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Project on Artificial Intelligence in to Recruitment Proces

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Gautam Raval

The project is all about research how artificial Intelligence will help the recruitment industry in hiring the right candidate at right place. It is all about adding value to the organisation in a effective way

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TO DEVISE AND IMPLEMENT STRATEGIES, TO CREATE AWARENESS AND SALES FOR ABHAY TECHSOLUTION Presented By: Gautam V Raval
INDEX 2 Sr. No. Contents Page No. 1 Industry Analysis 3-4 2 Competitor Analysis 5-6 3 Company Profile 7 4 Objective of Survey 8 5 Research Methodology 9-14 6 Analysis 15-24 7 Findings 25-26 8 Suggestions 27-28 9 Learnings 29-30
INDUSTRY ANALYSIS 3
Recruitment refers to the process of finding new employees for an organization. HR departments often take on this role, but companies may outsource these functions to a staffing firms, or recruiting agency in order to locate and hire qualified candidates The global recruitment process outsourcing market is forecasted to grow at a compound annual growth rate (CAGR) of 17.66% from 2017 to 2021 In The Recruitment Industry in India is growing at 21% per year and is approximately worth Rs. 35,000 crores. Many countries and major corporates will be investing in India in mere future which an article was also published in ET INDUSTRY ANALYSIS 4
COMPETITOR ANALYSIS 5
COMPETITOR ANALYSIS Over all into the similar space of the product there are 24 competitors across the globe. But the Major competitor is IBM Kenexa Employee Assessments, who is providing the similar features at a starting price of Rs; 20,540/- The collaboration of the organisation is with the huge and major corporates in the market. Add a Footer 6
COMPANY PROFILE Establishment on: 8th Auguest,2017 It is dealing into IT/Software Industry Abhay Techsolution, also known as ATS; is a synonym for Affordable technology Solutions. Its USP is to provide the software solutions for complex business problems that too at a very affordable price. Their Major focus is automating the HR Practices with integration of Artificial Intelligence. 7 PRODUCTS ARE: Products NextJob Meet KPI E3 HR App Payrolite
OBJECTIVE OF STUDY 8 To create the awareness for the product and a sales pipe line through the pre sales activity. Created the unique way to conduct the survey How to hold the customers attention through product launch To study the trends in market for recruitment software industry To study the consumer behaviour
RESEARCH METHODOLOGY 9
Convenience SAMPLING We targeted the sample population who were involved in the recruitment process, they may be the HR executives, Decision Makers, IT Professionals, owners etc. DATA COLLECTION METHOD: The mode of collection of the data was primary research, the research that was performed was based on the set of Questionnaires, Interactive conversation and Idea of creative video survey. The collection of the data helped to identify the Prospect customers for the product which also created the healthy pipeline for the product which may achieve the maximum sales post the product launch 10
11
OPINIONS TO USE THE PRODUCT 12
While undergoing the survey they were also the opinions of the people, who denied giving the survey and expressed their views, Some of them are highlighted below: It is not useful even if candidate is willingly to be trained and be part of organisation. Run time challenges are not handled so effectively. It is basically a key word matcher no verification is done. It wont add value in a country like India as its too diverse in nature and incurs additional cost. We will not be able to connect the blue-collar employees. Data Base was questioned. Resume Parse was questioned why 70% only why not 80 to 85% accuracy is given. Data secrecy, as we were a start-up. OPINIONS TO USE THE PRODUCT 13
At same time some of the executives managers have also said that we need to work on the demo to purchase the product Sample size: Survey was conducted for 89 organizations out of 182, and rest 96 had an opinion of theirs regarding AI into recruitment which is noted further OPINIONS TO USE THE PRODUCT 14
ANALYSIS 15
16 Summary Of Analysis: The product may perform in the market or no was a question. Understanding present situation as still the product is the Pre-Launch phase and our core responsibility was to create the awareness with a concept and the idea of AI into recruitment, but most of the meets were demanded for the Demo of the product as everyone wanted a solution to their problem. Based on the primary research and the present phase of the product to do the future analysis the Z test states. For Z Test (Hypothesis Statement): H0: The product may work, as the concept is new and may add value to the organisation. H1: No, the product and new concept may not work and might not add value. While performing the test certain parameters, like the USP of the product were considered, HR involvement in Interview scheduling, challenges faced by the recruiter, urgent hiring with quality candidate and majorly the cost that they would incur. By doing the test, the results have appeared to accept the Alternative Hypothesis and reject the Null Hypothesis.
