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Talent Acquisition

How Building Data-Driven Recruiting Tools Accelerates B2B Talent Acquisition

June 15, 2022

5 minutes

There’s no doubt that artificial intelligence speeds up tasks that would otherwise take days, if not months, to complete in the business world. HR teams are turning to AI tools to help them find and hire the best candidates.

“About 100 years ago, electricity transformed every major industry. AI has advanced to the point where it has the power to transform every major sector in the coming years.”

- Andrew Ng, founder of the Google Brain Deep Learning Project

Here's a closer look at how data-driven AI tools are supercharging B2B recruitment.

1.   Leverage Automation

Screening resumes and applications is among the most time-consuming aspects of recruiting. AI tools help automate screening by identifying the best candidates based on predetermined criteria, but to do this, they need models trained on large amounts of professional data. 

HR teams use AI to collect missing information, answer questions, send email sequences, conduct interviews, and even create highlights of interviews. 

Here are some commercial products that can accelerate a B2B talent acquisition process right now:

  • Ideal claims that by using AI, time to fill is reduced by 70%. Using ideal’s AI screening tool saves time, and ensures that only the best candidates make it to the next stage of the hiring process.

  • Adaface offers AI-powered skill assessments and personality tests based on specific criteria required for your business.

  • Humanly’s chatbot claims it saves teams up to 60 hours - that’s powerful AI. AI chatbots are becoming increasingly popular among HR professionals. Chatbots can ask questions, collect missing information from candidates, conduct interviews, ask questions, and assess a candidate's responses in real time. 

2. Develop Recruiting Insights

To improve the quality of their hires, HR teams need to have a deep understanding of their existing recruiting process. AI-powered tools help provide this insight by tracking every step of the process and identifying areas of inefficiency or friction that can be improved to ensure better candidates, shorten time-to-fill, and deliver more successful hires.

With the amount of data to sift through these days, it's easy to let KPIs slip through the cracks and make wrong decisions. AI tools powered by B2B data can streamline this process, and ensure total fidelity to KPI’s through automation. 

Some of the most important Talent Acquisition metrics to report on are time to fill, referrals per employee, sourcing channel cost, offer acceptance rate, and employer brand awareness. Building tools to track these metrics will underpin a more successful  talent acquisition strategy

3. Improve Employee Retention

After implementing great data-driven tools to identify rockstar candidates, most B2B people operations teams turn their focus to retention and new hire success. About 20% of employees leave within their first 45 days of employment.

HR tools integrated with AI powered by professional data can assess a new hire's performance, and identify areas where they may need additional support. This allows operations teams to create tailored onboarding plans that will help new hires acclimate to their role, and increase the likelihood of a successful long-term placement.

According to Hireology, an employer would need to spend 16-20% of that employee's salary on replacing an employee. The total cost of turnover per employee typically ranges from 100%-300% of their salary.

B2B HR teams armed with data-driven tools are able to hire the best candidates more efficiently, simultaneously saving time and identifying higher quality candidates, both of which ultimately lead to improved retention. 

Accelerate End-To-End Talent Operations

Data-driven tools that leverage AI and advanced HR analytics take much of the guesswork out of every stage of the talent process, from candidate sourcing and recruitment through on-boarding and retention. Building tools to facilitate any stage of this process will yield significant benefits to any organization. 

The effectiveness of these tools is only as good as the data available to power them, so partnering with reliable data vendors like People Data Labs is critical to the long-term success of any recruiting tool. 

We provide talent acquisition and candidate enrichment solutions to help organizations of all sizes supercharge their HR processes.

Ready to get started? Reach out to our team today for a free consultation.

PDL
PDL Team

Founded in 2015 by Henry Nevue and Sean Thorne, People Data Labs helps thousands of engineering, data science, product, and other technical teams to build compliant, innovative, people data based software solutions. Our sole focus is on building the best data available by integrating thousands of compliantly-sourced datasets into a single, developer-friendly source of truth.

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