Indeed launches new AI-powered solution amidst hiring difficulties

According to new data from Indeed, 74% of UK businesses report that hiring has become more challenging over the past five years.

A survey involving 1,000 workers and 1,000 hiring professionals in the UK highlighted inefficiencies and frustrations in the hiring process, with 63% of hiring professionals desiring greater productivity and 61% feeling their time is not optimally used. To address these issues, Indeed is rolling out new AI-powered tools aimed at streamlining the hiring process for both employers and job seekers.

Ambitious hiring targets don’t align with today's sourcing challenges

With the UK hosting over 908,000 job vacancies, as per ONS figures, and 53% of businesses setting ambitious hiring goals this year, the search for talent is intensifying. However, locating suitable candidates ready for new opportunities resembles the daunting task of finding a needle in a haystack. Sixty-six percent of hiring professionals are wary of certain hiring sites, fearing the inability to discover a compatible candidate pool. Furthermore, 60% express difficulty in identifying readily available quality candidates on various platforms, contributing to 65% of professionals citing the scarcity of quality candidates as a major job frustration.

This inefficiency leads to significant time wasted on engaging with candidates who aren't the right fit. Sixty-two percent of job seekers report being approached for ill-suited roles, while 66% suggest that employers should conduct a more thorough review of skills and experiences before making contact. This contributes to a low average response rate from candidates, who only reply 40% of the time, underscoring the need for better access to the appropriate talent pool to enhance the efficiency of the hiring process.

In the last year, 32% of candidates contacted were deemed unsuitable for reasons like location, qualifications, or a disinterest in new job opportunities. Moreover, a staggering 83% of job seekers mention receiving no feedback post-application, and nearly three-quarters (72%) of hiring managers acknowledge their remorse over not responding to applicants. This lack of communication significantly dents the confidence of 41% of job seekers in securing the right job, highlighting the challenges both sides face in the recruitment landscape.

As pain points increase so does the demand for AI

Despite the clear challenges faced by hiring professionals, only 32% of hiring managers say they have incorporated AI into their hiring process. Yet, 55% agree that an AI tool that helps with administrative tasks such as candidate outreach and messaging would significantly improve their productivity.

Hiring professionals believe that the use of AI will unlock several efficiencies, with 69% saying that an AI-driven candidate sourcing tool could help speed up the hiring process while almost half (47%) believe AI will help deliver more qualified candidates. A notable 44% also say AI will help to eliminate bias in hiring.

Making hiring faster by matching and connecting people with relevant jobs

To help make hiring more efficient, Indeed has unveiled Smart Sourcing, an AI-powered product that enables employers to source an active talent pool of nearly 300 million workers globally, based on profiles and CVs shared on Indeed. Their AI-powered matching engine instantly recommends the best candidates for a job based on an individual’s skills, experiences and qualifications. Employers can then quickly review matched candidates, directly connect with them, and ultimately hire faster.

Three key advantages to Smart Sourcing make it a uniquely powerful tool:

  • Access to a large, active talent pool: Smart Sourcing recommends and prioritises qualified candidates based on an employer’s unique job requirements, focusing on people who are actively looking for a new job, especially those active on Indeed over the past 30 days. In a survey of UK employers already using Smart Sourcing, 89% say it is their preferred product for finding active candidates. 80% report that Indeed has a larger pool of active candidates than other job sites.
  • Ability to easily discover and review relevant, quality candidates: Indeed provides a list of candidates matched to employers’ needs. This includes AI-powered candidate summaries with context on why someone is a good fit for a role, speeding up the evaluation process. Candidate summaries also explain why some candidates should not be overlooked. For example, having four years of experience when the job asks for five could be a negligible difference. Then, employers can easily invite qualified candidates to apply for their roles directly from the product. And when invited, these matched candidates are 31 times more likely to apply than if they found the job on their own.
  • AI-powered connections: Employers can quickly connect with qualified candidates by generating custom AI-powered messages based on their job criteria. Smart Sourcing is saving employers time—most (74%) say it provides the most effective way to communicate with candidates, while 74% of employers report it is the fastest way to make a quality hire.

There are exciting developments for job seekers too. Through an updated toggle within Indeed Profile, job seekers will soon be able to choose to make themselves visible to employers and available for outreach. This allows them to be considered and contacted for relevant jobs, bringing more opportunities directly to them.

“The hiring process is broken and must be revolutionised so the process of matching the right candidates with the right jobs is a simple one. For job seekers, navigating the job market can be disheartening, especially when competition is high and engagement is low. Meanwhile, hiring managers face difficulties sourcing quality candidates, exacerbated by inefficient recruitment practices and the lack of effective tools for accurately matching skills and job requirements. This misalignment not only prolongs vacancy periods but also impacts productivity and morale” says Raj Mukherjee, Executive Vice President and General Manager, Employer at global matching and hiring platform Indeed. “Leveraging Indeed’s AI-powered technology will help to transform job matching and hiring, supporting job seekers and hiring managers to help the world work better. Jobseekers are 31 times more likely to apply when employers reach out through our Matched Candidates solution vs finding the job on their own through search.”

Graham Parkin, Recruitment Manager, Healthcare Homes said: “During our trial of Indeed Smart Sourcing the recruitment team have found the ease of use to be excellent. Over the course of the two months we offered 50% of the candidates contacted a position with our company and feel the new developments being made to the product will only enhance the results further. We look forward to using this in the future.”