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AI revamps recruitment processes

Smart insights, intuitive filters are some of the new tools in hiring

Published: Wed 31 Jul 2024, 3:01 PM

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Sekhar Garisa, CEO, foundit, a talent platform

Sekhar Garisa, CEO, foundit, a talent platform

Traditionally, resumes were the linchpin of hiring, lacking a comprehensive understanding of candidates' backgrounds, skills, and aspirations, which made informed decisions challenging. However, AI has revamped the game.

“foundit is transforming how companies approach recruitment, simplifying processes and aiding decision-making,” Sekhar Garisa, CEO of foundit, said in an interview.

foundit with its comprehensive database and personalized recruiter search has introduced smart insights with intuitive filters, providing comprehensive results that offer a deeper understanding of each candidate.

Excerpts:

With AI becoming increasingly prevalent in HR tech, how do you foresee its impact on transforming recruitment processes globally, and what benefits does it bring to both UAE employers and candidates?

The recruitment landscape is evolving rapidly. With the rise of emerging technologies, AI-driven talent platforms have made hiring processes more efficient. There's a growing emphasis on skill-based hiring, especially in tech and digital domains, to meet the demands of a changing market. Some of the advantages the integration of AI in the recruitment process brings to organisations are-

Efficiency: AI can automate time-consuming and repetitive tasks, by significantly reducing the time-to-fill job vacancies and frees up HR professionals to focus on strategic aspects of recruitment.

Cost Savings: By automating tasks and reducing the need for manual intervention, AI can lower recruitment costs. It minimizes the need for external recruiting agencies and helps organisations make more cost-effective hiring decisions.

Improved Candidate Matching: AI algorithms can analyze candidate data and job requirements to identify the best-fit candidates. This results in higher-quality hires who are a better match for the organisation's needs.

Enhanced Candidate Experience: Chatbots and AI-driven tools can provide candidates with immediate responses to their inquiries, improving their overall experience. Personalised interactions and quicker feedback contribute to a positive candidate perception of the organisation.

Data-Driven Decision-Making: AI generates valuable insights from large datasets, allowing HR professionals to make data-driven decisions. They can identify trends in recruitment, assess the effectiveness of sourcing channels, and refine hiring strategies. AI-driven recruitment tools can help reduce unconscious biases in the hiring process. They evaluate candidates based on objective criteria rather than subjective judgments, promoting diversity and inclusion.

Scalability: AI recruitment tools can handle a high volume of applicants without a proportional increase in HR staff. This scalability is particularly valuable for organisations experiencing rapid growth or fluctuations in hiring needs.

Competitive Advantage: Organisations that effectively leverage AI in recruitment gain a competitive advantage in attracting and retaining top talent. Candidates are more likely to be drawn to organisations that use cutting-edge technology in their hiring processes.

How does foundit’s AI-powered search enhance traditional recruitment methods, and what specific features set it apart in the current market?

At foundit, our approach to revolutionising recruitment is built on four key pillars:

Access to Both Active and Passive Candidate Pools: Recognising that 70% of candidates are typically passive, foundit enables comprehensive access to 27.3Mn+ profiles in the Middle east region. Further, these profiles are enhanced with additional information and smart insights. The platform also has an AI driven updation engine that keeps the profiles continuously updated.

Precision-Based AI-Powered Search: Our AI-powered search delivers personalized results tailored to specific organizations. A standout feature is our AI-powered 'Magic Search,' which delivers the most relevant candidate profiles through contextual search, keyword identification, and user behavior insights. This results in unmatched precision in search results. Additionally, we offer 35+ smart insights & filters to accelerate recruiter search to identify the best-fit candidates.

AI-Generated Email Drafts and Automated Outreach which significantly enhances employer branding, consistency in quality of communication, streamlines engagement through optimised scheduling further enhancing efficiency and effectiveness.

Seamless Collaboration is about conserving time and resources for a more refined candidate selection process. We enable mass personalisation of communications and provide access to a broader pool of talent than ever before.

Our AI-driven tools not only evaluate candidate skills and cultural alignment but also provide valuable insights to recruiters, enhancing the quality of hires and delivering a next-gen recruitment experience.

Could you elaborate on foundit’s strategic goals for expansion in the Middle East and APAC regions following the launch of your AI-powered search? What opportunities and challenges do you anticipate in these markets?

