Article: Transformation of Talent Acquisition: The road ahead

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Transformation of Talent Acquisition: The road ahead

Before using the latest tools in talent acquisition, you need to answer the question, which stage are you on? Learn about the latest tools and how to implement them correctly.
Transformation of Talent Acquisition: The road ahead

If you look at the last 10 years, technology has changed the face of talent acquisition. Technology has been aiding the candidate through the hiring process, to be very specific AI is taking over. While there are a lot of tools out there that are appealing enough, there are certain things you should take note of. Like Swapnakant Samat, Head| Policy , Processes and Digitization |Talent acquisition group, Reliance Industries, explains, in all, it is almost 250 days that you are interacting with the candidate from searching to hiring and what matters is the process. So, even before thinking about implementing artificial intelligence, you need to re-engineer the processes. 

Often times we think of it as a candidate experience that needs to be taken care but fail to consider employer & agency experiences. He says, “Artificial intelligence is just a tool that helps in making better decisions. Rather we should be looking at Augmented intelligence” 

There are three types of analytics data that every company should know of before instilling AI in their process. You need to identify which stage you are on and which stage you want to reach: 

• Descriptive: It gives us information on what has happened when analytics were applied.  

• Predictive: This gives us glimpses of the future by predicting certain data. 

• Prescriptive: This technology tells us what we should do based on the insights provided. 

Research largely tells us that most of the companies are in the descriptive phase. But it is safe to say that we cannot bias with any one form of analytics and in reality, they work best when co-existing. But it is important to understand what form of analytics data you are using to help you understand how you can implement the rest.

After identifying the stage you are in, you can use these innovative ways to use AI technology to solve talent acquisition issues and make the system more effective: 

• Data Mining to pick the right candidate: A lot of times candidates apply for jobs that are not fit for them. With data mining, you can mix and match resumes to choose the candidate for another role even if that’s what they applied for. This helps secure the right fit. 

• Chatbots for Query Management: Candidates usually have the same set of questions that can get repetitive for a person to answer. Introducing a chatbot also helps you capture data points that help you enhance your processes. 

• Capture onboarding data: A candidate decides in the first 60-90 days of joining the organization whether or not he/she will stick by the organization. This makes the initial days extremely crucial and thus digitizing the onboarding process will generate reports that will help you in employee retention. 

• Stacking talent: Often companies use AI to just look for talent outside but it is possible to reskill and find talent inside the company as well. Use AI for stacking talent both internally and externally. 

• Blockchain for recruiters: For recruiters, the second biggest problem after finding a candidate is the data that they provide. Blockchain helps bring in more clarity and verify whether or not the provided data is verified. 

• Sentiment Analysis: Today when a candidate reads a job description they can estimate whether or not they are fit for the job. So when the responses are given by candidates during interviews, do we look at the text or the emotions behind it? 

Sabeena Ladak, Head- Talent Acquisition, Aditya Birla Finance Limited, gives us the perfect analogy that helps conclude the AI debate. She says, “AI is just like the dragon scroll in the movie Kung Fu Panda.” What she means by that is, in the movie all the warriors wanted to understand what is in the dragon scroll because they believed it had some kind of limitless power. But in the end, when the dragon scroll is disclosed it was a blank piece that is symbolic of the reflection of the reader. So, it all boils down to us, how we integrate and utilize the data that is given by AI. 

 

(This article is based on a panel discussion on Transformation of Talent Acquisition: The Road Ahead at Talent Acquisition Conference 2019 by People Matters)

Topics: PMTAC, Talent Acquisition

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