At Bullhorn, we speak to recruiters and staffing corporations day-after-day, and we’re listening to the identical issues again and again. Recruitment corporations are coping with margin stress whereas additionally attempting to distinguish themselves competitively. These should not straightforward instances for anybody, and the day-to-day of recruiting is simply tougher.
The excellent news is that the majority corporations are literally bullish on their outlook for the long run, with almost two-thirds predicting a income enhance. Why?
One main purpose is the current explosion of AI know-how. AI has matured to some extent the place it really can ship important worth and assist recruiters in methods it couldn’t earlier than. For this reason we see corporations seeking to AI as a solution to clear up a number of the enterprise challenges they’re dealing with. And we, at Bullhorn, agree — AI is extra accessible, extra highly effective, and extra relevant to recruiting use instances than ever earlier than.
Our method is easy, however important. Bullhorn is reimagining recruitment with AI infused all over the place. We’re taking a tough have a look at the place and the way recruiters spend their time to determine duties and actions which might be well-suited to enhancements from AI, and we’re growing AI capabilities and options to particularly goal these components of the recruitment life cycle.
How Bullhorn’s AI will influence the recruitment lifecycle
Right now’s recruitment course of continues to be largely guide, with recruiters spending their time promoting to purchasers, sourcing and screening candidates, and submitting their high candidates — all whereas checking off numerous administrative duties and staying on high of their to-do lists.
Handbook processes like looking for the best candidate, drafting and sending introductory messages, and growing pre-screening questions depart little time for the core individuals side of recruiting – constructing relationships. AI, when utilized accurately, empowers a brand new manner of recruiting by permitting recruiters to expedite guide processes and focus their effort and time on direct interactions.
The brand new manner offers recruiters the flexibility to widen the funnel to seize extra candidates and very, in a short time slim it again right down to solely the easiest ones. As an alternative of spending their time and vitality attempting to discover the candidates who’re one of the best match, they’ll 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 associate who can leverage the fitting information to ship the outcomes you and your customers expect. Bullhorn is the biggest recruitment-specific AI supplier and we practice 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 embrace:
- 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 important as a result of with out them, you possibly can 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 growing quite a few AI capabilities and AI brokers focused at particular varieties of duties and actions throughout the recruitment life cycle. Listed below are just a few examples of what we’re engaged on for you immediately – with much more to come back!
Generative AI: We’ll be increasing GenAI all over the 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 data and replace fields routinely. For instance, think about pulling out desired wage or location data so as to add to the candidate document. And tagging information too – think about tagging notes with themes like compensation discussions after which with the ability to filter on these themes. It’s a large shift from how we use – or barely use – unstructured information immediately.
Search & Match: Search is a basic part 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 completely 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, routinely constructing searches, utilizing machine studying fashions educated on the S.E.A. of knowledge to rank candidates and supply suggestions, brokers that routinely supply within the background, and multi-board searches – all built-in right into a single expertise.
Screening: Our prospects immediately spend a couple of quarter of their time qualifying candidates. Handbook screening is time consuming, it’s costly, and you must practice recruiters to do it proper (and lots of nonetheless don’t). There’s a large 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 downside might 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 gives a well timed, customized expertise expertise. With clever, dynamic dialog circulation, our screening agent makes use of AI to generate questions primarily based on the job, ask follow-up questions primarily based on candidates’ responses, reply candidates’ questions, and extra, all with totally customizable messages.
And immediately’s expertise is prepared for extra AI within the hiring course of. Our GRID 2024 Expertise Traits survey revealed that 79% of candidates are glad to work with AI for the screening course of if it doesn’t imply sacrificing personalization. General, 81% are glad to work with AI recruiting brokers if it accelerates 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 complete workflow, and we’re orchestrating new capabilities throughout our highly effective, end-to-end platform. No one is constructing the breadth and depth of AI providers 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 larger 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 will’t wait to go ahead on this AI journey along with you.
