How AI Is Revolutionizing Staffing: Insights from Staffing World 2024

In today's competitive hiring landscape, staffing agencies are under immense pressure to deliver quality candidates faster and at lower costs. Artificial intelligence (AI) is playing a transformative role in helping these agencies achieve those goals.

In a recent workshop at this year's Staffing World, Veritone Hire and LSI Staffing demonstrated how AI is revolutionizing the staffing industry through programmatic job advertising and AI-driven candidate sourcing.

In this workshop, Veritone Hire and LSI offered the audience a clear understanding of how AI can optimize their recruitment strategies and improve overall staffing operations. Highlights of the workshop included:

• Benefits of AI in Programmatic Job Advertising:How AI-driven solutions enhance recruitment efficiency, minimize bias, and drive cost savings.
• Real-World AI Applications:How AI is automating key staffing functions such as candidate sourcing, predictive analytics, and candidate matching with tools that streamline the hiring process and lead to better applicant quality and retention.
• Implementation Considerations: The challenges of integrating AI into staffing workflows, regardless of agency size, and how to evaluate AI partners and ensure seamless integration.
• Best Practices for Success:How to successfully adopt AI technologies, including how to choose the right programmatic advertising partner and ensure these tools are aligned with your agency's needs.

Curious about how Veritone Hire's solutions can make a difference for your agency? Learn how LSI saw incredible results with Veritone Programmatic.

Case Study: LSI Staffing's AI-driven transformation

LSI Staffing, a leading staffing agency with over 30 locations nationwide, turned to Veritone Hire to solve a problem many staffing agencies face: skyrocketing job board spend and inefficient candidate targeting.

The Problem: Escalating costs and inefficient processes

Founded by brothers Ron and Rick King in 1986, LSI has always focused on matching talent with opportunity. However, during the COVID-19 pandemic, they ramped up job board spending to meet rising demand for candidates. After the pandemic, they found themselves juggling multiple job board accounts across 40 offices, leading to significant overspending and operational inefficiencies.

In 2022, LSI spent $1.3M on job boards but had no unified way to track candidate data or optimize their spend. With fragmented systems and a lack of visibility into which channels were performing, it became clear that continuing down this path wasn't sustainable.

The Solution: AI-powered efficiency with Veritone Hire

In 2023, LSI partnered with Veritone Hire to implement an AI-powered programmatic job advertising solution. With Veritone Hire, LSI centralized job board management, allowing for a more streamlined approach to job ad spending and candidate data collection. The results were remarkable:

• By the end of the first year, LSI reduced their job board spend by 26%, surpassing their initial goal of 20%.
• By 2024, they are on track to achieve a 62% reduction in job board costs.
• LSI also saw a 24% reduction in cost per applicant and a 19% increase in the click-to-apply rate.

The Unexpected Benefit: A growing talent database

One of the standout benefits of using Veritone Hire was LSI's ability to build a centralized, growing database of qualified candidates-a 157% increase in their applicant pool. Not only did this streamline their hiring process, but it also allowed t no hem to retarget past applicants, reduce spam, and improve overall candidate targeting.

As LSI's Corporate Systems Manager Tiffany Stout explained, "The speed at which our database is growing is really my favorite part of Veritone, and it's not the thing we came to them for. With a stronger, centralized, and growing database, we've been able to improve our candidate delivery, something that we could not have done before."

Key Takeaways for Staffing Agencies

From reducing overspending to improving candidate delivery, AI solutions like Veritone Hire can drive significant improvements in both efficiency and outcomes. For staffing agencies looking to optimize their recruitment strategies, selecting the right AI partner and integrating AI technologies into existing workflows is essential.

Don't miss the opportunity to learn more about how AI can benefit your staffing agency.

See the LSI Case Study or schedule a demo with a Veritone Hire experttoday.

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