How Australian Businesses Are Harnessing AI to Attract, Retain and Develop Key Talent

How Australian Businesses Are Harnessing AI to Attract, Retain and Develop Key Talent

Louise Langridge 20.12.2017

Australia has been plagued by a skills shortage for the past decade. As the war for talent continues to be fought, forward-thinking companies are turning to artificial intelligence for their recruitment strategies.

Australians are already embracing AI, with big businesses spending an average of $6 million annually on AI technologies. Australian businesses are using AI for every aspect of the recruiting process, and we can expect this to continue to increase in the future. 
 
Attracting Talent
One job ad can get tens of thousands of responses, even though many may be completely inappropriate or unqualified for the position. And yet, all of these responses need to be screened to find the best applicants. With the aid of artificial intelligence, the most time-consuming parts of recruitment- like creating job descriptions, CV screening, and even initial communication with candidates can take just a few seconds. 
 
Rather than replacing recruiters and HR professionals, this frees up their time for them to personalise their interactions with both candidates and clients. While trust-building, engaging, and collaborating are all high-level tasks suitable for humans, repetitive, low-level tasks like resume screening and interview scheduling are perfect for AI and automation.
 
Retaining Talent
The Facebook Messenger platform now has more than 100,000 chatbots. These bots can complete a range of tasks, including answering product and service questions, taking payments, booking appointments, and passing difficult customers to human customer service representatives. Soon, employees will be using chatbots in the workplace, for HR related questions, finding a new job, or even receiving mentoring and coaching. 
 
Imagine you have an employee who gets frustrated when she’s overlooked for a promotion in favour of her colleague. She may feel that this decision was unfair and she was the better choice. 
 
Now, managers can see if all available data would back up that employee’s opinion. Artificial intelligence is unlikely to ever outperform humans when it comes to soft skills like evoking motivation an understanding employee’s feelings. But it can definitely assist in people management. AI is able to flag potential issues, warn as employee engagement levels drop, and impartially review the results to see who really is the better choice for that promotion.
 
Developing Talent
The average millennial looks for a new job every two years. But it turns out that millennials do want stability- they just want upward career mobility to go with it. Businesses that prioritise employee growth and work to develop their talent will benefit from greater employee loyalty- and that will have a positive impact on the bottom line.
 
In the “Pokemon Era”, artificial intelligence and virtual reality can cause employee engagement to soar when it comes to training. Video-based and social learning also make learning continuous and community-driven, ensuring it’s part of employees’ daily roles, instead of a separate activity.
 
Since AI is also hugely reliant on data for its decision-making capabilities, it can analyse employees and match them with the learning methods that will boost their productivity. This empowers HR, helping identify the best training for each individual. 
 
While the above examples may seem like science fiction, they’re already either available right now or on the way in the near future. Businesses hoping to attract, retain, and develop talent will need to prioritise the implementation of AI tools in order to remain competitive going forward. 
 

6141_robotics_artificial_intelligence.jpg

Louise Langridge's picture
Joint Managing Director
llangridge@morganmckinley.com.au