The AI-augmented recruitment and retention landscape

Artificial intelligence (AI) has entered almost every aspect of our world, changing it irrevocably for better and for worse. As such, both employers and job seekers are having to navigate a new recruitment and retention landscape.

Moving through unfamiliar territory is a lot easier though when you have all the facts! Whether you're wondering how to hire during this unique time or you're a candidate who wants to be more competitive, we've curated all the details you need to succeed.

Employers

AI for recruiting

Using AI in the recruitment process can help companies improve the experience for job seekers. For example, AI use can:

Make turnaround faster – One major complaint from job seekers is how slow the hiring process can be. In this way, you can recognize significant speed benefits from AI, making you more competitive to candidates who may exit the market quickly.

Surface skills – Skills-first hiring is a specialty of AI because it knows exactly how to seek them out without human bias getting in the way.

Be there all day – Candidates want answers at all hours of the day and night, it's not sustainable for humans to provide that service in a meaningful way. Enter 24/7 AI options!

Target qualified candidates – In some cases, AI can find people with relevant experience more easily than humans.

To review resumes – AI algorithms can be used to sort through candidate application materials like resumes.

AI for employee retention

A few years ago, Gallup reported that replacing a team member can cost up to two times that person's yearly salary. However, that number is likely underrepresenting the full breadth of the fallout. That's why it's important to focus on retention. AI can help by:

Powering up your onboarding – A low-quality onboarding process can hurt your business. AI can help you provide more value during this pivotal time.

Isolate off-site struggles – AI technology like chatbots can help employers gauge if remote/hybrid employees are struggling.

Understand employee goals – AI can take note of needs and aspirations to facilitate internal career movement thereby increasing retention.
 

Job seekers

AI in the job search

There are all kinds of feelings floating around about AI and job seeking. Here are some ways it may be useful to you.

It can flag your transferrable skills – Promoting your transferrable skills can make you more interesting to employers as they show proof that you can do a job that may not look aligned initially.

AI may be able to bring better-aligned roles to light – You may not be applying to roles where you have the best chance of an offer. AI can help you find ones where you'd be a top candidate.

It can show you your shortcomings – Platforms like LinkedIn can show you what skills you are missing that would make you appear more qualified for target roles.

AI can enhance your efficiency – Some ways it does this is by helping you:
 

• Fill out applications via autofill and browser plugins.
• Use AI job search tools to find recommended jobs to apply to.
• Use job automation to apply to many jobs at once.
• Audit your social media profiles.
• Write professional bios, summaries, cover letters and more with generative options.
• Research company culture with chatbots.
• Prepare for an interview by asking a chatbot common questions to be prepared for and examples of questions to ask.
• Simulate a mock interview with a chatbot.

AI for a better employee experience

Your work-life can also benefit from AI. Here are two distinct ways you may not have considered.

Routing – AI can show you paths you may not be aware of within your current company or surface your abilities to your boss resulting in a promotion!

Answers – AI can provide after-hours help that your boss may be unable to offer.
 

Cautionary notes

As with anything, it's important to be vigilant when using new technology, so please take care by doing all of the following.

Avoid bias – It's vital to avoid bias, so make sure to have human checks and balances in every process.

Keep it personal – Without human oversight, AI can be impersonal. Review everything AI creates before it goes out into the world.

Ensure safety – Companies need to safeguard candidate data security and privacy rights. AI needs to be employed carefully if it's to be successful and not compromising.

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We've put our in-the-trenches data into a new, comprehensive 2024 Beacon Hill Data Insights Report. If you'd like to dive deeper into the metrics of AI and jobs, we invite you to download a free copy.

Sources

• How AI Will Change Hiring
• The impact of AI on recruitment 
• AI's Role In Revolutionizing Talent Acquisition And Retention 
• This Fixable Problem Costs U.S. Businesses $1 Trillion 
• AI aims employee turnover 
• AI is accelerating the recruitment process — but tech leaders warn of bias and other risks 
• How The Use Of AI In Recruiting Will Impact Your Job Search 
• Harnessing The Power Of AI For Job Seekers And Recruiters 
• Pros and Cons of Using AI in Recruiting 

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