This blog discussing the use of bots for talent acquisition was originally published in July of 2018 and it is still an important topic. All relevant facts, sources, and statistics have been updated as of August 2022.
Since their inception, there’s been a lot of buzz about bots for talent acquisition. People are excited about artificial intelligence and machine learning, and for a good reason. While we’ve had a few years since early adopters implemented the technology, we’re constantly learning more and more about the impact of a tool like this.
Despite all the buzz, bots are not about to replace humans. That’s not their MO. But, they could save humans a lot of time on menial, time-consuming tasks and let them focus on high-value work.#Bots are taking the #TalentAcquisition world by storm. @TalentTechLabs explains why they’re such a hot topic: Click To Tweet
So, while you shouldn’t expect bots to bring cognitive powers to your Talent Acquisition process any time soon, the future of chatbots leveraged within the process is certainly worth exploring. Let’s look at the promise of bots for talent acquisition: improving the candidate experience and creating a faster, scalable, data-rich recruitment process for hiring teams.
Improving the Candidate Experience
Historically, hiring organizations could talk to candidates through one-to-one phone calls, in-person meetings, or by collecting information through online forms. Many organizations still employ these tactics, and while they’re not necessarily antiquated, there are more efficient and intelligent alternatives available in bots. Bots make those conversations more engaging than submitting a resume online and more scalable than talking one-on-one with a recruiter.
Want proof? The average satisfaction rate of bot-only chats is 87.58%, almost 2% higher than the satisfaction rate for chats that get passed over to human agents.
Candidates get a response in real-time, without waiting for someone to follow up. When time is of the essence, and in recruiting, it always is, making that instant connection goes a long way. In other words, bots can help create personalized interaction at scale.Why is everyone talking about #bots in #TalentAcquisition? @TalentTechLabs has the answer: Click To Tweet
While a chatbot on a career page might seem basic (and the technology is), the experience for candidates is pretty transformative. Drew Austin, the CEO, and co-founder of Wade & Wendy, says that even when candidates know they’re talking to a bot, they feel respected and cared for. “People humanize it,” he says. “They actually say things like ‘thank you for listening’ to a machine because they like the opportunity to be heard. It’s giving job seekers a platform to actually be able to tell their story without being rushed off the phone.”
The Case for Chatbots Proven By Powerful Statistics
- 35% of consumers say they would like to see more companies taking advantage of chatbots.
- 60% of people have engaged with a chatbot in the last year.
- 57% of businesses say that chatbot delivers a massive ROI on minimal investment.
- According to 68% of consumers, they like chatbots because they provide speedy answers.
- 64% of businesses believe that chatbots will allow them to provide a more customized customer experience.
- By the end of 2022, expectations are that 35% of organizations will use chatbots for a large part of the recruitment process.
Collecting More Candidate Data and Freeing Up Recruiters’ Time
For the hiring organization, bots save massive amounts of time and supercharge candidate data collection. Instead of tasking recruiters with scheduling and completing individual candidate screens and interviews, a hiring organization can deploy a bot for a number of those initial candidate conversations.
Good recruitment ChatBots can help you save time by answering up to 80% of common inquiries in under a minute.
When you remove repetitive, time-consuming administrative tasks like scheduling from recruiters’ plates, they’re free to spend more time on high-value recruiting activities like interviewing and building relationships. As a result, organizations can screen more quickly, schedule interviews more efficiently, and, eventually, decrease the time to hire and increase the output of recruiting teams.
“When you can bring people quicker from A to B to C to D, and eventually reduce the time to hire, that’s something companies can quantify,” says Luc Dudler, founder and CEO of jobpal. “That has a huge impact on their ability to hire great talent.”
The eventual goal of chatbot-powered recruiting? To create a platform that connects data from each stage of the candidate lifecycle to reveal new insights about ideal candidates and the recruiting process.
We’ve certainly come a long way from the early days of chatbot use, and luckily we have strong data backing up this investment decision. In 2022, chatbots are admittedly not the newest or hottest technology on the market, but their measurable impacts and visible results help strengthen the case for investment.
Staying on top of the latest trends and technological advancements can be a full-time job for any recruiter. In today’s space, recruiters and organizations need the support of a strategic, dependable partner to grant insights into the current state of the market and future-proof strategies that can lead to continued growth. That’s why thousands of organizations trust Talent Tech Labs. Rooted in science and backed by research from the practitioner’s vantage point, TTL provides organizations and talent technology leaders with the data they need to make informed decisions regarding their talent strategy.
To learn more about how TTL can help you intelligently invest and implement the tools at your disposal, reach out to our team today.