Using NLP and NLU to infer meaning, decypher sentiment and adapt to colloquialisms, whilst having a chatbot as a delivery mechanism transforms the conceptual notion of a product or service value/ of a product/service completely transforms the conceptual notion of its value.
Recruitment is changing
So,consider this. Talent acquisition managers are increasingly asking the strategic question “How is the workforce changing?”.
But not only how, but why it’s changing and at such a rapid pace?
It’s in this context that HR executives and talent teams need to start considering Recruitment 4.0 – an emerging methodology designed to help companies thrive, not just survive in a fast-changing and complex human capital marketplace.
But what is Recruitment 4.0?
Taking inspiration from the rapid shift and adoption of process automation seen in corporate enterprises, it’s a method that’s challenging executives to consider the benefits and risks of automating the recruitment process.
Recruitment 4.0 represents a new era in of talent acquisition. It’s an automation-focused approach to tackling the longstanding challenges, driven by:
- Alarmingly expensive and complex software estates
- Candidate experience underinvested
- Candidate attraction overwhelmingly misplaced and badly designed
- Lack of global alignment and standardisation for talent proceesses
- No measure specificity across the funnel and into post-hire
- Worryingly qualitative in the ‘big data’ age
- Missed opportunity because of dated technologies and their increasing redundancy
It is in this context that Recruitment 4.0 is key to overcoming these challenges - helping great teams do what they’re already doing, even better. It’s not only about productivity gains, but also recruitment effectiveness.
External factors driving Recruitment 4.0
When considering Recruitment 4.0, understanding the external factors and market context that create these challenges in the first place. Making it increasingly difficult for companies to differentiate themselves and get ahead.
- Global marketplace for talent - the internet has created a platform where companies all over the world are competing for the same qualified talent
- Increased competition - The best candidates are on average only on the market for 10 days (Linkedin)
- The importance of candidate experience - Data, personalisation, content optimisation all coming into play. With candidates expecting on-demand access to information
- Manual tasks - Talent teams can often be weighed down by the sheer amount of paperwork they have to process on a daily basis
- Employer Value proposition (EVP) - With mobile + social media on the rise, talent can very easily share their dissatisfaction with your hiring process with other potential applicants (e.g Glassdoor, Twitter etc)
Winning in Recruitment 4.0
Companies that deploy automation technologies can realise substantial performance gains and take the lead in their industries, even as their efforts contribute to increases in business productivity.
Employing recruitment 4.0 as a method for hiring success is a highly relevant and important way to evaluate how to overcome these challenges and move your team from good to great. Here are some more benefits
- Increased Revenue and lower costs
- Improved candidate and internal customer satisfaction
- Increased candidate and employee Engagement
- Reduction of risk
For recruiters, 2018 cements the ideology of the new candidate-driven market.
Talent is now digitally empowered, quality hires receive multiple job offers creating a marketplace driven by competitive salaries and growing employee benefits. If employers don't meet candidates on their terms, engage with them on-demand, they will ultimately lose them to the competitor that does.
Can AI do your job? Sure, some of it.
Can AI take away your job? Not likely.
"Don’t fear intelligent machines. Work with them."
Guess who said it?
Garry Kasparov, chess world champion who lost a tournament to Deep Blue the supercomputer in 1997.