New research reveals CHROs' priorities, what's
keeping them up at night, their approach to AI and how they're
meeting employee and job seeker expectations
HOLMDEL,
N.J., May 22, 2024 /PRNewswire/ -- HR is no
stranger to change – it's the nature of its function. But that once
slow transformation of the workplace has accelerated and CHROs are
leading the way. With so much competing for their attention,
leading talent acquisition (TA) technology provider iCIMS surveyed
thousands of CHROs to understand their evolving role as a strategic
leader, how they're paving a path forward in a dynamic market
littered with obstacles, and why they're securing a seat at the
head of the C-suite table. The iCIMS CHRO Report also examines job
seeker sentiment, comparing how their expectations align – or clash
– with employers' business goals.
In the midst of seismic shifts, CHROs are
poised to be strategic partners, helping the C-suite navigate the
road ahead.
"We're in the midst of a seismic shift, and CHROs are poised to
be the strategic partner to help the C-suite navigate the road
ahead," said Laura Coccaro, chief
people officer at iCIMS. "This report is chock-full of data and
advice to help CHROs fulfill the demands of fellow leaders, while
meeting the needs of their workforce. The insights within can serve
as a helpful guide to tap into the minds of today's CHRO so TA and
HR teams can form a strong partnership with their business and
achieve strategic business goals."
Key findings from today's U.S.-based CHROs and
workers:
- Talent acquisition rises to the forefront. More than
half of CHROs (56%) are spending more time in their role on TA
today than they did two years ago. With the recent ebbs and flows
of hiring needs and candidate expectations, increased emphasis on
talent acquisition may come as no surprise. The large majority
(90%) even see the role of the recruiter morphing into a strategic
talent advisor to the business.
- TA priorities are (seemingly) endless. Their top TA
priorities for the next 12 months are to improve analytics and
reporting, enhance employer brand, improve diversity of talent
pools and hires and increase recruiter efficiency. Meanwhile,
employees wish they prioritized flexible work arrangements,
employee retention, preventing staff shortages and skills-based
training and development more.
- AI is not just a phase. 65% of CHROs plan to implement
AI into recruiting processes, with 40% planning to do so in the
next 12 months. An additional 29% are already using AI in
recruiting. One area for improvement is communicating the benefits
of AI adoption internally, as 60% of employees surveyed are unsure
how critical AI will be in their job over the next year.
- What keeps them up at night? A lot. The top challenges
keeping CHROs up at night include changes in compliance and
regulatory laws, lack of/reduced budgets and hiring swings and
fluctuations. They're also worried about integrating AI into TA and
HR processes, the lack of qualified candidates in their talent
pipelines, retaining top performers, regretted attrition, economic
uncertainty, and the list goes on.
- Retention is the new recruiting. HR leaders are leaning
into their employee talent pool, with 86% confirming internal
mobility is a priority for their organization this year. More than
one third (37%) say they are investing in new tech to support
internal mobility initiatives. Employees are on the same page, with
77% open to finding new jobs with their current employers. The
iCIMS platform – based on more than 5.5 million hires and 200
million applications annually – is showing similar trends, with an
18% jump in internal applications and 11% jump in internal hires,
compared to this time last year.
- Money on the mind: More than 40% of employees claim
they would not apply to a job that does not include a salary range.
Yet, when asked if CHROs knew — without looking at
their career sites — whether all job descriptions included
a salary range, 44% claim that their job descriptions
do include a salary range but only for roles based
in states where it is mandated. Only 37% of CHROs
claim that all job postings on their organization's career site
include a salary range.
- A focus on the bottom line for the board room. CHROs are
consistently looking for new ways to measure business impact and
deliver more value to their organization. Diversity, equity and
inclusion metrics are the top KPIs they report up to the CEO and
board. When looking at TA metrics specifically, they report their
team's diversity application and hire metrics, offer acceptance
rate, applicants per opening, recruiter productivity and
application conversion rate, to name a few.
"The iCIMS CHRO study clearly shows how the whole concept of
'talent acquisition' has changed," said Josh Bersin, global industry analyst and CEO of
The Josh Bersin Company. "Today, companies want to redesign 'talent
acquisition' as a growth function, not a staffing
function, and bring together AI-powered solutions for internal
mobility, development, org redesign and recruitment. This is our
Systemic HR model coming into reality, validated by the needs of
1,000+ CHROs and their companies."
The iCIMS CHRO Report is now available for download, featuring
insights from industry analysts and leaders from Enterprise
Mobility, HireRight, Gainsight, Workato and AssuredPartners, as
well as top trends across the U.S., U.K. and France.
About iCIMS, Inc.
iCIMS is a leading provider of talent acquisition technology that
enables organizations everywhere to build winning workforces. For
over 20 years, iCIMS has been at the forefront of talent
acquisition transformation. iCIMS empowers thousands of
organizations worldwide with the right tools to meet their evolving
needs across the talent journey and drive business success. Its
AI-powered hiring platform is designed to improve efficiency, cut
recruiting costs and build exceptional experiences for candidates
and recruiters. For more information, visit www.icims.com.
Contact:
Carlee Capawana
Director of Communications
Carlee.capawana@icims.com
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SOURCE iCIMS, Inc.