Role of AI In Hiring Software Engineers
A version of this article has been published on The HackerEarth Blog.
Artificial intelligence has generated a lot of buzz lately. Popular AI techniques like computer vision and object recognition have revolutionized the scope of working across healthcare, science, retail, and education to improve the accuracy of success.
More than just a supercomputer generation, AI recreated human capabilities in machines. Nowadays, AI-powered software is used to automate the daily set of business operations and ease product hassles of departmental stakeholders. One of the departments for which AI works wonders is human resources (HR).
Many recruiters and HR professionals have decided to transcend into an AI mechanism for better optimization of business assets and growth. In practice, some have already integrated artificial intelligence software with their existing tech stack and employed a better-qualified workforce without stretching their budget or time.
Hiring a qualified candidate for any important role demands cross-communication and the correct exchange of information. Invest in viable talent intelligence software that can help strategize your candidate sourcing for maximum engagement and conversions.
How does AI-based recruitment solve hiring challenges?
The entire office suffers when talented employees leave. Never mind the cost of hiring, onboarding, and upskilling a new member. Having a talented coworker leave increases the risk of employee attrition and a questionable reputation.
As the great resignation continues, many companies are turning to AI-driven HR software to increase retention rates and reduce costs. Looking beyond conventional HR practices and managing every part of the software engineer lifecycle is a key to increasing talent acquisition margin.
Many modern and secure AI recruitment solutions easily connect the dots between companies and suitable candidates for particular job roles. In some cases, Data-driven recruiting and HR analytics use tangible company analysis and skills insights to solve recurring recruitment challenges and create high-quality talent pipelines.
All in all, AI fights employee turnovers for the better and optimizes recruitment to increase employment opportunities.
Components of an AI recruitment strategy for software engineers
Hiring activities of a company are mainly outsourced to third-party AI recruitment agencies that run machine learning-based algorithmic expressions on candidate profiles. ML algorithms are pre-trained on massive datasets that increase candidate selection efficiency and reduce the endless sifting and browsing of resumes.
Let’s look at how AI skills up the candidate game of a particular company in detail :
- Pre-screening chatbots: AI conversational chatbots can bridge the gap between the recruiter and the applicant. It replaces the “recruiter phone screen” stage in the hiring process and screens candidates with a human touch. Built with evolving NLP technology, it screens a candidate’s ability to fit into their contesting roles by recognizing their pattern of communication.
- Resume parser: The resume parser scans candidate resumes and social media profiles to analyze their experience and education. It generates specific codes and parses information according to the organization’s competitive shortlisting guidelines. It also categorizes a few samples for further processing and internally sorts them to produce the required output.
- Filtering: The resume samples are further filtered based on custom criteria of age, background, qualification, etc., and forwarded to the concerned team. This candidate data can be stored in the cloud using reliant blockchain technology. The samples are clustered together to obtain a small set of profiles submitted for final evaluation.
- Automated panel assignment: As the profiles finalize, an automated evaluator panel is assigned to individual candidates for further screening. Softwares such as Greenhouse recruiting and Skillate help connect evaluators with candidates for additional rounds of interviews. Such cloud-based solutions aid in faster execution of interview rounds and declaration of results while saving up time and effort.
- Automated candidate assessment: Candidates usually appear for a pre-assembled cognitive aptitude test to check their cross-skill ability. Now companies are preparing these tests using AI writing tools that curate extremely logical questions to test candidates’ reasoning ability.
- Automated candidate scoring: After the test, the machine learning algorithm analyzes the correctness of every answer and populates an unbiased and trustworthy score. It recommends the score to the assigned panel, which then amends it to a normalized score.
- Personalized campaigns: Given the success of candidate evaluation, the system rolls out offer letters to selected software engineers with a note of personalization to make them feel connected and satisfied with their achieved milestone.
- Dashboard and analytics: Advanced reports track every stage of the recruitment funnel and provide data-driven metrics regarding hiring campaigns to optimize future outreaches.
Investment funding to build better AI recruitment solutions
The potential of AI recruitment has been witnessed by different stakeholders and investors around the globe. A considerable percentage of the workforce operating in large software industries has witnessed this transition successfully and opened doors for new funding opportunities.
B2B SaaS companies like XOPA, a Singapore-based AI recruitment platform, announced $4.2 million Series A funding led by ICCP SBI Venture Partners. Phenom, another global HR technology company, raised over 100 M in series D funding, giving it a valuation of over 1 billion! This drastic revolution has impacted the decision-making of top investors and funders for better ROIs.
Meeting the tight budgets of a particular organization and easing the hiring stress on the HR professionals has made artificial intelligence more portable for employment.
The promise of a better-engineered workforce
AI is a cue card to a tech-optimized future of recruitment. It is the ultimate go-to that can help build an employer’s brand faster and recruit a skilled workforce.
Not just recruitment, AI can seamlessly automate, manage and scale your workforce planning and payroll management to diversify business outcomes and set a new trajectory for sustainable growth. It can be your strength to navigate through the complexities of the new world order and ignite a light of empathy in an otherwise computerized recruitment process.