Key takeaways
Traditional recruiting is painful; it involves manually screening resumes, interviewing unqualified candidates, and slow response rates. Luckily for recruiters, there’s a new hero in town that will allow you to ditch the manual grind. We'll show you how AI in recruitment can supercharge your hiring process with benefits that help you level up.
Research has shown that AI interview question quality is 10% better on average than human interviews. For all you nay-sayers out there? We'll address AI's possible challenges, giving you actionable solutions along the way.
What is AI in recruitment?
AI in recruitment means using AI to streamline your hiring process. You can depend on intelligent systems to help source, screen, and hire the best candidates for your available roles. Our partners have been able to use the micro1 AI interviewer to automatically vet global candidates and create a top 1% talent pool.
But before you panic, AI in recruitment is not here to replace jobs. The human element remains at the center of the candidate selection and hiring process. Recruiters can focus more on things like talent acquisition strategy and making the final call on more complex decisions, like cultural fit and soft skills. At the end of the day, companies big and small can take advantage of AI to improve their hiring process.
The importance of AI in recruitment
We wouldn't be talking about AI in recruitment if it didn't benefit your hiring process. AI is already playing an essential role in the world of recruiting, from creating a better candidate experience to finding the ideal prospects with greater efficiency and speed. Let's see how these benefits can transform the hiring process.
Increase hiring speed
Overall efficiency and speed are super important parts of the hiring process — if your recruitment strategy is dragging, you'll only bring up the dredges of the job candidate sea. AI can boost your overall efficiency by automating manual or repetitive tasks, like resume screening. Allow AI to screen candidates for you or just show you the top options.
AI recruitment companies like micro1 offer AI Interviewer solutions to help you interview 100x more candidates on autopilot. On average, human recruiters spend $40 per interview. AI can accomplish the same tasks for only $6 per interview, a whopping 85% reduction in recruitment costs. AI interviews can include everything from standard questions to skill-specific exercises and soft skill assessments, which is ideal when sourcing and hiring remote engineers.
Forge better candidate experiences
AI creates a better experience for recruiters and candidates. Have you ever been ghosted by a company after an interview? Job hunting is a grind, but it’s also a chance for companies to level up their recruitment game. AI can help personalize communication with candidates for a more enjoyable hiring process based on their qualifications. One of micro1’s clients’ reported that their candidates actually preferred AI interviews, resulting in an 80+ NPS.
AI's streamlining and efficiency mean candidates won't be left out in the cold waiting to hear back or, worse, choose to go with another company because a response was too delayed. Deliver a solid first impression, respond to candidates on time, and act faster in a competitive marketplace to seal the deal with the candidates you want to hire.
Get data-driven insights
Your company can make more informed decisions using data-driven insights provided by AI. Looking ahead with predictive analytics can help you spot future hiring gaps and identify top talent. It's a great way to stay on top of hiring trends and adjust your strategy accordingly.
AI in recruitment can also help track metrics that show the efficiency of your hiring process. Such vital metrics can include time-to-hire, cost-per-hire, and overall candidate satisfaction. Get an eagle-eye view of your hiring process and keep it on track.
Lower your hiring costs
You want to hire the best possible candidates, but at the end of the day, you have to follow a budget. One of the best things about AI is that it can reduce hiring costs. With the ability to perform automated tasks at high speeds, AI-powered tools help drive the hiring process, reducing your company's time-to-hire. This overall time-consumption reduction results in more money saved and less time spent with open positions.
Thanks to AI's incredible speed and ability to perform tasks asynchronously, you'll have a lower cost-per-hire rate. Worried about AI messing with your current tech stack? Don't sweat it. Our AI plays nice with others. Options like micro1 are compatible with 50+ applicant tracking systems, including Ashby, Lever, and Workable. This tight integration saves you time and money, avoiding potential wasted productivity.
Crushing the challenges of AI in recruitment
Everything comes with challenges, including AI in recruitment, but with some knowledge, you can easily overcome these hurdles. We'll explore three of the most common challenges recruiters face when implementing AI and show you how easy it can be to succeed.
Potential bias in AI algorithms
There have been talks about bias in AI algorithms and human hiring, which may have piqued your interest. While AI algorithms can contain biases, ensuring diverse and representative training data is included in the historical data can put that issue to bed. Like human recruiters, the key to solving AI recruitment bias is providing education and context; here at micro1, we use transcripts that allow for human review.
Solution: When selecting an AI recruitment solution, ensure the company uses a diverse database and regularly audits for potential issues.
See here to review micro1’s commitment to ethical AI.
Candidate data privacy and security
As with any process that handles large amounts of personal or sensitive data, your company has to keep it secure. This is a challenge your company faces every time it selects an outside service, including cloud storage, email, and other digital platforms. Check that the company you work with has its data secured and adheres to modern data privacy regulations.
Solution: Talk to your AI solutions provider to learn about their secure data storage options; ideally, find a provider that offers transparent data practices.
