Hiring the right people is crucial yet challenging. Between sorting through resumes, coordinating interviews, and phone screening, recruiting takes up tons of time and money. Many companies rely on manual techniques that drain resources.
However, savvy organizations utilize AI-powered recruiting automation to boost performance and slash costs. From automated sourcing talent and screening applicants to streamlining communication and scheduling, Jesica.ai will help you handle tedious tasks, allowing you to focus on high-impact HR initiatives.
Let’s explore how leading-edge AI recruiting technology can transform your hiring process.
What is recruiting automation with AI?
Recruiting automation with AI refers to the use of technology to systematize and streamline talent acquisition processes. It involves leveraging specialized software, algorithms, and artificial intelligence to automate high-volume recruiting tasks.
The main goal is to digitize and accelerate sourcing, screening, assessing, and engaging candidates. Automation handles tedious and repetitive activities so recruiters can focus on higher-impact relationship-building and hiring strategies.
Key examples of automated capabilities include:
- Automated sourcing and outreach to potential candidates based on skills, experience, fit
- Instant screening of resumes using LLMs (Large Language Models) and machine learning models
- Chatbots conducting conversational candidate interviews
- AI assessment of video interviews through verbal analysis, facial coding, and voice analysis
- Automated scheduling and calendar management
- 24/7 instant answers to candidate questions via chat
Implementing the right blend of automation and innovation ultimately transforms the recruiting sector. Jesica.ai is the best-in-class AI recruitment assistant handling the drudgery, while humans provide the personal touch.
Reasons why recruitment is costly
Before explaining how automation in recruitment cuts expenses, it helps to understand why recruitment is pricey in the first place. The major costs include:
1. Costs of posting and advertising the vacant positions
Posting positions on premium boards like Monster, Glassdoor, and Indeed involves steep fees. While this does widen the talent pool, the cost stacks up quickly.
Organizations seeking lots of applicants spend thousands per month advertising roles across many sites and channels.
Companies also shell out substantial sums promoting open roles across platforms like LinkedIn, Glassdoor, Facebook, Google Ads, job boards, and more. Budgets often exceed thousands per posting.
The more applicants you want to attract, the more ads cost. Organizations often pay to post jobs on ten or more sites to attract enough quality candidates. With multiple openings, these ads quickly add up.
2. Costs of screening and interviewing candidates
HR teams invest tons of hours interviewing prospects, checking references, and evaluating applicants.
Screening calls, coordinating schedules, conducting interviews, sending follow-ups, and assessing candidates take the lion’s share of the recruiters’ time. Factor in their salaries, and it adds up fast.
According to SHRM, the average cost to interview and assess each candidate is over $4,700.
3. Costs of conducting background checks
Vetting applicants’ criminal records, credit, credentials, and references don’t come cheap. Background checks average around $20 each but can surpass $70 for executive roles requiring deep investigation.
To properly vet candidates, companies spend this chunk of change on everyone they consider making an offer to.
4. Costs of training the new hires
Onboarding and training recruits require substantial resources, too. HR and department leaders devote many hours to acclimating workers to roles, systems, and processes.
Companies often pay for external training programs, too. Training costs stack up between orientations, workshops, manuals, and coaches.
5. Salaries of extra team members participating in the hiring process
The more people involved in recruitment, the higher the overall expenses. Hiring managers, interviewers, recruiters, assistants, and leaders dedicate portions of their pricey salaries to the process.
Having leaders and cross-functional team members conduct interviews and assessments drives up labor costs tremendously.
6. Costs of a bad hire
Making the wrong call and hiring someone who underperforms or leaves quickly results in astronomical costs. The average cost of a bad hire is over $17,000 when factoring in training costs, lack of productivity, and replacement hire expenses.
With turnover rates hovering around 30% in many industries, bad hires take a massive financial toll on organizations. Avoiding just a few mis-hires per year results in significant cost savings.
As you can see, recruitment necessitates significant spending across many categories. However, Jesica’s AI capabilities in recruitment and its focus on quality hires can flip the script entirely.
How recruitment automation with AI with Jesica.ai helps cut costs
Automating recruitment with artificial intelligence slashes many of the costs outlined above. Let’s explore the main ways it saves money:
1. Attract a wider pool of potential talents
Automated recruitment uses data and algorithms to target passive candidates open to new roles yet not actively job searching. This expands your talent pool immensely without paying to post jobs explicitly.
Jesica.ai’s smart technology allows you to identify prospects from your historical pool of candidates aligned with open positions. It surfaces leads based on historical data and then proactively contacts them, reducing the need for expensive job board postings and ads.
2. Pre-screen applicants faster
Typically, HR pros or hiring managers manually review every single resume, which consumes excessive hours. Screening calls, interviews, assessments, and follow-ups devour a massive amount of time per applicant.
Being a top-notch AI hiring assistant, Jesica.ai filters applications instantly using keyword searches, machine learning algorithms, and automatic screening questions. This removes the most unqualified applicants immediately, so your team focuses only on the best options.
3. Schedule interviews at your own time
Scheduling interviews traditionally requires extensive email back-and-forth and phone tag. Recruiters burn substantial time finding openings that work across candidates, hiring managers, and other interviewers.
Jesica’s AI-driven recruiting software enables candidates to conduct the HR and technical screening at their own convenience, which removes a massive administrative burden.
