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The global push for generative AI regulation in talent acquisition is in its early stages. Industry experts are advocating for more control over this powerful technology in HR solutions. For example, in the European Union, new regulations regarding AI mandate consultation with workforce representation. Similarly, there are several emerging initiatives at the local level in the United States, including New York City’s new AI law, set to take effect July 2023.
Recent research has uncovered that 40% of organisations have already established teams and budgets dedicated to generative AI, indicating significant adoption among technology professionals. Interestingly, there has been over 450% growth in weekly job posts related to generative AI requisitions compared to last year. This underscores the growing importance for tech firms to understand how to use AI in talent acquisition.
It’s clear that generative AI is becoming more prevalent within the industry, and employers must be prepared to adapt to this rapidly changing landscape. Tech firms must educate their employees on how to effectively incorporate AI in attracting new talent while adhering to new legislation that requires the ethical use of AI recruitment technology.
As the use of AI in recruitment continues to grow, it is becoming increasingly important for employers to find a balance between technology’s advantages and the importance of human interaction. Procurement and talent acquisition professionals must remember that while AI can enhance the recruitment process in many ways, it cannot replace the human touch.
At Pontoon, we utilise generative AI to enhance the candidate experience. To guarantee these tools’ safe and compliant use, we have implemented a comprehensive compliance policy that applies to all our employees worldwide. The full impact of generative AI on talent acquisition is still unknown. By proactively embracing ethical AI technology, tech employers can provide more transparency to candidates about using AI tools, helping build trust and being well-prepared for the evolving recruitment landscape.
Tech employers are moving away from traditional recruiting methods, focusing on hiring for digital skills and learning abilities rather than filling specific roles. Constantly evolving digital landscapes have pushed tech employers to approach hiring with a more flexible and skills-first mindset.
Research suggests that technical skills are becoming outdated every 2.5 years on average. To that point, 74% of workers recognise the necessity of regularly updating their skills to thrive in a digital work environment.
Flexibility is crucial for building the tech workforce of the future. Employers must consider technical and non-technical and behavioural skills like adaptability, collaboration, and communication. Working well with others and learning new technologies quickly in a remote or hybrid environment is becoming increasingly important.
Firms must reassess their talent needs, creating skills-based job postings. Demand planning is also crucial to successful hiring in the tech industry. Employers should clearly understand their talent needs and be prepared to pivot their hiring strategies if necessary. This includes considering different types of workers, such as freelancers and contractors, and leveraging tools and platforms that can help streamline the hiring process.
Employers may also want to consider offering training and development opportunities to new hires as they onboard to ensure they have the skills necessary to succeed in a rapidly evolving technology landscape.
According to Deloitte, skills-based organisations are more than 100% more likely to place talent effectively and 98% more likely to retain high performers. Tech employers should offer continuing education, digital training, and development opportunities to help their employees keep up with the latest trends and technologies.
Adopting remote and hybrid models in the tech industry, with 48% of the workforce now fully remote, highlights the importance of recruiting technology for business continuity. As demand for contract tech talent remains high, particularly in areas like cloud computing, cybersecurity, and artificial intelligence, employers must have the right digital tools to attract top applicants.
Contingent tech candidates are innovative and don’t want to work for a firm that doesn’t use the latest tech. Inefficient recruiting and onboarding processes can discourage potential candidates and ultimately lead to higher employee turnover rates. To attract top talent, employers must prioritise their technological capabilities. By investing in strategic and consultative recruiting partners, companies can streamline their contingent hiring process and ensure a seamless and automated experience. Neglecting these advancements may result in losing valuable candidates.
The evolving role of technology in candidate recruitment has seen a revolution in terms of AI and machine learning integration into HR and staffing solutions. When choosing the right platform for improving hiring decisions, firms should consider factors like budget and purpose. From applicant chat-bots to AI-enhanced Vendor Management Systems (VMS), selecting a platform to deliver relevant data and insights is fundamental. Making the right choice can significantly contribute to better hiring decisions.
“By harnessing innovative tools and platforms, organisations gain a competitive edge, attracting top talent and making informed decisions that propel their growth and drive excellence.”
Fernanda Aultman, Senior Director Customer Experience at Pontoon
Pontoon Instinct – and specifically its Technology & Integration practise – helps customers scope, build, and deploy technology solutions. This includes consulting on the contingent labour hiring platforms that best suit our clients’ business requirements. We understand that user adoption is necessary for the success of any new recruiting technology. Our team’s extensive expertise in project management, change management, and training initiatives ensures a smooth transition to any newly implemented technology.