The future of talent acquisition: How AI has changed the hiring game
The world changed on November 30 2022.
That was the day OpenAI launched ChatGPT, a generative AI platform that has become ubiquitous in almost every market worldwide.
And for good reason.
When it was first released, the technology was hyped as a tool that could do anything for anyone.
It can write your blogs.
It can code your websites.
It can create a 3 hour operatic theatrical production starring Donald Duck as a wild west sheriff.
Chat GPT was absolutely a game changer. But if we’re honest, the world has been changing for a long time.
AI-based technology has become a driving force for innovation in almost every industry, with about 44% of companies looking to invest in the tech according to IBM’s Global AI Adoption Index.
And key players in the talent acquisition sphere are taking notice.
Direct Sourcing platforms have been leveraging AI-powered tech for years, allowing Curators and Hiring Managers to find and attract better candidates faster while cutting manpower costs.
We look into how AI can supercharge your Direct Sourcing strategy—and why more companies are opting in.
The rise of AI – Understanding a changing world
AI first dominated the news cycles in 1951, when a computer program played a whole game of checkers all by itself at the University of Manchester. Since then, it has been used in every industry, from education and computer engineering to medical sciences, marketing, and, of course, talent acquisition. The list of AI-based accomplishments is quite literally exhaustive.
As we enter 2024, the latest hot-ticket AI-powered tech items were on display at the Consumer Electronics Show (CES), held in January 2024. The world was introduced to AI companions like Loona, a robotic dog with OpenAI tech that lets users give it commands, a two-legged AI assistant made by LG that can help with chores, and a long-list of smart appliances – from robotic lawn mowers and snow plowers to AI-powered vacuums and mops.
AI in Talent Acquisition and Direct Sourcing
As AI-based tech continues to grow exponentially, leaders in the talent acquisition field have opted in. Direct Sourcing platforms like TalentNet use machine learning, artificial intelligence and OpenAI technology to reduce time to hire, streamline talent acquisition processes, and give Curators a competitive edge.
Companies are starting to leverage AI to create a better candidate experience – which seems counterintuitive on the surface.
Speaking to a real human should consistently lead to a better hiring process, right?
Yes and no.
Finding, engaging with and tracking candidates is an exhaustive process. Curators don’t always have time for authentic one-on-one communication, leading, ironically, to a robotic, impersonal experience for talent.
By using AI tools to support the process, Curators are freed up to cultivate those important relationships that lead to better candidate experiences.
Here’s how Direct Sourcing companies are using AI:
- Through intelligent curation assistants. Leading-edge companies are using OpenAI’s integrations to help Curators quickly pinpoint the best candidate for each role without going through hundreds of applications.
TalentNet’s TalentNavigator helps Curators find the right fit faster. The tool can search through and analyze long lists of candidate data, share key insights on top talent and answer complicated questions, such as “Who’s the best candidate with computer engineering experience willing to work from the office?”
Outside of the talent acquisition sphere, many companies are starting to make use of generative AI. HubSpot, for example, has a tool that integrates with ChatSpot.ai to allow users to draft emails, build simple reports and complete other CRM-related tasks.
- By accessing candidate data and analytics. Curators are using tools to quickly understand candidate demographics, experience levels and other key metrics. TalentNavigator, for example, lets users leverage profile insights to better optimize their talent pools.
- By supporting DEI efforts. AI-powered tools like TalentNavigator let Curators search for diverse candidates, allowing companies to easily prioritize Diversity, Equity, and Inclusion strategies.
- By writing engaging job descriptions. TalentNet is pioneering a leading-edge feature powered by OpenAI technology to quickly create clear, effective job descriptions that attract top talent. The Job Description Optimization feature, found in TalentBench, writes descriptions based on the Curator’s output to help companies attract top candidates and save time.
- By matching candidates to jobs faster. Creating a positive candidate experience helps attract top talent faster.
TalentNet’s AI-powered technology lets candidates apply for jobs within 60 seconds through job-matching. This feature scans an applicant’s qualifications and identifies relevant opportunities based on their credentials. When a candidate joins a Talent Community and submits their resume, the tool will provide other jobs that match their skill sets along with a match percentage. The better the match, the higher the percentage. This creates a smooth, efficient candidate experience.
Data privacy: Navigating key laws and regulations
Companies adapting AI-powered solutions are often faced with data privacy concerns. A recent Pew Research Center survey found that 70% of Americans have little to no trust that businesses will use AI responsibly, with 81% saying they’re uncomfortable with how collected information may be used.
Privacy laws were set in place to help protect consumers against improper data storage and usage.
At TalentNet, protecting client data is a top priority, which is why we invest heavily into data protection. TalentNet holds SOC 2 Type II compliance and ISO 27001 and 27017 certifications, and stays up to date with international privacy laws. Our AI-driven features do not store any personal information, are not used to train AI models, and allow the Curator full control over the process.
For companies using AI-powered talent acquisition platforms, changing privacy laws can cause complications.
One such company learned this first hand.
Capgemini leveraged TalentNet’s experience with privacy laws while expanding to new markets in different countries. The Direct Sourcing experts worked with different regional offices to ensure the company was compliant with all data privacy regulations during each expansion.
The company’s main goals were to manage its vast contingent worker program, build solid global talent communities filled with vetted employees, and identify former workers for re-engagement. Capgemini saw TalentNet’s platform as a viable solution, but faced issues with data privacy regulations when moving into new countries.
As a data privacy leader in our field with the highest accreditation, TalentNet guided the organization through their expansion into each new region. As the Direct Sourcing technology provider, they worked with each country’s data privacy offices to ensure the organization was complying with all relevant laws.
Capgemini successfully built a global talent community of over 100,000 members while expanding to India, the UK, France, the Netherlands and Belgium, with plans to continue to grow worldwide.
Building an effective talent acquisition strategy
AI has changed the talent acquisition industry.
And candidates are noticing. From a seamless, 60 second application process to better communication and easy-to-understand job descriptions, AI-powered tech is creating a positive candidate experience while also reducing costs and increasing efficiency.
To test out TalentNet’s intuitive, AI-powered platform, request a virtual interactive tour here.