Artificial Intelligence is the next big thing for recruiters

Artificial Intelligence is the next big thing for recruiters

15th March 2019

According to the most recent LinkedIn Global Recruiting Trends report, the biggest trends set to change how recruiters hire are:

Diversity: the new global mindset
Candidate assessment tools: newest ways to identify top performers
Data: the new corporate superpower
Artificial Intelligence: your secret workhorse

The annual report, published last year, surveyed over 8,800 recruiters and hiring managers from 39 countries to better understand these trends and help recruitment teams prepare their strategies. Artificial intelligence is the one trend that recruiters can tangibly use to transform the hiring process.

Real Links is firmly aligned with these trends with it’s referral platform which uses AI & automation to select the best candidates from employees’ networks and match them with roles at a company, rapidly increasing the speed and effectiveness of the traditional referral scheme. The fact that potential candidate profiles are anonymised for recruiters until the candidates apply, helps to root out unconscious bias in the hiring process and is a valuable method to implement workplace diversity.

Artificial intelligence is at times seen as a threat to existing positions in the job market, and although this may be true for some sectors, for recruiters in Human Resources the prospect of having a secret assistant that has indefinite stamina and assured dependability should be exciting and attractive.

Allocating the more administrative duties of collecting and going through CVs and profiles to AI, recruiters gain the opportunity to spend more time sourcing, screening and nurturing potential candidates. As one of the newer trends, we are only just learning its capabilities in transforming sectors for the better. While AI can replace much of the process, only 14% believe it will eliminate recruiters’ jobs. AI is simply a tool being used to generate more meaningful time for the recruiter and eliminates the jobs that clutter the process.

Jon Addison, Head of Talent Solutions at LinkedIn UK, commented “Over the past few years, hiring talent has become a repetitive, and sometimes transactional, process. But there is a shift happening, and these emerging trends are helping to elevate recruitment to a more strategic profession that focuses on the most important and gratifying parts of the job – the human part and thinking critically about how to win the right talent. It’ll be a keen finger on the pulse with these trends that will help recruiters stay alive in our ever-evolving market.”

Taking advantage and capitalising on emerging technology is the best way to ensure longevity and efficiency. Artificial intelligence and automated tools are some of the most creative and innovative solutions that have come out of the tech world and should be utilised by recruiters all over the sector to help them increase the speed and quality of their hiring capabilities.

If you would like to find out more about how Real Links is using artificial intelligence and automation to improve traditional referral schemes please contact sales@reallinks.io

Why should I improve my employee referral scheme now..?

Why should I improve my employee referral scheme now..?

15th August 2018

Successful employee referral schemes are a powerful recruiting tool for businesses – they provide significant cost savings and help companies to make more productive hires who stay long term. The problem is that increasing referrals still tends to fall quite low down on the priority list for companies.

Don’t just take our word for it though, let’s have a look at some of the key stats…

9 Key Statistics

1. Highest ROI

82% of employers rated employee referrals above all other sources for generating the best return on investment (ROI)

2. Better quality hires

88% of employers said that referrals are the #1 best source for above-average applicants

3. More likely to be hired

Employee referrals are 3-4x more likely to be hired than non-referral candidates

4. Better retention rates

Employee referral candidates have an average retention rate of 46%, compared to the 33% retention rates of organisations that only use career sites

5. More affordable

 Hiring through employee referrals saves companies at least £2,270 per hire

6. More likely to accept the job

Referred candidates are more likely to accept the job

7. Reduce time to hire

Employee referral candidates are 55% faster to hire, compared with employees hired through other channels

8. Good for diversity hires

Employee referrals are the #1 most productive source of diversity hires

9. Attract passive candidates

Employee referral schemes are more likely to attract passive candidates than other recruitment channels

These are just some of the key stats which show how running a successful referral scheme can be transformative for companies.

If you’re interested in implementing a referral scheme or improving your existing one, Real Links’ employee referral platform can help!

If you’re looking to learn more, feel free to get in touch by emailing sales@reallinks.io. We’re always happy to chat!