Once feared as making the role of the recruiter impersonal and robotic, Artificial Intelligence (AI) today gives recruiters the information they need to source and hire higher-quality professionals. Those are the findings of a global Korn Ferry (NYSE: KFY) survey close to 800 talent acquisition, talent professionals.
Nearly two-thirds (64 percent) of APAC respondents say AI has changed the way recruiting is done in their organization, with 76 percent saying using AI as a sourcing tool generates higher-quality candidates.
When asked to compare the quality of candidates today to five years ago, when AI was still in its infancy, 65 percent said candidates are more qualified today. Despite this, 56 percent agree more roles are filled through internal candidates compared to external candidates, which demonstrates a growing focus on home grown talent. In addition, 75 percent companies surveyed shared that they have an Internal Mobility program. Previous training on the company’s protocols and procedure, as well as the understanding of the company’s culture, puts internal candidates ahead of the game when coming up to speed in learning a new role in a new division or geography.
According to the survey, talent acquisition professionals are welcoming AI as a tool. Half (51 percent) say big data and AI are making their roles easier, with 40 percent saying the top way it helps is providing valuable insights, and 34 percent saying it has freed up their time. Of the 14 percent of respondents who say AI has made their jobs more difficult, the majority say they have too much data and they don’t know what to do with it.
“AI helps us dramatically enhance outcomes by reducing the time spent on sifting through large numbers of candidate CVs to find those best matched for a particular position,” said Pip Eastman, Korn Ferry Managing Director APAC Regional Solutions. “This is particularly true in emerging markets where there are many potential candidates, but niche skills are in short supply. Looking ahead we’ll see more leaders finding ways to re-skill and promote existing employees.”
“Data for data’s sake is not a solution for smart talent acquisition practices,” said Franz Gilbert, Korn Ferry Vice President of Product Innovation. “Recruiters need to refine their skill sets and work with the right kind of AI tools that will provide them with critical information such as compensation analysis and supply/demand reports on particular job categories in specific regions. We use AI to provide hiring managers with tangible insights, not simply industry rules of thumb or anecdotal stories about similar searches.”
To further solidify AI’s role in recruiting, the vast majority (78 percent) of respondents say they have at least some understanding of how AI can impact the recruiting process, and 78 percent say they are excited about working with AI even more in the future.