siliconindia | | December 20199CHATBOTS TRANSFORMING THE RECRUITMENT INDUSTRYleave the lengthy and confusing application process midway. Owing to chatbots, the probability of a job-seeker quitting the lengthy application process has witnessed an exponential drop. Most importantly, a chatbot engages with an unlimited number of applicants in real-time, giving them a sense of value and customer satisfaction.Upgrades the User Experience: To provide an exceptional user experience, chatbots eliminate the downtime between a candidate submitting a CV and the recruiter getting back to them. It also enables to push selected candidate quicker along the hiring cycle, making their experience finer. This swift recruitment process makes both, candidates and recruiters satisfied. Facilitates a Quick Process of Hiring: Generally, recruiters take 42 days to fill an open position. Chatbot significantly reduces both, the cost involved in hiring and time required to hire. By automating major parts of qualifying and scheduling interviews in addition to corresponding with the candidates real-time, a chatbot has, now, made the recruitment process a painless task. With the heavy-lifting tasks been taken care of by a chatbot, recruiters can boost their productivity by indulging in more important tasks and creating a stronger relationship with the job-seekers.Eliminates Perpetuating Biases in the Recruitment Industry: Chatbots screen candidates by utilizing large quantities of data and skills. They then combine these data points using algorithms, to conclude who could be a potential candidate. The algorithms are such that these data points are viewed objectively - free from any assumptions and biases. Increases Productivity & Cost Effective: On average, every open position attracts about 250 resumes, out of which some four to six are shortlisted. There are also instances where 65 percent of resumes received for a role, are ignored due to the dearth of manpower to filter them. A chatbot automates 80 percent of top-of-funnel recruiting activities, allowing recruiters to be more efficient and increase their productivity. Chatbots take over the mundane tasks which otherwise require a large number of team. Organizations can, therefore, utilize their workforce on achieving better goals than doing the generic profile screening.By 2025, the global economic impact of AI is expected between $7.1 trillion to $13.1trillion. 84 percent of C-suite executives and human capital leaders assume AI will leave an impact on the workplace in the next three to five years. Some even believe that automation will take over the human job market in the coming years, but ultimately recruitment is a human-led industry which won't suffice without us.Chatbots are designed to take-over the repetitive tasks and leave recruiters with time for more important task. They are the dream assistant for a busy recruiter, taking on all the heavy-lifting, boring jobs and doing them in an efficient manner. Moreover, chatbots can never take over the human emotion factor which connects us together and helps us to understand each other better. It's time that rather than hesitating and looking at the negative side, we start utilizing the features of a chatbot to the fullest, which will enable the recruitment industry to further flourish. With the heavy-lifting tasks been taken care of by a chatbot, recruiters can boost their productivity by indulging in more important tasks and creating a stronger relationship with the job-seekersVikram Wadhawan, Founder & CEO
< Page 8 | Page 10 >