Machine learning and data science driving the evolution of recruitment
Developments in data, machine learning, predictive analytics and digital technology have resulted in a transformation of the recruitment model with a fundamental change in the way organisations access and recruit much needed talent, according to recruiting experts Hays plc.
A new report launched by Hays, Recruitment Remodelled examines the evolution of the recruitment industry where the traditional human-centric skills of matching candidates with organisations are now working hand-in-hand with data science, machine learning, predictive analytics and other digital tools and technologies.
“In my ten years as CEO of Hays, I have never seen the recruitment and staffing industry evolving as rapidly as it is today. Technology, the dynamics of the digital world, and the advent of data science and machine learning are fuelling these changes. For business, the fundamental underlying issue of finding the best talent for their organisation hasn’t changed, but what has evolved across our industry is how to manage this process in an age where technology has brought new ways of finding top-quality talent,” said Alistair Cox, Hays plc CEO.
The traditional approach to recruitment–defined by Hays as advertise and apply–has relied upon organisations promoting their vacancies across multiple channels to solicit applications from jobseekers. This long-established model is no longer enough in today’s digital world as it is primarily directed at the active, rather than the passive, jobseeker community. In addition, the ease at which candidates can respond to online job advertisements has led to an unwieldy process with high volumes of responses being received, many of which prove to be unsuitable for the role.
A new recruitment model has been developed and deployed by Hays–defined as find and engage–that combines the best practice recruitment techniques and established candidate relationships with the new opportunities presented by digital technology, data science and machine learning. This approach is designed to maximise the likelihood of organisations finding the best talent by enabling them to search beyond those active jobseekers, and reach deep into a much wider pool of passive candidates.
“There has always been a real art to recruiting the best talent, built around the development of trusted relationships and an ability to assess the compatibility of a candidate for the vacancy. However, recent significant developments in data, machine learning and digital technology allows us to now combine art and science to deliver better solutions, faster and at real scale. This digital world and our new find and engage model is putting the relationship between a recruiter and a candidate back at the heart of recruitment. The value of ‘human touch’ in our industry cannot be overestimated and this will always be at the core of what we do. But the new technologies and data science we are pioneering enable us to evolve our processes and allow us to work at a scale that has not been possible before, ensuring we always find the very best candidates wherever they are, for our clients, enabling them to not only succeed but to flourish,” Cox added.