An Analysis of the Success of Talent Acquisition through Online Recruitment

Abstract

In today’s technologically advanced and rapidly moving world, recruiters are increasingly turning to online recruitment. Currently, many HR professionals prefer e-recruitment as their primary method for sourcing candidates. This approach utilizes numerous online platforms such as LinkedIn, Naukri, Instagram, Facebook, etc. With the advent of artificial intelligence, e-recruitment has reached a new level of sophistication.

Introduction

I. INTRODUCTION

The efficiency of Talent Acquisition through E-Recruitment encompasses four interconnected topics that are crucial for gaining enhanced clarity and comprehensive knowledge.

A. Talent Management

Talent management refers to the systematically organized strategic process of recruiting the right talent and helping them grow to their fullest potential while aligning with organizational goals. This process involves identifying talent gaps and open positions, sourcing and onboarding suitable candidates, nurturing them within the organization, developing necessary skills through future-focused training, and effectively engaging, retaining, and motivating them to achieve long-term business objectives.

B. Talent Acquisition

Talent acquisition is the strategic process used by organizations to identify, recruit, and hire individuals necessary to achieve their business objectives and optimize processes. Unlike simple recruitment to fill an immediate opening, talent acquisition is forward-thinking and strategic.

Relation Between Talent Management and Talent Acquisition: Talent acquisition is a component of the talent management process.

AI enhances the recruitment process by improving the quality of hires, attracting the right candidates, and ensuring a thorough screening process. It saves organizational resources, enhances the candidate experience, automates repetitive tasks, and accurately assesses candidates' skills for specific roles. AI-driven recruitment tools enable recruiters to make data-driven decisions, reducing biases and improving overall efficiency.

3) Use of Artificial Intelligence in E- Recruitment

AI is used in various stages of the recruitment process, including:

a Resume Screening: AI algorithms can quickly scan and evaluate resumes to identify the most qualified candidates based on predefined criteria.

b. Candidate Sourcing: AI tools can search various databases and platforms to find potential candidates who match job requirements.

c. Candidate Matching: AI can match candidates to job openings by analyzing their skills, experience, and qualifications against job descriptions.

d. Video Interview Analysis: AI-powered systems can analyze video interviews to assess candidates' responses, body language, and other non-verbal cues.

e. Predictive Analytics: AI uses data to predict candidate success and cultural fit within an organization, helping recruiters make more informed decisions.

f. Diversity and Inclusion Initiatives: AI can help identify and eliminate biases in the recruitment process, promoting diversity and inclusion.

g. Employee Retention: AI can analyze data to identify factors that contribute to employee retention and predict which candidates are likely to stay longer with the company.

h. Onboarding and Training: AI can personalize onboarding experiences and recommend training programs tailored to individual needs.

II. E-RECRUITMENT PROCESS

A.  E-Recruitment Methods or Sources

1. Company Websites/Career Portals: Many companies feature a dedicated 'Careers' section on their websites where job opportunities are posted. This serves as a centralized resource for applicants to find job descriptions, learn about company values, and read employee testimonials.
2. Job Boards and Job Search Engines: Websites such as Indeed, Monster, Glassdoor, and Simply Hired are popular platforms where employers can post job openings to reach a broad audience of job seekers.
3. Professional Networking Sites: LinkedIn is a prominent platform for job postings and candidate searches. It utilizes analytics to help match candidates with job openings, and job seekers can apply directly through the site.
4. Social Media Recruiting: Social media platforms like Facebook, Twitter, and Instagram are increasingly being used for recruitment. These platforms allow recruiters to post job openings, share insights about company culture, and use paid advertising to target specific demographics.
5. Recruitment Apps: Apps like Switch and Job operate similarly to Tinder but for job searching, allowing recruiters and candidates to swipe right if they are interested in each other.
6. Online Recruitment Agencies: Websites such as Ceipal and Talenttrack offer specialized recruitment services, including databases of candidates.

B. E-Recruitment Statistics

1. In 2018, applications submitted through job boards accounted for 20% of global job hires, second only to career sites.
2. Job boards were responsible for nearly half of global job applications during the same period.
3. According to a global survey of North American hiring decision- makers, 58% viewed social professional networks as a quality source of hires.
4. However, 57% of hiring professionals chose not to hire a candidate based on their social media content, underscoring the importance of maintaining a professional online presence.

???????C. How Social Media is Used for Recruitment

1. Top Platforms: The leading platforms for recruitment are LinkedIn (53%), Facebook (33%), YouTube (22%), Twitter (21%), and Instagram (20%).
2. Connecting with Passive Candidates: 82% of employers use social media to connect with passive candidates who are not actively seeking a job.
3. Sharing Engaging Content: 45% of companies share engaging content on social media to attract potential hires.
4. Proactive Outreach: 33% of employers reach out to candidates who have professionally presented social media profiles.
5. Focus on Mobile and Social Media: Over a third of businesses prioritize mobile and social media platforms for recruitment, targeting smartphone users.

