6 Best Business Development strategies for Staffing Agencies

6 Best Business Development strategies for Staffing Agencies

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Ever wondered, how Google gets the best-suited results in seconds?

Well, the secret to it is Artificial Intelligence. Have you heard of it?

Simply explained, it is a machine that learns and adapts the way humans do! Machines that work and react like humans.

Google Maps is one of the best examples of Artificial Intelligence. Are you familiar with the voice saying “Despite the usual traffic, you are on the fastest route”?

Now, how does the map know that you are on the fastest route?

It is because the application regularly updates itself by learning from multiple patterns such as a frequently taken route, average speed and many other attributes. This data also allows Google Maps to predict more accurately what will happen on a particular route.

Gone are the days, where humans performed all the tasks. Now is the time for smart work. The time where we can rely on machines to cut off the tedious and repetitive work for us. They now provide accurate predictions by studying previous data patterns.

Importance of Artificial Intelligence in Human Resources

Artificial Intelligence is in the early stages of revolutionizing staffing. It is empowering recruiters to work faster and smarter. It works on automating administrative tasks and generating computer-powered insights.

The practice of data-driven staffing has been going on since a long time now. With the constant increase in the volume of data available, the speed of analyzing it, its emerging capability to be predictive are making this innovation impossible to overlook.

When applicants and employees expect custom experiences, tailored to their unique needs as they apply for a new job, it gets difficult to manage everything manually.

Imagine having a ton of resumes and requirement for a specific skill set for a job opening.

It is almost impossible to go through every resume to get the best-suited candidates, also keeping the candidates’ requirement in mind.

What if you could get results the way you get it on Google? Most suited, appropriate and the best ones on the top. Well, Artificial Intelligence can do it for you. After all, Google is based on the same machine learning.

Well, there is much more to machine learning in Talent Acquisition. Scroll down to find out more.

Writing job adverts:

Let us not ignore the power of language. The words used in an advert for a job can trigger varied emotions in readers.

While Artificial Intelligence uses previously captured data and predictive analytics. It results in language which has previously caused candidates to proceed through an application and dismiss language where others haven’t. Leading your way to creating a perfect job advert.

Textio is one such software.

Bias-free hiring:

While we have been working all our lives to avoid biases; talent acquisition through Artificial Intelligence has got us a rescue. By taking out the human factor in the hiring process, the focus can be directed to the skills required. Further diverting it from race, creed or anything that differentiates humankind.

Such bias-free hiring helps you get the best candidate for your company without any differences. Plus, such a system will help you create a transparent hiring procedure.

Recruit smarter with data:

Data being the essence of predicting the best possible outcome is something we should not neglect. It is very tiresome as well as time-consuming to analyze the data manually and get out the desired results. Thus, with the implication of AI in the human resource industry, we can leave the grunt work on robots and cut to the chase.

London-based telecommunications company, Vodafone, saves resources while assessing numerous applicants just with the help of AI-powered video interviews instead of phone screens.

Applicants record themselves answering standardized questions. Further on, the robots analyze the interviews and assess candidates across 15,000 different dimensions. The dimensions range from body language and facial cues to voice intonation and speech cadence. The HR further invites the best candidates for in-person interviews.

Here, the machine takes into consideration the previous factors that led to the most suitable employees and evaluates the applications accordingly.

Using a single platform, empowered by Artificial Intelligence, recruiters now can post and manage job listings. They can also easily search for active and passive candidates. This enables them to dedicate more time and energy to manage the human side of hiring.

Identify and source the best fit:

Successful recruiting relies on the righteousness of multiple factors. For such an approach to be successful, we must identify the best possible candidates efficiently, no matter where they are in the world. AI can identify candidates who may be ready for a career move, with the support of both patterns in career path and social media.

To empower this process, most applicant tracking systems (ATS) have been programmed to search for specific keywords, phrases and experience levels that indicate a candidate-position match.

By comparison, a good ATS built on AI takes it to the next level.

Rather than requiring additional human input, the best systems analyse desired skills from the job description and available information on social media, networking sites and corporate websites for potential candidates whose skills are the best fit.

According to a 2018 survey conducted by Korn Ferry, 63 per cent of the 800 recruiters surveyed said AI has changed the way they recruit and 69 per cent said it has helped them source better candidates.

An intelligent ATS can also assign value and meaning to words and phrases to differentiate a candidate’s unique skills. An arrangement that reviews data for both active and passive candidates is more likely to uncover a purple squirrel, than the one that relies solely on data provided by candidates who are actively job hunting.

Once you source the candidates, it is impossible to have a versatile and efficient system that allows access to everyone involved in the hiring process. Recruiters, managers and other stakeholders can review top applicants in real time to make the decision-making process efficient and collaborative.

