How we Hire 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 HR 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 HR 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.
HR 4.0 represents a new era in 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 processes
- 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
In this context, HR 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 HR 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.
- The global marketplace for talent – the internet has created a platform where companies worldwide 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. daily
- 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 with HR 4.0
Companies that deploy automation technologies can realise substantial performance gains and take the lead in their industries, even as their efforts increase business productivity.
Employing HR 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