycles, and minimalizing turnover rates.

The recruitment process through EAI reduces timelines and employee turnover rate.
Every day, hundreds of individuals apply to numerous positions in a firm. EAI algorithms allow you to go through thousands of CV’s in only nine days, enabling the system to decide the best candidates based on work experience, history, and skills. Additionally, the algorithm cancels out stereotypes and biases.

Furthermore, in the application process, EAI allows recruiters to move forward with all potential candidates rather than some of them. This is possible because of programs like HireVue. The program allows applicants to have their first interview through pre-recorded sessions in which participants answer multiple questions.

Once the desired individual is hired, companies can now use Virtual Reality (VR) to train them. A good example is Verizon, as they are now training store managers through VR. They believe scenarios like store robberies and hostage situations can be best simulated and practiced through this tool. Managers have positively reacted to this new tool, stating that it is better than traditional, instructional methods. Check out this video to learn more about how Verizon applies immersive learning in their HR process.





Lastly, chat-robots will be available in companies to develop holistic employee management. The task of the robots is to extract data from conversations with humans, to provide personalized experiences at the workplace. Imagine going inside your office with fingerprint recognition and being welcomed with your personal preference of lights, temperature, a drink, and with a dashboard giving you all the highlights of your current and upcoming projects.  

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