In the first part of our 3-part report, we looked at how talent intelligence tools helped to support and enhance your existing talent acquisition technologies. Then, we dove into the specific drivers and best use cases for implementing a Talent Intelligence platform. Today, in the final part of our 3-part series, we’ll shift our focus to the future, as we look at the new operating models and trends that Talent Intelligence is influencing in the workplace.
A Shift Towards Focusing On Hiring Criteria
Talent intelligence platforms bring a surprising and welcome shift to how hiring managers work with recruiters. In the old model, a recruiter would bring a slate of candidates to a hiring manager. The manager would then compare one candidate to another and seek to identify the best ones.
This is such a familiar process that it’s hard to imagine a different method. However, with talent intelligence platforms, things work differently. The recruiter sits down with the hiring manager to set the criteria for the role. Then the platform goes through the extensive database of internal and external candidates and provides a curated list. If the hiring manager isn’t happy with the list, they work with the recruiter to adjust the criteria.@TalentTechLabs says that #TalentIntelligence Platforms are helping #recruiters to hire a stronger, more skilled workforce: Click To Tweet
An advantage to this new approach is that it avoids the situation where a hiring manager is unhappy with the candidate list, blames the recruiter, and asks them to go back and get a different set of candidates. If the hiring manager doesn’t like the candidate list, they can work with the recruiter to adjust the criteria. No more will recruiters be faced with trying to convince a manager that the criteria are unreasonable. The platform can quickly show the hiring manager just what talent is available. This shift enables recruiters to become Talent Advisors instead of mere resume curators, helping hiring managers understand market dynamics, skills requirements, and availability, and collaboratively come to a successful outcome.
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Diversity is a hot-button issue in HR and needs to be addressed early in any proposed talent intelligence project. It’s important to note that diversity hiring is a big topic; there are no technological “silver bullets,” and many organizations looking to increase the diversity of their candidate pools and new hires are taking a multi-pronged approach that includes both technology and process change.
That said, Talent Intelligence platforms have been leveraged to support diversity initiatives in a couple of key ways. The first is by increasing visibility into diverse candidates and the diversity of the available applicant pool. These platforms can infer and report on various diversity metrics (such as gender and ethnicity, for example, of both internal and external talent pools), enabling leaders to understand the diversity of their current employee population and candidate pool and develop strategies for improving it.
Second, these platforms can be leveraged to hide various candidate characteristics in the application process, essentially enforcing a blind hiring process. This can help remove unconscious bias and ensure that candidates are assessed solely on their ability to succeed in the role.See how #TalentIntelligence is changing the game when it comes to recruiting for #diversity on @TalentTechLabs latest blog: Click To Tweet
Finally, while there is an element of risk in using AI to make talent-related decisions (as systems are trained on historical data, which may in itself perpetuate historic biases), generally a systematic approach to assessment results in a fairer process than one in which each individual recruiter uses their own experience to assess candidates. Assessment approaches used by the algorithm should be examined and audited. In our view, the best approach is using technology to help surface insights and enable better human decision-making.
While AI-based recruiting solutions look like they are from the future, they already provide real-world value to many organizations today. Currently, client adoption is relatively low (e.g., according to TTL’s 2020 Pulse Survey, Matching Systems, a component of Talent Intelligence, had just 11% client adoption), and solutions are fragmented.
Talent Intelligence platforms have risen out of a marriage of Matching Systems, Labor Market Intelligence (LMI) tools, and Social Search capabilities. We expect that in the next three to five years, most organizations will come to rely on such technology as an integral part of their hiring process and strategy. Many firms will opt to leverage the technology so that it becomes the “backend” of their existing system of record and associated technology stack, essentially becoming a “brain” that powers an intelligent recruiting function.
Most importantly, we expect these tools to enable new sourcing strategies, potentially replacing some proportion of job ad spend in much the same way that job boards themselves replaced spending on print media and classifieds.
Talent Intelligence is shaping up to be a key factor in achieving your hiring and recruitment goals. Helping to amplify your Talent Acquisition strategies, these tools can help you to build out an approach to recruitment that saves you time, saves you money, and improves the quality of candidates you recruit. To stay updated on the latest trends and information regarding TA software, be sure to join our membership portal.
Want to find out more about Talent Intelligence and how it can benefit your TA strategies? Download our full report, A Practical Guide To Implementing A Talent Intelligence Program.