We are committed to meeting the specific needs of different markets, including the UAE. With the rise of digital-first businesses in the UAE, there is a clear demand for an efficient, next-gen solution like foundit. Our primary objective is to enhance the efficiency and effectiveness of recruitment processes further driving innovation in talent acquisition

There is a significant rise in demand for tech and digital skills in both the Middle East and APAC regions. Our AI-powered search can efficiently match candidates with these in-demand roles, helping businesses find the talent they need to grow. Also, many countries in these regions are diversifying their economies, which creates a variety of new job opportunities. foundit can play a pivotal role in connecting job seekers with these emerging roles. Moreover, the Middle East and APAC regions are increasingly adopting AI and automation technologies. Our AI-powered search aligns perfectly with this trend, offering businesses cutting-edge tools to enhance their recruitment processes and make data-driven decisions.

Each country in the Middle East and APAC regions has its own cultural nuances and business practices, making it crucial to tailor our solutions to meet these specific needs. Therefore, following our successful launch in India and Southeast Asia, we have now expanded into the Middle East to bring our AI-powered recruitment solutions to this diverse and dynamic market.

In what ways does foundit’s AI-driven approach address current challenges in hiring, such as candidate sourcing, assessment, and retention? How do you envision these technologies evolving over the next few years?

At foundit, we empower recruiters to build relationships with passive candidates—those who may not be actively job hunting but possess valuable skills and experience. Our Personalised Recruiter Search customizes candidate profile rankings to match your unique preferences. By analyzing historical hiring data, our platform tailors the candidate pool to align precisely with the required specifics. This approach not only saves time but also ensures a ready pool of qualified candidates for future positions.

Furthermore, our AI-powered platforms like Skillyst can administer assessments and tests to evaluate skills, providing objective and accurate measurements of candidate abilities, thereby reducing the hiring time by almost 50% to find the right fit.

At foundit, our solutions are designed with the mission to connect the right talent with the right opportunity thus tackling the retention challenge early on by ensuring a better fit. Additionally, personalised communications and engagement through targeted outreach help HR teams to develop effective retention strategies, fostering a more satisfying and enduring employment experience. l

Over the next few years, these technologies will evolve to include more advanced assessment tools and predictive analytics, AI will leverage more sophisticated deep learning models to gain deeper insights into candidate potential and employee performance, leading to better hiring and retention decisions. While real-time data analytics will enable HR teams to make instant, informed decisions, improving responsiveness and strategic planning. Additionally, AI will become increasingly adept at personalising every aspect of the hiring process, from job recommendations to candidate communications, creating a highly tailored experience for each individual further improving candidate sourcing, assessment, and retention.

With the emphasis on passive candidates and cultural fit in hiring, how does foundit’s platform empower recruiters to identify and engage with these elusive but potentially valuable candidates?

Traditional recruitment often focuses on the active talent pool, which is about 30% of available candidates. foundit’s platform offers access to passive candidates - those who might be open to new opportunities, even if they are not actively job hunting. Additionally, foundit has designed Super Profiles which provide candidate information beyond what’s available on the CV thus enabling better screening and targeted communication, making outreach more relevant and engaging. Additionally, data-driven insights can be used to craft a personalised messages that resonate with the candidate’s background, interest and career goals. Additionally, our AI-enabled platform, Skillyst assesses candidates' cultural fit through behavioral and psychometric analysis, ensuring alignment with the company’s values and work environment.

In what ways does foundit’s AI technology contribute to improving diversity and inclusion within the hiring process? Are there specific features or methodologies that promote unbiased candidate selection?

At foundit , we conduct Virtual Career Fairs for diverse pool of candidates giving employers and seekers a comprehensive solution to ensuring diversity in hiring.

Additionally, at present, foundit’s AI/ML powered discovery streamlines the search by identifying female candidates including other smart filters and insights. While broader DEI initiatives are still developing, we are committed to evolving our platform to support unbiased candidate selection and fostering a diverse and inclusive workforce. Future updates will likely include methodologies to promote a more inclusive hiring process.

By integrating these features, foundit aims to lead in reimagining recruitment processes globally, meeting the specific needs of diverse markets, and continually innovating to improve the hiring experience for both employers and candidates.

Looking ahead, what trends do you foresee in tech-first talent acquisition tools, and how is foundit positioned to lead in this evolving landscape? Are there upcoming innovations or developments on the horizon for your platform?

The future of talent acquisition is all about smarter, faster, and more inclusive hiring. Trends like advanced data validation, multichannel outreach, and predictive analytics are reshaping the industry. foundit is continuously enhancing its AI capabilities to offer even more precise candidate recommendations based on advanced analytics. We are committed to innovation and recruiters can expect AI-assisted communication, new engagement channels, and robust predictive tools to help recruiters make better decisions. foundit is leading the charge, reimagining how businesses hire and setting new standards for efficiency and personalisation.



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