How AI Can Supercharge Traditional Referral Programs for Diversity Hiring?
Diverse referral platforms are a great way to optimize your company’s investment towards diversity & inclusion but do they really impact your end-to-end recruiting goals? While these platforms are great when it comes to engaging the right talent on the right channels, they are still limited when it comes to gaining access to unreachable talent or offering bias-free outcomes. What’s good is that we have the right idea in place, what’s needed now is the right technology.
How Can Artificial Intelligence Help?
With an additional layer of AI, these platforms can prompt employees to look beyond their top 3-4 candidate recommendations, forcing them to look beyond their traditional network. Some of the best diverse referral platforms like TalentDome and Aevy use an algorithmic engine to drive referrals from not just close friends but also other people in the social network, email lists, alumni network, and much more.
With the help of sophisticated AI, gen-next referral platforms have not only improved their candidate matching accuracy, they are also way better than their predecessors in removing unconscious bias. These are some of the benefits of using AI-incorporated referral platforms for candidate hiring:
1) Sophisticated ML Algorithms for Candidate Matching
By using the right ML algorithms, diverse referral platforms can not only identify the best active talent but also reach top passive talent in the network’s graph. While the candidates who match the respective job requirements would be given first preference those who are not from the same industry can also be targeted with customized referral campaigns.
2) Uncover User Insights on Behavior and Channel Usage
AI-enabled platforms can target people based on the channels they spend most time on, actions they take on these channels, and the quality of their past referrals. For instance, if a user spends 80% of his time on Facebook, then 80% of the referral program’s budget would be diverted towards social media. This way the firms can reach a diverse talent pool in minimum time & budget.
3) Eliminate Recruiting Bias
One of the biggest advantages of using AI in diverse referral programs is that it eliminates recruiting bias. By assessing candidates purely on their skill-sets and by implementing blind hiring techniques, AI helps reach talent from under-represented groups, talent that might have been rejected by manual screening practices.
4) Analytics Functionality to Measure ROI:
To measure your program’s effectiveness you must be able to measure the results of your recruiting efforts minutely. For instance, you should be able to decipher which social channels are offering the best referrals, ideal time to send referral campaigns, and much more. The right tech setup can help you uncover valuable insights that can directly impact your recruiting ROI.
There is no doubt that using artificial intelligence in diverse referral platforms not only extends the talent outreach but also reduces the human dependency quotient. By implementing AI in referral programs, organizations can definitely reach a diverse talent pool which would have otherwise gone unnoticed in the traditional recruitment process.
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