The pandemic has accelerated the implementation of technology in the HR industry as well as its digitalization. Hiring has become increasingly dependent on algorithms and software. Half1 of companies have decided to increase spending on technology in 2022 and 84% of them have a plan for digitalization. Organizations invested significantly more in automation to foster sourcing processes. It’s little wonder then that technology breakthroughs for 53%2 of professionals will be the most significant factor in shaping the future of work. 38%3 of employers are investing in new hiring technologies. We present the most important and burgeoning new technology trends in HR and recruitment for 2022.
AI will help you to better source candidates
Many recruiters4 have started to use AI mainly to improve efficiency and to improve the candidate’s experience. Nowadays, AI algorithms are involved in a number of areas in recruitment. They are capable of tackling administration, pre-screening, scheduling, and every high-volume task. In general, 39%5 of respondents surveyed think that AI makes HR professionals’ jobs easier.
For example, onboarding can be much easier with approximately three-quarters of candidates saying that they would be content with an AI program while onboarding. Nevertheless, 56% of candidates think that binding hiring decisions should be made by humans as the use of too many AI and ML processes may deter candidates.
67% of recruitment professionals believe that AI has a positive impact on hiring and not just in cutting costs6. Four out of five7 of those surveyed believe that AI will soon be so advanced that these programs may well handle key hiring and firing decisions. AI hiring platforms significantly help HR departments to adjust to this volatile post-pandemic world of work. The HR industry is currently heading in the direction of more inclusion and diversity. In general, the human approach to gauging candidates is biased. 68% of HR professionals have high hopes that AI will be more bias-free and enable more equal opportunities.
The rising prevalence of HR automation
Many companies still maintain hiring processes in Excel sheets. This slows the hiring process and makes it more challenging for HR professionals. It’s believed that HR automation will significantly reduce the time spent on relevant but mundane, repetitive tasks. Hence, approximately one in three8 companies want to automate their recruitment processes. In fact, over the past two years, automation in HR has risen by 599%.9
According to data,10 organizations are mainly automating sourcing (48%) and screening (45%). Automation has become so prevalent that almost 90%11 of HR professionals now track candidates’ data stream. Because of this, the number of HR professionals with data analysis skills has skyrocketed over the past five years.12 Surveys have showed that HR automation is perceived as an opportunity for greater efficiency and enhanced business performance.
However, not everyone is a strong proponent of rising HR automation. 77%13 of recruiters feel that the sourcing process won’t involve them in the future because of automation. Young recruiters (Gen Z) are scared about losing a job because of the spread of AI and automation. However, in some quarters hiring automation is not seen as replacing humans but rather enabling them to focus on the most important issues.
Use chatbots to bolster candidate experience
Chatbot technology is becoming the bread and butter of HR professionals. In fact, Tidio found that 88% of consumers encountered a chatbot at least once last year. Surprisingly 62% of them prefer a conversation with a chatbot rather than with a human. As mentioned, chatbot penetration is only deepening and online communication has become much more automated.
Almost half of the candidates feel that not receiving feedback is the most irritating part of job seeking. Using chatbots can change this a great deal. The main advantage of chatbots is how quickly they can respond. As employer branding and candidate experience are more valuable than ever before good communication is crucial. Jobseekers increasingly expect personalized messages and being treated seriously.
More resume scans are handled by an Applicant Tracking System
Today, as applying for a job is so easy, recruiters are flooded with huge numbers of resumes. Big corporations are receiving millions of resumes annually but only a small percentage of excellent candidates are identified. An Applicant Tracking System helps recruiters in managing this huge wave of CVs.
The ATS industry is still developing and is estimated to grow by 6.7%14 year-over-year to 2026 and will be worth $3.2 billion. The USA, which is the largest market for ATS, will see ATS processes soar even more in the next few years. CV scanning and parsing significantly accelerate the process of selecting the right candidate. Thanks to resume parsing an analysis of talents’ data can be automated to a large extent. Hence, it’s much easier to filter the best professionals in the talent pool.
Talent Intelligence is gaining traction as a new way of looking at prospective employees in order to hire faster and more efficiently. By being focused on data analysis, Talent Intelligence enables the sourcing of the most relevant candidates for an organization. It also helps to make better strategic decisions15 connected with hiring and managing talent.
Talent Alpha is closely aligned with this latest technology breakthrough with its Talent Intelligence platform. Talent Alpha’s solution uses advanced psychometric measurements to bridge the best talent with the IT needs of organizations. It increases the probability of hiring the best possible candidates.
Furthermore, thanks to the implementation of Talent Intelligence you can procure a more holistic view of jobseekers. Talent Intelligence platforms can help you to choose the right talent from dozens of applications. It lowers the potential risk of hiring low-performers or those who are unsuitable for a particular position.
The introduction of AI, HR automation, and Talent Intelligence to your organization may well prove to be a watershed moment. Combining these new technologies will provide an excellent set of tools needed to hire the right talent.
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