From Business Because
Traditionally, recruiting is an on-campus, very structured, time-intensive, and expensive process. Students and employers learn about each other through a series of organized activities like mixers, presentations, coffee chats, treks, interview prep sessions, invite-only dinners, and interviews.
While the largest, most prominent companies continue to host a full schedule of events at their preferred schools, new approaches are emerging.
Employers seek to cut the cost and time required to hire, while increasing the predictability of a new hire’s success. Students have less time and more employment options. Given the rising demand for talent, they expect a more personalized approach and put greater emphasis on cultural fit.
Enter Artificial Intelligence (AI) and predictive analytics. Together, they automate much of the process of sourcing and engaging qualified, interested candidates. It’s a hot field—the number of VC-backed startups focused on the hiring process and employment has increased six-fold in 10 years, with more than 100 companies entering the space in each of the past three years.
How does it work? 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. For example, Mya uses natural language technology to ask candidates questions based on job requirements, and answers questions about employer policies, benefits, culture and application status.
Read the full post at Business Because.
Jean Ann Schulte is the director of Employer Relations and Recruiting Services at MIT Sloan School of Management.