In 2019, the traditional focuses of business units are changing across every industry at a rapid pace. But, none is more disrupted thus far than that of human resources and general people management. As technology highlights and uncovers new insights while enabling better decision making, people leaders must evolve their focuses on the trends poised to make the biggest impact in the near future. The following is a list of the top trends that will be affecting HR and why you should care.
Data insights drive talent experiences
In any business, understanding your audience is key to providing a good product or service. When competing with another organizations talent experiences the more knowledge you have about your target employee the more opportunity you have to create an experience that stands out from the crowd. Beyond general demographics and outdated success metrics, innovative leaders are aggregating data from uncommon outside sources and enriching a 360 degree view of their audience like never before. An intense focus on data with people at the core is essential to remain a player in the talent acquisition game today.
Talent Acquisition through talent experience
As the unemployment rate drops and access to new jobs becomes easier, the goal of acquiring, retaining and developing talent is becoming harder than ever before. That is why 83% of employers align on that fact and have adjusted their methodologies of hire to create first-rate candidate experiences from resume to hire and beyond. The candidate experience has now evolved into a talent experience expanding beyond the general touch points or concepts of a candidate experience and will be subpar without such an omni-channel experience.
Enabling people through AI
Once HR and people management have an understanding of who their talent is through data insights, they can use advanced technologies to personalize and contextualize each interaction at scale. Using AI has had some negative connotation over the years especially as it comes to people management and the threat of job elimination. The irony, it is actually the opposite when done correctly. AI and other advanced technologies must be implemented in a way that enables people to make better decisions, not replace them. Proactively acting or prescribing correcting actions at the right time helps organizations stand out from the competitive talent marketplace and create a desirable experience that draws top talent in.
Competitive advantage through speed
As the competition for top talent heats up, those organizations that are able to personalize the experience, fast, are winning more times than not. It is not uncommon for applicants to be going through the recruiting process with multiple organizations at once. The experience now becomes just as much about being prompt as it does being personalized. Many organizations miss out on top talent in their pipelines simply do to the fact that their offer was too late. Utilizing predictive and automation technologies to help expedite this process is a competitive advantage that innovative people managers are capitalizing upon to beat their competition to the punch.
Employee Development to reduce turnover
While HR and People managers have always been focused on the development of their employees the state of people analytics shows that they are still missing the boat. 78% of employees say they would remain longer with their employer if they saw a career path within their current organization. Companies that evolve their development strategies through analytics have the ability to retain talent and ensure the leaders of tomorrow are receiving the correct training and experience necessary to not only stay, but lead.
All in all, the HR and People Management industry is evolving through technology and data is leading the way. Organizations who understand and plan for this disruption are positioning themselves to unlock the power of data – increasing rigor, reducing bias, and improving performance. Pandera has worked hand in hand with its partners boasting over $2 Billion Dollars in annual revenue to create our People Analytics Suite. The suite provides operations and HR teams with the visibility and measurement into the life cycle of a candidate from resume, to hire, and beyond.
To learn more about this suite and see it in action, we cordially extend an invite to join our webinar on 5/22 where we will walk through the methodology behind its design and the application suite itself.
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