As the Great Retirement or Restructuring continues to make headlines, Human Resources’ attention has been on job seekers, job hoppers, and vacancies. Finding and retaining talent has been a priority, but these are short-term priorities and current approaches have failed to address the future needs of the workforce post-pandemic.
As a result, there has been an accelerated adoption of technology solutions, particularly in the area of AI, to help HR teams overcome persistent talent shortages and record-high turnover. Armed with valuable data and insights, HR leaders can use AI to augment their processes and design a future of work that is inherently intelligent.
New research from Eightfold AI shows that change agents in HR are harnessing the power of AI to make more informed talent decisions at scale. In fact, 92% plan to increase the use of AI in at least one area of HR, including areas such as talent acquisition and management processes, new hire onboarding, and payroll.
A remarkable 95% of HR leaders are using AI not only in talent acquisition and management processes, but also in DEI efforts. However, none of the responses exceeded 50% – revealing a large runway for improvement. The biggest missed opportunity was the use of AI for covert/blind resume reviews, which only 26% of respondents implemented.
The data also suggests that employees’ priorities have shifted: they value transparency, flexibility and, above all, opportunities for growth. It’s time to democratize advancement opportunities for all. Employees have high expectations when it comes to securing the future and are often eager to learn and face new challenges. But more than half of HR leaders don’t offer every employee advancement opportunities. This is a missed opportunity to unlock internal talent, nurture it from within and increase employee retention.
In this post-pandemic era, meeting all expectations at once is nearly impossible for an HR professional. AI supports – not hinders – the hiring process by augmenting the human experience. Implementing AI in HR can provide a holistic view of the workforce and empower HR teams at every stage of the talent lifecycle, giving them the greatest potential for transformation.
Read Eightfold’s full report.
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