The talent shortage forces recruitment departments worldwide to think differently in how professionals are approached, reviewed, managed and hired as the pressures on hiring pipelines continue to increase whilst some of the most impactful technological shifts take place which breeds the question: How are existing players utilizing AI to solve the talent problem?
Obviously, most of us are made aware of what AI is by seeing the capabilities of impressive tools like ChatGPT, Midjourney or Canva, however, AI and HR solutions are situated somewhat more in the background of the debate of how this technology is transforming the landscape of the future of work. Let’s zoom in:
How does AI solve HR problems?
Artificial intelligence does not replace humans on their job but rather assists them as it solves AI problems by technologically helping departments with specific tasks – this can for example be:
Analyizing data
E.G analyzing incoming talent and highlighting skills
Sorting data
Sorting above data and making the selection process more efficient
Making suggestions
Based on the sorted data, make recommendations based on assumptions in the data model
E.G – Professional who has applied for a role and is not a match for that exact role, but matches more with another role
One of the most interesting and impactful suggestions is that an AI tool can make is how to help retain talent which has either recently applied at has been active for an organization for a longer period of time. If, as mentioned above, for example, a candidate is rejected for one role, but qualifies more for another role, this task can be highly impactful for departments that:
have a high throughput of applicants and candidates (big organizations that can attract a lot of talent)
have cross-functional departments that do not have insight in their talent pipeline specifically but can share relevant candidates
have a highly collaborative working environment within the region
As Laurens from 8vance is one of the key figures in this industry we had to interview him to learn more about this exciting technological development. This AI driven solution provider is becoming more impactful for the Netherlands as they have trained data models on publicly accesible data to make suggestions about how to match talent with national, regional and local openings. One of the key highlights is:
“Of course, multiple candidates can be qualified for one role, and in the majority of cases only a couple of hires are made. But what about candidates that finished second? These “Silver” (From being a silver medalist/ 2nd place) candidates can siginificantly contribute to the successes of other players in the region and drive regional economical continuity and growth. With our system, we enourage hiring managers to shift their mindset by having a more open approach – we create ecosystems in which hiring managers can share qualified talent with other regional players. This will drive retention and significantly optimize the candidate journey by having turned a rejection into another possible opportunity.” From my perception as a recruitment and HR professional, this is one of the best ways to continue to look differently at how talent is managed and retained but in particular the mindshift change from existing hiring managers will continue to be one of the major challenges.
This content has been developed in collaboration with 8vance and is part of our series: AI and HR – a strong match that will impact everyone? In the next part, we will be zooming in on more AI and HR solution providers and specific examples.
Follow 8vance and Laurens here and stay tuned for future updates.
Impactful Insights 