As ChatGPT continues on its disruptive path across sectors, generative AI has now entered the HR or human resources domain with the potential of taking over at least the first two rounds of the hiring process.
Still in its beta phase and termed a generative AI-based recruitment co-pilot, HYRGPT (HYR for hire combined with GPT) is developed by Bengaluru-based candidate and employee engagement platform Personifwy, which claims to reduce hiring time by 30- 70 percent.
The software ditches traditional hiring methods where recruiters typically scan each CV manually, using basic keywords and then reaching out to shortlisted candidates to conduct initial interviews using fixed standard questions. If the candidate passes the initial HR round, the recruiter schedules the next round with the hiring manager for a technical interview.
On its part, HYRGPT uses advanced natural language processing (NLP) and machine learning (ML) algorithms to comprehensively analyse resumes, identifying the most relevant candidates based on skills, work experience and job relevance. It then conducts automated interviews with the shortlisted candidates, eliminating the need for recruiters to ask fixed standard questions.
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In addition, CEO Debi Kar said, the software is capable of asking and assessing technical or functional questions across domains without the need for a specialist hiring manager. This ensures that candidates are thoroughly evaluated on their technical abilities and fit for the role.
In a nutshell, the same bot can in parallel conduct hundreds of screening yet it will not be a one-size-fits-all approach. Currently, these processes usually come under the ambit of ‘talent acquisition executives’ and allied roles that may be eliminated if the software is adopted widely.
“Officially rolled out on June 30, six companies are already running the software in the pilot mode. We have tested it on 1 million roles so far that has taken three months,” Neha Mathur, chief business officer of Personifwy, told Moneycontrol. Any role in existence for the past five to seven years can be assessed by the software.
However, chief operating officer Sameer Dharap highlighted that while HYRGPT offers valuable insights, he added that it has to be kept in mind that it is only a tool to support decision-making, and human judgement is still essential. “The information provided by the software can be used as a reference to conduct further evaluations and interviews to validate candidate suitability for unique needs,” he said.
Though the founders expect 30-50 percent reduction in cost per hire, to be sure, HYRGPT in its present capability can only be used at the top of the hiring funnel for “better and faster” filtration. The software’s capability is currently not in the mid-funnel where candidates meet the hiring manager or bottom of the funnel when candidates are finally hired.
Adoption
As per founders, sectors like IT, ITeS, BFSI and healthcare, among other industries that are hiring in bulk, are ideal industries to start. Currently, the software has three broad users: recruitment process outsourcing (RPO) and staffing firms, Indian multinationals and individual recruiters.
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A talent acquisition executive working in a Mumbai-based consultancy firm with over 30,000 employees feels this may be a revolution but doubts any impact on his job. For instance, he said most of the candidates he hired are lateral and through referrals where the first two steps and even three steps are not taken into the process.
“The software enables the hiring manager to have a technical round done even before they meet the candidate and help them present an evaluated CV. This does not affect any recruiter's job because they anyways are currently not doing a tech evaluation,” said Anup Menon, vice president of IT staffing at staffing firm CIEL HR.
However, he said making this technology relevant to all roles could be challenging, as AI may not have sufficient information on emerging job roles to effectively screen candidates.
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