AI is a force that will remain in the game for very long. This technology has become a vital part of various organizations to solve their complex processes.
Furthermore, companies are receiving exceptional results when they implement AI in their day-to-day activities. Now, there is a new requirement arising, where companies are leveraging AI powers to explore the intricate web of global labor laws and ethical standards.
The HR department is adopting AI to fill the company's vacancies. First of all, ATS has been completely modified to track the applications. ProtocolX24 has become popular in the recruitment industry as it helps with the hiring of freshers, lateral hires, leadership positions, and placements for both global and Indian markets, be it tech or non-tech roles.
As per the survey, 68.1% of respondents are in favour of using AI powers in the recruitment processes to streamline their hiring and bring fresh talent in the company.
Additionally, 88% of organizations are implementing AI in their workforce to hire the best talent since the covid-19.
These numbers are painting a picture that states that AI is resolving the recruitment challenges, which is a positive sign for the industry.
Talent can be found anywhere in the world, and regulations shouldn't stop it from hiring that person. Therefore, companies are hiring beyond borders with 100% regulations. These consist of labor laws, tax codes, and cultural norms.
Furthermore, AI systems are providing feedback based on employee performance. They can convey real-time feedback, and identify underperformance issues early. Due to this, companies can take the path of the proactive approach and they can remain compliant with local labor laws and performance standards.
However, there is an issue with the AI in recruitment. Last year, in the USA, state legislatures introduced 400+ AI-related bills. As a matter of fact, this has been a sixfold increase from the previous year.
Additionally, sixteen states have already enacted legislation related to AI. This enactment has developed a complex patchwork of regulations that businesses should focus on to move forward.
Undoubtedly, AI has entered the recruitment ecosystem and is reducing human biases. However, here is the main catch: it has its limitations.
As a matter of fact, AI can work on only that data on which it is trained; when a new scenario is provided without any training, it leads to poor results or is unable to answer.
Additionally, the final decision should be taken by a human when AI provides results to have complete fairness and inclusivity in hiring practices.
A survey was conducted which revealed that 49% of candidates believe AI could help address bias and unfair treatment in hiring.
The same survey stated that 66% of hiring leaders have a more positive attitude towards AI in the workplace compared to the previous year.
Industry leaders acknowledge the transformative power of AI in recruitment. Marc Benioff, chair, CEO, and co-founder of Salesforce, stated, "Artificial intelligence and generative AI may be the most important technology of any lifetime."
Vivienne MingOpens, a new window, executive chair, and co-founder of Socos Labs, said, “I think the future of global competition is, unambiguously, about creative talent, and I’m far from the only person who sees this as the main competition point going forward. Everyone will have access to amazing AI.
Your vendor on that will not be a huge differentiator. Your creative talent though — that will be who you are. Instead of chasing that race to the bottom on labor costs, invest in turning your talent into a team of explorers who can solve amazing problems using AI as the tool that takes the busy work out. That is the company that wins in the end.”
Artificial intelligence will evolve more and with it the recruitment industry will take a road towards positive impact. Now, regular audits of AI systems, ongoing training for HR professionals, and a commitment to transparency can be performed, which will reduce the burden of companies.
In conclusion, every company should get to know the significant advantages in managing the complexities of global recruitment so that they can extract the maximum benefits.