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Future of work

Artificial Intelligence in Recruitment Part 2

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Here’s a look at the way candidates perceive Artificial Intelligence in the recruitment interview stage.

“The future of recruitment hangs in the balance”, says Craig Fisher. Couldn’t agree more. While recruiters find themselves in the AI learning process and try to ease their work with the use of AI, candidates have something to say as well, don’t they?
The graphic below is based on a survey where more than 200 job candidates were asked about how comfortable they are interacting with an online robot (chatbot app) to speed up the interview process.
Let’s see how comfortable candidates are answering initial questions about the interview process, scheduling interviews and helping with interview preparation, and performing skills assessment.

When it comes to:
a) Answering initial questions about the interview process, the results are as follows:
21.17% are extremely comfortable
36.9% fairly comfortable
23.42% uneasy
18.92 extremely uneasy

b) Scheduling interviews and helping with interview preparation, we can see that:
36.94% are fairly comfortable
29.28% extremely comfortable
16.67% are uneasy,
17.57% are extremely uneasy.

c) Performing skills assessment:
35.59% are fairly comfortable
25.23% are extremely comfortable
18.92% are uneasy
20.27% are extremely uneasy.

Because we earlier talked about balance, we can notice from the numbers above, that most candidates seem to be open working with robots at least in this part of the recruitment process: the interview.
There is no doubt that we need the human touch in the recruitment processes. Candidates expect it and recruiters are not planning to leave that aside, but there are low-level processes that can be automated and ease every party involved. The future of work will be influenced by Artificial Intelligence and the way we look at it, the way we learn and how quickly we adapt to it, as AI has proven to be in many ways a helping hand.

Sources:
https://towardsdatascience.com/the-future-of-work-is-now-ai-helps-job-hunters-find-land-keep-dream-jobs-b58a3a247c34
https://www.entrepreneur.com/article/299612
https://www.talentnow.com/recruitment-statistics-2018-trends-insights-hiring-talented-candidates/
https://blog.namely.com/why-candidate-experience-is-more-important-than-ever
https://blog.allegisglobalsolutions.com/ready-for-the-robots-survey-says-job-candidates-are-mostly-okay-with-ai-apps-in-the-application-process

Future of jobs Infographic – Series Industry – Information & Communication Technologies

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Stop for a moment and look around.

The world is changing, and that’s a good thing. If you are not seeing it, you won’t be able to avoid it whether you like it or not. It is quite essential to develop a clear sense of what is happening around in the labor market and understand how these changes are affecting your Industry. Everything was planned, shaped for the benefit of economies and societies, and the implications of changes to work for individuals, for their livelihoods and for the youngest generations studying to enter the workforce down the line.
Are we alarmed that this change will have a negative impact on the workforce? The truth is that many in the marketplace are wondering if new technologies will replace the human employee. This isn’t the first industrial revolution that creates worries about technological unemployment. It’s commonly accepted (and also debated) that the introduction of new technologies has displaced skilled workers but created demand for jobs. Hence the idea that innovative technology at a large scale does not replace human work but enhances it by increasing productivity and thus output levels.

However, there are complex feedback loops between new technology, jobs, and skills. New technologies can drive business growth, job creation and demand for specialist skills but they can also displace entire roles when certain tasks become obsolete or automated.
At the same time, our belief is that these transformations, if managed wisely, will lead to a new age of good jobs, good work and improved quality of life for all.

First, let’s see how technology adoption can affect the Information and Communication 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.

Second, if we look at the barriers to adoption of new technologies, 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 the obstacles that were selected by the survey respondents that were perceived as impediments to successful new technology adoption faced by their company.

Thirdly we have the expected impact of new technology adoption on the workforce. In the following graphic, 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.

Adopting new technology comes packaged with promises but also with challenges. Yet, even if these technologies increase our productivity and improve our lives, their use will substitute some activities that are currently handled by people, a development that has sparked much public concern. At the same time, to leverage the benefits of new technology, workers will need to acquire skills enabling them to thrive in the workplace of the future and develop their ability to continuously learn and upskill throughout their lives.

Source: Report

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/

Future of jobs Infographic – Series Industry – Profile Financial Services & Investors

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This data provides a better understanding of the potential of new technologies. Adopting them will not only create disruption in the jobs market but will have the role to improve the quality of the existing work of human employees. By 2022, the enhancement of existing jobs through technology may free up workers from the majority of data processing and information gathering tasks.

At the same time, technology adoption might also affect more complex tasks such as reasoning and decision-making as augmentation becomes common over the years as a way to supplement and complement human labor.
New technology, more importantly, can enable increased productivity across multiple industries. The way companies compete will be affected too, with more weight given to those able to leverage technologies as tools to complement and enhance human work, rather than competitive advantages focused on operations or the ability to attract talent.

There are three aspects you should focus on. These following infographics will show you how new technology adoption influences Financial Services and Investors Industry. Even more, these will show you the existing barriers created by new technology, and also portray the expected impact on the workforce.

Let’s start with a look at how technology adoption affects Financial Services & Investors. A huge share of analysis of the 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.

Secondly, when we check out the barriers to adoption of new technologies, the five biggest perceived barriers to the implementation of new technologies across the industry become very clear, as ranked by the share of survey respondents.

Thirdly, here’s the expected impact of new technology adoption on the workforce. In this last chart, you can see the percentages representing the opinion 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 progress presents a real challenge to existing business models and practices. Despite their disruptive potential, these dynamic changes will act as a pivot towards growth for those organizations that will dedicate resources to overcome them.

Source: Report

Future of jobs Infographic Series – Industry Profile – Global Health & Healthcare

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Industries are ready to take diverse routes in the adoption of new technologies, and the distinctive nature of the work performed within each sector will result in disruption to jobs and skills that will demand industry-specific adaptation.

However, if we are referring at the relative level of education in the financial services industry, displaced roles can be easily balanced by assigning workers with an alternative, higher value-added functions. In contrast, the two largest job roles in the consumer industry, Cashiers and Sales Associates, accounting for no less than 45% of total industry employment, have a comparatively small share of workers with advanced education.
The interindustry analysis of the roles experiencing falling and rising demand suggests the possibility of using these industry-specific differences of displaced workers by expanding the search for new opportunities across the industry.

Although the changes in the labor market described in this data, are not foregone conclusions, they are reasonable forecasts arising from the actions and investments decisions taken by companies in response to global trends today.
With the adoption of this new technology, companies feel competitive pressures similar to the way they felt compelled to create global supply chains in the 1990s and 2000s.

As a result, these trends affecting business leaders’ decision environments determine a wide range of company responses that collectively shape the future nature of jobs.

Let’s start with a look at the following infographic and see how Global Health & Healthcare is influenced by this new technology adoption. A huge share of analysis of the 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.

The following graphic underlines the major obstacles that were perceived by the survey participants as impediments to successful new technology adoption faced by their company.

Nonetheless, we would like to share this information about the expected impact of new technology adoption on the workforce. In this last graphic, 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.

The expectation of this technological progress presents a real challenge to the existing business models and practices. At the same time, we hope for the next years that these dynamic changes, whether they are causing confusion or will be constructive will be the exact reason why new opportunities of growth appear.

Source: Report