17 Interpretation to the results: As mentioned the overall sample size is 182 out of 86 have agreed and given the survey and are warm leads to the product post launch but 96 have expressed their opinions, for not to use the product. Its a very thin line to make the appropriate decision, as most of them have asked, is the DEMO of the product, Free Trials, to know whether it may really add value or no. If 86 have agreed and post product launch if product dose well then it wont take more efforts to convince the rest 96 to prove their opinions wrong. Rest 86 who have given the survey they facing the following challenges which the portal NextJob Can be the solution.
HOW OFTEN DO YOU HIRE: As per the above data 37 to 26% are in the cycle to recruitment very aggressively where its an additional responsibility to the HR including all the HR activities of the organization, whereas it is the additional pressure and also incurs the cost too. Where one can identify the requirement of the organization and pitch accordingly as our main aspect was pricing, where least that is 16% category organization would also afford for the product considering 8.33% of CTC paying to third party. 18 37% 26% 15% 22% Sum of Data Daily Once a Month Once in a blue moon Once in six months Daily Once A Month Once a blue Moon Once in Six Months
HOW OFTEN DO YOU TRAVEL FOR SOURCING A CANDIDATE Usually Travelling is the major concern in recruitment process for Interviewing the candidates, whereas the expected output is least assured to overcome the risk and cost incurred. Analysing figures NextJob as Portal can help saving the time, cost and efforts of the HR and candidates by using Online/Offline Video Interview Feature. Usually Consultancies make candidates travel. 19 28 22 20 16 0.33 0.25 0.24 0.18 0 5 10 15 20 25 30 Sum of Percentage Sum of Data
WHO SCHEDULES AND COORDINATES INTERVIEW FOR YOU: As per the data most of the companies are hiring through the third-party recruitment agency and using ATS to ease the process but these are the cost parameters for the organization, due to increasing challenges and run time requirements. To overcome this challenge and eliminate most of the Human Intervention, where Rob the USP of the product becomes a mediator and communicates most of the needed information to the given situation and can be used for multi-purpose including ATS 20 ATS 14% Recruiter 26% Self 21% Third Party 39% Sum of Data ATS Recruiter Self Third Party
CHOOSE THE CHALLENGES THAT YOU FACE IN HIRING TALENT: Note: Respondent could choose multiple number of challenges Here to this particular question where Recruiters have chosen multiple, challenges what they are facing, most of the recruiters are facing the challenge of Quality of CV and the Cost of hiring, where NextJob is a portal where the recruiters can easily overcome the challenge. 21 55 69 54 72 28 42 69 78 52 56 0 20 40 60 80 100 Candidate expectation matching Candidate turn-up ratio Coordination hassles? Cost of Hiring Employer Brand positioning Managing Job responses/ Application tracking No Show? Quality of CVs Quality of recruiters Response Time/ TAT Total Total
MORE AMOUNTS OF TIME & COST IS SPENT ON DEVELOPING ANALYTICS AND GENERATING REPORTS NOWADAYS: Usually interpreting the work done for an audit or any reviews is a very difficult task, as we need to refer the backdated work and invest lots of time and efforts continuing with day to day activity, after analysing there is still a question of authenticity which hinders the mind. To avoid such complexation NextJob as a portal gives day to day updates on the very first page of login named as dashboard. This also saves cost of using any other tools to do analysis 22 22 15 12 34 3 0 5 10 15 20 25 30 35 40 Agree Disagree Neutral Strongly Agree Strongly disagree Total Total
