TheBusinessTimes.com.au
The Times

Survey Finds Artificial Intelligence Already in Widespread use in Australia’s Recruitment Sector


SmartRecruiters, Next-Generation Technology for Hiring Without Boundaries, today released survey results that show more than 75% of Australian recruiters are already making use of artificial intelligence (AI) tools as part of their talent acquisition processes.

Asked to nominate their tools of choice, more than half (55%) of respondents pointed to Generative AI tools such as ChatGPT. AI-powered candidate matching tools were nominated by 21% while AI-based assessments were named by 18% of respondents.

“The results confirm the rapid update of AI technology across the recruitment sector,” said Richard Lewis-Jones, VP Asia Pacific, SmartRecruiters.  “Clearly, leading recruitment firms understand the value the tools can deliver and the ways in which they can streamline the entire process.”

When asked which emerging recruitment technologies or trends they were exploring to remain competitive, more than half (52.9%) of respondents named AI-based sourcing. This was beaten only by skills-based hiring tools which was nominated by 55.9% of respondents.

Respondents were also asked to name the technologies and tools they have found to be of most value when it comes to talent acquisition. Application Tracking Systems (ATS) were nominated by 79% while AI-powered recruitment tools were nominated by almost a quarter (24%) of respondents.

“There is a hunger for technology among recruiters who continue to have to work in a constrained market for talent,” said Lewis-Jones. “As the power of tools continues to increase, we are likely to see their usage increase even further.”

Achieving a better candidate experience

The survey results echo other industry research that has found effective usage of digital technologies is high on priority lists across the sector. According to a recent report from KPMG[1], 77% of Australian talent leaders say talent acquisition, retention, and re-skilling was a top challenge during 2023 and 61% expect this to continue for at least the next three years.

“Getting the right people to perform the most effective tasks with the most efficient tools is more complex than it sounds, and this is no more evident than in the quest to create a positive candidate experience,” said Lewis-Jones. “Talent acquisition teams are not alone in the talent shortage, and many need to do more with fewer staff which means using technology to fill the gap.”

Lewis-Jones said the rapid uptake of AI-powered tools was unlikely to slow during 2024 as more firms come to understand the benefits they can deliver.

“Just as AI is reshaping many areas of business, it will continue to drive change across the recruitment sector,” Lewis-Jones said. “It will be fascinating to watch how things evolve during the coming year.”

The SmartRecruiters survey, which was conducted in November 2023, also found that talent acquisition managers are focusing their key initiatives in 2024 on improving time to fill positions and improving the quality of hires.

About SmartRecruiters

SmartRecruiters enables Hiring Without Boundaries™ by freeing talent acquisition teams from legacy applicant tracking software. SmartRecruiters' next-generation platform serves as the hiring operating system for 4,000 customers like Bosch, LinkedIn, Skechers, and Visa. Companies with business-critical hiring needs turn to SmartRecruiters for best-of-breed functionality, world-class support, and a robust ecosystem of third-party applications and service providers.

For more information visit www.smartrecruiters.com or www.linkedin.com/company/smartrecruiters.

Trending

Going Renewable? Australian Businesses May Be Able to Get Government Help to Pay for It

Australia's transition towards renewable energy is costing governments billions of dolla...

The Business Model Behind Australia's Holiday-Park Boom

There was a time when owning a caravan park looked like a relatively uncomplicated busin...

RBA holds at 4.35% — what the interest rate decision means for Australian business

For Australian businesses, the Reserve Bank's decision to leave the cash rate at 4.35 pe...

El Niño is a business risk: What Australian companies should be watching

El Niño is usually discussed as a weather story. Australian businesses should also regar...

The Iran war is costing Australian businesses — and the biggest bill may still be coming

For Australian businesses, the economic consequences of the Iran war extend far beyond t...

Business guide: Using AI to protect your business from scammers and bad debt

Every Australian business, from sole traders to large corporations, faces the same chall...

The Business of Ageing: The Multi-Billion Dollar Industry That Will Shape Australia's Future

Australia's aged care sector is no longer simply part of the healthcare system. It has b...

The New Economics of Retail

Retail has become one of the most competitive industries in the modern economy. A local...

Private Credit: The New Engine of Business Finance

Private credit has evolved from a specialist corner of finance into one of the world's f...

Bird Flu: Why Investors, Retailers and Consumers Watch Every Outbreak

Bird flu is a public health issue, but it is also a business story. Outbreaks can rippl...

Scam Calls Are Becoming a Business Risk

Telephone scams are no longer simply a consumer problem. Australian businesses, from so...

The Sweet Business: Why Confectionery Remains One of Australia's Most Reliable Industries

The confectionery business has survived recessions, inflation, changing consumer tastes ...

Property Investment After Tax Reform: Why Smart Investors Are Looking Beyond the Headlines

Australia's residential property market has proved more resilient than many predicted, r...

Cryptocurrency in Business: Greater Opportunity, Greater Responsibility

Cryptocurrency is no longer confined to technology enthusiasts and private investors. Incr...

AI Is Becoming Every Business's New Employee — But It Still Needs a Manager

Artificial intelligence has moved beyond the experimental stage. Across Australia, busines...

The Business of Medicines in Australia: From Laboratory to Local Pharmacy

For most Australians, the medicine business begins with a visit to the doctor and ends w...

Why Global Tourism Is Big Business for Australia

Every visitor is an export customer who comes to us. Tourism is often thought of as bea...

Higher Fuel Prices Could Permanently Change the Way Australian Businesses Operate

Australian businesses have weathered fuel price spikes before, but the latest surge may ...