With AI technology at the core and humans at the helm, scaleXT is here to deliver precision hiring intelligence.
Recruitment is on the cusp of becoming a hi-tech industry in a similar way to what we have seen in other areas like sales and marketing automation with the new Salesforce.com AI product Einstein and other well know major global tech companies such as Amazon, Google and Uber. Closer to home in New Zealand and Australia we are beginning to see technology, banking, telco, energy, airline, commercial space, medical companies – and leading professional services firms tapping into the power of AI.
The word Artificial Intelligence is typically used to describe intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans.
For the purposes of this document we will be referring to AI being at the core with human overlay being at the helm.
Where AI is used to do the manual heavy-lifting work automating the tedious work so that the business owner, technology leader or recruiter can focus more on the higher value activities.
There are many advantages to tapping into AI Recruiting including these five reasons:
- Precision matching – Through leveraging AI, Machine Learning, and Deep Learning the chances of precision matching with quality candidates are greatly enhanced.
- Faster – By using technology to search rather than manual human labour you are able to recruit in days, rather than weeks or months.
- Reduced Cost – When you have the ability to hire faster and with less effort and pain you significantly drive cost per hire down. Not only is the cost of acquiring a new person lower but the cost of late placement on important projects is reduced.
- More data sources – AI allows you to search across 15x more data sources (both structured and unstructured) than the traditional recruitment process so you gain a further unfair advantage.
- Human overlay is the secret weapon – The secret weapon to deliver the knockout punch is skilled human overlay on top of this matching engine which increases the precision matching further still. The importance of this human overlay is critical and allows us to use our AI recruiting systems much as a driver uses GPS in a car: not to substitute for our navigation abilities but to supplement and elevate them to the next level.
Tapping into AI Recruiting should make your life easier – but there are a few tips you may wish to take away.
A lot of business owners, technology leaders and recruiters are currently using a mix of the likes of traditional candidate sources such as job boards, social platform messaging, or recruitment agencies.
Typically with these approaches there is still a high degree of manual work, time and effort required.
From our research what hiring managers and recruiters really want is precision matched Interested CV’s to your INBOX™ or ATS within days, rather than weeks or months.
How they get there is not often the issue – it is the high-quality outcome hiring their ideal candidate with the least possible pain for a reasonable cost that they are most interested in.
There are some key things you need to consider when introducing AI to your current recruitment process;
- The quality job data is important – Garbage in garbage out. Whilst minimal information is needed with AI Recruiting the quality of the job data is critical. Don’t worry there is a framework with humans at the helm to guide you with this, but the quality of data relating to the individual and your company variables is really important.
- The right roles – There are certain role types that will work better than others such as technology or highly technical ones. If you could do a job board post and get hundreds of responses and get a reasonably good quality of applicant’s then it is probably best you do this.
- The right level – The right level is important as well, so it is probably best not to rely on this approach alone for your ‘CEO’ level role (although if executive search taps into AI Recruiting this then becomes possible). Generally mid to senior technology or technical roles work best.
- Increasing your mix of proactive sourcing – You may be working on 30 roles per month but only actively sourcing for 5 to 8 of these. When you start tapping into AI Recruiting it is likely that you will now be able to start proactively sourcing into 20 roles a month so it is important to prepare for this and how you are going to leverage this additional volume you will now be able to push.
- Think about how you are going to transition to more higher value activities – As you will now be getting technology to do a lot more of the heavy lifting you will need to think about how you are going to transition to more higher value activities such as candidate experience, onboarding, building ongoing recruitment pipelines. Don’t worry too much about this as hopefully this will make your work more empowered, productive and rewarding.
There are three main options you will probably want to consider before you get started;
- Do it yourself – Do you do it yourself the traditional old fashioned way which still requires a high degree of manual labour intensive work. The standard cost per hire of this approach is usually a minimum of $5952 (+ opportunity cost i.e. daily revenue per employee X average days positions unfilled = total revenue cost per unfilled job) with an average time to hire of 63 days.
