As companies of all sizes face talent shortages in the new age of technology, especially in AI skills, recruiting and hiring platforms like SquaREcruit are helping build a pool of skilled professionals for the era of generative AI. I’m putting in the effort.
According to Nasscom, the pinnacle of the IT industry, India currently ranks first in the world for AI skills penetration and AI talent concentration.
However, a shortage of AI skills is now being felt in all areas. In India, demand for AI talent has grown 11% over the past six months, driven by hiring demand in sectors such as IT, retail, telecommunications, BFSI, and advertising/market research.
By the end of 2023, AI is expected to create 2.3 million jobs, among the most in-demand roles such as AI developers, data scientists and machine learning engineers.
Kedar Deshpande, founder and CEO, and Sarath Sribohasyam, co-founder and CTO of SaaS-based recruiting and talent management system developer SquaREcruit, told IANS that chatbots are part of the initial selection and scheduling process for recruiters. He said it helps with automation and reduces the workload of recruiters.
They say SquaREcruit helps clients find the right candidate 60% faster and reduces hiring costs by 32%.
Below is an excerpt from the interview.
Q: What is SquaREcruit’s mission and vision? What is your USP/how do you differentiate yourself from other companies?
Deshpande: SquaREcruit’s mission is to open up a world of easy recruitment management anywhere. Inefficiencies and broken hiring models have made it so difficult for candidates and employers to meet.
SquaREcruit’s vision is to provide a solution that enables job seekers to find jobs faster and recruiting teams to find the best candidates faster.
SquaREcruit is an intelligent platform that automates everything from interview scheduling to candidate follow-up.
Connected architecture and all-in-one automation make SquaREcruit stand out from other players. An intelligent, connected architecture allows customers to connect with vendors, end-her clients and candidates on her one unified platform, enabling seamless communication throughout the recruitment process.
Q: Can you share some customer success stories? How have you added value to them in terms of reduced recruitment costs, candidate engagement, faster time to hire, etc.?
Deshpande: SquaREcruit is domain agnostic, with over 150 companies currently using SquaREcruit’s range of products across different geographies.
One of our early adopters is a leader in retail digital transformation and part of a large US constituency. The introduction of SquaREcruit has automated the entire recruitment process. Connecting all parties within the recruitment process, procurement channels such as recruitment partners, employee referrals, and career pages made the entire procurement seamless.
SquaREcruit’s connected architecture seamlessly connects more than 50 recruiting partners to their clients, enabling end-to-end communication and status updates, saving vast amounts of time previously spent manually.
One of SquaREcruit’s recent developments is a partnership with a leading microfinance organization with over 6,000 employees in India. SquaREcruit helped digitize the entire recruitment process, including QR code-based application receipts, evaluation workflows, built-in video interviews, home verification, location coordinate capture, and pre-employment training to onboarding.
SquaREcruit also integrates with various other platforms such as WhatsApp and background check companies to provide a seamless hiring experience for our clients.
SquaREcruit helps clients find the right candidate 60% faster and reduces hiring costs by 32%. Realize all these benefits with an all-in-one intelligent recruitment platform.
Q: What emerging technologies are you most excited about in terms of impacting the talent acquisition/hire landscape? How will AI impact this space?
Sribohasyam: Chatbots help recruiters automate the initial screening and scheduling process. It also provides candidates with real-time updates on application status and answers frequently asked questions, improving the candidate experience and reducing the workload of recruiters.
Predictive analytics help recruiters make data-driven decisions throughout the hiring process. By analyzing historical hiring data, recruiters can improve their sourcing strategies and reduce hiring costs.
Artificial intelligence and machine learning (AI/ML) techniques greatly improve the predictability of which candidates are most likely to succeed in a particular role.
AI/ML-powered video interview insights help assess a candidate’s cultural fit and soft skills.
Augmented Reality (AR) and Virtual Reality (VR) help recruiters enhance the candidate onboarding experience, allowing candidates to take a virtual tour of the workplace, perform mock tasks, and interact with teams. You will be able to interact with members. This technology helps candidates gain a deeper understanding of company culture and work environments and make more informed decisions.
Q: What has cloud technology and AWS improved?
Sribohasyam: Cloud technology has allowed us to completely focus on designing and developing our product architecture without worrying about infrastructure nuances. AWS has all the latest cutting edge technology at your fingertips for your product engineering team.
Q: What benefits have you seen running on AWS in terms of business outcomes?
Sribohasyam: AWS enables us to build infrastructure at the speed required for changing product requirements. This has been very helpful in reducing time to market. Some of our core technologies, such as Amazon Relational Database Service (RDS), helped us manage our uptime promises to our customers.
