13 Dec Talent Acquisition’s New Rules
Talent and skill shortages are widespread. Talent sourcing faces tremendous pressure. Technology is reshaping the workforce. Companies are embracing technologies and new innovative models to source and hire talent in a rapid-cycle fashion. To remain competitive in the race for talent companies are taking these innovative steps.
Creating a compelling employment brand for potential talent to experience what the company has to offer is being done by top companies such as Heineken, Dell, and IBM. Videos of employees highlighting the employee experience help set the company apart. Highlighting what the company works on has the potential to excite candidates such as this IBM YouTube video https://youtu.be/OTzveEx-rQw”.
Top brands like Heineken, Dell, and IBM, are creating a compelling employment brand for potential talent to experience what their company has to offer in order to attract the top talent.
The Future of Talent Acquisition is Here
Talent acquisition solutions increasingly use cognitive technologies such as artificial intelligence, machine-to-machine learning, natural language processing, predictive algorithms, and self-learning. Chatbots are becoming popular, such as Olivia, which guides candidates through the application process with sequenced questions.1 IBM’s artificial intelligence pioneer Watson is moving to a machine learning platform that ranks the priority of open requisitions and uses; social listening for an organization’s and competitors’ publicly available reviews on Glassdoor, Twitter, and news-feeds. Another tool matches candidates to jobs through a “fit score” based on career experiences and skills.
Video interviewing saves money and reduces time to hire as telecommunications industry leader Vodafone discovered. Vodafone used a video interviewing platform to cut its hire cycle from 23 days to 11 days2.
To help judge whether potential candidates will be effective in their potential new role companies are turning to confirming skills rather than checking credentials. Job simulation software can improve hiring by giving candidates tasks they would do on the job. Some companies use “military translators” to help discover veteran skills translatable to civilian skills. Veterans can enter their military job code and title and the translation software translates their skills into civilian terms to help recruiters make better job fit matches.
Conclusion
Our open talent economy, enabled by technology, allows talent to move freely from role to role. Organizations can tap into the open talent economy by partnering with temporary labor marketplace companies, freelance management systems such as OnForce and crowd-sourced recruitment systems such as Amazon’s Mechanical Turk.
Organizations that exploit the new rules of talent acquisition can win the brightest talent in the shortest amount of time. To recap companies are taking these innovative steps.
- Leverage new technologies
- Build a digital employment brand
- Create a compelling candidate experience
- Broaden and expand sourcing channels