There’s a lot of anxiety among workers and employers alike surrounding the use of AI in hiring, but I’d like to put some of those fears to rest.
First of all, using AI as part of your recruiting and hiring strategy does not mean handing all of your decision-making over to an algorithm. Instead, when implemented correctly, it permits you to efficiently and objectively identify candidates that should have a higher probability of success with your company and it eliminates the subjectivity in the process that can lead to bias in recruiting decisions, resulting in bad hires.
In other words, the right AI-powered HR strategies actually accelerate good hiring by eliminating sourcing and recruitment biases. And the best example of this in action is AI-powered direct sourcing.
What is Direct Sourcing?
Direct sourcing is the process by which employers and their HR staff directly recruit and communicate with talent. It allows them directly to engage with and hire job candidates in a transparent, efficient manner, instead of working with a third-party recruiter.
There are a number of immediate, tangible benefits to using direct sourcing software tools in addition to or instead of a third-party recruiter. According to recent research by Staffing Industry Analysts, it costs 35% less to hire a worker through a direct sourcing program than through a third-party recruiter – and the same study showed that at least 60 percent of staffing leaders plan on implementing direct sourcing programs in the next two years. Our own internal research has shown that employers using a direct sourcing program consistently see a response rate of 55% or more to their openings, compared to traditional job boards, which hover somewhere 2-5%.
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