???????D. Global Online Recruitment Market

1. The global online recruitment market is projected to reach $58.0 billion by 2032, with North America accounting for a significant market share of 43%.
2. Recruit Holdings from Japan led the global online job portal market in 2021 with a market capitalization of $79.8 billion.
3. Indeed.com is the most visited job website, while Collegerecruiter.com showed the fastest growth from January 2021 to March 2023.
4. LinkedIn remains the most popular platform, with 90% of job seekers using it for job searches.
5. Marketing is the top industry utilizing social media for recruitment.
6. Global Online Recruitment Market Size Statistics
7. The market has seen consistent growth, with revenues increasing from $32.0 billion in 2022 to a projected $58.0 billion in 2032. This growth is driven by globalization, technological advancements, and changing workforce dynamics.

III. ARTIFICIAL INTELLIGENCE (AI)

1. Artificial Intelligence: AI enables computers and machines to simulate human intelligence and solve problems. Its key characteristic is the ability to reason and take actions to achieve specific goals.
2. AI Important for E- Recruitment: AI enhances recruitment quality, attracts suitable candidates, ensures no candidate is overlooked during screening, saves organizational resources, improves the candidate experience, automates time- consuming tasks, and accurately assesses skills for specific roles.
3. Use of Artificial Intelligence in E- Recruitment: AI-powered applicant tracking systems streamline candidate sourcing and screening processes. AI algorithms analyze candidate data to efficiently identify top talent.
4. AI in Recruiting Work

AI assists in various aspects of recruiting, including:

a. Resume Screening

b. Candidate Sourcing

c. Candidate Matching

d. Video Interview Analysis

e. Predictive Analytics

f. Diversity and Inclusion Initiatives

g. Employee Retention

h. Onboarding and Training

5. AI is Transforming the World of E-Recruitment: AI is revolutionizing e-recruitment, with 43% of HR professionals already using it. Organizations recognize AI's potential to enhance recruitment efforts. The global AI market is expected to exceed $1.8 billion by 2030.

A. Top Companies Using AI for E- Recruitment

1. Amazon: Utilizes AI tools for job applicants, from identifying the right position to online assessments.
2. Unilever: Partners with skills assessment tools to streamline the recruitment process.
3. Delta Air Lines: Uses an AI- powered chatbot to handle candidate queries and provide feedback.
4. Siemens AG: Employs AI algorithms to analyze candidate profiles, resumes, and assessments.
5. Domino’s: Collaborates with pre- employment assessment firms for video interview analysis.
6. Electrolux: Uses AI for video interview analysis and job success predictions.
7. Hilton: Implements an AI-powered chatbot for candidate queries and interview scheduling.
8. Procter & Gamble (P&G): Uses a foundational AI model for various HR functions.
9. Nomad Health: Utilizes AI to connect travel clinicians to jobs nationwide.

B. AI Recruitment Statistics 2024

1. The global AI recruitment market size was $590.50 billion as of 2023.
2. The enterprise sector of AI recruitment is expected to grow at a CAGR of 6.17% between 2023 and 2030.
3. 44% of recruiters use AI to save time.
4. 35% worry that AI may exclude candidates with unique skills.
5. 35% to 45% of companies use AI recruitment.
6. 24% use AI to hire talented employees.
7. 67% of hiring decision-makers see time-saving as the main advantage of AI.
8. 58% of recruiters find AI most useful for candidate sourcing.
9. 66% of U.S. adults are hesitant to apply for jobs involving AI- assisted hiring.
10. 37% believe racial or ethnic bias is a significant issue in AI hiring.
11. 60% of organizations use AI for talent management.
12. 35.5% of small and medium businesses allocate their budget towards AI or machine learning recruitment tools.
13. 44% of HR executives use AI for recruiting and hiring.
14. 21% see the main danger of AI recruitment as overlooking typical candidate qualities
15. Leading recruiting tools tech companies plan to invest 60% in AI-powered recruiting software worldwide.

???????C. The Market Size of AI Recruitment

The Opinion of Recruiters on AI in the Hiring Process

1. 35% to 45% of companies use AI recruitment.
2. 99% of Fortune 500 companies utilize these methods, with 65% of recruiters also using them.
3. Over 73% of companies planned to invest in recruitment automation in 2023.
4. The percentage of companies investing in AI increased by 6% since 2021.
5. 24% use AI to hire talented employees.
6. 89% of HR professionals recognize AI's potential to improve the application process.
7. AI is utilized in various industries, including marketing, healthcare, education, small business, and retail/e-commerce.

D. Benefits of Using AI in Recruitment Statistics

1. Advantages of AI in Recruitment

a. Cost-Effective: Reduces labor costs related to advertising, travel, and third-party recruiter fees.

b. Quicker Process: Streamlines the hiring process by efficiently screening, filtering, and sorting candidates' data.

c. Customized Filtration: Helps recruiters find ideal candidates whose competencies match the job positions.

d. Flexible: Easy to adapt and use, providing HR managers with a smooth hiring process platform.

2. Use of Artificial Intelligence in E- Recruitment

Implementing AI-powered applicant tracking systems streamlines candidate sourcing and screening. AI algorithms analyze candidate data to identify top talents efficiently.

AI in Recruiting Work

a. 3. Resume Screening

b. Candidate Sourcing

c. Candidate Matching

d. Video Interview Analysis

e. Predictive Analytics

f. Diversity and Inclusion Initia