It’s a taxing process to evaluate all of the talent technology on the market and determine their role in the larger talent landscape and your tech stack. That’s why we do what we do — evaluate the current talent technology market and the technologies that can help you along the way.
During our process, we’ve looked closely at some of the top emerging talent technology trends that people need to keep an eye on as we continue to move in our ever-evolving talent technology landscape. Keep reading to see the latest in DE&I recruiting and talent intelligence trends.Take a closer look at some of the top emerging #TalentTechnology trends people need to keep an eye on as we continue to move in our ever-evolving talent technology landscape Click To Tweet
Trends in DE&I Recruiting
Unless you’ve been under a rock for the last few decades, you probably know the importance of implementing diversity, equity, and inclusion in your organization. After all, highly inclusive companies are more likely to hit their financial target goals by up to 120%.
But, implementing these practices isn’t just about the boost it will give your employer branding or how good it will look on your social profiles; it’s about an authentic inclusion of people with different backgrounds and ideologies.
Is it a People Problem?
Unfortunately, there is no single vendor that is going to solve all of your diversity hiring woes. Despite what many talent leaders are hoping, there is simply no silver bullet guaranteed to help boost diversity hiring. Something to remember is that a lack of diversity is not just a tech problem; it often reflects a people or culture problem.
While it’s easy to accuse artificial intelligence or other technology of preventing organizations from reaching their diversity hiring goals, this blame is misplaced. Instead, talent leaders need to assess their current processes and culture to see if their organization welcomes diversity and allows different perspectives to flourish.
Only the Beginning
While DE&I has skyrocketed in popularity and visibility in the working world, many would be surprised to find out many organizations are still only in the discovery phase of implementing DE&I initiatives. This means they are just beginning to analyze what is going on in their businesses and how they could begin to look at creating new inclusive practices.
We see a lot of interest among organizations in expanding their diversity, equity, and inclusion initiatives. This is a big win for organizations and their people, but it does little to nothing without executive buy-in and actionable steps.
Right now, most organizations are just looking into what potential offerings or initiatives they could implement and are seeking help in their journeys. This isn’t uncommon. DE&I is a tricky path to traverse when you are first starting out. For now, businesses are largely trying to get a handle on this space and how they can most effectively utilize it for growth and their culture. However, Talent Tech Labs has studied the technologies and is uniquely positioned to help!
What is Talent Intelligence?
Put simply, talent intelligence is the use of candidate data and artificial intelligence to ultimately make data more meaningful and useful.
The combination of data and AI provides a unique and valuable perspective — informing talent strategies and allowing talent leaders to become more tactical and strategic in their hiring decisions.
Candidate data is, frankly, everywhere. But there are two specific categories worthy of analysis. The first is internal candidate data; this would include human resource technology or talent acquisition systems that store information about candidates. External candidate data, however, can be found anywhere labor market data is stored: think job boards and professional social media platforms.#TalentIntelligence is the use of candidate data and #ArtificialIntelligence to ultimately make data more meaningful and useful. Learn more about it and other emerging #TalentTechnology trends: Click To Tweet
Talent Intelligence Use Cases
Here are some examples of when you would want to employ the use of talent intelligence:
- Should we hire a candidate externally or try to reskill and promote them internally?
- Who is the best candidate out of hundreds (or thousands) of applicants for a given role?
- Which passive candidates are most likely to respond to our recruitment marketing?
- Where should we open a new office?
- Which internal employees are likely a high flight risk?
But why the recent surge of interest in talent intelligence?
Looking at the current market, the answers are pretty simple. There are an increasing number of requirements and capabilities in the skills landscape, meaning organizations have to become more nimble to keep up with the changes.
Plus, we’re in an extremely tight labor market, leading to a rising hiring velocity. We’d be remiss to ignore the impact of aggregated data across many different systems, which adds urgency to the case for talent intelligence.
The simple answer is that technologies are finally developing to a place that can change the way we do things; it is the perfect time to assess your current procedures and seek the clarity a new tool could provide.
Our recent findings have shed light on some incoming trends we anticipate will be the industry’s talk in the near future. While these are things already on many experts’ radars, where it’s going is a whole other story.
After looking at the newest talent technology trends regarding DE&I hiring and talent intelligence, we are a bit more informed about what is coming down the pike.
For more information about how TTL can advise you on which tools and technologies will work best for you, reach out to us today.