Is your organization leveraging the power of Artificial Intelligence (AI) for data-driven talent acquisition and talent management? Talent intelligence can help you future-proof your workforce, from guiding your new hire strategy to identifying the individuals already in your organization who can be reskilled. Here’s how companies are using API-embedded Talent Intelligence in their Human Capital Management Systems to drive greater results throughout their organization.
Making the Right Hire at the Right Time
Finding the right employee to fill a current vacancy is important, but so is identifying the right skills and employees for your organization’s future needs. Talent Intelligence delivers actionable insights into your candidate pool and current workforce, identifying both current ability and future potential.
According to Deloitte’s 2017 Human Capital Trends Report, while 71% of companies saw people analytics as a high priority in their organizations and one out of three rated it very important, only 8% reported they had usable talent data. Less than one out of ten believed they had a good understanding of which talent dimensions were driving performance in their organizations, and barely 15% were broadly deploying HR and talent scorecards.
Things have come a long way since that report, and it is estimated that 56% of HR organizations are using AI for talent acquisition. In two years that number is expected to hit 77%. And while the massive time savings on manual resumé review and passive sourcing rank high on the list of reasons why companies invested in talent intelligence, an Oracle survey found that 66% of respondents most value Talent Intelligence’s ability to correctly identify candidates with needed competencies. On related goals, 46% say they hope to reduce regrettable hires, and 44% want to identify the best internal candidate.
4 Ways Talent Intelligence Improves Talent Acquisition
Leveraging AI to identify, hire, and train your talent can be key to building a workforce that will readily evolve to meet each new workplace challenge.
Talent Intelligence platforms such as Censia’s can greatly reduce the time spent on passive sourcing, while simultaneously delivering more qualified and diverse candidates. AI-powered talent acquisition tools draw information from thousands of online sources and compile them into a golden record before using predictive analytics to evaluate their fit for a role. Learn more about intelligent passive sourcing.
Because Talent Intelligence platforms have comprehensive information on the entire workforce it gives candidates instant access to candidate information and talent insights, as well as contact information, in one screen. Solutions such as Censia’s can even compare employees, job applicants and passive candidates, ranking them and delivering a slate of the most suitable candidates. Learn more about complete talent profiles and instant applicant rankings.
The skills companies need to stay competitive are rapidly changing, but Talent Intelligence can instantly conduct skills gaps analysis to determine which skills a company needs to target, as well as competitive analysis and forecasting to ensure that companies are competitive now and in the future. Learn more about Workforce Intelligence.
Upskilling your Workforce
Both external talent and current employee profiles can be analyzed with an eye to their potential for upskilling and reskilling, to create a workforce primed and ready for a rapidly changing state of work. Tech knowledge and soft skills will be in high demand over the next five to ten years, and competition for such talent will be fierce. One of the best ways to create a future-proof workforce at a lower cost and with higher engagement is to engage in company wide upskilling. Learn how companies are using upskilling to prepare for the jobs of tomorrow.
How Censia brings AI into Play for Recruitment
Censia is the ideal solution for resume and application overload as well as workforce planning and forecasting. Best of all, Censia Talent Intelligence is available in most ATS and HCMS systems, giving talent teams access to comprehensive and actionable talent insights within their current workflows.