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In the latest survey by Korn Ferry comprising nearly 800 talent acquisition professionals, 76% cite using artificial intelligence (AI) as a sourcing tool generates higher-quality candidates. Additionally, almost two-thirds (64%) of APAC respondents say AI has changed the way recruiting is done in their organisation.
Comparing the quality of candidates today to five years ago (when AI was still in its infancy), 65% said candidates are more qualified today. Despite this, more than half (56%) agree more roles are filled through internal candidates compared to external candidates, which demonstrates a growing focus on home grown talent.
In addition, 75% of companies surveyed shared that they have an internal mobility programme. Previous training on the company’s protocols and procedure, as well as the understanding of the company’s culture, puts internal candidates ahead of the game when coming up to speed in learning a new role in a new division or geography.
According to the survey, talent acquisition professionals are welcoming AI as a tool. In fact, half (51%) say big data and AI are making their roles easier, with 40% saying the top way it helps is providing valuable insights, while 34% saying it has freed up their time. However, of the 14% of respondents who say AI has made their jobs more difficult, the majority say they have too much data and they don’t know what to do with it.
“AI helps us dramatically enhance outcomes by reducing the time spent on sifting through large numbers of candidate CVs to find those best matched for a particular position,” said Pip Eastman, Korn Ferry managing director APAC Regional Solutions.
“This is particularly true in emerging markets where there are many potential candidates, but niche skills are in short supply. Looking ahead we’ll see more leaders finding ways to reskill and promote existing employees,” she added.
Meanwhile, Franz Gilbert, Korn Ferry vice president of product innovation, commented: “Data for data’s sake is not a solution for smart talent acquisition practices.”
“Recruiters need to refine their skill sets and work with the right kind of AI tools that will provide them with critical information such as compensation analysis and supply/demand reports on particular job categories in specific regions. We use AI to provide hiring managers with tangible insights, not simply industry rules of thumb or anecdotal stories about similar searches,” he continued.
Lead photo / 123RF
Infographic / Korn Ferry