The gig economy has transformed the way people work, with Intuit estimating that it now makes up 34 percent of the workforce and growing. Jobscience has set the mission of ensuring its customers are coming out on top in the shifting employment landscape.
In our latest webinar, CEO Ted Elliott spoke with Chief Data Scientist Terry Elliott and Vice President of Product Development David Brooks about the role artificial intelligence will play in moving recruitment into the future. The latest Summer release of Jobscience is just the beginning of making AI-empowered tools an essential part of how businesses find the best talent.
The webinar included discussions of how incorporating AI into recruitment software will allow human resources departments and staffing agencies to keep pace with the changing nature of hiring and Jobscience’s plans for leading the way.
“Auto-scoring provides the groundwork for AI-driven recruitment.”
In today’s competitive job market, with 40 percent of global employers reporting talent shortages to Manpower Group, businesses need the ability to sort through a large volume of resumes efficiently and get in touch with the most qualified individuals right away. David Brooks and Terry Elliott explained how the auto-scoring feature included in the newest release provides the groundwork for AI-driven recruitment software that anticipates the needs of employers.
The scoring feature in the “Shark” summer 2017 release offers the basis for automation by ranking candidates based on both “must-have” and “nice-to-have” criteria. By taking into account the position’s demands, recruiters can customize both requirements and preferences for the education, skills and experience they want to see. This approach draws on meaningful analytics insights to streamline the hiring process, making it simple to pick out which applicants are most likely to make great new employees and contact them immediately.
Brooks said he saw great opportunities for putting data to work for the unique demands that go along with making the most of a workforce. Human capital is a space rich in complex information that has palpable results for how companies function.
“If you look at the resume, you look at the hard skills, the soft skills, the experience level, there are just a lot of aspects of a candidate that impact the desirability for a job that it’s really hard to look at all at the same time,” Brooks said. “So you need some help in trying to summarize and filter the large number of inputs that you need to consider for each person.”
Building AI-driven recruitment
As advances from Salesforce, Google and Amazon have made clear, AI is the wave of the future. In a report from The Economist, 79 percent of executives surveyed from around the world said they thought AI would make their jobs easier and more efficient. Far from supplanting the human recruiter, the power of AI will allow professionals to spend more time on the phone, getting to know the top applicants. Jobscience is committed to building the most powerful staffing software that gives these professionals the freedom to focus on the aspects of their work and achieve better long-term results.
According to Terry Elliott, one of the next steps in improving matches is the ability to learn from past experiences and optimize scoring to fit the specific needs of each employer. Over time, recruitment software will gain greater power to rule out applicants due to factors like overly long commutes or salary considerations. With guidance from the system, employers will be able to pick out the truly exceptional workers.
Jobscience is exploring a range of features that will simplify the lives of recruiters and human resources specialists, enhancing the value we bring to the business. That means increasing visibility, which is why an upcoming release will spotlight key performance indicators with a dashboard that makes it simpler to connect with highly relevant data. Rather than focusing on evaluating past performance, the software will allow hiring professionals to gain perspective and predict how existing conditions will play out for future hiring.
“The concept here is that based on patterns of behavior, the rate at which you are signing up new accounts or receiving job orders or processing applicants, we can begin forecasting the potential value,” Terry Elliot said.
Gaining the edge in the labor market calls for knowing what data counts in making the best hire as quickly as possible. Another major leap that will allow businesses to reach for new possibilities is the seamless capability to arrange interviews and meetings on the fly. Automating those efforts saves everyone involved a great deal of time that could be devoted to learning more about candidates.
By staying in close communication with customers, Jobscience is learning more about their needs in order to build powerful, smart AI systems that will help shape the future of recruitment.
Keep up with Jobscience by following the monthly “Talks With Ted” webinar series.