Many companies today are looking to augment their talent acquisition capabilities with artificial intelligence (AI) and other emerging technologies. At the same time, they're cautious about investing in expensive new technology without having a sense of the likely return on investment.
Such caution is merited. After all, the potential benefits of AI have been much touted, with the technology described as "almost a definition of hype" in Gartner's 2018 Hype Cycle for AI. Nonetheless, overburdened HR practitioners are eager to find solutions, and the digital marketplace is abuzz with creative technology solutions that promise to eliminate mundane tasks while speeding up and simplifying the hiring process.
How can companies leverage these new tech-enabled tools to ensure they see optimal value while taking on minimum risk?
Knowing which options to invest in requires organizations to identify specific pain points in their talent acquisition strategies. From there, they can properly evaluate which technologies will add value — and how. The latest technology solutions for HR leaders are capable of addressing multiple aspects of the talent acquisition process, including:
So take the time to identify your pain points and ensure you have buy-in from all stakeholders involved in the process, including senior leaders. Then you're ready to begin exploring solutions.
HR teams today may already feel overburdened with highly specialized — and at times redundant — communication, collaboration and data management systems and platforms. So it's important to approach AI and other new tech tools with realistic expectations. Indeed, Randstad’s 2019 predictions report cautions that despite the excitement about AI’s potential impact on HR operations, the reality can be underwhelming. For example, digital sourcing solutions leverage AI to aggregate job postings, together with people analytics that quickly and continuously match talent with job opportunities; but humans still need to step in and make decisions about candidates at some point in the process. In other words, while technology can significantly reduce repetitive tasks, it isn't going to eliminate them overnight.
Simply adding a new HR tool, without first considering how to strategically redeploy human assets and take advantage of the human touch, will lead to suboptimal return on your investment. At the end of the day, humans must manage the benefits of technology — and that requires understanding how the new technology will impact operations from end to end. For example, if a new digital sourcing technology gives recruiters an extra hour of time each day, managers must restructure priorities and workloads accordingly so that the recruiters can dedicate this additional time to value-adding activities.
Strategic technology interventions can help you get ahead in today's highly competitive talent market. However, given the costs and risks associated with such an intervention, partnering with a staffing company like Randstad can be a smart alternative for many companies. That way, you gain access to today's most cutting-edge technology solutions, such as pre-employment screening and video interview tools, while mitigating potential risks. Our high-tech, high-touch approach — bringing together the latest technology with experienced staffing professionals — can help position your company as an employer of choice.
Download our 2019 predictions report and learn more about why leading companies choose Randstad.