By Jessica Demmer • March 6, 2019

3 Ways AI For Recruitment Will Drive Company Growth

Have you heard about AI in recruitment but still aren’t sure if it’s right for your company?

Most founders are interested in the real results that AI can bring for their recruitment strategy. AI has already proven to drive down hiring costs and streamline the entire process.

Recent customer stories and statistics all point to the same thing – that AI is incredibly valuable as a recruitment solution for virtually every type of organization.

First a brief explanation of what it means to use AI in recruiting

  1.  With AI, your recruiters no longer have to sort through hundreds of resumes for a new job posting (often only having 5-6 seconds per resume review). AI can match and rank  candidates to the right job, increasing the quality submittal rate by over 2x.
  2. Before AI, your recruiters had to manually contact candidates to engage and pre-screen them for the job. 52% of recruiters say that the most difficult aspect of recruitment is screening candidates from a large pool. But an AI powered chatbot can have detailed, personalized, and entirely machine driven conversations with millions of candidates to screen for the right ones.
  3. With AI, the recruitment process can be accelerated by over 35%, freeing up your recruiters time to focus on engaging top talent, building your company brand, and beating the competition. 

AI in recruitment will help your company grow:

#1 – The numbers prove that AI will speed up your hiring process and lower costs

With the cost of AI solutions being dramatically lower than the amount it can potentially save per recruiter and hire, it’s an obvious decision.

From a pure numbers standpoint, the benefits of adopting AI are clear:

  • It increases the quality submittals rate by 2x, decreasing the time to fill by up to 11 days.
  • It matches and qualifies candidates 35x faster, giving recruiters 3 hours of their day back.
  • It reduces the cost of a new hire by up to 25%
  • It can give back up to $510 per week or $26,510 per year for a recruiter with a $70k salary.

[Infographic: How AI Improves Key Steps in Recruiting]

#2 – AI gets better and better at finding you qualified candidates

Why use AI with your standard ATS systems? Because AI goes beyond basic key word matching and tracking applicants – it gets the right people into the right job at the right time – and it does this increasingly better each time.

Through analyzing millions of other similar jobs, solutions like Avrio AI suggest valuable skills that may be overlooked by your recruiters and fine tunes each candidate list so that you get better and more skilled candidates for each job posting.

As your recruiters define the skills that are the most valuable to your organization, our AI uncovers the candidates with the highest FitScores that already exist in your database.

#3 – AI keeps your company competitive and modern

Regardless of what industry you are in, the competition has likely begun using AI in recruitment and will continue to do so.

With machine learning driving recruitment AI, large volumes of data are essential for it to operate at its best.

The sooner you start using AI, the bigger the data set it will have to streamline your recruitment, and the more valuable that AI will be in the short term and down the road.

The companies that will be in the best position to implement upcoming innovative AI features in recruitment are the ones that will have adopted it first before anyone else.

It's easy to incorporate AI into your hiring process

AI brings immediately impactful cost savings and streamlining advantages to your company. Right now is the perfect time to start using it in your recruitment for growth.

If you’re concerned about the startup costs, it thankfully doesn’t take much to incorporate AI – especially considering the costs of a slow, inefficient hiring process!

Avrio integrates right into your existing ATS with a painless setup.

Schedule a demo of Avrio today and take your recruitment strategy and company into the modern era.