According to a study, ‘It Industry Q3 Insights & FY2022 Forecasts’ by UnearthInsight, Indian IT giants are expected to hire 360,000 freshers in the fiscal year 2022.
Companies like TCS and Infosys hired a record number of 1.85 lakh freshers in the year that ended on March 31, 2022. This surge in hiring spree has been attributed to the rise in digital transformation and the successive demand for digital talent. The headcount for TCS increased by 35209 in the fourth quarter to 592,195 – the highest additional ever in a quarter. Over the fiscal, the company has hired almost 1 lakh employees and expects to hire 40,000 freshers more through campus recruitment in 2023.
With the need to recruit rapidly, the Indian information technology industry is facing a massive HR challenge – the constant pressure of hiring in bulk.
However, the good news is that technology can solve most of these hiring challenges. Let’s understand the problems and some probable solutions using technology.
Conscious and unconscious hiring biases are common in recruitment when recruiters make opinions about the candidate in the first impression. Even while hiring freshers, recruiters may unconsciously get influenced by the candidate’s resume picture, name, and hometown, affecting their hiring decisions positively or negatively. IT companies hiring at a rapid speed in bulk cannot afford such biases. However, humans are not immune to implicit biases. How can one stay neutral and make the right hiring decision in such a scenario?
Ethical artificial intelligence can help solve hiring bias problems up to 80%. Ethical artificial intelligence works by masking personal information on resumes and leverages skill-based objective shortlisting with AI. For example, XOPA AI Recruiter has some intuitive features like
These technology-backed features can help remove hiring bias and speed up the hiring process.
While hiring in bulk, recruiters have to go through hundreds of resumes every day. Undoubtedly, it’s a tedious and time-consuming task for recruiters. This can significantly delay the entire hiring process.
Using modern AI-enabled platforms, recruiters can leverage the power of Robotic Process Automation (RPA) and speed up the hiring process. Such technologies can significantly eliminate the manual intervention of screening the resume and enable recruiters to focus more on interviewing the candidate.
Using such technologies, recruiters can automate various tasks such as:
One of the biggest challenges for hiring in bulk is sourcing the best-fit candidates. Recruiters need to go through various job portals to hunt for the right talent, conduct a few rounds of campus interviews, do newspaper and digital advertising, etc., to source their candidates. This is time taking. Additionally, one has to screen the resumes manually to reach the right candidate.
Using AI, recruiters can find the best fit by integrating various popular open-source, third-party providers. This enables recruiters to access millions of profiles instantly and funnel out the best-fit candidate directly into their ATS.
Problem: Manually matching potential candidates from the existing talent pool
All companies have a vast talent pool that they can tap into when they need to hire. But, going through the talent pool and pulling out the right candidate is a humongous task if done manually.
Using AI solutions, recruiters can easily tap into their talent pool and retarget them for a new role that the candidate might be best suited for. For instance, XOPO AI’s patented algorithm helps score candidates against a particular job opening so recruiters can easily identify a strong fit.
Another common problem recruiters face during the hiring process is keeping the candidate engaged so they don’t decline the recruitment offer for a better opportunity. This is especially common in the IT industry, where companies are always at a ‘war’ for talent.
Leveraging AI solutions like XOPA AI, recruiters can brand their communications and boost engagement through personalized and automated regular communication that adds a ‘delight’ factor to the candidate without spending too much time on manual intervention. The AI recruiter can also be leveraged to tap and nurture the existing talent pools and build candidate loyalty through employer branding so that when they decide to join, your company is at the top of their mind.
What is true for IT giants is true for other small and medium-size enterprises as well. The IT industry is booming, and companies are on a hiring spree. Technology can be a big game-changer in the hiring process. XOPO AI Recruiter is a SaaS platform that helps recruiters in streamlining hiring and selections, from sourcing potential candidates, screening objectively and at scale, virtual and asynchronous interviews, final selections, and onboarding.
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