What will recruiting be like next year?

This week’s newsletter is brought to you by:

The Recruiting Radar is a weekly curated list of news and insights on companies that are hiring, expanding, or poised for growth. Membership is limited. Subscribe now.

In today’s edition:

  • Chart of The Week: AI is Growing Bigly
  • Podcast: The Business Cost of Censorship: How it Hurts Your Bottom Line
  • Article: Recruiting in the Year 2024
  • Comic: Explain to me what you do again…?
  • Thank You Sponsors!

Chart of The Week: AI is Growing Bigly

The global artificial intelligence (AI) market size was estimated at US$ 119.78 billion in 2022 and it is expected to hit US$ 1,591.03 billion by 2030 with a registered CAGR of 38.1% from 2022 to 2030. The North America artificial intelligence market was valued at USD 51 billion in 2021. | Source

The Business Cost of Censorship: How it Hurts Your Bottom Line

According to a recent survey, the younger the age group, the more accepting they are of censorship. This is a bad thing because I think censorship, overall, is bad for business. In this episode I discuss the pros and cons of censorship, its effects on society, and its bottomline impact on business. | Find more great content like this at http://b4m.073.mywebsitetransfer.com


Listen to The Jim Stroud Podcast on Apple Podcasts, Spotify, YouTube, Pandora and your favorite podcast platform.

This image has an empty alt attribute; its file name is image-1.png

Jobin.cloud

> Jobin is a LinkedIn automation tool. A combination ATS and CRM with ChatGPT integration. Click here to try it out now! (Totally worth a demo!!!)

What will recruiting be like next year?

This is more of a stream of consciousness ramble of things on my mind than one of my usual articles. Bear with me, hopefully there will be at least one solid point in here.

AI is everywhere and people are becoming more and more concerned. 

Ever since the Luddites of old, there has always been an aversion to progress before general acceptance. But this time, it feels different because change is happening faster than ever before. I don’t think recruiters will go the way of the switchboard operators, or blockbuster video store clerks, because recruiting is a relationship business and relationships can’t be automated. That being said, new tools powered by AI have caused some to speculate the demise of sourcing, if not recruiting. 

And with all the fear, regulation will come. It will not be quick, but it will be inevitable. The WhiteHouse is poking its toes into the water and that’s not always a good thing. In the absence of federal laws, states are stepping up with their own laws and its going to have a big impact. A few examples…

  • The Artificial Intelligence Video Interview Act in Illinois requires employers who use AI-enabled analytics in interview videos to inform applicants about the use of AI technology, explain how it works, and obtain their consent before the interview. The video must be destroyed within 30 days upon the request of the applicant, and employers must limit the distribution of the videos to only those individuals necessary to evaluate the applicant. If the employer uses AI to make a threshold determination before an in-person interview, they must track the race and ethnicity of applicants who don’t proceed to an in-person interview and those ultimately hired.
  • New York City has passed a law called the Automated Employment Decision Tools law, which will take effect on July 5, 2023. The law requires AI technology used in employment decisions to be screened and audited annually to prevent discrimination or disparate impact. This audit must be conducted by a third party and the results published on the employer’s website. Employers must notify applicants of the AI tools used and provide an alternative selection process or accommodation if available.

The world is indeed changing and recruiting will morph right along with it, but how? I have more questions than answers.

  • Recruiters can be immensely more productive when tools like Olivia, Jobin, ChatGPT, and Zapier are used in concert. But is this a double-edged sword? Once its proven that one person can multiply their efficiency by ten, will their employer start demanding ten times more work? If so, what happens to work-life balance? 
  • Will employers only hire recruiters who are experts in these type of tools? If so, what about the more experienced recruiters who are not as proficient with the tools but have higher emotional intelligence and better relationship management skills? When you compare the two, which worker is more desirable? Who tends to get more hires? 
  • Will the solopreneur “Davids” (recruiters with expertise in these new tech tools, who also have high EQ) outpace the “Goliaths” (RPOs with more money, huge overheads and larger staffs) and erode their market dominance? 

Maybe the change I see is too far from reality or, maybe its closer than I think. The question of, “How many reqs should a recruiter be able to handle?” is about to change drastically. I want to know the answer but at the same time, I don’t. Maybe its something I’ll be debating with someone long after I’m dead. 

End of my meandering. 

Explain to me what you do again…?

Free Recruiting Stuff

Cool Tools

  • Payset – With Payset you can send and receive funds both locally and internationally with your dedicated multi-currency account. Make quick and easy transfers in 34 different currencies and gain real-time access to the best international exchange rates.
  • Recognize – Recognize fosters a culture of employee recognition and all-for-one mentality. Features rewards, nominations, anniversaries, and peer recognition with enterprise configurations and security. Microsoft & HRIS integrated.

Until next time, see you in the funny papers.

Jim Stroud

P.S. May I be of assistance?

Follow me on Social Media: