Best AI Recruitment Software

Indeed, technology is evolving at a fast pace, and it is impacting the world in every possible way. We live in a rapidly progressive world where modern tech, like Artificial Intelligence, influences how numerous industries work.

AI is transforming the world massively and eliminating the manual and repetitive work humans do. In addition, AI algorithms are designed to take data-driven decisions by utilizing real-time data and information.

Hence, many industries are adopting the AI-technology to perform various tasks efficiently. In 2019, Gartner found in a survey that 37% of companies utilize AI in the workplace.

Keep on reading to find out how AI Recruitment software positively influences the hiring industry, boosts efficiency of talent acquisition teams, and also helps job seekers land the right role.

Let's first understand which AI-powered recruitment software and tools are available in the current market to effectively hire the top-quality candidates for growth and sustaining in the highly competitive market.

What Is the Role of AI in Recruitment?

AI has become essential in the recruitment industry as it speeds up time-consuming, repetitive, and manual tasks and allows recruiters to focus on more vital tasks.

AI-based programs in the hiring process save time and cost for HRs and recruiters. Following is the contribution of AI-powered features of the Recruitment Automation software in the recruitment workflow.

• Enhance the sourcing process via social media recruiting 

• Provide positive candidate experience via recruitment chatbot

• Write perfect job descriptions for Job Ads

• Screening bots eliminate the assessment task for recruiters 

• The resume parser inspect thousand of resume quickly and find suitable candidates

• Automatic interview scheduling and link send to the candidates

• Smooth onboarding and automatic document verification process

• Automated emails sent to the candidates in the recruitment pipeline

What Are the Benefits of Using AI Recruitment Software?

Automation tech has become an indispensable part of many industries. A survey done by PwC found that Artificial Intelligence will provide $15.7 trillion in international economic development by 2030. In the recruitment industry, AI offers numerous benefits. Let’s look at some of the advantages.

• A study by Ideal found that companies implementing early AI technology are seeing a 75% reduction in cost per screen.

• AI-powered Recruitment Chatbot is the biggest help for recruiters as it eliminates the prescreening round by asking questions to the candidates.

• Screening bots ask applicants questions like notice period, salary expectation, and relocation intent which are not usually mentioned in the resume.

• A company named Alorica surveyed for three months on the usage of Chatbot in the hiring process and found that the organisation saved 1200 person-hours, decreased hiring costs by 84%, and interviewed about 3,000 candidates versus a typical 966.

• AI recruitment removes unbias hiring. It means the final candidates are purely selected based on their skills, qualifications, and work experiences, and any candidates don’t get rejected over age, colour, race, or gender.

• The software enhances candidate experience and positive employer brand. 

• Most importantly, it reduces the time-to-hire and cost-to-hire.

• It increases the ratio quality of hire.

Finally, it makes the hiring process faster, which is an essential factor for both the candidates and the recruiters. 

Limitations of AI-Based Recruitment Software

Even AI can be a little biased, just like humans, sometimes. The reason is that developers have designed it, and It has been created to reduce the biases against older workers, religious groups, and minorities and increase diversity.

However, since AI learn by perceiving past patterns from past behaviours, there might be hidden biases in the company’s previous hiring that AI has picked up.

The solution could be working with a vendor who uses customisable recruitment tools to eliminate unconscious biases.

Also, Artificial Intelligence may need to understand the nuance of social media as it needs to understand the information garnered by social media platforms.

For example, if an individual posts or re-tweets an opinion on something, AI learns from that, which may affect the individual's reputation. Privacy laws can prohibit making a decision using social media data.

Top 7 AI Recruitment Software you can consider! 

Below we have shared our top picks for AI driven recruitment software. 

1. iSmartRecruit

iSmartRecruit is AI-powered hiring software that aims to provide highly scalable ATS and CRM software that automates the recruitment workflow. The automatic features enable feedback-driven hiring decisions, streamlining effective team communication, strengthening sourcing power and upscaling the hiring process. As a result, it saves the time-to-hire by 55% for recruiters and HRs. 

The AI-based recruitment software offers fruitful automation features such as a Resume Parser, Recruitment Chatbot,  AI-based candidate matching, AI-based job matching, Social media recruiting, Job description parser, Automatic job approval workflow, Job tracker, Video interviewing tool, Mobile recruiting, Job advertisement, Job analytics, etc. 

The easy-to-use features of Applicant Tracking System and Candidate/Client Relationship Management Software are specifically developed to ease the recruiting process and make it more effective for mass recruiters, corporate HRs, hiring managers, and recruiting and staffing agencies. 

Pricing

• Start-Up plan: $29 per user per month
• Professional Plan: $59 per user per month
• Enterprise plan: for large teams having over 15 users. Contact their sales team.