Creating visibility amongst the recruiters reduces the risk of losing top talent to a competitor due to a long, drawn-out process.

Vet candidates:

After the applications are received for the required position, the next step is to vet those candidates. Often that’s processed by reviewing resumes, cover letters, and other required application documents. This process can take up multiple days or weeks to complete. Making a hire without vetting candidates would save time, but skipping this would lead to disaster.

Using only human judgment to vet a candidate does have its own drawbacks. Most of the recruiters and hiring managers have the experience to share about a candidate who seemed perfect on paper, only to find out that they were worse when hired or in the interview.

Present day hiring services powered by Artificial Intelligence provide you with a solution to save time by vetting resumes against required skills and producing the top candidates. Along with reviewing how prospects interact online with others regarding expertise, the frequency, quality, and volume of the interactions. This helps you get your hand on the right candidates and avoid the disastrous stories.

Virtual interviews with Artificial Intelligence:

The increasing number of automated and non-automated video interview platforms on the market provide companies with new opportunities. The platforms allow them to review a candidate face-to-face without investing their time in interviewing them until the final stage. Such a procedure saves the hiring manager an abundance of money and time. It helps their clients identify the strongest candidates to shortlist much earlier on in the process.

However, AI platforms used by larger corporates who have numerous applicants, now use AI video interviewing platforms that automatically record candidates’ answers, create their profiles and send them to respective hiring managers. Such advancements are reshaping talent acquisition solutions.

Panna is one of the intelligent technologies used for virtual interviews. It enables voice as well as face recognition.

Enhance the onboarding process:

We all love our new employees. But they sure do ask a lot of questions. And chances are, you may not have enough time to do justice to them. This is the reason that the most progressive HR teams use chatbots.

In a study conducted by Service Now, they discovered that more than 75 per cent of employees say it’s difficult to find information about crucial HR policies.

Chatbots offer an always-available environment to your employees to get immediate answers, enabling you to save time to focus on the business.

And that is one of the ways Artificial Intelligence is empowering talent acquisition companies

Enhance employee retention and performance evaluation:

With employee retention becoming an alarming problem by every passing year, AI has cracked a way to get the numbers down.

Talent acquisition companies in the USA have come up with a solution led by AI tools based on the following:

Analyzing employee resignations or other events that could explain their decision to leave the company.

Analyzing social media data from employees in other organizations in the same industry can help identify reasons employees publicly state for their decision to leave their positions. Studying survey data from exit interviews or getting regular employee feedback.

Most of us, when negatively evaluated on our annual performance, are unhappy, having an image that it is resulted such due to some personal bias.

We all are aware of unconscious biases in the workplace. And whether we like it or not, gender, race and contrast biases work their way into our performance review.

Prominent companies state that their current review cycles are very time-consuming and don’t do enough to benefit employees. In case you missed that: almost 95 per cent of managers are unhappy with their performance-review processes.

But there’s the way out. AI tools eliminate biases by removing the human element. And they also create a more efficient review process. Analysing every minor detail, AI tools make sure that employees and company grow to its best version possible.

Betterworks, an HR software company, has developed a Continuous Performance Management product that “helps employees easily align their personal goals with desired company outcomes while providing them with ongoing feedback, frequent coaching conversations and increased recognition.”

AI creates a platform that enables employees to engage and contribute to business and build a robust and unified workplace culture.

This is how AI goes above and beyond, helping you complete simple tasks to reshape the entire workplace.

On a final note

Instead of thinking that it will work you out, think about the number of possibilities in which it can work for you. Companies using AI in HR have consistently found better-suited employees and efficient workspace.

Technology frees up experts in human resource to do what they do best; offer advice to their business partners, create a friendly and welcoming candidate experience, and get better results.

Intuit’s Vice President of Talent Acquisition Nick Mailey—tasked with hiring over 6,000 employees a year; uses AI to streamline talent to those who are a better fit with the company. Also to identify candidate leads who were not previously considered.

The company is coming up with an algorithm-driven platform. A platform that scores and matches candidates to available positions based on its top performers. “The value of machine learning is in prioritizing talent,” Mailey said. “We’re now really good at eliminating candidates we don’t want. Since we no longer waste time on people who don’t qualify, our recruiters are much more efficient.”

At the end of the day, thoughtfully incorporating such intelligent Talent Acquisition Services into your HR processes frees you from tedious tasks and gives you the opportunity to spend more time building a stronger workplace.

Machine learning is empowering recruiters to manage their staffing process better. The ultimate aim is to rehumanize the recruiting experience. Putting control back in the hands of recruiters and candidates is the thought behind it.



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6 Best Business Development strategies for Staffing Agencies

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