Analytics as a Service or AaaS is just one of the bleeding edge trends we’ve been keeping our eyes on here at Talent Tech Labs. We’re on the forefront of the technology impacting Talent Acquisition and our Trends Report and Ecosystem are just the tip of the iceberg. As we vet new Talent Acquisition technologies, work with founders of new apps and platforms, and build the community here in our incubator and research space, here are some other shifts we’ve been seeing paired with some ways you can use these trends to your advantage in sourcing, selecting, engaging, and hiring new talent.
Candidate behaviors are changing the job search bringing new matching delivery methods into play.
Instead of fighting automation that can make your job 1000 times easier, try a system for your most difficult to match jobs. In essence, Beta test these ideas one department at a time.Instead of fighting automation that will make your job 1000X easier, try this:
Chances are, you’ll see a significant matching and screening burden taken off your shoulders, and for costs that are far less detrimental to your recruiting budget. Don’t believe me?
McKinsey suggests as many as 45% of the activities individuals are paid to perform can be automated by adapting currently demonstrated technologies.
In the United States, these activities represent about $2 trillion in annual wages. Although we often think of automation primarily affecting low-skill, low-wage roles, we discovered that even the highest-paid occupations in the economy, such as financial managers, physicians, and senior executives, including CEOs, have a significant amount of activity that can be automated.
Take the costs you’re currently paying recruiting administrators, sourcers, and yourself to manage this process today and compare it to the annual cost of the tool. No contest right?
Embrace the contingent workforce and learn NOW to navigate the marketplace.
Contingent work is not a fad, and it’s only growing. It’s not only the way people want to work, it’s the way companies want to employ. By focusing on focused crowdsourcing enabled by the cloud, you’ll get the right resources at the right time, which is something that has eluded both staffing and recruiting for some time. An excerpt from our recent Trends Report around the Contingent Workforce:
In response to constant disruption and fast-shifting consumer expectations, forward-thinking enterprises are reimagining their workforce. They’re investing in a workforce skilled enough to compete in global markets, and nimble enough to keep pace with constant change. And collectively, they’re investing hundreds of billions of dollars in non-traditional talent.
$300 billion to be more specific. That was the total worldwide spend on contingent labor in 2015, according to a recent Accenture report. That figure will continue to grow over the next decade, becoming a nearly trillion dollar market, as more businesses begin realizing the benefits of a flexible and specialized workforce.
Whether you decide to build your own talent marketplace or simply learn to manage the staffing firms in your personal landscape, the concept is the same. In order to ride the wave of contingent work that is certainly coming, you must embrace the marketplace!In order to ride the wave of #contingent work, you must embrace the market!
We talk about CRM a lot in this space, what’s different about the conversations we’re having today is that we’re getting so much faster. Enterprises, notoriously slow about new technology are now coming up to speed, which means for those of us outside the Fortune 1000, our competitive edge may be in jeopardy. Hurdles that used to slow us down when it came to widespread CRM adoption are rapidly being cleared by easy to implement, smart CRMs that work with systems we’re already using.
Candidates want text alerts? They’ve got em. Companies like TextRecruit and more exist to fill that very niche market. Recruiters want to emulate the inbound success they’ve seen marketers use? That’s here. Clinch for example, allows recruiters to market and build relationships with candidates. It exists and it’s as sophisticated as anything consumer and enterprise marketers have access to. If your relationship game is stale, now is the time to fix it, select a CRM that works for you and start adopting fast.
Roughly half the global population plays games, and that stat is almost four years old. It’s almost comical that games have played such a limited role in hiring before now. But 2017 will see a larger shift. Not only is the gaming population growing, we’re seeing way more diversity in terms of gender, platform and data coming out of said platforms. What this means for employers is that we have access to smart data that people frankly don’t mind giving us. We can evaluate many employers (particularly Gen Z) in a way that makes sense to them AND us. And it goes beyond simple skills tests (think the typing tests of yore).
Today’s game assessments assess psychometrics (how someone will fit in with your culture, whether they’re a good match for the work type) and skills (can they code? do they have the skills they state on the resume?) and include simulations which assess things beyond either of the first two categories like capacity for risk, empathy and much more.
Worst acronym, best possible thing for recruiters.
Really AAAS? It stands for analytics as a service and it’s going to revolutionize the recruiting space. If you take just one thing from this presentation it’s this. Open Analytics gives YOU control over your systems, and while it will be messy at first, this will change the way recruiting technologies are built and used forever. API connections and integrations are moving beyond their infancy in that they must be connected to thus and such, and instead we’re seeing seamless integration happen without the lengthy implementations and system preferences that used to be the norm. Closed marketplaces are certainly not a bad thing but open marketplaces are likely the future. And even better than that, we’ll be able to measure what was formerly in silos.Worst acronym, best possible solution for recruiters. #AAAS
Want to know more about the trends and emerging technology in Talent Acquisition? Download our Talent Acquisition Trends Report.