AI is on the rise. 38% of companies now use AI and 62% of companies are expected to by the end of the year. But what is the buzz about? Why are so many businesses beginning to utilise it? In this blog post, Cognisess will reveal why AI is applied over traditional recruitment methods.
It’s the less biased approach
Subjectivity and bias are unavoidable traits in humans. There are 150 types of unconscious biases in the workplace, so it’s difficult to be completely objective when hiring from a CV. Cognisess Deep Learn™, our AI algorithm, isn’t programmed to take into account gender, race or age. 69% of executives agree diversity is an important issue. Deep Learn™ focuses on the skills of each individual, creating a fairer hiring process and a more diverse workforce.
The best AI tools employ a range of data to calculate well-rounded results. Amazon’s AI CV tool only operated with one type of data, a CV. The AI was taught what a good hire looked like from their male-dominated workforce data – from this it learnt a successful candidate would be male so began to discount females.
On Cognisess Pro it is optional to disclose age, gender and race – but it’s never taken into account for our assessments. Cognisess focuses on the attributes that matter when hiring a candidate. The platform is data-driven with over 50 assessments to choose from and over 120 attributes. This range of data enables a less biased approach compared to a traditional CV.
It cuts time and costs
Traditionally hiring a candidate is a lengthy process, the average time to fill is 40 days in the HR sector. 67% of professionals report AI saves them time. The recruitment timescale with AI decreases, for instance, here’s how effortless it is to hire through Cognisess Pro:
- Setting up a job and posting it online only takes 25 minutes,
- It only takes 15 minutes for each candidate to complete our sophisticated assessments.
- When you review the applications, instead of attempting to read all the application forms in your inbox Cognisess Pro has already analysed them and calculated a percentage of how suited each person is to the role. This allows you to review the top talent for the role, without searching through a mass of applications.
It costs a company £3,000 on average to hire one person. Cognisess has saved companies £250,000 purely on assessment centres after switching from traditional methods to Cognisess Pro. It performs the menial work for you, enabling a more efficient hiring process.
It allows you to retain your employees
78% of business leaders perceive employee retention as important or urgent. While one third of new hires leave after six months. It is a notorious issue, an employee leaving can lead to customer dissatisfaction, damaging your brand image as a result.
Traditional recruitment methods aren’t able to assess whether a candidate will fit in with your company culture – but AI can. If you know a candidate will fit in with your culture, they will more likely to remain in the role. On top of Culture Fit, Cognisess Pro is able to predict current and future performance – reducing the risk of a bad hire. If a new employee is a good fit for the role it will create a loyal and engaged relationship with the company.
Adopting AI into at least one aspect of your recruitment process will enhance it. AI doesn’t make hiring decisions for you, it is there to present its analysis for you to make a balanced hiring decision.
If you are unsure how to incorporate AI into your recruitment process, contact us today to schedule a demo and a two-week free trial of Cognisess Pro – the most advanced People Analytics and AI Assessment Platform on the market today.