IS URGENT HIRINGS WITH QUALITY CANDIDATE: One of the major challenges is urgent hirings of Quality candidate and the cost that is incurred in hiring, usually urgent hirings are fulfilled by 3rd party agencies where there is least assurance of candidate with good knowledge and his ability to perform too. To overcome this challenge NextJob is portal where lots of JD matched profiles can be looked upon in an annual subscription of it at a fingertip 24*7 23 10 32 9 12 23 0 5 10 15 20 25 30 35 Agree Disagree Neutral Strongly Agree Strongly disagree Total Total
WHAT IS THE AVERAGE COST THAT YOU SPEND ON HIRING A CANDIDATE: Nowadays cost cutting is the major responsibility of every working Individual, hiring at minimum cost is what every recruiter looks for. Either it is 3rd party agencies, portals, or any data base it for a limited period of time or any tools for that matter are costlier, But Nextjob as portal has unlimited usage in a years subscription. Here we can win from rest of our competitors as our prices too affordable. 24 28 42 18 0 5 10 15 20 25 30 35 40 45 15000-20000 25000+ 8000-12000 Total Total
FINDINGS 25
FINDINGS The price of the product is inexpensive compared to the rest 24 competitors. The features which are provided by the competitors are comparatively less that in the portal of next job. All features are provided on the payment of P.A, the case with the competitors is not so. The customers are interested to buy the product, as most of the decision makers and HO are located in Mumbai. The concept of AI will be booming in mere future. Add a Footer 26
SUGGESTIONS 27
They have to have a proper organizational structure Should notify the updates, changes formally through the medium if E-Mails Weekly Review meeting needs to be conducted, to know the product development Stage. Should more focus on the Technical errors and try to fix the solutions with the permeant solutions To capture more no. of customers and keep the after sales service up to the mark they have increase the bandwidth size of their products server Have to create more visibility of their product and organization through the medium of social media and other platforms. SUGGESTIONS 28
LEARNINGS 29
How to manage and plan the meetings, timings and targets to complete it in a single day Understood the techniques of Data Mining Building real time Strategies Understood the Practical implication of the SPANCO Model Convincing technique at various levels LEARNINGS 30
THANK YOU Add a Footer 31

More Related Content

Project on Artificial Intelligence in to Recruitment Proces

  • 1. TO DEVISE AND IMPLEMENT STRATEGIES, TO CREATE AWARENESS AND SALES FOR ABHAY TECHSOLUTION Presented By: Gautam V Raval
  • 2. INDEX 2 Sr. No. Contents Page No. 1 Industry Analysis 3-4 2 Competitor Analysis 5-6 3 Company Profile 7 4 Objective of Survey 8 5 Research Methodology 9-14 6 Analysis 15-24 7 Findings 25-26 8 Suggestions 27-28 9 Learnings 29-30
  • 4. Recruitment refers to the process of finding new employees for an organization. HR departments often take on this role, but companies may outsource these functions to a staffing firms, or recruiting agency in order to locate and hire qualified candidates The global recruitment process outsourcing market is forecasted to grow at a compound annual growth rate (CAGR) of 17.66% from 2017 to 2021 In The Recruitment Industry in India is growing at 21% per year and is approximately worth Rs. 35,000 crores. Many countries and major corporates will be investing in India in mere future which an article was also published in ET INDUSTRY ANALYSIS 4
  • 6. COMPETITOR ANALYSIS Over all into the similar space of the product there are 24 competitors across the globe. But the Major competitor is IBM Kenexa Employee Assessments, who is providing the similar features at a starting price of Rs; 20,540/- The collaboration of the organisation is with the huge and major corporates in the market. Add a Footer 6
