"We're seeing is that pay rates are increasing at a slightly faster rate for candidates than we are bill rates for our clients. I think we're going to continue to see smart companies keeping up with those increases in order to win talent, and those who don't won't fare as well. What we try to help our clients understand is that you have to pay the going rates or you're going to risk losing out on these skills," he says.
Domo arigato, Mr. Recruiter
Though AI and bots can significantly improve the practice of recruiting and make recruiters and hiring managers' lives easier, there's no need to worry that they'll eliminate the need for a human touch anytime soon, says Srinivasan.
"I don't think recruiting is dead, by any means; I think it's more important than it's ever been. Yes, proactive sourcing has reached its zenith at this point, and AI and bots can help automate search and some general screening responsibilities. So, I do think there are areas where technology can shine in optimizing and accelerating the process, but recruiting is still enough of an art and an emotional, personal, human pursuit, that it's not going away," she says.
Srinivasan says that savvy recruiters can harness the power of AI and bots to streamline much of the administrative, tedious aspects of their job to free up time for developing relationships and forming better bonds with candidates and clients.
"The good news is that this will lead to better performance from recruiters. Their time will free up so that they can really get to know the intricacies of clients and candidates and focus on the human side of recruiting," Srinivasan says.
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