How Ethical AI Is Transforming Recruitment

How Ethical AI Is Transforming Recruitment

Recruiters and talent professionals are using ethical AI to transform their approach to the recruiting process. According to recent statistics from Zippia, 65% of recruiters are already using ethical AI in their talent acquisition software to streamline their hiring process. 67% of recruiters have reported that ethical AI has significantly improved their recruitment process.

This innovative technology is transforming the way we approach recruitment by removing human biases and increasing efficiency. With ethical AI, talent professionals and recruiters can now make data-driven decisions, leading to more diverse and qualified hires. Let’s take a closer look at how ethical AI is revolutionizing recruitment and the impact it’s having on the future of work.  

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Improved Efficiency for Recruiters

One of the most immediate benefits of ethical AI in recruitment is the reduction in workloads. Instead of sorting through resumes, researching candidates, and posting to job boards, recruiters can act more strategically and pursue candidates that are suited for a position within a company.

Furthermore, ethical platforms like ThisWay can analyze candidate data, enabling more precise search and hiring processes. This reduces the chances of overlooking qualified candidates and ensures that each candidate is evaluated on their merit. With ethical AI, hiring decisions are not influenced by unconscious bias, resulting in a fair and transparent process.

Ethical AI considerably reduces instances of bias. It ensures that hiring decisions are based on quantifiable factors rather than unconscious human biases. This leads to diverse and inclusive teams, ultimately driving innovation and growth. ThisWay removes candidate demographic information, letting an employer focus solely on the skills each candidate has for the position. 

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Helping Organizations Achieve Their Diversity Goals

According to McKinsey & Company, organizations that rank high in gender diversity are 21% more likely to have above-average profitability, and those with ethnic and cultural diversity have a 33% likelihood of outperforming their peers. Ethical AI helps achieve these diversity goals. ThisWay’s platform can mitigate biases in job descriptions. For example, a recruiter can upload a job description, have bias removed, and then share that job posting with candidates within the ThisWay Global network.

Companies can harness the power of objective evaluation, thus breaking down barriers that hinder the recruitment of a diverse workforce. ThisWay enables an unbiased review of skills and experience, irrespective of a candidate’s race, gender, or age. It also aids in promoting a balanced workforce, improving employee morale, fostering creativity, and enhancing productivity. 

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Helping Recruiters and Talent Professionals To Save Time

According to LinkedIn, the hiring process can take up to six weeks, with recruiters spending a mere eight seconds on each resume, according to Indeed. With a typical stack of 200 resumes per role, this manual process is both time-consuming and error-prone.

Instead of manually sorting through hundreds of resumes, ethical AI-based platforms like ThisWay can automate the initial screening process, considerably reducing the time spent on each application. Ethical AI tools can quickly analyze large volumes of resumes, identifying key skills, qualifications, and experiences relevant to the job.

ThisWay also has applicants within its system. The “Attract” and “Discover” options allow recruiters to get access to candidates right away. “Discover” allows recruiters to browse through candidates with the ideal skills they want or to brainstorm a new job description. With “Attract,” the recruiter can upload a job description, have bias removed, and share that job posting with qualified candidates in ThisWay’s network. 

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Ethical AI Can Help a Company Reduce Turnover

High employee turnover can significantly impact a company’s bottom line. According to the Bureau of Labor Statistics, the average employee turnover rate in the U.S. was 47% in 2023, with 70% of this turnover being voluntary. This trend is costly, with Gallup reporting that replacing an employee can cost twice their average salary. Ethical AI can play a crucial role in reducing turnover rates.

Ethical AI allows companies to hire candidates who are well-suited for the position, increasing the likelihood that they will perform well and feel satisfied in their roles. By hiring based on skills and qualifications rather than subjective factors, candidates are more likely to feel that they are valued and treated fairly, reducing the likelihood of voluntary turnover.

Industries That Are Utilizing Ethical AI For Recruitment

A diverse range of industries in the United States are embracing ethical AI for recruitment. A report by the Bureau of Labor Statistics projects that the healthcare sector will grow by 14% by 2028. Many organizations in this sector are harnessing ethical AI tools to improve recruitment efficiency and ensure a diverse workforce.

Similarly, the professional, scientific, and technical services sector is projected to grow by 10.1% over the same period. This sector, known for its innovation, is utilizing ethical AI in hiring processes to foster diversity and inclusivity.

The construction industry, predicted to grow by 10.5%, is also turning to ethical AI to identify skilled candidates and overcome potential hiring biases. With such broad adoption across varying industries, the impact of ethical AI on recruitment is clear. It’s providing a transformative solution for industries faced with high growth and an urgent need to recruit talent effectively and efficiently.

Utilize ThisWay to Grow Your Workforce

By leveraging the power of ThisWay, you can make recruitment more efficient and data-driven, creating a diverse and inclusive workforce that drives your company forward. Harness the power of ethical AI to remove biases, make informed hiring decisions and drastically reduce the time spent on each application. Instead of relying on manual processes, allow ThisWay’s advanced algorithms to analyze vast volumes of resumes, highlighting key skills and qualifications relevant to the role. You can also get instant access to a vast network of candidates with the ideal skills you need. ThisWay is the future of recruitment, making the process more transparent, unbiased, and efficient.