Many companies are filling fewer roles, a major shift from the blistering pace of hiring that we’ve seen over the last few years. Due to economic fears and a job market settling from the pandemic-era disruption, this less hurried atmosphere has ushered in a trend toward candidate quality over quantity. Today companies are taking a slower, more methodical approach to finding people with the specific skills required to build out their workforce for the future.
This changed landscape brings to companies a new set of hiring challenges. To understand what human resources leaders across the globe are experiencing, HireVue surveyed 6,000 talent leaders across industries from the U.S., U.K., and Australia. The findings of our 2024 Global Hiring Report found that the biggest challenges companies are facing with hiring are:
As talent teams tackle these new complexities, we’re seeing three key trends emerge:
Talent teams used to make hiring decisions based solely on a candidate’s education and past work experiences, but past achievements alone won’t always signal future success in today’s rapidly changing economy. The question has now become less about which skills a candidate possesses and more about which skills they can hone. In our Global Trends survey, we saw a positive trend toward hiring for skills and potential:
Last year was generative AI’s big break. From ChatGPT to AI image generators, and everything in between, there’s no denying that AI has taken the world by storm. Even with limited budgets, 30% of our survey respondents increased their HR technology budgets last year. Leveraging AI and automation is a way to get more done, even with fewer roles filled. Talent teams are working with tech like never before. The biggest advantages of AI cited by companies were:
The benefits of AI tools are extensive. From skills matching to immediate candidate engagement, these tools have quickly advanced a traditionally slow, archaic hiring process. But what about the risks? Before committing to technology, hiring teams should consider:
Recruitment and human connection go hand-in-hand. Technology will never be able to replace personal touch. What it does replace are tedious, mundane tasks that bog down the process. Even more, AI can help connect talent to opportunity and unlock potential that humans may have otherwise missed. Once AI handles the early stages of the process, talent teams can step in and create connections.
When asked what investments they made last year to become employers of choice, 45% of HR professionals said they increased their wellness programs. It’s a trend we slowly saw emerge following the salary hikes during The Great Resignation. And it’s a change that could reduce employee attrition and alleviate company-wide budget issues. A commitment to employee well-being begins far before a candidate is hired. Candidates want proof that employers will keep their workplace wellness promises. If they feel like you care for them in the hiring process, they are more likely to accept a job offer.
Hiring is not just about adding a name to the organizational chart. It’s about finding candidates with ideal skills and future potential—then building an organization that helps them thrive. And over the last year, we’ve seen a positive trend in the right direction:
How can talent teams find and engage people in this unique landscape? It starts with the right hiring tools:
Technology is completely rewriting how we work. Top companies that embrace ever-evolving digital transformation are at the forefront of innovation and growth. In today’s fast-paced environment, talent teams must quickly adapt to changes. The most competitive companies will be the ones who uncover the human potential in their workforce, work side-by-side with technology to maximize success and invest in a culture where employee well-being is front and center.
Sibyl McCarley is VP of People and Engagement at HireVue, the leader in human potential intelligence, enabling organizations to elevate the hiring conversation from evaluating candidates’ credentials to understanding what they are capable of. HireVue’s deep expertise in science, AI and data, helps companies understand candidates’ unique skills and potential to match them to jobs where they can excel today, while also suggesting their path to the future. Serving over 1,150 pioneering customers around the globe including over 60% of the Fortune 100, HireVue has hosted more than 70 million video interviews and 200 million chat-based candidate engagements.
The post <strong>3 Ways Humans and AI are Working Together to Improve Hiring</strong> appeared first on HR Daily Advisor.