- Recruitment Agency – Do you outsource this to a recruitment agency where the average cost per hire for a $100,000 role is $16,000 (+ opportunity cost i.e. daily revenue per employee X average days positions unfilled = total revenue cost per unfilled job) with an average time to hire of 31 days.
- AI Recruiting – Or you may want to consider tapping into AI Recruiting where 12.5x as many high-quality candidates at close to half the cost of using a recruitment agency with an average time-to-hire of 18 days.
Now you have a clearer understanding of the edge you are able to now get from AI recruiting and have reflected back on your defined need you are now in a position to develop a plan to stay in traditional recruitment mode by doing it yourself or with your recruitment agency professional or now tapping into AI and becoming more hi-tech.
We’d like your NEXT STEP to be with scaleXT so you can explore how they can help you get what you want, quickly and effectively.
How does scaleXT work?
With scaleXT you can now tap into the best of both worlds. AI powered precision matching intelligence at the core with humans at the helm.
Why should I care?
Now you can tap into AI to do a lot of the heavy lifting sourcing work so you can focus on more higher ROI activities like candidate experience, screening and on-boarding. Recruitment is on the cusp of becoming hi-tech industry in a similar way to what we have seen in other areas like sales and marketing automation with the new Salesforce.com AI product Einstein.
How fast is scaleXT?
Typically you will get a high-quality Candidate Data MAP™ within 24 Hours and Interested CV’s to your INBOX™ or ATS within days, rather than weeks or months.
What type of roles work best?
The roles that make the biggest impact are: Technology i.e. CIOs, CTOs, CISOs, developers, architects, product, design, data science, data analytics, BI, programme management, project management, amongst others.
What powers your AI?
We use a proprietary AI powered algorithm called Enigma – which has processed millions of real world job scenarios – that it is able to replicate the way that the human brain works to improve decision making at a scale previously not possible. This uses Natural Language Processing (NLP) versus traditional Key Word search. First words from data for each unique candidate are mapped relative to each other. Then data for each unique candidate is sorted in space with data from other unique candidates. The platform then uses feedback to distinguish matching candidates and non matches. From here our dedicated team of humans at the helm at scaleXT take it from there to increase the precision matching even further still!
How do you get Interested CV’s to your INBOX™ or ATS within days, rather than weeks or months?
Once the matching engine identifies precise matches our AI and predictive analytics tools automate personalised interactions with the right candidate through the right channel at the right time.
What channels does scaleXT use to interact with candidates?
scaleXT interacts with candidates through 3 channels (i.e. Platform/Email/Mobile) and will use the channel(s) in which candidates are most likely to be engaged on – as well as using data science to allow right sequence of interactions and right follow-up prompts occur at the right time.
Are humans involved?
Yes this is critical. We have a high touch Customer Success Manager overseeing each recruitment process so there is a blend of AI at the core with humans at the helm. AI allows us to automate a huge amount of the heavy lifting part of the sourcing recruitment process so that you can put more human touch into the areas that really matter!
What is the price?
You have 3 pricing options across our one-off, job pack or monthly subscription models where you will be able to structure the right plan for you and achieve major cost savings compared to your standard recruitment agency spend.
Is there a guarantee for your Candidate Data MAP™ and Interested CV’s to your INBOX™?
Yes. If you are not fully satisfied there is a full 100% money back guarantee.
If I join scaleXT, what kind of time commitment am I looking at?
We recommend that you only come to scaleXT for urgent critical hires that need to be done at high speed. You will still need to time box appropriate slots of time to move the candidates quickly through the recruitment process.
How do I join the scaleXT Launch programme?
Typically joining is by invitation only or through a referral from one of our members. Our next intake for our Launch programme will be in October 2020. Once you have applied to be accepted on the Launch programme and are accepted you will be able to activate job requirements immediately.