Ceridian 2021 Future of Work Report: AI Fueling Talent Acquisition as War for Talent Heats Up Post-Pandemic

Rhea-AI Summary

Ceridian (NYSE: CDAY) released its Future of Work report, revealing key insights from 2,000 global executives. 53% plan to increase team size in the next year, with 56% citing demand for services as their rationale. 71% intend to hire more remote employees, and 62% foresee gig workers replacing full-time roles within five years. Additionally, 46% are set to adopt AI tools for recruiting, enhancing efficiency and fairness in talent decisions.

Positive

• 53% of executives plan to increase team size within the next year.
• 71% of executives intend to hire more remote employees in the next two years.
• 46% of executives are planning to use AI tools for recruiting and talent management.

Negative

• 62% of executives agree gig workers will substantially replace full-time employees within five years, indicating potential job insecurity.

• Latest research shows majority of executives globally intend to expand the size of their teams, with 56% of their total workforce utilizing remote or hybrid work
• Majority believe gig workers will substantially replace full-time employees within the next 5 years
• AI will play a big role in shaping their workforce, with 46% planning to use AI tools for recruiting and talent management
  

TORONTO and MINNEAPOLIS, July 19, 2021 (GLOBE NEWSWIRE) -- Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today released results from its latest Future of Work report, which examines the strategies and priorities shaping the future of work among executives globally.

The report revealed:

• The majority (53%) of executives say they will increase the size of their team within the organization in the next 12 months, with 35% leveraging gig workers to do so. One of the main drivers for increasing team size is the need to respond to demand for services (56%).
• Looking ahead, 71% agree they will hire more remote employees in the next two years, with 63% agreeing that they will hire outside of their country.
• As the gig economy model goes mainstream, the majority (62%) agree that freelance or gig workers will substantially replace full-time employees within the next 5 years.
  

“As the competition for talent heats up, employers will need to come to terms with the fact that the power dynamic has shifted in favor of the employee, and the idea of employer exclusivity is quickly becoming a relic of the past,” said Steve Knox, Vice President of Global Talent Acquisition, Ceridian. “One trend we’re seeing is that talent – even those working as salaried, full-time employees – is beginning to embrace the tenets of the gig economy, seeking roles for shorter periods of time with multiple organizations. We believe this approach to work life will become the norm, and the data shows that employers are already beginning to adjust their recruitment and talent management strategies accordingly.”

The findings also showed how the post-pandemic workplace may be configured, with many executives maintaining hybrid and remote work arrangements. Executives said 27% of their workforce will utilize remote work post-pandemic, while nearly one-third (29%) of their workforce will utilize a hybrid model, alternating between remote and a physical location. Meanwhile, only 38% of their workforce will utilize a physical location.

AI driving rapid reinvention of recruitment strategies
As employers ramp up efforts to replenish the ranks in response to rising demand, many are embracing the latest technology to enhance the recruiting processes, including screening, shortlisting, and identifying top candidates. In fact, 46% of executives plan on using AI tools for recruiting and talent management, while another 42% are already doing so.

“AI has become a very powerful tool for recruiters globally, as it allows employers to make more accurate, efficient, and fair talent decisions, which is especially important now given that competition for talent and the need to make quick hiring decisions has never been higher,” added Knox.

Recently, Ceridian reinforced its commitment to AI-enabled talent recruitment strategies through its acquisition of Ideal, a leading talent intelligence software provider based in Toronto, Ontario. Ceridian’s customers can access data-backed insights to make smart, fair, and efficient talent decision-making and improve equity throughout their entire organization.

To download the Ceridian 2021 Future of Work report, click here.

Ceridian’s Future of Work report was conducted by Hanover Research between April 26 and May 17, and surveyed 2,000 senior leaders globally at the managing director level or higher. At a 95% confidence level, the Margin of Error (MoE) is ±2.08%.

About Ceridian
Ceridian. Makes Work Life Better™
Ceridian is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.

Media Contact:
Matthew Duffin
Matthew.duffin@ceridian.com
647.248.0752

FAQ

What insights did Ceridian's Future of Work report reveal about workforce trends?

The report showed that 53% of executives plan to increase team size, with 62% believing gig workers will replace full-time employees in five years.

How many executives intend to hire remote employees according to Ceridian's report?

71% of executives intend to hire more remote employees in the next two years.

What role does AI play in Ceridian's Future of Work report?

46% of executives plan to use AI tools for recruiting and talent management, enhancing efficiency and accuracy.

What percentage of executives foresee an increase in gig workers in the workforce?

62% of executives agree that gig workers will substantially replace full-time employees within five years.

When was Ceridian's Future of Work report conducted and how many executives were surveyed?

The report was conducted between April 26 and May 17, surveying 2,000 senior leaders globally.