The resume is a relic. And the time spent in typical interviewing of candidates is highly inefficient. So how does one improve the equation for both the employer and the potential employee to make it more efficient and fair?
At VB Summit 2018, Darren Nix, group manager at Indeed, says AI and machine learning are already helping increase recruiter efficiency by as much as four times. As a result, its approach has helped both candidates and recruiters focus more time on making the human connections count so the hires are a much better fit.
Ultimately, Indeed’s vision is to strip down the whole hiring process to its core foundation and then rebuild it from the ground up using AI and automation. “We view the ultimate solution as trying to create a perfect one-to-one match,” said Nix. “Right now we’re at more like a 50:1 match, or a 20:1 match where candidates are having to apply to lots of jobs in order to find that perfect match.”
“The way that we measure our success is how much faster and more efficient can we make that process for the job seeker,” Nix said. The hope is to get the recruitment done by which the applicant only has to apply to five jobs to find the perfect job fit.
Nix says it’s all about being able to add a lot more robust and provable data about the employer as well as the job seeker. By doing so, the employer can actually feed a much better data set into the algorithm to get a smart answer.
Looking ahead, emerging technologies are a big part of the radical transformation of how folks are hired. But the full realization of those changes could be potentially scary to hiring candidates. Instead of providing a big bang solution to the market, which would potentially only attract a small number of early adopters, Nix said Indeed aims to improve the process of recruitment and hiring with each new release.