3 new types of AI staffing technology for sourcing
The 3 main benefits of AI for staffing are in automating repetitive high volume tasks, enabling better use of data, and creating positive candidate experiences. But recruiting communications isn’t the only area where AI is changing staffing technology.
By looking to build a stack of AI staffing technologies, staffing firms can create a competitive advantage in every area of their strategy. This article will show you how staffing companies can use AI-powered technologies to gain competitive advantages in sourcing.
New AI Staffing Technology:
The world’s largest staffing companies use AI and automation in their staffing technology to create competitive advantage. One area they use it in is in sourcing.
Technology can outperform humans in specific tasks, but when it comes to sourcing, a mix of the right AI and automation technology with human know-how is how the world’s leading staffing companies find candidates in 2020.
Run more efficient job advertising by using AI-enabled algorithms:
Staffing advisors found that job advertising produces a poor ratio of “on target” to “off-target resumes. Still, it’s a part of a staffing company tool kit that isn’t going anywhere soon.
Out of the fraction of the job market that answers your ads, about 1 in 30 will be qualified for the position and available. In 2020, what you’ll want to do is use technology to improve the number of qualified candidates you’re able to reach with your ads as well as to use tech to engage the candidates that come in through job ads more effectively.
PandoIQ, is a programmatic job advertising platform that uses AI-enabled algorithms to automatically classify jobs, predict job and campaign performance, dynamically allocate spend, target candidates, and optimize your job advertisement CPC bid rates in real-time.
PandoIQ, and solutions like it, let you use over 200 billion historical job performance data points to target more relevant candidates across Indeed, CraigsList, LinkedIn, Monster, CareerBuilder, ZipRecruiter, and others.
Using AI to target and optimize your job ads will create a serious increase in performance and reduce wasteful spending.
Automate your candidate referral program:
The high volumes of referral outreach and tracking needed to execute a useful candidate lead referral program are the biggest roadblocks preventing you from creating more pipeline. Other issues that get in the way of your referral program include insufficient staff education, ease of use for candidates, and a lack of awareness amongst candidates of your program.
Staffing Referrals is a digital referral platform that automates and manages the referral programs for the largest staffing firms in the world.
Their automated referral platform can help you get 57% more referral leads from your existing talent pool. It automatically tracks every referral, integrates with Bullhorn, and enables you to leverage your talent pools to spread the word about your brand.
Social media has made it easy for anyone to become a brand ambassador. A neat feature of Staffing Referrals is that it also comes with some interesting tools to help your candidates spread your brand and generate more referrals.
Refresh your passive candidate database with CAI
Your candidate database is the first place you look when you need to make a new placement. But your candidate database constantly ages. Your candidate information becomes out of date as candidates move into new positions, priorities, and locations.
Conversational AI for staffing can reach out to your entire passive candidate database, create 50% response rates, and reactivate 14.5% of passive candidates in each outreach.
By using a conversational AI platform, like Mya, you can constantly provide your recruiters with more candidates at additional cost to you since you’re sourcing more effectively from the database you already have.
Using CAI on your database has the added benefit of keeping your brand top of mind with candidates, and keeping all of your candidate data fresh and up to date.
Create a competitive advantage by leveraging recruiting AI and automation
AI can help your staffing company differentiate itself from your competitors in several ways. It can create a more positive and effective hiring experience for your candidates, which means they’ll want to continue to work with your firm over others. It can help you make placements more quickly at scale and in turn, can help your company increase revenue and grow. Finally, it can make your recruiting teams more effective which opens the way to establishing better relationships with your clients and candidates.