30 May We’re travelling at the speed of light!
The speed of change for most industries has risen exponentially and shows no signs of abating; it is pretty much unrecognisable compared to how an organisation operated 20 or even 10 years ago. The likes of technology such as cloud services and big data, have taken the industry by storm, automation functionality, social media and streaming capabilities such as Google Hangouts and so much more, has meant that workers can operate from anywhere in the world at any time of the day and quicker than ever before. Organisations are finding themselves disrupted or being the disrupters themselves.
However, one area that has been sitting on the side-lines until just recently is recruitment. This industry’s way of working has actually changed very little when you compare it to the likes of other industries. But this is changing quickly: Based on a study of public job listings among US employers, the top 20 Artificial Intelligence recruiters are spending more than $650 million annually to hire talent.
In this Blog, The Talent Group looks at why the change for HR departments has been less than other areas, and how HR departments now need to embrace the technological advances on offer. Companies looking to hire the right people, candidates looking for the right job, all need to be sourced and found using an innovative and a personalised approach.
Ignoring these changes may be at an HR Departments peril and cause a negative effect on the entire industry.
Why has HR been on the cusp?
When other industries have seen revolutionary change, HR has actually changed relatively little comparatively. No matter how good video interviewing is, there really is no substitute for a face to face interview yet. Technology will never replace humans, especially in the complex world of recruitment where everything boils down to people.
Not all employers expect, or even want their staff to have access to their emails 24/7 or to work from home, and it is this human aspect that has caused HR functions to perhaps lag when it comes to embracing technology.
A modern HR team is expected to deliver the right person for the right job and to cater for all, in a way that is inclusive. This means that often expectations are set so high for each candidate and their qualifications or experience. The pressure really is on an HR team to deliver: It is costly and often demoralising for others when you are short of team members and the time and money it takes to recruit the right person only serves to increase that pressure.
But it’s not all bleak. The technology is out there to help and it’s developing rapidly. Interest in HR tech has never been higher. According to CB Insights, there were over 350 deals and approximately $1.96B invested in HR tech start-ups in 2016 alone.
Embracing this technology and new digital platforms that are on offer will serve to improve this slower rate of change. If the changes are embraced, properly adopted and championed then growth in this industry will surely take off.
Keeping Pace with Technology
It’s gone without saying for quite some time now, that in an increasingly technological global economy, human employees and business leaders must keep pace with advancing technology. Perhaps more importantly, mid-to-late 21st century employees will need to adapt quickly to new developments, recognise potential digital disruptions before they take place, and adopt technology trends with lightning speed. Anyone who is not an early adopter need not apply for the most competitive positions. Even finding the best jobs will require using the latest technology, and those who prove to be on the bleeding edge of social media, search, communications, collaboration, and productivity tools will catch the attention of prospective employers.
What Will Employees Need and Want?
What will a business look for in an employee of the future? Millennials will make up a sizable chunk of the workforce for some time, and the generation coming behind them, generation Z, is already even more technologically tuned in.
The key to embracing this change will be about finding technology’s that are relevant to how employees, and perhaps more important people live: It means recognising these millennials, how they think, and how they are different to the generation before them in terms of their expectations, aspirations needs and requirements for a job. Many millennials are willing to forgo a larger salary for a better quality of work life or perhaps a better job title or responsibilities.
Organisations need to be prepared to meet the needs and expectations of this new generation of workers to continue to attract top talent.
So where does this leave us?
Over the last few years a plethora of modern technologies have entered the market looking to automate and optimise all parts of the process. Cutting edge data science and a progressive approach to social, big data, and machine learning to ultimately benefit the users. These advances should not be seen as threats to the HR business function but are about supporting them and making them more innovative and efficient. The recruitment process will never be fully managed by robots as people want integration with people, especially when it comes to finding the right fit with a brand. What the evolution of technology will help with, is enabling recruiters to be more human, and this can only be a positive thing.
Accountability, with targets, facts, figures and measurements are also critical and will help prove the success and worth of certain HR campaigns. LinkedIn updates and the various careers sites out there, will enable growth in the right areas and attract the right people. Having technology like an AI platform increases efficiency by 38% and increases candidate engagement by 150%
In today’s world, the critical factors for a HR business are multi-faceted and complex: They must not only embrace the modern technology on offer, but they also need to understand each company and each candidate. Evolving technology will help them to live and breathe the brands they work for; it’s culture, values and proposition. They need communicate with the right set of people so that their message is delivered and heard in our noisy world, and that is no mean feat.
If you are a company that would like to find out more about how we at The Talent Group can help you understand and develop your HR department further, or perhaps you are a candidate that is looking for a different kind of job more suited to your needs, please come and say hello, we would be delighted to talk to you.
You can also get in touch with us by calling us on 01276 408616 or emailing us directly firstname.lastname@example.org. We can also be found on Linked in, where we will keep you up to date with everything that is happening in our industry.