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Most Fortune 500 companies aren’t using artificial intelligence and automation to offer advanced personalization and proactively engage candidates looking for jobs.
Some 93% of the Fortune 500 use AI poorly, which means they’re not delivering the level of personalization candidates have come to expect, according to Phenom’s 2021 State of Candidate Experience benchmark report.Nearly every one of the Fortune 500 don't make the most of AI's capabilities in their recruiting efforts. @Phenom_People #HR #HRTech Click To Tweet
Candidates seek the same personalized experience they see in their personal lives during their job search, Phenom said. Advanced technology—like AI—is the foundation of many services employers use to deliver relevant information in real time.
The stuff works. According to Phenom, chatbots that answer questions and present relevant jobs have been found to double candidate leads and increase job apply rates. By automating manual tasks such as screening and scheduling, they also improve recruiter productivity.
What Employers Don’t Do
The report identified a number of things employers don’t do: Some 94% don’t provide job recommendations based on their career site’s browsing history. Ninety-one percent don’t present job recommendations based on a candidate’s profile. Also, 91% don’t display recently viewed jobs. And notably, 99% don’t share an application’s status after the initial email used to confirm submission.
All that’s not helping employers who bemoan the lack of qualified candidates to work with. “The digital revolution accelerated by the pandemic has only increased candidate expectations for seamless, exceptional talent experiences,” said Phenom CEO Mahe Bayireddi. “Companies that deliver the most personalized talent journeys will be at an advantage when competing for future employees.”
During the Covid-19 pandemic, HR and recruiting teams that expanded their use of advanced technology were in a better position to (virtually) hire, grow their talent communities, upskill employees and reach talent goals, Phenom said.
While the report focuses on the current state of candidate experience across the Fortune 500, Phenom points out that employers should be mindful of every key stakeholder experience in their process. The relationships among candidates, employees, recruiters and managers are all interconnected, it said, and neglecting even one can undermine an employer’s ability to hire, develop and retain talent.