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4 Hiring Trends 2019

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In the Infographic below, we’re highlighting 4 hiring trends that you should consider when making a hire in 2019.

Let’s talk about the first one: Artificial Intelligence.
AI, as we already noticed, has an impact on the recruiting processes, making them easier to handle. According to studies, 52% of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large applicant pool. Katrina Kibben, Randstad argues that “Any area of recruiting where distinct inputs and outputs occur – like screening, sourcing, and assessments – will largely become automated”.

However, AI requires abilities from a recruiter in order to use the new technologies, so the question remains: are the HR/ talent acquisition department/ recruiters ready for it?

Hiring for potential.
Although experience is not to be neglected, it does not equal performance. So why focus your attention on hiring for potential instead of experience? Besides the reduced costs, there are many benefits to what a less experienced but driven candidate might bring to the table, such as adaptability, creative thinking, communication skills, or flexibility.
Let’s keep in mind the fact that what used to work in the past, might not work in the future, and hence why adaptability is a key trait.

Work flexibility
Why offer flexible hours? Because you want happy and productive employees. Let’s put it this way: If an employee has problems in their personal life, it affects their professional one, and vice-versa. Work-life balance is a direct result of employees’ ability to have a say in how they use their time for work. Needless to say that with flexibility comes great responsibility and openness to staying accountable.

Candidate experience
Why is the candidate experience important, you may ask? Monster’s CandE report found that of the candidates who had a positive hiring experience:
1. 62% will increase their relationship with brands products and networks;
2. 78% would refer someone in the future;
3. 62% would apply again.

These trends help us understand how to best adapt to the future of work. They impact the way companies relate to the labor market, what candidates expect from new jobs, and how organizations can create an environment that encourages professionals to attain their full potential. Despite a heavy emphasis on autonomous technology, at SourceMatch we believe that human interaction is by far the one that candidates will remember best from the whole hiring process. So what are you doing to make sure that whether they are selected or not for a job, candidate’s will have a lasting positive impression of your organization, brand, and employees?

Sources:
https://ideal.com/ai-recruiting/
https://www.digitalistmag.com/future-of-work/2018/06/29/should-you-hire-for-experience-or-potential-06177338
https://theundercoverrecruiter.com/global-stats-recruiting-trends/
https://www.forbes.com/sites/serenitygibbons/2018/08/16/how-ai-can-make-recruiting-more-efficient/#186f43c52acc
https://www.shrm.org/ResourcesAndTools/hr-topics/talent-acquisition/pages/many-job-seekers-are-ready-to-work-with-ai-chatbots.aspx
https://medium.com/ansaro-blog/introducing-ansaro-767a1aaccbe
https://www.inc.com/springboard/5-reasons-to-hire-for-potential-over-experience.html
https://syndeohro.com/3919-2/
https://www.recruitment-international.co.uk/blog/2018/02/70-percent-of-millennials-want-flexible-working-options-research-finds
https://ideal.com/stats-candidate-experience/

Artificial Intelligence in Recruitment

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Artificial intelligence, known as AI, is progressing rapidly and we see it in many forms today.
Before thinking about implementing AI or machine learning in your organization’s processes, you have to make sure you understand completely the new technologies.

What is Artificial Intelligence (AI)?
As there are many definitions out there, we list 3 of them below.

1. According to Merriam Webster:
a: = a branch of computer science dealing with the simulation of intelligent behavior in computers
b: = the capability of a machine to imitate intelligent human behavior

2. According to Britannica:
= the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings.

3. According to English Oxford Living Dictionary
= the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.

How about machine learning?

SAS defines machine learning as “a method of data analysis that automates analytical model building. It is a branch of artificial intelligence based on the idea that systems can learn from data, identify patterns and make decisions with minimal human intervention”.

So how do these change the future of recruitment?

One of the greatest challenges businesses face today is recruiting in a market where suitable talent is scarce. It’s also critical for a business’ success to find and retain the best talent.

