CEIPAL, a SaaS platform for the front and back-office business operations of staffing companies, recently conducted research on the state of the recruiting industry at CEIPAL Connect, a quarterly symposium for recruiting industry professionals.
CEIPAL surveyed 90% of event attendees, including decision makers at global staffing companies with annual revenues ranging from $20 million to $100 million USD. Respondents discussed the uses of artificial intelligence (AI), ways to source better candidates, and the importance of improving the candidate experience.
The majority of attendees at the event believe that AI is transforming—and will continue to transform—the staffing industry. An AI-enabled Applicant Tracking System (ATS) will automatically match and rank candidates; calculate technical and cultural fit; predict the chance of candidate acceptance and estimate expected tenure; and instantly "clone" ideal candidates by sourcing dozens more with near-identical profiles. The result, say industry experts, is a significantly shortened search process and a greatly improved candidate placement rate.
Survey respondents also highlighted additional benefits of AI in recruitment:
In summarizing the research findings, Sameer Penakalapati, Founder and CEO of CEIPAL, said, "Artificial Intelligence offers a tremendous opportunity to improve the recruiting process. Judging by its rapid advancement in other industries, I am convinced AI will transform the recruiting industry and become the norm faster than anyone expects. Staffing companies must embrace AI today in order to remain relevant and competitive."
The company is compiling full research results and expects to make a final report available on its website soon.
Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.