People often typecast recruitment and hiring processes as though it’s unoriginal or redundant, a grind, but also an inevitable part of joining and expanding the workforce. In reality, these routines and approaches constantly change as a direct result of other factors like technology advancements or the changing talent pool.
To develop a strong talent acquisition strategy and implement it there’s a lot of strategy involved. Millennials versus baby boomers require different approaches and find appeal in different incentives. It may seem obvious, but as a result, hiring departments need to evolve with these ever-changing trends.
Whereas before a company where minorities were equally represented was an outlier or a goal to strive for. Now it’s the new accepted norm. People want to work for socially conscious and accepting corporations. As a result, hiring puts diversity at the top of the list in order to attract more top talent.
As Maria Ignatova and Kate Reilly explain, “Diversity is directly tied to company culture and financial performance. Our data shows that 78% of companies prioritize diversity to improve culture and 62% do so to boost financial performance.” While my team consisting of six women and one man still appears a bit unconventional, recruitment, in general, is trending toward more diversification, because it’s proven to result in a stronger workforce, which always remains the ultimate goal in our industry.
While Sophia the robot’s citizenship shocked the world last year, the direct correlation between AI and hiring may not yield as much shock value. Rather than seeing Artificial Intelligence as a means to eliminate jobs, in reality, it’s a way to streamline and increase productivity. Talent acquisition teams should start considering how they can harness the popularity in AI to incentivize positions. As Aaron Hardy and Rebecca Skilbeck highlight, “Gartner predicts that by 2030, 50% of high-performing employees will regularly and seamlessly redistribute workloads across personalized portfolios of talent bots.” Adobe expressed interest in the broad implementation of AI in their offices and others continue to discuss training options for employees to better understand and incorporate this new tech into their routines.
Companies have access to a wealth of data based on their business, clients, and employees, but without implementing an organization system like analytics software to make sense of it, you aren’t harnessing the full potential. Data doesn’t just help hiring efforts, but also employee retention programs. Through surveying, we can better understand what factors influence and ultimately decide whether an employee stays or leaves. As Aman Brar says, “A study from IBM and MIT found that organizations that made high investments in HR analytics experienced 8 percent higher sales growth and 58 percent higher sales per employee.” In summary, investing in data analytics pays off.