The Stepstone Group Study: Artificial intelligence will significantly accelerate job search

EQS-Media / 07.09.2023 / 12:15 CET/CEST

Press Release
Study: Artificial intelligence will significantly accelerate job search

• Two thirds of HR managers expect faster application processes
• Applicants already use AI very frequently in their job search

Duesseldorf, 07 September 2023. According to recruiters, job seekers will be able to sign their next employment contract much more quickly in the future thanks to artificial intelligence. According to a recent study by The Stepstone Group, two-thirds of recruiters in Germany expect AI to relieve them of manual work and thus significantly shorten the hiring process. This is supported by the fact that applicants are also already using the technology very frequently in their job search: according to the survey, 42 per cent are willing to share personal data with online portals that use AI in the course of their application.For the study, The Stepstone Group surveyed around 3,000 employees in Germany, 19 percent of whom work in HR.

AI eliminates disruptions in the recruiting process
"AI is predestined for use in the application process," says Dr Tobias Zimmermann, labour market expert at The Stepstone Group. "Repetitive and especially manual activities often lead to delays and prevent a flowing process. AI simplifies these processes considerably. The use of this technology is already an integral part of efficient job filling in many cases today."
According to the study, more than half of the recruiters surveyed find the use of AI helpful in identifying potential candidates (64 per cent), in evaluating and ranking applicants (54 per cent) and in coordinating appointments (57 per cent).

Human contact remains irreplaceable
"Vacancies cost productivity and therefore money. So if, in the future, HR managers have their own generative assistant who takes care of matching, scheduling and important framework data, there will be more time for their actual core competence: getting to know potential new recruits at eye level. The human-to-human exchange is and remains the most important task," Tobias Zimmermann emphasises.
Accordingly, only a few recruiters (13 per cent) want a chatbot to conduct a job interview. In addition, 61 per cent of recruiters fear a lack of transparency in technology-assisted decision-making and 62 per cent fear a possible, unintentional bias of the AI. However, 39 per cent of recruiters also believe that hiring processes can be made fairer through responsible use of AI.

Applicants accept and use AI in the application process
"Applicants benefit doubly from AI: firstly, they experience much faster and more user-friendly processes. Secondly, they can access completely new resources, from the creation of CVs and cover letters to virtual trainers for interviews and negotiations," says Dr Tobias Zimmermann.
"The easier it is for people to apply, the more inspiration and feedback they receive, the more accurate they will be in deciding which jobs to apply for. In times of the great people shortage, this will help more people get into the jobs they are best suited for."
Applicants are willing to work with modern recruiting tools for a smoother process, according to the study: 42 per cent of employees do not have a problem with giving data to an AI-based platform in exchange for receiving personalised job offers, for example. Most of them even feel comfortable with it already: More than 60 per cent provide their name and respectively more than 50 per cent provide their CV, including employment and educational background, together with their contact details (multiple answers possible).

About the AI study by The Stepstone Group
We are currently experiencing the next big revolution in the labour market. And we are all part of it: artificial intelligence will fundamentally change the world of work as we know it. Automation, increased efficiency and new job opportunities are just some of the expected effects. What opportunities does AI offer the working world in Germany and how do employees view the use of AI? The Stepstone Group investigated these and other questions in an online survey. More than 3,000 people took part in the survey from mid-May to early June 2023. Of these, about 24 per cent have leadership responsibilities, while about 19 per cent work in recruiting. The results are representative of the working population in Germany.
About The Stepstone Group
The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 110 million job applications with over 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2022, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries - including Stepstone in Germany, Appcast in the USA and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs more than 4,000 people worldwide. For more information: www.thestepstonegroup.com/en/

Press Contact:
The Stepstone Group Media Relations
press@stepstone.com

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Language:

English

Company:

The Stepstone Group

Völklinger Straße 1

40219 Düsseldorf

Germany

Internet:

https://www.thestepstonegroup.com/de/

EQS News ID:

1721271

End of News

EQS Media

1721271 07.09.2023 CET/CEST