I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...Full Bio
I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.
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Three Ways Machine Learning Is Improving The Hiring Process
Machine learning has begun to have its impact on all major business processes and HR is no different. Machines can really make the process of hiring and managing employees more efficient. Let's have a look at three ways machine learning can improve the hiring process.
1. Valuable Recommendations
Almost all HR professionals today make use of recruitment platforms to find potential employees using a search based system where in they can create a list of candidates based on a variety of factors like industry, skill, experience and location. However, using Machine learning, HR managers would no longer have to manually process all applications in order to find the right fit. Rather, they will be able to use networking and job sites that use machine learning to offer them valuable recommendations for the role in question. This will make the process more efficient both for recruiters as well as job seekers.
2. Eliminating Bias
The use of machine learning in hiring can lead to the creation of a level playing field in this process. The technology can help provide equal exposure of opportunities to job seekers irrespective of their background or pedigree. Algorithms will be able to focus on skill based data and not factors like where a candidate studied, the companies they have worked for, ethnicity or gender.
Another important factor to keep in mind is that candidates are often not aware of their value and the kind of compensation they should seek. Here also machine learning can help by exposing salary data for the specific role candidates are looking for based on geography and various other factors.
Humans are biased and in many cases suffer from unconscious bias. Machine learning can prevent this bias from creeping in during hiring by using data. Using data, we can figure out the preferences of hiring of managers. It is quite true that we all like to surround ourselves will people like us. This is where data could play a role. By bringing to the fore statistics around diversity, employers will be better informed and will not risk out on losing diverse candidates.
Several studies have been conducted that show that diverse teams lead to improved financial outcomes. These studies are however based on surveys. Machine learning can help quantify such outcomes for businesses that will help incentivize better human behavior at the time of hiring.