Last week we had the pleasure of getting to spend a day with Hung Lee, of https://www.workshape.io and to get his perspective on how technology is dramatically changing how we approach HR and in particular talent acquisition (TA).
Hung LeeCEO & Founder
Domain expert with 15 years experience in the recruitment industry, Hung is an advisor on staffing to many of the top Startups in London. Led Talent Acquisition for BraveNewTalent, PeerIndex, Qriously & Thought Machine.
In particular Hung shared his insights on how technology influences user behaviour, to look at risk/opportunities that exist and most importantly how what is happening at a macro level permeates down?
So let's look at the context of how technology grows firstly ...
The internet is getting exponentially bigger
Technology compounds; as it gets adopted it gets easier to adopt the next for example, it took 15 years for street lights to be adopted, yet only 2 years for mobile phones.
You can do better on mobile now than on desktop, which has triggered the internet of things revolution. For example, at present, the average house has 10-15 devices that are connected, but with the potential of iOT it is possible for almost anything to be connected with researchers believing that by 2025 over 200 million connected devices!
So according to Hung, what are the BIG trends and what will be their impact on HR and in particular on Talent Acquisition (TA)?
1. Macro Trend 1 : Internet is getting exponentially bigger
Impact on TA : Data will overwhelm traditional TA structures. Traditional TA Structures won't work! The jobs we are hiring for in TA are not necessarily the skils we need for the future. Hung shared some
Opportunity for TA : Diversify the TA Team. We lack data skills in TA and we need to get them in our teams, fast!
2. Macro Trend 2 : Retreat to private spaces.
People are responding to the overwhelming noise in the market place and retreating into private/closed communities. For example, Podcasting sign up rates is at 33% in the USA and 18% in the UK. And 94% of CEOs say they get their information from email newsletters
Impact on TA : We have a candidate engagement crisis.
Candidates are leaving/ignoring traditional public spaces, so thats why they are not responding to recruiters/sourcers.
Opportunity for TA : Cultivate and create community. Create a crowd/space of your own!
Remember it doesn't always have to do with the content of your message - its often to do with the space your message is in!
3. Macro Trend 3 : Backlash vs Big Tech
Impact on TA : Conversation on the ethics of data collection is happening and needs to! We only have to think about 'Cambridge Analytica & GDPR' to know that privacy is top of peoples minds, and they don't trust big tech. There is more discussion than ever around data, ethics and data collection, however, there are widespread divergent positions, even amongst seasoned practitioners. Deloitte in their recent research found that 32% of CEO's rank data/ethics as having an impact on the business bottom line.
Opportunity for TA : Pivot to Inbound approach, rather than the traditional outbound approach.
4. Macro Trend 4 : Automation
Impact on TA : Automation is happening where recruiters currently spend most of their time. We need to move recruiters skills and where they are spending their time (eg scheduling, screening etc) to the higher skill sets!
The following is the current TA workload/landscape :
Hung has identified what is in RED can be automated, in YELLOW might be able to be automated and in GREEN can't be automated.
Opportunity for TA : We have to move up the value chain by focusing on activities that are not capable of being automated. We need to expand the scope of our jobs horizontally and we have to do more work 'after the hire'!
Hung shared Unlivers experience in transforming and automating their TA team :
5. Macro Trend 5 : The ‘Alternative’ Workforce
Impact on TA : Mental model of Recruiting has to change. The 'alternative' workforce is not a thing of the future .. it's here, right now! Candidate’ funnel is not fit for the workforce of future. Most of our processes and approaches are fit for the Permanent FT employee, yet that is not what we are always hiring for e.g. part-time, gig work, remote etc. In reality only 'super motivated' candidates are willing to go through the traditional FTE funnel.
Opportunity for TA : Stop recruiting only for 1 type of person ... We need a more agile approach to TA. We need to move from Talent Acquisition → Talent Access.
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