FifthEdge, Dubai-based construction and engineering talent sourcing company, has launched artificial intelligence (AI)-driven recruitment platform, aiming to change the recruitment process in the construction and engineering sectors at an industry level
With the product, FifthEdge focuses on increasing the recruitment capacity of hiring companies by up to 467 per cent and reducing cost-to-hire by 52 per cent.
Using AI technology, FifthEdge matches companies to candidates, who are either actively looking for jobs or passive candidates who would be open to changing roles if the right opportunity was presented. Rather than candidates applying for specific positions, they instead select companies they may want to work for, so should a role arise, companies have a live talent pool from which to select candidates.
Candidates submit their CVs and create a profile on the platform free of charge. The AI technology then screens and assesses their profiles against industry-specific disciplines. In the event additional information is required, candidates are contacted via chatbots.
Following an AI-driven assessment of their profiles carried out by FifthEdge?s algorithms, candidates see company updates if their skill sets match the companies? requirements. When companies they have selected have roles available, they can set search parameters based on the job requirements and FifthEdge will search the available candidates who have indicated they would want to work for them. Companies will be able to access this always up-to-date live talent list to select candidates they would like to interview.
Attaining evolution to the recruitment process
Marcus Taylor, CEO and founder of FifthEdge, explained, ?Candidates essentially hunt for jobs using the same tools, such as LinkedIn, job sites and recruitment agencies. Either way, they are essentially being added to a database that is likely not up-to-date, resulting in frustration for all parties.?
FifthEdge aims to drive efficiency and improve quality of life for candidates and those working in HR and in-house recruitment teams.
?Our research has shown a company will receive at least 500 CVs for one job advertised. As few as two per cent, at best, would meet the criteria, while nine per cent may actually be good candidates for the company but do not have experience in the right disciplines. Every month, 14 per cent of these candidates will have changed their status or contact details, which means any recruitment team, whether agency or internal, has an impossible task in keeping a database up-to-date.?
The platform automatically reaches out to active candidates every 30-45 days, passive candidates every 60-90 days and immediate candidates every 15-30 days. This allows candidates to remain connected and updated, with full visibility of which companies have expressed an interest in them and if they have matched with any active roles and feedback, Taylor explained.