2. Skillate

Skillate is an AI recruiting platform that will help recruiters to improve recruitment efficiency with AI-powered features. It offers autonomous features like a Career page chatbot, Chatbot screening, Resume parser, Auto interview scheduler, and Analytics features which make hiring more accessible and more effective. Also, these features enhance the positive candidate experience and intelligent hiring. 

Pricing

• Their pricing plans are flexible and non-restrictive. Contact their support for more information. 

3. Zoho Recruit

Zoho Recruit offers automatic hiring software features that enable collaborative hiring by involving every team member and hiring manager. It allows the hiring manager to monitor the recruitment workflow and take all the crucial decisions during the hiring process. Some key features they provide are smooth onboarding, a personalised portal for effective team communication, a video interview feature, and social hiring to hire diverse candidates using social media platforms. 

These fantastic features empower the hiring teams to conduct structured hiring and keep every member engaged in the hiring process. Also, the software keeps everyone up-to-date about the status of the hiring process. 

Pricing

• Standard package: ?1,250/user/month billed annually.
• Professional package: ?2,500/user/month billed annually.
• Enterprise package: ?3,750/user/month billed annually.

4. Ceipal

Ceipal is AI talent acquisition and management software streamlining the recruitment workflow by automatically identifying interested and qualified candidates. It helps the recruiting and staffing agencies manage the whole talent acquisition lifecycle. They provide talent management solutions like Talent acquisition automation, Talent engagement and marketing, and Workforce management. 

Pricing

• CEIPAL ATS plan: $24/user/month
• CEIPAL Workforce plan: $4/user/month with 25-user minimum
• Both platforms: Contact sales

5. Manatal

Manatal is specially designed to eliminate the repetitive tasks in the hiring process and reduce the time-to-hire for the recruiters and corporate HRs.

The AI recruitment software helps you source and hire the most suitable candidates faster for HR teams and recruitment agencies, and headhunters. The easy-to-use recruitment software offers powerful features like candidate enrichment, AI recommendations, Candidate Onboarding & Employee management, Mass Emailing, candidate sourcing, compliance and job analytics features, and team collaboration.

Pricing

• Professional Plan: $15/per user per month
• Enterprise Plan: $35/per user per month
• Custom Plan: Contact sales

6. HireEZ 

HireEZ provides more innovative recruitment solutions for outbound recruiting by finding, connecting, and building a solid recruitment pipeline with an end-to-end outbound hiring platform. It is a job search platform that becomes a mediator between recruiters and the company.

The software has helped more than 5,000 recruiting teams hire faster by sourcing qualified candidates. It provides a powerful AI-powered sourcing platform to help source the right talent with its advanced keyword search and semantic technology.

Pricing

• They offer the following two plans. 
• $ 169 per month (pay monthly)
• $1,428 per year (pay yearly)

7. Paradox

Paradox offers Olivia an AI Chatbot assistant for recruitment purposes. It helps recruiting teams and hiring managers eliminate 80% of their valuable time on manual tasks. It improves candidate engagement by supporting candidates in matching jobs to each by location, resume, or keywords.

Also, it assesses the candidates by taking prescreening tests. In addition, it automatically schedules the interview and sends the link to all the candidates in the recruitment pipeline. Olivia automates sending and reminding new hires to complete onboarding steps.

Pricing

• Contact Sales for more information.

Factors That Affect the Cost of AI Recruitment Software

Let's look at some crucial factors while employing AI recruiting software. To understand the best pricing structure, we've to understand the aspects and needs of the company.

1. Type of AI Recruitment Software

   

   There are several AI solutions available in the market right now. However, AI is used in the hiring industries for three following purposes.

   • Recruitment Chatbots - Eliminate screening and increases candidate engagement
   • AI-powered analysis system - Provide feedback on recruitment workflow
   • Virtual assistance - Provide answers to the standard questions

2. The Pricing Model of AI-Recruitment Software

   The prices can vary from company to company and client to client. It depends on the number of employees, new hires, and vacant job positions. Hence, employers must consider their company’s size, needs, and goals to select the most appropriate software pricing structure.

3. Hosting Solution Type

   It is essential when purchasing recruitment software, affecting the overall price. There are two options employers have: they can choose on-premise or cloud-based software based on the requirement of the firm.

4. General Important Factors

   Employers must consider the following factors too while purchasing a subscription to the AI-hiring software.

   • Set-up and instalment charge
   • Training cost
   • Customer support fees
   • Additional features and services

KPIs for Measuring the ROI of AI Recruitment Software

AI Recruitment software ROI is an indicator that measures the values and contribution of the employee by the resources and money spent on hiring and retaining that employee.

The main Benefits of Measuring ROI on Recruitment Software are data-driven hiring decisions, increased diversity, and expanded quality of hire.

Following recruiting, KPI metrics are vital to assess the role of AI in the recruitment process and its ROI. Hiring managers must closely monitor these KPIs to measure the efficiency and effectiveness of AI recruiting tools. 

1. Application completion rate 

2. Quality of hire

3. Time to hire

4. Cost per hire