Deploying AI for Talent Development

New research by Eightfold AI details a plan to utilize artificial intelligence to adapt to the demands of the modern talent space.

Some 92 percent of HR executives are planning on increasing their use of artificial intelligence (AI) in at least one area of HR, according to a recent survey by Eightfold AI, a leader in AI-powered talent intelligence. The 2022 Talent Survey, The Future of Work: Intelligent by Design details a plan to deploy AI to adapt to the demands of the modern talent space, based on responses from more than 250 HR executives and nearly 1,000 employees.

“Talent intelligence has the power to reshape how leaders face today’s greatest challenges,” notes Ashutosh Garg, founder and CEO of Eightfold AI. “By infusing data and insights into decision-making, they can take a comprehensive approach to manage all talent and architect a future-ready workforce.”

The report unveiled how post-pandemic expectations and priorities have shifted to value transparency, flexibility, and above all, growth opportunities. Key findings in talent management include:

  • Employees crave increased visibility into skills gaps. Some 76 percent of HR leaders believe understanding skills and capabilities across their workforce is vital to long-term organizational success. Employees are in agreement, with 64 percent saying it’s important to have increased visibility into their skills gaps or the organization’s future skills needs. To successfully compete for and retain top talent, there is an opportunity to double down on understanding what people are capable of now and what skills they need to succeed, today and tomorrow.
  • Employees demand transparency in the promotion process. Some 69 percent of employees consider a transparent promotion and career development process to be important, but only 41 percent of employers offer transparent career development opportunities to all talent. HR leaders must rethink their approaches to adapt to post-pandemic employee preferences.
  • Organizations have an opportunity to democratize employee experience offerings. When asked about the extent to which employee experiences, programs, and opportunities are offered, less than 50 percent of HR leaders offer any single benefit to everyone. In fact, only 35 percent of employers offer opportunities to pivot into new roles within the company to all talent within the organization. Democratizing succession planning and internal mobility translate into talent retention and less time spent headhunting.

Transform Current Talent Approaches

In order to keep pace with current demands and simplify the sourcing process, the report suggests HR leaders need to transform their current approaches to attracting and acquiring new talent. As employers report finding talent in a shortage as the top challenge, there is an opportunity to remove the barriers candidates face in the application process and expand the criteria to attract alternative candidates. Key findings in talent acquisition include:

  • Recruiters are burnt out. Some 95 percent of HR leaders are struggling with recruiting. Not surprisingly, 1 in 5 HR leaders reported their recruiters were overwhelmed. Equipping recruiters with data and intelligence around candidate capabilities enables them to go high-touch with applicants.
  • Job seekers face barriers in the application process. Some 74 percent of employee respondents said they have considered applying for a job in the last 12 to 18 months. However, a perceived mismatch between their past experience and the job description was the top reason they did not submit an application. Improving the applicant experience and inviting more qualified candidates to apply requires organizations to rethink the role of job descriptions.
  • Expanding candidate criteria widens the talent pool. Some 40 percent of HR leaders want candidates to have previous experience in the industry. Rather than taking a “box-checking”approach to hiring, widening the criteria to consider adjacent skillsets and upskilling potential expands the pool of available candidates.
  • Mitigating bias brings in more diverse talent. A notable 95 percent of HR leaders are using AI for diversity, equity, and inclusion (DEI) efforts. However, only 26 percent of respondents use AI for masked resume reviews. Removing names and demographic information is an effective way to remove conscious or unconscious bias and support marginalized communities.
Eightfold AI’s market-leading Talent Intelligence Platform helps organizations retain top performers, upskill and reskill their workforce, recruit talent efficiently, and reach diversity goals. Eightfold’s patented deep learning artificial intelligence platform is available in more than 100 countries and 20 languages.