4. Reduce time-to-hire
Closing vacancies costs employers a lot in lost productivity. The faster you fill roles, the more money you save.
Hiring automation shortens cycles immensely. For example, by using automated recruiting technology, McDonald’s time-to-hire was reduced by 60%. Imagine the costs you can dodge by filling openings exponentially quicker with Jesica.ai.
5. Lower cost per hire
According to Bersin’s Deloitte study, AI reduces cost per hire by an average of 27%. The AI technology behind Jesics.ai minimizes expenses throughout the entire recruiting journey, from automated candidate sourcing to screening to interviews and offers.
6. Minimize new hire turnover
One-third of new hires quit within the first six months, typically due to needing a better cultural or technical fit. Replacing employees costs at least 30% of their annual salary on average.
Jesica’s AI assessment tools analyze applicants’ attributes to predict alignment with the role and company culture. Hiring people who mesh better lowers onboarding costs and early attrition rates.
7. Provide a holistic view of the candidate
AI recruitment platforms can see candidates beyond their resumes. Talking to candidates in video interviews can help them understand their sentiments and emotions through analyzing speech patterns, facial expressions, and body language.
Combined with conversational assessments that simulate human discussions, AI can evaluate critical thinking, creativity, and emotional intelligence. This holistic analysis provides insights into soft skills, motivation, personality fit, and potential.
8. Engage applicants to prevent abandonment
According to SHRM, over 80% of applicants abandon the hiring process due to frustrating experiences. Communication gaps or delays frustrate job seekers.
Jesica.ai talks to candidates promptly, informing them about where they stand in their current application process. While candidates applying through Jesica.ai are being offered the job, competitors would still be going through the resumes, screening them manually.
This results in fewer people dropping out and maximizes your funnels.
9. Save money on other tools and apps
Many companies use separate tech solutions for tasks like automated resume screening, interview scheduling, candidate relationship management, etc.
By using an integrated platform, Jesica.ai, you access a full-suite recruiting solution through a single AI assistant. This consolidated approach replaces the need for multiple vendors and systems, preventing excessive software costs.
10. Make smarter decisions with enhanced analytics
An additional benefit of AI-powered recruiting tools is the wealth of data they provide through robust analytics. Unlike manual processes, the recruitment process automation tracks and quantifies every interaction across touchpoints.
Jesica.ai records granular metrics on:
- Source of applicants
- Conversion rates by channel
- Dropoff rates by recruitment stage
- Hiring manager satisfaction
- Candidate satisfaction
- Time-to-fill by role type
Accessing these data-driven insights enables recruiters to optimize their processes continuously. They can double down on highly converting sourcing channels and campaigns. Recruiters can also fix aspects of the funnel with excessive candidate dropoff through targeted improvements.
Analytics shine a light on what works best for attracting and engaging candidates. The intel guides smarter resource allocation to maximize results. For example, indicators may show referral campaigns outperform job board ads 3-to-1. This could inform shifting more budget into employee networks.
Likewise, analytics may reveal candidate satisfaction plunges during certain interview stages. Recruiters can address pain points through anonymized feedback surveys.
Data is invaluable for systematically improving recruitment over time. AI provides rich insights that manual processes cannot deliver.
How Jesica.ai transforms the hiring processes
In addition to significant cost savings, implementing Jesica’s AI recruitment technology into your workflow will significantly improve your team’s performance. Let’s explore some key advantages you’ll get.
1. Shorten hiring cycles
Jesica’s AI automation helps shrink the time between opening requisitions and making offers. Tedious tasks like screening and scheduling are streamlined, accelerating processes. These days or weeks are off the typical time-to-fill. The technology prevents administrative bottlenecks.
2. Achieve better candidate-job match
Jesica.ai leverages predictive algorithms to surface optimal job fits from applicant pools. This reduces mis-hires and turnover. Assessments model candidates against role and culture need to predict alignment. The AI identifies applicants most likely to excel.
3. Boost offer acceptance rates
Recruiting automation with Jesica’s AI provides a smooth candidate experience and surfaces great fits, increasing offer acceptance. Happy, aligned candidates say yes. The technology delights applicants.
4. Remove biases
Jesica’s smart algorithms consistently evaluate applicants based on abilities, removing human prejudices around demographics. This diversifies hiring by minimizing unconscious biases.
5. Increase recruiter productivity
Let recruiters focus on value-added activities by automating high-volume tedious tasks with Jesica.ai. This multiplication effect improves output and efficiency.
6. Improve hiring manager satisfaction
Automation helps recruiters find great candidates quickly, pleasing stakeholders. Analytics also help tailor to manager needs by aligning on ideal profiles.
Combining performance lifts and cost savings makes AI recruitment automation with Jesica.ai a lucrative investment. The multitude of benefits drive strategic value.
Skyrocket your recruitment potential with Jesica.ai!
As you can see, AI and automation provide tremendous potential to cut costs and boost productivity. Smart technologies streamline arduous tasks like resume screening while extracting powerful data insights. This modern approach slashes spending while delivering optimal results.
Introducing an innovative AI recruitment platform, Jesica.ai, allows you to leverage all these perks. Purpose-built for talent acquisition and recruiting automation, our software handles high-volume tasks intelligently. The AI conversates with and screens candidates 24/7, enabling your team to focus on more strategic initiatives.
Ready to take your recruiting to the next level while cutting your hiring time and costs by half? Request a demo today at https://jesica.ai/.
