At Bullhorn, we discuss to recruiters and staffing corporations every single day, and we’re listening to the identical issues time and again. Recruitment corporations are coping with margin strain whereas additionally making an attempt to distinguish themselves competitively. These will not be simple occasions for anybody, and the day-to-day of recruiting is simply tougher.
The excellent news is that almost all corporations are literally bullish on their outlook for the longer term, with practically two-thirds predicting a income improve. Why?
One main purpose is the latest explosion of AI expertise. AI has matured to some extent the place it really can ship vital worth and assist recruiters in methods it couldn’t earlier than. For this reason we see corporations seeking to AI as a option to remedy a few of the enterprise challenges they’re going through. And we, at Bullhorn, agree — AI is extra accessible, extra highly effective, and extra relevant to recruiting use circumstances than ever earlier than.
Our strategy is easy, however vital. Bullhorn is reimagining recruitment with AI infused in every single place. We’re taking a tough take a look at the place and the way recruiters spend their time to determine duties and actions which are well-suited to enhancements from AI, and we’re creating AI capabilities and options to particularly goal these elements of the recruitment life cycle.
How Bullhorn’s AI will affect the recruitment lifecycle
As we speak’s recruitment course of remains to be largely guide, with recruiters spending their time promoting to shoppers, sourcing and screening candidates, and submitting their high candidates — all whereas checking off varied administrative duties and staying on high of their to-do lists.
Guide processes like looking for the best candidate, drafting and sending introductory messages, and creating pre-screening questions depart little time for the core individuals facet of recruiting – constructing relationships. AI, when utilized appropriately, empowers a brand new means of recruiting by permitting recruiters to expedite guide processes and focus their effort and time on direct interactions.
The brand new means offers recruiters the flexibility to widen the funnel to seize extra candidates and very, in a short time slim it again all the way down to solely the easiest ones. As an alternative of spending their time and vitality making an attempt to discover the candidates who’re the perfect match, they will now spend their time and vitality straight with these finest candidates.
S.E.A. of knowledge
Now that we all know the place to use AI, let’s discuss how. Since AI is just nearly as good as the information that helps it, you want a companion who can leverage the appropriate information to ship the outcomes you and your customers expect. Bullhorn is the biggest recruitment-specific AI supplier and we prepare our fashions on a “S.E.A. of knowledge” that’s Specific to recruitment, Enormous, and Actionable.
Throughout our platforms and merchandise, Bullhorn has over 22 billion information factors particular to recruiting. These embody:
- 800 million candidates
- 121 million jobs
- 453 million submissions
- 60 million placements
I need to name out the variety of submissions and the variety of placements – these are so vital as a result of with out them, you may have 800 million resumes, however you don’t know which resumes resulted in profitable outcomes. This outcomes-based information is what helps make our matching fashions correct. Bullhorn is aware of what success appears like at scale.
AI in motion
So, what are we really constructing to make AI-powered recruitment a actuality for you? Bullhorn is creating plenty of AI capabilities and AI brokers focused at particular kinds of duties and actions throughout the recruitment life cycle. Listed here are a number of examples of what we’re engaged on for you at this time – with much more to return!
Generative AI: We’ll be increasing GenAI in every single place throughout the appliance and constructing a configurable immediate studio. We’re additionally, and really critically, integrating generative content material into Automation – that is key for scaling the ability of AI.
We’re additionally utilizing an “assistant agent” to make sense of and enrich all of the unstructured information in Bullhorn. Bear in mind these 22 billion information factors? About 20 billion come from notes and emails, and there’s a goldmine of data locked in there. AI helps us extract key info and replace fields robotically. For instance, think about pulling out desired wage or location info so as to add to the candidate file. And tagging information too – think about tagging notes with themes like compensation discussions after which having the ability to filter on these themes. It’s a large shift from how we use – or barely use – unstructured information at this time.
Search & Match: Search is a elementary element of the platform and the place our prospects spend most of their time, as a lot as 35% of their day! We’ve got a very new search expertise underway that has a reimagined UI, is considerably quicker, and has quite a few AI capabilities built-in, equivalent to key phrase growth, robotically constructing searches, utilizing machine studying fashions educated on the S.E.A. of knowledge to rank candidates and supply suggestions, brokers that robotically supply within the background, and multi-board searches – all built-in right into a single expertise.
Screening: Our prospects at this time spend a couple of quarter of their time qualifying candidates. Guide screening is time consuming, it’s costly, and you must prepare recruiters to do it proper (and lots of nonetheless don’t). There’s a huge alternative loss as a result of most candidates aren’t reviewed, high-quality candidates get black-holed, and the expertise expertise is usually painful, with lack of communication and observe up.
This drawback could be solved with AI, so we’re constructing an AI-enabled screening agent that fully automates screenings, decreases the fee per rent, ensures constant analysis standards, and supplies a well timed, customized expertise expertise. With clever, dynamic dialog circulate, our screening agent makes use of AI to generate questions based mostly on the job, ask follow-up questions based mostly on candidates’ responses, reply candidates’ questions, and extra, all with totally customizable messages.
And at this time’s expertise is prepared for extra AI within the hiring course of. Our GRID 2024 Expertise Tendencies survey revealed that 79% of candidates are blissful to work with AI for the screening course of if it doesn’t imply sacrificing personalization. Total, 81% are blissful to work with AI recruiting brokers if it hastens the method and 63% of these working with AI now already say it has resulted in quicker responses from recruiters.
Let’s go ahead collectively!
We’re empowering our prospects to unlock a brand new stage of automation and leverage AI throughout the whole workflow, and we’re orchestrating new capabilities throughout our highly effective, end-to-end platform. No person is constructing the breadth and depth of AI companies and capabilities throughout the entire workflow like Bullhorn is.
In the end, we’ll empower recruitment corporations to enhance each productiveness and high quality, and obtain better scale by unlocking the ability of AI via automation. We need to uplevel all recruiters to carry out just like the finest recruiters, and we are able to’t wait to go ahead on this AI journey along with you.
