Employers increase AI investments to attract and hire skilled workers in increasingly tight labor market
Randstad Sourceright Talent Trends survey finds employers are investing in technologies and employer branding to enhance hiring strategies
ATLANTA, May 1, 2018 /PRNewswire/ -- Businesses are making significant investments in artificial intelligence (AI) technologies to help attract and hire skilled workers in an increasingly tight labor market, according to a report released today by global talent solutions firm Randstad Sourceright.
Based on a survey of more than 800 human capital leaders, Randstad Sourceright's Talent Trends Quarterly found that 3 out of 4 employers are overhauling their recruitment strategies to simplify, accelerate and improve the hiring process for job candidates, with 46 percent increasing investments in technologies, including chatbots, human cloud platforms and predictive analytics. The move comes as tech-savvy millennials officially become the largest generation in America's workforce and talent scarcity continues to be a pressing issue, pushing employers to implement new strategies that attract, hire and retain this growing group of first-generation digital natives.
"Millennials are a critical part of our national workforce and the way they look for jobs, and what they look for in a job, has changed dramatically from previous generations," said Rebecca Henderson, CEO of Randstad Sourceright. "As a result, employers are investing heavily in digital recruitment tools to better reach this audience and focus on creating an employer brand that is more likely to retain this large segment of the workforce."
According to the survey results, 42 percent of companies are increasing budgets to strengthen their organization's employer brand to attract a larger talent pool and improve employee retention. Additionally, 69 percent of employers are implementing employee engagement programs to create a more stimulating, rewarding and meaningful workplace experience for employees and turn their existing staff into proud brand ambassadors.
"Employees are expecting more from their employers, so companies need to create an employment experience that is sought out by job seekers and employees alike," Henderson added. "As America's labor market continues to evolve and tighten, companies will have to create a talent-centric workplace that sets them apart from competitors and proves to workers that the organization they work for is an industry-leading employer."
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Q2 2018 Talent Trends Quarterly Report Highlights
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Investing in Tech: Fifty-one percent of employers are increasing investments in workplace technologies, while 46 percent are investing in technology to improve the job candidate experience.
Employer Brand: Nearly 50 percent of companies believe their employer brand has an equally effective impact of their brands on internal and external audiences, while 90 percent believe it is an extremely or very important aspect in attracting today's top talent.
Praise for AI: Fifty-four percent of employers believe AI can deliver greater efficiency and consistency to job candidates, while 43 percent believe AI can free up humans to focus on more strategic projects robots cannot address.
Employee Engagement: More than 60 percent of those surveyed believe employee engagement programs are very or extremely important to their overall business strategy, and nearly half are investing more in workplace culture and worker feedback systems to better engage employees.
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More findings are available in Randstad Sourceright's 2018 Talent Trends Quarterly Report.
About Randstad Sourceright
Randstad Sourceright is a global talent solutions leader, driving the talent acquisition and human capital management strategies for the world's most successful employers. We empower these companies by leveraging a Human Forward strategy that balances the use of innovative technologies with expert insights, supporting both organizations and people in realizing their true potential.
As an operating company of Randstad N.V. — a €23.3 billion global provider of HR services — Randstad Sourceright's subject matter experts and thought leaders around the world continuously build and evolve our solutions across recruitment process outsourcing (RPO), managed services programs (MSP) and integrated talent solutions. Read more at www.randstadsourceright.com
SOURCE Randstad Sourceright
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