HR and talent technology is evolving at a breakneck pace. Financial and resource investment in this area is also growing, as technology has created the real opportunity for HR to drive impactful business growth. While HR technology once centered around the applicant tracking system (ATS) and human resource information system (HRIS), we’ve seen it mature to include various innovative solutions that can be implemented to enhance the entire employee journey; making certain each touchpoint has technology intertwined can significantly improve both cost and time efficiencies.
In short, smart use of technology brings with it the opportunity for HR and talent leaders to gain their “seat” at the executive table.
Key Insights from Industry Leaders
This opportunity, however, demands a precise balance between traditional technologies, innovative and disruptive technologies, then relying on your most savvy people to leverage them in a way that inspires greater human interaction (i.e., relationship building, learning, listening and empowering careers) and ultimately business-impacting results. Finding this balance is indeed a challenge, but not an unconquerable one!
To shed light on solutions to the above challenges, at WilsonHCG we have performed extensive research on the area of HR technology, spoke with industry leaders and created a checklist around where to begin − encapsulating these findings in our brand-new technology-focused report, HR and Talent Technology: The Journey to Automation. Highlighting a few key takeaways from the report, we delve into the following:
1. Cognitive, Smart Technologies. One of the biggest trends that has emerged, and one that could be the most promising for talent acquisition, is cognitive and robotic technologies − such as machine learning, artificial intelligence (AI) and robotic process automation (RPA). In fact, at WilsonHCG we believe cognitive recruiting will soon be the norm within innovative talent strategies. Within the whitepaper, we shed light on how these technologies can enhance your talent strategy, as well as when and where automation may be optimal to integrate.
In fact, at one recent industry-leading event (explored within the whitepaper), talent leaders saw that AI might just have asserted its dominance in sourcing available and best-fit candidates.
2. Talent Analytics (the Why and How). We also discuss talent analytics, as many organizations are currently redesigning their people analytics teams in order to conduct real-time measuring that drives both talent and business outcomes, as well as decision making. In fact, according to Mercer’s Global Talent Trends Study 2017, 93 percent of 400+ executives plan to make a design change in their company within the next two years to stay ahead and keep the focus on their workforces. Further, according to Deloitte’s 2019 Global Human Capital Trends Report, 74 percent of companies see people analytics as a top priority for their organizations moving forward into 2020.
3. Technology Cannot Replace Strategy. No technology, no matter how sophisticated it may seem (or actually be), should ever replace talent strategies or processes; rather, they need to supplement your process. Technologies help drive efficiencies, but your people need to be at the forefront of all candidate experience, employee engagement, and workforce planning initiatives. Within the whitepaper, for example, we reveal whether industry leaders believe AI and RPA will create or replace more jobs (you might be surprised by the results).
Technology will never recreate or replace your personal efforts around candidate experience; it can aid in the satisfaction of the application process, or assist internally with the efficiency for sourcers/recruiters to complete a task. But candidate experience demands a personal relationship and rapport building between your candidate and recruiters. In the report, we reveal how to seamlessly align the two.
What Steps Can You Take Today?
Of note, we spoke with a noteworthy talent leader at the executive level, paving the way for innovative use of technology within the talent market. According to this leader, improving the candidate experience should be companies’ “No. 1 priority” right now as it pertains to integrating and optimizing the use of technology within front-end talent strategy; the cost efficiencies, not to mention the strategic benefits such as talent quality, are simply too readily achievable to be ignored. This starts with having transparent, challenging conversations.
Throughout the Journey to Automation report, we kick off and advance the conversation by exploring the current state of technology within the human capital industry, what’s available for optimizing front-end talent practices, why “people” may very well be the most important component of your technology strategy, and a step-by-step technology checklist you can leverage to enable more assured business decisions specific to hiring the right talent.
Access your complimentary copy today!