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The Power of AI in Talent Acquisition

Our research shows that 63% of companies are investing or planning to invest in AI solutions in 2022 (up from 42% in 2020). AI has changed the way work gets done, and the labor shortage, recruiter turnover, and remote work have further accelerated the demand for AI in talent acquisition. 

The talent acquisition benefits of AI extend beyond just efficiency and process improvements. When used correctly, AI impacts quality of hire, diversity, equity, and inclusion (DEI) efforts, and overall candidate and recruiter experiences. AI can also bring humanity to talent acquisition and offer a support system for companies looking for smarter ways to attract, recruit, and hire talent. 

But, AI is still misunderstood and TA buyers are unclear about how to navigate the changing landscape. Based on data collected in early 2022, this report will explore the following:

  • The current state of AI in talent acquisition 
  • The challenges and misconceptions with AI in TA
  • Insights on the impact of AI and importance of ethics
  • Recommendations for companies at any stage of their AI journey

Data-Driven Hiring: Improving Quality and Reducing Bias

Hiring is one of the most critical – and most neglected – areas of talent acquisition. Over the past few years, companies have invested significantly in recruitment marketing, sourcing, and ATS solutions to attract talent, but often ignore what needs to happen after a candidate applies for a position. As a result, 57% don’t have the data they need to make the right hiring decisions, and one in four companies will not reach their hiring goals.

Yet companies are still facing intense pressure to fill positions in a short period of time. There is light at the end of the tunnel – our research shows that one in three companies plan to increase their investment in hiring technology (interview, screening, and assessment). They recognize that they need a consistent process and quality data to gain deeper insights on candidates and make smarter, confident, and bias-free talent decisions. 

This report is meant to aid in that process and explores the following:

  • The current state of hiring, including top challenges, key priorities and technology 
  • How talent measurement fits into the future of hiring
  • Ways to define a talent measurement framework and streamline solutions
  • Keys to understanding candidate insights to make better hires
Categories
Uncategorized

Talent Acquisition Technology and the Modern Recruiter

In talent acquisition, the pace of change has accelerated. Companies are facing new pressures, new priorities, and new challenges when attracting and recruiting talent. With a significant labor shortage and The Great Resignation, talent acquisition is more complex than it has ever been. But, as companies rush to transform with new technology, many have lost sight of the people doing the actual work – their recruiters.

The increased focus and investment in talent acquisition must include the recruiter. It’s critical that companies carefully consider strategies and technologies that will directly impact their recruiting teams, yet they are too often overlooked in the decision making process. Fifty-eight percent (58%) of recruiters do not believe that leadership understands their role in the organization. As a result, recruiters are feeling overworked and one in three are exploring new opportunities. 

The report will explore the following:

  • The disconnect between how leadership, IT, and recruiters view talent acquisition and the value of technology
  • How companies can better understand the role of the recruiter 
  • How companies can implement solutions that will drive success and improve the recruiter experience
Categories
Contingent Workforce Management Employee Experience Recruitment Marketing Talent Acquisition Strategies Talent Acquisition Technology Talent Analytics Workforce

Technology: A Year in Review

TA Technology: A Year in Review

The pandemic, hybrid work, and “The Great Resignation” has forced talent acquisition leaders to rethink their strategies and embrace change to prepare for the future of work. Remote recruiting models were implemented and companies had to engage with candidates in new ways. Every organization has undergone some type of transformation, and talent acquisition leaders are uniquely positioned to help influence this change. If 2020 was the year for reevaluating talent acquisition, then 2021 was the year for rebuilding it.

As companies look ahead, speed has become the new currency for the future of work. Talent acquisition success is measured by its ability to adjust to change. And talent acquisition leaders face pressure to adopt the latest technology innovations quickly. According to Aptitude Research, 62% of companies invested in new technology this year, but only half measured the ROI of their investments.

Companies are in the process of replacing their ATS, evaluating CRM solutions, and investing in everything from sourcing to onboarding. This report is a summary of our 2021 research into TA technology, including:

  • AI-Matching
  • ATS Market
  • Contingent Workforce Management
  • Conversational AI
  • Exceptional Experiences
  • High-Volume Recruitment
  • Programmatic Job Advertising

AI Matching: The Future of Sourcing

AI Matching: The Future of Sourcing

The interest and investment in AI matching has skyrocketed since 2020 — our research has found that 40% of enterprises are using AI matching capabilities to support talent acquisition and sourcing efforts, and another 37% are evaluating their options.

When done right, AI matching improves the candidate experience, reduces bias in hiring, and improves the quality of applicants. However, in a rush to speed up hiring, many companies often neglect critical aspects of AI matching, including quality and ethics.

