The Fortune 500 has made “significant” progress in enhancing the candidate experience by using AI and automation to connect candidates with relevant jobs. The companies are also creating content to convey a strong employer brand in the U.S. talent market.
Phenom’s State of Candidate Experience: 2023 Benchmarks Report shows Fortune 500 companies have made improvements in delivering hyper-personalized experiences and job-matching that have strengthened candidate attraction, engagement and conversion. Among the report’s findings:
- 250% increase in presenting job recommendations based on browsing history
- 150% increase in the use of AI-powered chatbots
- 145% improvement in site navigation
- 87% increase in displaying recently viewed jobs
- 74% increase in video content
- 50% increase in well-written job descriptions
On the other hand: Although organizations are increasingly adopting AI-powered technology, 89% scored poorly in their use of AI, indicating there is still a significant gap between the solutions available and what companies have implemented, Phenom said.
- 86% did not present job recommendations based on browsing history
- 85% did not use chatbots
- 85% did not display recently viewed jobs
- 84% did not provide job recommendations based on candidate profile
- 80% lacked compelling content on their career sites
Intelligence, Automation and Experience
For hourly workers, automating hiring workflows reduces friction, the report found, helping organizations attract, engage and hire more quickly and more efficiently. For knowledge workers, intelligence brings highly personalized, contextually relevant information to enhance productivity and output. Technology such as hyper-personalized career sites, conversational chatbots, automated screening and scheduling, and content that showcases a company’s culture all improve the candidate experience, Phenom said.
To improve the candidate experience, Phenom’s report recommends a series of actions organizations can take:
- Personalize the candidate experience through AI and automation. Candidates today expect the online job search to be similar to purchasing consumer goods.
- Use content to show off a strong employer brand. When deciding if a job is right, candidates spend a significant amount of time researching a company. If a digital brand does not meet their expectations, they may not feel enough of a connection to apply for an open role.
- In addition to AI and automation, organizations must be quick to adopt innovations such as generative AI, which enables them to automatically create content and surface relevant information.
In April, Phenom released products and features including tools to improve talent acquisition’s efficiency, monitor and manage the skills-related needs of employees and managers, and use AI to automate content creation and eliminate tasks normally shouldered by users throughout the talent acquisition process.