Machines are 25% more efficient than humans in hiring right talent: TeamLease

New Delhi: Hiring based on machine learning is 20-25% more efficient than manual hiring, a survey by recruitment and staffing company TeamLease showed. The report'The New Landscape of Hiring', shared exclusively with Mint, says the time, cost and attrition rates in machine-based hiring are lower than in manual hiring. Machine learning-based hiring is a process in which recruiters can use algorithms powered by machine learning to hire candidates. "With machine hiring, one could estimate attrition (early/premature as well as long-term) likelihoods and therefore choose candidate types that are associated with lower likelihoods. This is a rare (or not a) possibility in case of manual hiring unless data is manually captured and analysed," said Rituparna Chakraborty, co-founder and executive vice-president, TeamLease.