What are the concerns that pull people in at conferences and spark debate after the slide presentations are over? People: recruiting, hiring, tending. No matter the countless predictions on how the world of work will change in 2020, people are the focal point. We will continue to face talent shortages and skills gaps, with the job market remaining as competitive as ever. The BLS reported that today’s unemployment rate is 3.5%, and that rate has decreased every year since the height of the 2008 financial crisis. Many consider the U.S. economy at full employment and we have more open jobs than we do people to fill them. The voluntary quit rate is 2.3%, the highest in 15 years. We need to give people a reason to work for us and a reason to stay.
Is technology the answer? As we continue to try and harness tech to supercharge our own capabilities, do we understand what we’re doing? We will, but it’s a work in progress: we grasped the mystery of the Cloud and are learning all about AI and automation. What’s the best strategy? Overall, I’d say it’s to keep our North Star: the who, what, when, where, why and how of creating a phenomenal workforce is all about people. That means we need to work on both candidate and employee experiences — on ways to source, hire, engage and retain. Here’s how:
Everything recruiters do needs to be accelerated and intensified. We’re going to be leaning on super-recruiters — part sourcer, part marketer and part technologist, who embrace the power of data, and use it to forge strategic decisions based on the reach of automation and the depth of analysis. According to the Harvard Business Review, an analysis of 17 studies of applicant evaluations shows that a simple equation outperforms human decisions by at least 25%. With this approach to recruiting we may be able to actually conquer bias, at least more than we have already.
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