HOW AI IS TRANSFORMING THE RECRUITMENT PROCESS

With the fear of a singularity on one hand and the increasing presence of AI in so many aspects of our life, on the other, it comes as no suprise that AI could possibly determine who gets a job, when and where. This blog explores the key processes in recruitment and where AI can be substituted in these as a more efficient means to the previously time and resource consuming process of recruitment. Recruitment is one of the most crucial parts of expansion of operations. And an efficient recruitment cycle is imperative in obtaining quality and productive candidates while negatting limitations of loss of resource, time and productivity.

MERIT MATRIX

Merit Matrix, is there still any merit in it? You can build different merit matrix model, but your underlying employee indicative data remains the same. A What-if projection on compensation budget is built on, current Performance rating, current salary and market pay range. The budget alignment is computed by an iterative increase, to arrive at an approved budget. A model that is built using above information has a flaw, when forecasting, the data set used for building budget should be in the future, instead of current. With the advancement of predictive analytics and machine learning, the ability to build more accurate budget programs that aligns with your organization is what HR should be looking at. The magic 3% budget should be exposed in a way, its usage is more actual than accrual. The merit in Merit Matrix can still be retained using the traditional method of building budgets only by applying modern heuristic algorithms.

CUSTOMER SATISFACTION HAS NEW MEANING

When Pat and I started Laserbeam, our only goal was to deliver an inexpensive, yet feature rich software for our customers that pays back every penny they invested. Software products don’t have to be so expensive!.budgets only by applying modern heuristic algorithms.
We have come a long way. I always trusted from the heart; keep doing whatever you do, to the best of your ability and satisfaction, and the rewards will always follow.