Overwhelming technical complexity
Some AI tools are pretty complicated and need experts to run them; this forces businesses to hire AI specialists, which can be expensive. Here at micro1, we prioritize our user-friendly approach, ensuring everyone from small startups to major enterprises can access these powerful tools without needing a manual. Don't waste time and RTFM; invest in services and software that can work for you, not against you.
Solution: Take a test drive of any AI recruiting software you may have an eye on. AI recruiting software providers, like micro1, may offer demos. After all, after test driving a Porsche, why would you drive anything else?
The future of AI in recruitment
AI in recruitment is a powerful force that’s already pushing businesses ahead. Whether your company feels its hiring practices are solid or need a revamp, investing in AI tools will feel like hitting the hyperspeed button. For businesses looking to hire, you'll be able to create better candidate experiences, increase efficiency, and reduce your budget — all at the same time.
And don’t worry — human recruiters aren’t going anywhere. Remember that you’re hiring humans, and humans are the best at hiring others. AI recruitment services and software are definitely powerful tools, but recruiters still make the final call, assessing things like a candidate's cultural fit and soft skills.
According to Workable’s AI in Hiring Survey, 44.2% of individuals have reported that they have already seen a significant acceleration in the hiring process due to AI. A LinkedIn report shows that 72% of recruiters have found AI helpful for candidate sourcing. So, the question remains: Have you taken advantage of AI in recruiting in your workplace?
Take charge of AI in the recruitment process
Learning how to use AI in the recruitment process is the first step toward efficiency. There are many different ways to implement AI within your recruiting strategy, and it may be best to first sync with the head of recruitment about their specific needs. Here are a few ways you can use AI in the recruitment process to create a better experience for both your organization and potential candidates:
- Candidate screening: AI tools can help with candidate screening and resume review processes using intelligent parsing tools. Eliminate the time it takes for your organization to sift through and screen initial applicants using automatic AI-powered tools.
- Candidate interviewing: The most powerful aspect of an AI recruiting system is its ability to interact directly with and interview candidates. Engineers like those at micro1 have built an AI Interviewer that can interview potential candidates through a natural video call, providing skill-specific exercises as needed. And you’ll get a full AI report with a recording to boot.
- Candidate sourcing: AI can help organizations source candidates that closely match their needs. Tools like micro1 offer pre-vetted global talent pools that allow recruiters to hire at half the cost. micro1 interviews over 30K applications a month, following up with soft skill and human technical interviews to deliver the top 1% of candidates.
Examples of AI in recruitment
It can be hard to wrap your head around how AI fits into the recruiting process. Here are two detailed examples of how AI can help companies by providing pre-vetted talent pools and interviewing and directly assessing potential candidates. Both examples are based on real experiences clients have had with micro1.
Example #1: Hiring talent pre-vetted by AI offerings
AI can pre-vet candidates, reducing your time sourcing potential new hires. DocDraft learned how beneficial the process is when they hired four engineers in only two weeks. Within 24 hours of discussing their requirements, micro1 sent them nine AI-sourced profiles, saving them $140K a year on salaries.
By improving their engineering interview process, DocDraft now has four solid engineers and, as founder Taher Hassonjee says, a new secret weapon: "micro1 has been a secret weapon for us in scaling our business. I almost want to leave a bad review to keep others away so that we can keep scourging the talent pool with limited competition."
Example #2: Interviewing talent with AI solutions
Letting an AI Interviewer take the wheel in your hiring process is another way to integrate AI into your recruitment process. Deel, a global payroll platform, faced challenges in its recruitment process and turned to micro1 for our AI Interviewer solution.
They hired 30+ customer support reps in a single month while saving 85% on recruitment costs. Have a deeper look at what Deel's Head of Talent, Alan Price, had to say about the company's experience with micro1.
FAQ
At micro1, we've dedicated ourselves to creating an advanced ethical AI recruitment product. Here are answers to some of the most common questions we’ve gotten along the way:
Are recruiters going to be replaced by AI?
No, recruiters are not going to be replaced by AI. The heart and soul of the hiring process is the knowledge and strategy provided by human recruiters. AI is a powerful tool to aid recruiters in their process, allowing them more time to focus on recruitment strategy and cultural fit.
Does AI reduce bias in hiring?
Yes, AI has the potential to reduce bias in the hiring process. When selecting an AI recruitment tool, dig into the company's strategy and how they plan to combat bias. One way to do this is to ensure the model has been trained on diverse data and is routinely audited for possible bias.
Which companies use AI in hiring?
Many companies have begun using AI as a part of their recruitment process. The team at Legal Soft turned to micro1, saving 30% on EBITDA margins and screening nearly 10,000 candidates on autopilot every month. Global payroll SaaS company Deel found its success by automating their initial screening calls and 5x’ing their human interview pass rate.
Harness the efficiency of AI in recruitment with micro1
Stop throwing money into the fire with your recruitment process. Using AI in recruitment strategies, your team can hire top talent while reducing expenses and increasing efficiency and experience. Book a demo with micro1 and see how your team can use today's best AI agent for hiring.