  • 7. COMPANY PROFILE Establishment on: 8th Auguest,2017 It is dealing into IT/Software Industry Abhay Techsolution, also known as ATS; is a synonym for Affordable technology Solutions. Its USP is to provide the software solutions for complex business problems that too at a very affordable price. Their Major focus is automating the HR Practices with integration of Artificial Intelligence. 7 PRODUCTS ARE: Products NextJob Meet KPI E3 HR App Payrolite
  • 8. OBJECTIVE OF STUDY 8 To create the awareness for the product and a sales pipe line through the pre sales activity. Created the unique way to conduct the survey How to hold the customers attention through product launch To study the trends in market for recruitment software industry To study the consumer behaviour
  • 10. Convenience SAMPLING We targeted the sample population who were involved in the recruitment process, they may be the HR executives, Decision Makers, IT Professionals, owners etc. DATA COLLECTION METHOD: The mode of collection of the data was primary research, the research that was performed was based on the set of Questionnaires, Interactive conversation and Idea of creative video survey. The collection of the data helped to identify the Prospect customers for the product which also created the healthy pipeline for the product which may achieve the maximum sales post the product launch 10
  • 11. 11
  • 12. OPINIONS TO USE THE PRODUCT 12
  • 13. While undergoing the survey they were also the opinions of the people, who denied giving the survey and expressed their views, Some of them are highlighted below: It is not useful even if candidate is willingly to be trained and be part of organisation. Run time challenges are not handled so effectively. It is basically a key word matcher no verification is done. It wont add value in a country like India as its too diverse in nature and incurs additional cost. We will not be able to connect the blue-collar employees. Data Base was questioned. Resume Parse was questioned why 70% only why not 80 to 85% accuracy is given. Data secrecy, as we were a start-up. OPINIONS TO USE THE PRODUCT 13
  • 14. At same time some of the executives managers have also said that we need to work on the demo to purchase the product Sample size: Survey was conducted for 89 organizations out of 182, and rest 96 had an opinion of theirs regarding AI into recruitment which is noted further OPINIONS TO USE THE PRODUCT 14
  • 16. 16 Summary Of Analysis: The product may perform in the market or no was a question. Understanding present situation as still the product is the Pre-Launch phase and our core responsibility was to create the awareness with a concept and the idea of AI into recruitment, but most of the meets were demanded for the Demo of the product as everyone wanted a solution to their problem. Based on the primary research and the present phase of the product to do the future analysis the Z test states. For Z Test (Hypothesis Statement): H0: The product may work, as the concept is new and may add value to the organisation. H1: No, the product and new concept may not work and might not add value. While performing the test certain parameters, like the USP of the product were considered, HR involvement in Interview scheduling, challenges faced by the recruiter, urgent hiring with quality candidate and majorly the cost that they would incur. By doing the test, the results have appeared to accept the Alternative Hypothesis and reject the Null Hypothesis.
  • 17. 17 Interpretation to the results: As mentioned the overall sample size is 182 out of 86 have agreed and given the survey and are warm leads to the product post launch but 96 have expressed their opinions, for not to use the product. Its a very thin line to make the appropriate decision, as most of them have asked, is the DEMO of the product, Free Trials, to know whether it may really add value or no. If 86 have agreed and post product launch if product dose well then it wont take more efforts to convince the rest 96 to prove their opinions wrong. Rest 86 who have given the survey they facing the following challenges which the portal NextJob Can be the solution.
