Organizations across the globe are looking for ways to cut costs and streamline processes. Because efficiency is everything in today's tough economic climate, many organizations are increasingly automating how they attract and engage top talent is the way forward. Seeking to fast track their hiring processes, more and more recruiters are exploring some innovative and creative applications of marketing automation technology, which allows them to nurture candidates throughout the recruitment journey and even engage top talent before they are ready to apply.
As the business world continues to rebound from the pandemic, many companies are taking to heart the lessons they learned during nearly three years of staffing challenges. While putting a renewed focus on their current employees, they’re also recognizing the importance of having a strong workforce in the future, especially given that the hiring market shows no signs of improving soon.
With its ability to analyze the connection between candidate skills and position requirements, artificial intelligence (AI) is one of the most sought-out capabilities for talent acquisition platforms. With the rise in AI over the last decade, some industry leaders regard "AI-enabled" or "AI-powered" as buzzwords, because most talent acquisition (TA) companies leverage AI only in siloed data-science initiatives or only outside the context of their own platforms.
Researchers have found that companies with a more diverse workforce and leadership team are overall more profitable than their peers that lack such diversity. Many factors lead to this growth in revenue. Notably, today’s applicants want to work in strong company cultures that value people and how employees contribute to a company’s success. This interest drives top talent to companies with well-developed inclusive cultures and improves retention among current staff. An engaged workforce tends to be more productive-and higher productivity generally means higher profitability. How have these organizations created such engaging and impactful DEI programs? All successful DEI efforts include a few critical elements.
An organization has a skills gap when a tension exists between what it needs to accomplish and what its employees are capable of doing. To some degree, most organizations find themselves in this situation today, thanks to factors such as the retirement of older workers, economic changes, and the continued lightning-fast evolution in technology. By examining some key data points about the skills gap, though, companies can be better prepared to understand its significance and take steps to address it.