The 2024 Hiring Insights Report: Retail Edition by GoodTime highlights the retail sector’s strategic use of AI and automation to enhance hiring efficiency and candidate experience in a competitive market.

San Francisco – April 4, 2024

Today, GoodTime released its 2024 Hiring Insights Report: Retail Edition, providing an in-depth look at how retail talent acquisition (TA) teams leveraged technology to navigate hiring challenges.

Despite a competitive landscape and evolving work models, retail businesses achieved a 23% lift in hiring goal attainment in 2023. The report, sourced from 105 HR and TA professionals in the sector, illustrates a shift towards technology to streamline hiring processes and improve the overall candidate experience.

Key findings from the report:

  • 99% of retail TA teams have integrated automation or AI into their hiring processes.
  • Retail hiring goal attainment jumped up to 57.7% in 2023 (versus 46.8% the year prior), ranking among the highest of all sectors.
  • Major challenges include talent retention, adapting to hybrid work models, and managing compensation expectations.
  • 91% of retail TA leaders plan to increase investment in hiring technology in 2024.

Retail’s strategic response:

Facing a shortage of workers and struggles with talent retention, the sector’s TA leaders have:

  • Enhanced use of AI for tasks like application screening and interview scheduling.
  • Focused efforts on improving candidate experiences and streamlining interview processes.
  • Standardized hiring processes to ensure efficiency and fairness.

“In retail, where companies need to hire quality workers at a high volume, adapting processes is not just a necessity but an art,” said Ahryun Moon, CEO & Co-Founder of GoodTime. “This year’s report illuminates how a sector deeply impacted by shifting consumer behaviors and the digital revolution is ingeniously harnessing AI and automation. These tools are not only being used to accelerate the pace of hiring, but also to refine the art of identifying and nurturing talent that meets the needs of today’s fast-paced, customer-centric world.”

To download the full report, visit goodtime.io.

About GoodTime

GoodTime helps talent acquisition teams hire up to 50% faster by automating interview scheduling, candidate communications, and more. Hundreds of the world’s leading companies including Slack, Sony Interactive Entertainment, Lyft, Shopify, and HubSpot trust GoodTime to accelerate their hiring process while maintaining a best-in-class candidate experience.

With advanced features like multi-day and panel interview scheduling, SMS and WhatsApp communication, workflow automation, intelligent interviewer selection, and powerful data and benchmarking reports, we’re helping enterprise companies cut their time-to-hire in half.

Learn more at goodtime.io.

Media Contact

For more information or to arrange an interview with Ahryun Moon, please contact:

Jake Link

press@goodtime.io

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About the Author

Jake Link

Jake Link is a business process automation expert and Director of Content for GoodTime. He draws on over 10 years of experience in research and writing to create best-in-class resources for recruitment professionals. Since 2018, Jake's focus has been on helping businesses leverage the right mix of expert advice, process optimization, and technology to hit their goals. He is particularly knowledgeable about the use of automation and AI in enterprise talent acquisition. He regularly engages with top-tier recruitment professionals, distilling the latest trends and crafting actionable advice for TA leaders. He has advised companies in the tech, legal, healthcare, biosciences, manufacturing, and professional services sectors. Outside of work, you can find Jake exploring the coastline of Massachusetts' North Shore with his dog, Charlie.