  • 18. HOW OFTEN DO YOU HIRE: As per the above data 37 to 26% are in the cycle to recruitment very aggressively where its an additional responsibility to the HR including all the HR activities of the organization, whereas it is the additional pressure and also incurs the cost too. Where one can identify the requirement of the organization and pitch accordingly as our main aspect was pricing, where least that is 16% category organization would also afford for the product considering 8.33% of CTC paying to third party. 18 37% 26% 15% 22% Sum of Data Daily Once a Month Once in a blue moon Once in six months Daily Once A Month Once a blue Moon Once in Six Months
  • 19. HOW OFTEN DO YOU TRAVEL FOR SOURCING A CANDIDATE Usually Travelling is the major concern in recruitment process for Interviewing the candidates, whereas the expected output is least assured to overcome the risk and cost incurred. Analysing figures NextJob as Portal can help saving the time, cost and efforts of the HR and candidates by using Online/Offline Video Interview Feature. Usually Consultancies make candidates travel. 19 28 22 20 16 0.33 0.25 0.24 0.18 0 5 10 15 20 25 30 Sum of Percentage Sum of Data
  • 20. WHO SCHEDULES AND COORDINATES INTERVIEW FOR YOU: As per the data most of the companies are hiring through the third-party recruitment agency and using ATS to ease the process but these are the cost parameters for the organization, due to increasing challenges and run time requirements. To overcome this challenge and eliminate most of the Human Intervention, where Rob the USP of the product becomes a mediator and communicates most of the needed information to the given situation and can be used for multi-purpose including ATS 20 ATS 14% Recruiter 26% Self 21% Third Party 39% Sum of Data ATS Recruiter Self Third Party
  • 21. CHOOSE THE CHALLENGES THAT YOU FACE IN HIRING TALENT: Note: Respondent could choose multiple number of challenges Here to this particular question where Recruiters have chosen multiple, challenges what they are facing, most of the recruiters are facing the challenge of Quality of CV and the Cost of hiring, where NextJob is a portal where the recruiters can easily overcome the challenge. 21 55 69 54 72 28 42 69 78 52 56 0 20 40 60 80 100 Candidate expectation matching Candidate turn-up ratio Coordination hassles? Cost of Hiring Employer Brand positioning Managing Job responses/ Application tracking No Show? Quality of CVs Quality of recruiters Response Time/ TAT Total Total
  • 22. MORE AMOUNTS OF TIME & COST IS SPENT ON DEVELOPING ANALYTICS AND GENERATING REPORTS NOWADAYS: Usually interpreting the work done for an audit or any reviews is a very difficult task, as we need to refer the backdated work and invest lots of time and efforts continuing with day to day activity, after analysing there is still a question of authenticity which hinders the mind. To avoid such complexation NextJob as a portal gives day to day updates on the very first page of login named as dashboard. This also saves cost of using any other tools to do analysis 22 22 15 12 34 3 0 5 10 15 20 25 30 35 40 Agree Disagree Neutral Strongly Agree Strongly disagree Total Total
  • 23. IS URGENT HIRINGS WITH QUALITY CANDIDATE: One of the major challenges is urgent hirings of Quality candidate and the cost that is incurred in hiring, usually urgent hirings are fulfilled by 3rd party agencies where there is least assurance of candidate with good knowledge and his ability to perform too. To overcome this challenge NextJob is portal where lots of JD matched profiles can be looked upon in an annual subscription of it at a fingertip 24*7 23 10 32 9 12 23 0 5 10 15 20 25 30 35 Agree Disagree Neutral Strongly Agree Strongly disagree Total Total
  • 24. WHAT IS THE AVERAGE COST THAT YOU SPEND ON HIRING A CANDIDATE: Nowadays cost cutting is the major responsibility of every working Individual, hiring at minimum cost is what every recruiter looks for. Either it is 3rd party agencies, portals, or any data base it for a limited period of time or any tools for that matter are costlier, But Nextjob as portal has unlimited usage in a years subscription. Here we can win from rest of our competitors as our prices too affordable. 24 28 42 18 0 5 10 15 20 25 30 35 40 45 15000-20000 25000+ 8000-12000 Total Total
  • 26. FINDINGS The price of the product is inexpensive compared to the rest 24 competitors. The features which are provided by the competitors are comparatively less that in the portal of next job. All features are provided on the payment of P.A, the case with the competitors is not so. The customers are interested to buy the product, as most of the decision makers and HO are located in Mumbai. The concept of AI will be booming in mere future. Add a Footer 26
  • 28. They have to have a proper organizational structure Should notify the updates, changes formally through the medium if E-Mails Weekly Review meeting needs to be conducted, to know the product development Stage. Should more focus on the Technical errors and try to fix the solutions with the permeant solutions To capture more no. of customers and keep the after sales service up to the mark they have increase the bandwidth size of their products server Have to create more visibility of their product and organization through the medium of social media and other platforms. SUGGESTIONS 28
  • 30. How to manage and plan the meetings, timings and targets to complete it in a single day Understood the techniques of Data Mining Building real time Strategies Understood the Practical implication of the SPANCO Model Convincing technique at various levels LEARNINGS 30
  • 31. THANK YOU Add a Footer 31