In today’s extremely tight labor market, time-to-hire matters. If you are too slow, you risk losing candidates who accepting another offer from another faster company. And the longer you wait, the lower the quality will be, as top candidates go elsewhere. Customers and employees will also feel the negative impacts of slow hiring if you are understaffed and struggling to meet demand.
New industry research stated that early experiments with artificial intelligence in talent acquisition have led to broader deployments, providing enhanced automation for TA operations.
That’s a fancy way of saying that recruiting teams using AI are seeing the value and beginning to use it even more. They might have started with a chatbot on their careers site or virtual assistant to help schedule interviews. Now, they’re implementing AI-powered sourcing or assessment processes.
High-volume hiring is a critical area of talent acquisition that is too often misunderstood. Companies face unique pressures when it comes to this segment of recruiting that require different strategies and solutions. According to Aptitude Research, 65% of companies have high-volume recruitment needs today. And as hiring ramps up and organizations look to scale, this percentage will likely increase.
If you wander down the exhibit hallways of HR conferences, it’s pretty clear who the big dogs are. Whatever your metric – booth size, staffing or technology – it’s HR vendors that hold mighty sway at the shows. They help companies engage, develop, and pay their employees, so their products and price tags are large and getting larger. After all, what could be more important than tools that keep workers productively at work? Well, here’s thought – how about talent acquisition technology?
As if keeping the talent pipeline healthy wasn’t already enough of a challenge for talent acquisition leaders, doing it during a pandemic has made TA a moving target.
Disrupted, transformed, uprooted. Use whatever buzzword you want, but there’s no denying hiring has come a long way over the last 18 months. Traditional methods were cast aside under pandemic conditions, making way for next-generation solutions – like asynchronous video interviewing – to take hold.
Every organization is going through some type of talent acquisition transformation today, and many are heading into this shift under-resourced. Indeed, 40% of companies have downsized their recruiting teams in 2020. And so the theme of doing more with less is acutely apparent today.
CHROs facing a constant—and growing—challenge, are coming out of the pandemic with new focus and ways to address both old and emerging issues.
Digitization, employee feedback, hiring and organizational charts are among the issues receiving greater emphasis and resources as their executive team and workforce look to hit their strides.
Employers are buying a ton of recruiting technology to help them deal with the multiple challenges they face in today’s talent market. They’re investing in everything from new applicant tracking systems and CRM platforms to AI enabled interviewing solutions and programmatic ad buying. It’s hard enough to get that right – to find the right product and provider – but then you’ve got to get the stuff to work in the hands of recruiters. But, what does that mean exactly? How do you define the successful implementation of a recruiting technology product? And no less important, how do you actually achieve it?
There’s a lot of talk in the talent acquisition space about hiring faster and hiring better. Words like efficient and effective get tossed around repeatedly without much explanation of what, where, when, why, or how. PandoLogic has been envisioning the answers to these questions for some time, which is one reason the programmatic job advertising platform recently acquired AI recruiting provider Wade & Wendy. Together, the two companies are poised to revolutionize the faster and better narrative, said PandoLogic CEO Terry Baker in a recent conversation.