That generative artificial intelligence (GenAI) is capable of significantly altering workforce dynamics cannot be denied. After all, such transformation will lead to the reshaping of talent management and impact businesses. Not surprisingly, organisations worldwide are relooking at their hiring strategies. What do Indian employers feel?
The Employment Outlook Report by TeamLease for the first half of FY2024-25, reveals that 35 per cent of organisations surveyed across 23 industries report a substantial change in their approaches to talent acquisition, as they endeavour to integrate advanced AI technologies such as GenAI. Clearly, GenAI is leading to significant shifts in the types of skills and roles being sought.
Of the more than 1,400 employers surveyed, one-fourth, that is, 25 per cent expect moderate changes. That means, while GenAI is impacting their hiring strategies, it may not result in radical changes in their existing hiring plans. This could probably be because they are likely to integrate new roles or skill requirements with those already existing in their organisations.
Another 20 per cent of employers foresee minimal changes. This indicates that they do not perceive GenAI as any different from the other several factors that affect their talent approaches or hiring plans. It could also mean that these employers feel their existing strategy is equipped and suited to incorporate tech advancements, including GenAI.
There are also 20 per cent organisations/employers that do not expect any changes in their hiring plans or strategies due to AI. This opinion may be attributed to the fact that they believe their industry is less affected by the advancements in GenAI. In all probability, they are geared to take on these changes or embrace advanced technologies gradually.
While 23 per cent organisations have fully-integrated GenAI into their hiring process and even enjoyed better results, 14 per cent were using GenAI for specific tasks such as screening or scheduling, and were happy with the outcome. A good 43 per cent organisations admitted to having tried GenAI but had encountered issues forcing them to reconsider its use.
Twenty per cent are actively exploring GenAI for hiring, but haven’t used it yet. They are still in the process of exploring its potential for hiring but are opting to be cautious.
However, 37 per cent of those who have adopted GenAI, report positive outcomes, with 14 per cent applying it to specific tasks such as screening or scheduling and almost 23 per cent fully integrating it into their hiring process. That means, they have met with success by applying it in specific areas. It won’t be long before others get inspired and follow suit.