AI Solution for Talent Pool Insights

Summary:

With AI talent intelligence platform, the company’s talent team has been able to consolidate their tech stack, reduce spend, and improve recruiter productivity.

Client: 

RingCentral, Inc. is a U.S.-based company that offers cloud-based communication and collaboration solutions. With more than 500,000 customers worldwide, it is a major player in the cloud communications space.

Problem Statement:
RingCentral’s recruiters previously had to search across multiple channels to find the right candidates, resulting in a slow and time-consuming hiring process. This approach often led to missed opportunities and made it challenging to adjust strategies based on successful outcomes. In addition to these process inefficiencies, RingCentral’s talent team faced the pressure of meeting ambitious hiring goals while ensuring a diverse and inclusive candidate pool.

Results:

•  40% increase in the candidate pipeline.
• 22% improvement in the quality of candidates in the pipeline.
• 40% rise in interest from under-represented groups (URGs).
• Enabled the creation of targeted outreach campaigns based on key attributes, allowing recruiters to automatically send personalized outreach to matched candidates within minutes, maximizing response rates.

AI Solution Overview:

RingCentral partnered with Findem’s talent search solution, which continuously updates 1.6 trillion data points from hundreds of thousands of sources, leveraging machine learning (ML) and AI to offer detailed insights into talent trends. This solution integrates external data with RingCentral’s internal systems, such as applicant tracking systems (ATS), using AI to automate candidate matching, outreach, and other recruiting workflows across all channels.

With Findem’s CRM and ATS rediscovery features, RingCentral can maintain and nurture relationships with potential candidates until the right position becomes available. This allows faster conversion of candidates who have already applied or engaged with the talent team, leading to more motivated hires.

Findem’s advanced talent data cloud enables RingCentral to find the right candidates through attribute-based searches. Recruiters can quickly build searches for any role, applying the same criteria across inbound applicants, internal candidates, past applicants, and referrals via Findem’s integration with Workday. Search attributes like “startup experience,” “worked at a company during IPO,” and “successfully scaled a department” help RingCentral create highly targeted and diverse talent pools.

These attributes not only assist in candidate discovery but, when paired with AI, provide insights into what might motivate a candidate to consider a new opportunity. Recruiters can also create targeted outreach campaigns using key attributes, automatically sending personalized messages to matched candidates within minutes to maximize response rates.

References: 

1. RingCentral relies on Findem to build a high caliber, diverse global workforce. https://www.findem.ai/customer-stories/ringcentral?utm_source=vktr.com
2.  5 AI Case Studies in HR. https://www.vktr.com/ai-disruption/5-ai-case-studies-in-hr/

Industry: Human Resources

Vendor: Findem

Client: RingCentral, Inc.

Publication Date: 2024

Key Words: AI talent intelligence platform, talent search solution, candidates, recruiters, hiring process.