AI can make onboarding easier, and a first impression many times leads to a positive first impression of an organization’s processes. New hires are provided with helpful information in order to make their work lives easier right on the first day of work, and then timed based on the various stages of integrating into the work environment.
According to Jill Hauwiller (Leadership Refinery), AI will revolutionize how companies screen resumes and candidates in their databases; also, building and maintaining authentic, professional relationships will help people stand out and land the interview.
Korn Ferry Global Survey’s results on nearly 800 talent acquisition professionals, show us that 63 percent of respondents say AI has changed the way recruiting is done in their organization, with 69 percent saying using AI as a sourcing tool garners higher-quality candidates.
Machine learning technology can automate processes like programmatic advertising (the process of purchasing ad space through a software, and relying on complex algorithms to deliver advertisements contextually).

One question still remains: are organizations ready for AI and machine learning? Does the labor force have the right skill sets in order to use new technologies and tools?

Let us know your experience by leaving a comment below.

Sources:
https://www.kornferry.com/press/korn-ferry-global-survey-artificial-intelligence-reshaping-the-role-of-the-recruiter
https://harver.com/blog/machine-learning-in-recruitment/
https://grid.bullhorn.com/key-findings/na/

Future of jobs Infographic – Series Industry – Chemistry, Advanced Materials & Biotechnology

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We are now living in a time where we can see the Fourth Industrial Revolution with our own eyes. One of the things we are going to notice is that major changes are being made in the business environment. These occur due to the impact of the Fourth Industrial Revolution on other socio-economic and demographic factors. This combination creates significant disruptions in the labor market. As a result, you’ll notice the emergence of new job categories. That means some of the legacy jobs are being replaced by new ones. People must be ready for this kind of change as it transforms the way people work.

There are four drivers of change that have a strong say in the market today. Here are the ones that we must take into account: the ubiquitous high-speed mobile internet, artificial intelligence, widespread adoption of big data analytics and, last but not least, cloud technology. These are set to dominate the 2018-2022 period because these drivers of change will most definitely affect in a positive way the way businesses grow.
Another important change comes with the increasing transition towards automation as nearly 50% of companies surveyed expect that their full-time workforce will decrease as a consequence.

This finding is based on the job profiles of their employee base today. Even with this happening, we must take into account the fact that 38% of businesses surveyed expect to extend their workforce to new productivity-enhancing roles, and more than a quarter expects automation to lead to the creation of new roles in their enterprise.
There is a range of roles that will experience increases in the period up to 2022: Data Analysts and Scientists, Software and Applications Developers, and E-commerce and Social Media Specialists. We can tell that these roles that are significantly dependable on the use of technology. Another important aspect is that there is obvious evidence of accelerating demand for the latest technologies such as AI and Machine Learning Specialists, Process Automation Experts, Big Data Specialists, User Experience and Human-Machine Interaction Designers, Information Security Analysts, Robotics Engineers, and Blockchain Specialists.

Everyone must be ready for what’s coming by preparing ahead of time instead of adapting to change that’s already happened.

The first graphic presents the technology adoption by Automotive, Aerospace, Supply Chain & Transport industry. A huge share of survey respondents from the industry indicated that, by 2022, their company was “likely” or “very likely” (on a 5-point scale) to have adopted new technology as part of its growth strategy.

In the second graphic, we can see the five biggest perceived barriers to the implementation of new technologies across the industry, as ranked by the share of survey respondents. The following graphic will show you which were the obstacles that were selected by the surveyed people that were perceived as impediments to successful new technology adoption faced by their company.

The following graphic shows the expected impact of new technologies adoption on workforce. Here you can see the percentages representing the share of survey respondents from the industry who expect their company to have adopted the stated measure(s) over the 2018–2022 period as part of their current growth strategy.

Technological advancements are very likely to present real challenges to existing business models and practices. But hopefully in the next years, these dynamic changes, whether they are disruptive or constructive will be the exact reason why new opportunities of growth appear.

Source: Report