Businesses have been utilizing artificial intelligence applications for the last several years, particularly when it comes to AI and hiring applications for human resources professionals. A growing number of organizations now offload many routine-yet-important tasks to these applications, freeing them to reallocate their time to other, more pressing responsibilities. It makes sense, then, that organizations are also implementing AI applications for a whole host of critical business functions—including sourcing and hiring global talent.
The Role of AI in Global Talent Acquisition
One of the most impactful ways that AI and hiring are currently intersecting also happens to be one of the most immediate: resume analysis. With the right piece of analytical software, recruiters can now scan through countless resumes looking for ideal candidates in a fraction of the time it used to take them. Instead of filling their days with stack after stack of resumes for a particular position, AI can be used to effortlessly narrow the field by identifying similarities between A) a person's experience, and B) the specific position for which they are applying. Not only has this elevated recruiting processes, but it's also ushered in an era where the "generic resume" is all but no longer enough for an applicant to stand out and, increasingly, find its way to the top of an algorithm’s candidate list.
This, of course, also presents a problem, as most AI applications are currently incapable of seeing the subtleties and nuances in one's experience that once would have placed them towards the top of the ever-growing applicant list. Because of this exacting nature of AI, a "general" resume that speaks to one's experience in a broad sense will almost certainly lead to an immediate disqualification. Instead, applicants need to essentially craft unique resumes for each position for which they are applying, and hiring personnel should exercise caution when reviewing AI-generated applicant lists; current AI technologies may exclude some high-quality hires simply because of a (perhaps unnoticed) flaw in the algorithm(s).
Still, it's hard to argue against the greater benefit of this blooming domestic and global hiring practice, particularly with regards to what these applications enable employers to do. One business was even able to open its base of applicants from a handful of college campuses to literally thousands of universities across the country, thus doubling the number of applications it received in the process. At the same time, it was also able to significantly condense the hiring process for an average position from several months to just a few weeks. None of that would have been possible even as recently as five years ago.
Build Your Global Team with an Experienced Partner
AI is changing how businesses find global talent—but the technology isn't completely ironed out just yet. Soon, though, AI tools will allow businesses to go after not only highly targeted candidates, but to also vet for things like character to create more effective sourcing and outreach across the board.
Businesses will continue to have more and more hiring tools at their disposal, but having the right partner on your side through the sourcing and onboarding of your global team can make all the difference in not only who you hire, but how you hire.
Velocity Global and our International PEO (Professional Employer Organization) solution, also known as Global Employer of Record, has assisted hundreds of organizations in expanding operations into new international markets, helping companies find the best talent to meet their growth objectives.
Want to learn more about how a Global Employer of Record can have you and your team operating in your new market in record time? Let’s talk.