If AI matching is the future of sourcing and talent acquisition, companies must take a critical look at the providers they are evaluating, the algorithms they have in place, and the impact on fair and equitable hiring practices. This report will help answer the following questions:

  • What is driving the decision to invest in AI matching today?
  • How is AI matching being used today to support sourcing efforts?
  • What capabilities are the most critical when evaluating providers?
  • What options do companies have when evaluating providers?
  • What impact (both negative and positive) does AI matching have in talent acquisition?
Categories
Contingent Workforce Management Talent Acquisition Technology Workforce

Extended Workforce Systems Report

Extended Workforce Systems

Extended Workforce Systems: The New Era of Total Talent Management

The modern workforce has changed significantly over the past year as companies adjust to new pressures and realities. Eighty percent (80%) of companies are leveraging contingent workers this year, and one in three plan to increase that investment. By embracing this extended workforce – which includes full-time employees, contractors, freelancers, SOW-based workers, independent consultants, gig workers, and alumni – companies can help fill critical skill gaps, provide more flexibility, and prepare for the future of work.

But, as companies look to the future of work, they also need to rethink their technology stack. Outdated solutions designed for traditional workers (talent acquisition solutions) or contingent workers (VMS) simply won’t cut it. They must consider solutions that will provide visibility into the entire workforce and allow them to attract, develop, engage, and retain all types of workers. 

This report, based on data collected in June 2021, looks at the role of technology in supporting both traditional and contingent workforces. Specifically, it reviews:

  • The current state of contingent workforce management
  • The role and future of the VMS
  • The impact of extended workforce systems

 

Categories
Talent Acquisition Strategies

The State of High-Volume Recruitment

The State of High-Volume Recruitment
The State of High-Volume Recruitment

The State of High-Volume Recruitment: Data, Trends, and Strategies for High-Volume Hiring Success Research Reports.

According to Aptitude Research, 65% of companies have some high-volume recruitment needs today. As hiring ramps up and companies look to scale, this percentage will likely increase. 

High-volume hiring is often misunderstood and as companies rethink their talent acquisition strategies for the next year, high-volume recruitment must be a priority. This report, based on data collected in 2021, looks at the state of high-volume recruitment and provides key recommendations for companies at any stage of the process. Specifically, it helps answer the following:

  1. What is the definition of high-volume recruitment and how are companies changing the way they recruit for these positions? 
  2. What are the unique set of challenges companies face in high-volume recruitment?
  3. Where do most applicants drop-off of the process and what can companies do to ensure greater conversion rates?
  4. How do issues such as pay and vaccinations play a role in hiring for high-volume roles today?
  5. What strategies should companies consider from recruitment marketing to onboarding?
  6. What capabilities can help improve high-volume recruitment?
  7. What should companies consider as they plan for the future of their high-volume recruitment needs?
Categories
Automation & AI

2021 Conversational AI Report

2021 Conversational AI Report
2021 Conversational AI Report

Just one year after our last comprehensive study on conversational AI published, the talent acquisition landscape has significantly changed.

Companies are feeling intense pressure to improve efficiencies, identify quality hires, reduce bias, and humanize the overall experience for recruiters and candidates. As companies look closely at talent acquisition technology to help lift the administrative burden of recruiting teams and engage with candidates in a more meaningful way, conversational AI checks every box. 

One in two enterprises are investing or planning to invest in conversational AI this year. But as the demand increases, so does the confusion. The goal of this report is to provide clarity around conversational AI and the impact it has on the future of talent acquisition. It will answer the following questions: 

  • How has investment in conversational AI changed during the past year?
  • What are the misconceptions around conversational AI?
  • What problems does conversational AI help solve in talent acquisition? 
  • What type of companies see value in these solutions?
  • What use cases should companies consider?
Categories
Contingent Workforce Management

Total Talent Management: The Key to the Future of Work

Total Talent Management: The Key to the Future of Work
Total Talent Management: The Key to the Future of Work

As companies face new pressures and priorities this year, they are thinking more critically about the future of their workforce. A flexible and extended workforce helps companies fill critical talent gaps, reduce costs, and improve overall productivity. It also helps companies adapt and adjust to changing business needs – especially during times of uncertainty. 

According to Aptitude Research, 80% of companies leverage contingent workers, and one in three companies plan to increase their investment this year. However, there are inherent challenges that come along with a contingent workforce strategy, including visibility, technology, and confidence in performance.  

In order to be successful, companies must shift their contingent workforce management strategies and technology. This report, based on data collected in 2020 and 2021, highlights the following transformations in contingent workforce management:

  • Shifts in ownership from procurement to HR 
  • New technology options that drive greater results 
  • Strategies to improve visibility into headcount, spend, and engagement
Categories
Employee Experience

Exceptional Experiences in Talent Acquisition

Exceptional Experiences in Talent Acquisition
Exceptional Experiences in Talent Acquisition

Are you creating meaningful experiences for candidates throughout their journey? The way that you handle the experiences of your recruiters and your candidates can either help boost your company’s reputation or put your employer brand at risk. Read more about the impact of exceptional experiences in our latest report with The Talent Board (sponsored by Symphony Talent).

This report will uncover recruitment experience challenges that leading enterprises are facing, the impact that exceptional experiences can make, and the recommendations that will save your bottom line. 

This study, based on data collected from employers and job seekers in 2020 and 2021, explores the challenges, strategies, and technology enablers for creating and maintaining exceptional experiences in talent acquisition. We divided this report into four major sections that include:

  1. The State of Exceptional Experiences
  2. The Employer Experience
  3. The Candidate Experience
  4. The Future of Exceptional Experiences
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