As leaner talent teams face the challenge of delivering more with fewer resources, there's a real opportunity to leverage the abundance of AI tools that have emerged since 2023, helping you streamline your talent management processes.

With tighter budgets, talent teams are strategically consolidating tech stacks and choosing versatile platforms from trusted vendors to minimise the number of tools they rely on. 

"The biggest challenge talent teams will want to tackle in 2024 is having zero budget for new platforms for AI & candidate experience. " Quoted by a Head of Commerce at a scale up

How to optimise your talent operating costs:

1. Consolidating Platforms

Choosing platforms with multiple features allows for an integrated approach, reducing complexity and potentially lowering subscription costs. 

Considerations to make before putting your eggs into one basket:

  • Does it integrate with our existing tools?
  • What's the total cost of ownership?
  • How will consoldation impact our workflow?

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2. Calculating a Return on Investment

When seeking budget approval for new tools, focus on strategic metrics that demonstrate business impact. Consider long-term costs and benefits of contract commitments.

Metrics to measure:

  • Cost associated to hours saved
  • Impact on the business from filling critical roles 
  • Financial implications of underutilised platforms
  • Savings from decreased reliance on ads & agencies

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3. Selecting the Right Vendor

Opt for vendors with a strong track record & a solid client base to ensure reliability and service continuity.

Questions to ask vendors:

  • What's your financial runway?
  • Does the platform have the ability to scale as your business does?
  • What are the future roadmap and development plans?

38% of HR leaders have explored or implemented AI solutions to improve process efficiency within their organisation.

 

How are talent teams using AI, and what tools do they most recommend?

We've pulled together some of the most popular recruitment tools from our clients and talent network, many of which have added new features using AI.

To bolster outsourcing efforts, teams are adopting AI platforms like Sourcewhale and LaGrowthMachine. For improving interview processes and reducing biases, tools like Metaview, Evidenced, and Screenloop are very popular for their ability to generate detailed candidate notes and enhance interviewer skills. And a reliable Applicant Tracking System (ATS) is crucial, with Ashby standing out as a preferred choice within our network. BrightHire also came highly recommended as a platform that builds hiring plans, generates interview notes and highlights and delivers talent insights.

  • Meeting Transcription & Summaries: Generate accurate meeting notes with tools like Metaview and Read AI.
  • Interview Training: Monitor talk time ratios between interviewers and canditates using tools like Evidenced and Screenloop.
  • Email outreach: Writing personalised candidate feedback and outreach emails.
  • Crafting Interview Questions: Generate challenging technical interview questions using relevant prompts on ChatGPT.
  • Copywriting: Use AI to replicate the tone of voice for teams without dedicated copywriters.
  • Niche Searches: Use AI to refine search parameters for role-specific requirements, narrowing down sectors and organisations.
  • Reporting & Data Collection: Enhance data collection and reporting capabilities with an ATS like Ashby.
  • Documentation: Utilise GitBook for maintaining accurate delivery documentation.
  • Data visualisation: Build intuitive dashboards and reporting with tools like Gem.
  • Active Sourcing: Improve sourcing efficiency with SourceWhale & Sourcebreaker.
  • Smart Scheduling: Automate interview scheduling with tools like Teamtailor. 

For more talent strategy insights, download our 2024 Technology Hiring Report. Inside you'll find talent insight covering the modern talent stack, advocating for neurodiverse employees and candidates, optimising internal mobility, and how to retain and empower your female employees. It's also complete with salary benchmarking for permanent and contract roles, across London and the North of England. Download your copy here.