Traditionally, recruiting is an on-campus, very structured, time intensive & expensive process. Students & employers learn about each other through a series of organized activities. While technology is increasingly prevalent in the MBA recruitment process, it dramatically changes the way candidates seek work & employers discover them. Students should learn the new technology for better recruitment and placements.
While the largest most prominent companies continue to host a full schedule of events at their preferred schools, new approaches are emerging.
In the networked digital era amid the proliferation of smart devices & surge of Big Data- Artificial Intelligence, Predictive Analytics or Smart Machines that can think intuitively and make intelligent sense of vast data- is the new battleground that is rolling multiple sectors, disruptive companies & stroking new rivalries. Technology dramatically changes the way candidates seek work & employers discover them.
With machines that work and react like a human, the implications are enormous. This will dramatically shake up a range of sectors from IT to Recruitments to Banking. Think of self-driven cars and robotized manufacturing.
Let’s talk about 5 ways in which recruitment industry is changing because of technology consisting Artificial Intelligence & Predictive Analytics:
- A rise of technology-based platforms that mine big data to make quick intelligent decisions, automating repetitive hiring process.
- Job boards like Monster feel the heat as they struggle to keep pace with job sector in the networked digital era.
- With the ubiquitous platforms like Facebook, LinkedIn & GitHub, Crowd Sourcing talent is becoming popular.
- Full time paid jobs are declining as the growing gigs economy, led by likes of Uber and Airbnb is drafting workers & micro entrepreneurs.
- In a rapidly changing world when skills get dated fast degrees & experience lose their edge as learnability & adaptability gains weight.
Many of the world’s top business schools are now using software that helps students improve their resumes, find and evaluate job opportunities, and prepare for competitive interviews.Students initially engage with companies through employer branding campaigns, posts on popular job boards, or through social media such as LinkedIn, Twitter, and Facebook.
The recruiting process becomes interactive and borrows a lot from marketing automation, with a focus on customer (candidate) experience. It’s about sending the right messages at the right time, based on a student’s behavioral and demographic characteristics, to cultivate positive employer brand awareness and interest in specific jobs. During the recruiting process, students may encounter new technologies
GOLDMAN SACHS, for instance, has dropped on-campus interviews and instead asks students to submit a pre-recorded video to apply for a job at the bank. Candidates are asked to speak to how their past experiences and skills are transferable to the role as well as times they have demonstrated characteristics valued at Goldman, such as network and sound management. Those who succeed in the first round interview are invited to attend a final interview.
This space has so much potential that Google has entered the fray with a programme called Cloud Jobs. Scanning millions of job openings to understand pattern and connections, it uses machine learning language to understand both the job content and intent of job seekers, resulting in better job site engagement.
FAMA, started in Los Angeles with one goal in mind- to help businesses fill gaps in information on who they hire. This technology helps employers red-flag candidates who could be misogynist or racist or violent and also spot those who may have a positive side to them like someone doing charity work. Employers have started using this software to fill the gap.
With BELONG.CO, ”We are helping companies use machine learning technology to tackle their recruitment needs. Our platform offers predictive outbound hiring solutions that help companies discover engage and hire the right talent. A talent that may not be looking out for a job but may be just the right candidate for the companies.” says Rishabh Kaul, Founder.
INTERVIEWED a San Francisco based startup had developed a series of automated screening tools such as programming test, personality assessment, language skills. Candidate can go through simulations that help employers do better assessments.
New technology in the wrong hands can also be used in a wrong way. On the one hand, machine based screening is expected to help remove human biases that often creep into the hiring process. There are concerns, the biggest being invasion of privacy.
While most tech-based platforms assure that they only track data in the public domain, boundaries may be blurring. While technology is increasingly prevalent in the recruitment process. MBA career education warns that any software will not replace the role of the dedicated career advisors. MBA student should continue having in-depth conversations with their school’s career teams.
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