CXO

Recruitment automation tool drives down cost-per-hire by 71%, powered by AI

A new recruitment program from SmartRecruiters and Ideal automates time-consuming tasks to quickly move top candidates through the recruiting process.

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Image: iStockphoto/Jirsak

The hiring process is about to get automated. On Tuesday, SmartRecruiters and Ideal announced a partnership that will bring Ideal's artificial intelligence (AI)-powered recruiting software to the SmartRecruiters Marketplace recruiting tool, available immediately.

The tool uses AI to automate time-consuming, repetitive tasks and quickly move top candidates through the recruiting process, according to a press release. The technology can instantly screen and shortlist new candidates, search through past candidates who would be a good fit for a new role, and automate candidate contacts to determine their interest.

"There are three major barriers to efficient candidate engagement," said Somen Mondal, CEO and co-founder of Ideal, in the press release. "To begin with, employers can't re-engage the gold mine of past applicants already in their ATS. Secondly, overwhelmed by the sheer number of applications they receive, up to 65% of their resumes go untouched. Finally, the initial outreach process is extremely time-consuming and inconsistent. Ideal's AI quickly solves all these problems and all within the SmartRecruiters interface."

SEE: 4 tips to help your business recruit, and keep, cybersecurity pros

Customers using the new tool have, on average, tripled their qualified candidates and reduced cost per hire by 71%, according to the press release. They have also increased overall recruiter productivity by 3.7 times.

Automating these tasks can free up recruiters and hiring managers for the higher level work involved in hiring, such as interviewing. It can also give companies an edge in finding and hiring top talent before the competition does, according to the release.

"Once we identify top candidates for a specific role, we can automate the next steps with a very high level of personalization," says Ideal COO and co-founder Shaun Ricci in the press release. "Many of our customers have completely eliminated manual resume screening and depend on Ideal to automatically identify top candidates and invite them in for an interview."

Companies including Visa, Skechers, Atlassian, Equinox, and Alcoa currently use SmartRecruiters.

Recruiting processes are not the only place where AI is infiltrating the workplace. In April, AIR announced an AI software product called Vibe that can search Slack messages on public channels for clues about employee satisfaction, and report back to managers. And Facebook recently launched Automated Insights, a new machine learning service that can alert businesses to anomalies in behavior and trends and provide omnichannel data to act on, as TechRepublic's Jason Hiner reported. With AI and cognitive computing spending expected to rise exponentially through 2020, it's likely that we will see more and more AI integrations in the workplace.

The 3 big takeaways for TechRepublic readers

1. On Tuesday, SmartRecruiters and Ideal announced a partnership that will bring Ideal's artificial intelligence (AI)-powered recruiting software to the SmartRecruiters Marketplace recruiting tool, using AI to automate time-consuming, repetitive tasks and quickly move top candidates through the recruiting process.

2. Customers using the new tool have, on average, tripled their qualified candidates and reduced cost per hire by 71%.

3. The tool joins several other AI-powered software options increasingly being integrated into workplaces.

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About Alison DeNisco

Alison DeNisco is a Staff Writer for TechRepublic. She covers CXO and the convergence of tech and the workplace.

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