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Enhancing Candidate Communication and Prehire Assessments (Artificial Intelligence for Talent Acquisition case study)
January 21, 2020 | Article
A Singapore-based multinational financial services corporation was planning to hire 40 percent more wealth planning managers to support its growing wealth management business. On average, recruiters at the company spent up to 20 percent of their time collecting information and communicating with applicants before interviewing short-listed candidates. With both staffing needs and work complexity increasing, the firm realized it was time to implement new technology.
Application of AI for TA
To be more effective and efficient in hiring wealth planning managers, the company’s TA team and a Singapore-based start-up collaborated to develop the first virtual recruiter for banks in Southeast Asia. The virtual recruiter can review résumés, post prescreening questions, collect responses, and conduct psychometric profiling assessments (using assisted intelligence). With the virtual recruiter, TA professionals no longer have to spend many hours screening applicants. Leveraging an algorithm-based scoring system that assesses candidates’ psychometric test results and background information such as education, work experience, and skills, the tool provides a short list of candidates for each role for talent advisers’ consideration during the initial screening stage (using augmented intelligence). Through the chatbot feature, candidates also benefit from a more streamlined process, faster responses, and real-time inte
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