With recruitment still proving tough amid a tight job market, and with uncertainty slowing the global economy, automating hiring efforts could save companies both time and money. Pyramid Consulting – a global staffing company – Chief Operating Officer Punit Arhora explains how firms can leverage AI to help optimise their human resources function.
The state of the UK labour market is complicated, to say the least. According to a report by UK Parliament, in the last quarter of 2022, there were 1.19 million vacancies in the UK – almost the same as the number of unemployed people. Furthermore, the Federation of Small Businesses suggests that 80% of small firms face difficulties in recruiting skilled employees.
As per PwC’s Global Workforce Hopes and Fears Survey, the percentage of the global workforce planning to change jobs has increased to 25% in 2023 from 19% in 2022. Another survey by Micheal Page suggests that 86% of UK respondents are currently open to new job opportunities. While 50% of respondents identified themselves as active job seekers, an additional 36% consider switching when the opportunity is right, or the economic conditions are better.
So how do businesses improve hiring and employee retention during these uncertain times?
Today, businesses need to optimize their retention strategies and innovate hiring processes. And speaking of optimization and innovation, one solution that can deliver results for you is Automation.
I understand that automation for solving labour market challenges may sound unorthodox to some. After all, how can a technology with the potential to replace humans help bridge skill gaps and boost retention? Machines are speculated to take up jobs, and automation is one of the primary reasons employees feel less secure about their jobs. Well, it is all about perspectives.
Automation for optimizing hiring and improving employee retention
We all saw businesses going digital in a fortnight during the Covid-19 pandemic. Innovation emerged as a key to survival, and automation became a dark horse winning the efficiency game. But how can automation help you solve your human resource and hiring problems?
The answer is simple – it is all about Machine-Human Collaboration today.
I am not a technology expert, nor do I advocate for any side in the ongoing Machine vs. Humans debate. However, I have my fair share of experience in global staffing, people management, human resource, and business development. Thus, I can confidently say that automation is an opportunity, not a threat. In fact, the power of automation can be leveraged to improve employee hiring and retention.
While there are endless benefits, here are my top reasons why automation is nothing less than revolutionary in the employee hiring and retention process.
Time is money, and automation saves time
While this aspect of automation may not be fully employee-centric, it is worth mentioning. Automation can help save on many resources like money and machinery, but the best resource it safeguards is TIME!
Hiring someone is a time-taking process. It is not a one-day job and may take up to weeks or months depending upon the nature of the job. Automation tools can help you save time on repetitive tasks like resume screening, mail acknowledgments, and interview scheduling.
Time is money. When you manage time, your overall management improves simultaneously.
About The Author
Chief Operating Officer – US/Europe/ UK staffing
Pyramid Consulting, Inc.
To read the original article, please visit: