Ai Recruiting User Guide R4 Indd

center of excellence by How AI Technology Transforms Recruiting & Hiring A POWER-USER GUIDE INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 THE CHALLENGES TO SOURCING DIVERSE, QUALIFIED CANDIDATES . . . . 4 HOW AI IMPROVES CANDIDATE SOURCING . . . . . . . . . . . . . . . . . . . . . . 9 HOW AI BOOSTS CANDIDATE ENGAGEMENT . . . . . . . . . . . . . . . . . . . . .15 HOW AI IMPROVES RETENTION OF DIVERSE EMPLOYEES . . . . . . . . . . . .18 PAYCOR SMART SOURCING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 ABOUT PAYCOR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 What’s Inside:

THE GOOD NEWS: Talent acquisition leaders are thinking about AI as a viable technology to improve talent sourcing and recruiting. THE BAD NEWS: Most companies lack the data, tools, and knowledge to achieve their goals in a market where AI has become a buzzword, loosely used by many vendors. However, with the right technologies and training, companies can achieve their hiring goals faster and more efficiently. One of the most exciting features of AI is its ability to tap into a giant pool of passive candidates. Passive job seekers are individuals who are currently employed and not actively looking for a new job, but who may be open to a career opportunity if one came along. 70% of the global workforce are “passive” candidates (LinkedIn). Ignoring the potential of this talent pool is a big mistake. “Passive” candidates are 120% more likely to make a strong impact on the company that hired them (JobVite). Let’s start by outlining the challenges that talent acquisition teams face when they try to hire “passive” job seekers. Introduction INTRODUCTION CHALLENGES TO SOURCING The Challenges to Sourcing Diverse, Qualified Candidates Limited Data Most companies use tools such as LinkedIn to source passive talent. However, LinkedIn is only one source for talent data. If you’re an engineer, most of your data is likely to be on sites such as GitHub and Stack Overflow. Moreover, with LinkedIn, you are limited to viewing talent within three degrees of separation from you. With a smaller pool of talent, minorities are harder to find. Limited data also challenges recruiters by making it impossible for them to know if they are searching the entire possible pool of candidates. With limited data, they don’t know how many candidates are available for open roles and what can be done to expand that pool.