Taking Talent Management to the Next Level with AI

Corporate culture is one of the biggest aspects of a company’s viability and effectiveness. A company’s corporate culture is what expresses the goals of the company through its values and beliefs, and directs activities based on shared assumptions and group norms.

It is a continuous journey in finding the right people for your team. You hope that they turn out to be your best hires and top performers producing the best work. However, a lot of the time companies struggle to find these top performers and keep them.

This is the war for talent.

It refers to the ever-increasing competition between recruiters scouting for “top talents” and the highly skilled and educated workers that are ready to add to the future success of your company.

Before technology took a big leap in redefining the way companies recruit, market shares and sales figures once defined the success of a company, but now – company culture and overall satisfaction are beginning to take over.

So, simply asked – how can your company’s hiring team become successful in finding the best talents there are while making sure that they stay? …. The secret may just be in AI.

As we step into Pride month this June, it is now one of the best times to review the importance of diversity and inclusion in one’s work environment. As we begin to learn more about how a company’s culture is the core of how the team behaves and performs, and how bias is a big cause for conflict – it is time to finally implement this new knowledge into shaping your company into the ideal team that fosters inclusion, and equality. Hence why this is the time to point out exactly how you can achieve this in the best possible way.

It’s been two and a half years since Covid-19 has shifted the way in which humans operate and maneuver in their daily lives. Since Covid-19 has caused a heave of lifestyle changes, the relationship that people have towards their work-life has drastically shifted as well. From the growing cases of dissatisfying working conditions, uninspiring jobs, and bad bosses, the number of resignations has increased, and the desire to seek out a better deal from companies has grown.

Thus, “The Great Resignation” has been coined to describe the pattern of employees voluntarily leaving their employment during the pandemic. However, AI has stepped up its game as people have stepped down and is becoming the solution to bring motivation back into employees and firms that have lost the majority of their people.

There has never been a more important time to assess the future of women in the workplace, and the actions required to create a sustainable, long-term change. In honor of International Women’s Day on March 8, 2022, Retorio has joined this year’s campaign theme of #BreaktheBias in asking the world to call out biases against women within the working environment, at school, and at home. This campaign also highlights the individual and collective predispositions that society has formed against women.

In the words of Jack Welsh, ex-chairman and CEO of General Electric, “an organisation’s ability to learn, and translate that learning into action rapidly is the ultimate competitive advantage”. 

2020 sure threw a curveball at us, and the abrupt closure of workplaces meant businesses had to reevaluate their talent acquisition process and recruiting strategies as we headed into 2021. Storefronts went dark, and exisiting trends in remote work, as well as the use of artificial intelligence for talent acquisition accelerated.

As this new era of remote work changed the way our 'normal' work day looks, HR professionals needed to rethink their exisiting talent acquisition strategy in order to keep pace with the emerging trends, as the pandemic changed the paying field for recruiters.

As Covid-19 lockdown restrictions are beginning to ease in many countries around the world, economies are slowly starting to reawaken and open their doors once again.

We’ve all heard it before - you may have great looks, but that all means nothing if you don’t have a good personality. Your personality facilitates all of the important memories in your life, and is what you are truly remembered and appreciated for.

If the service has been a little slow at your local restaurant recently, don't be mad - they are just probably having a shortage of staff, as the industry is facing an unprecedented labor shortage.

Have you ever been put into a team, where everyone's personalities seemed to collide, and no one could agree with each other and come to one solid conclusion? Have you ever been with a co-worker where your personalities just didn't seem to "click", or maybe you've felt like your own personality didn't quite match the work environment and culture? Whether you've experienced it first-hand or not, having the right employee's with the correctly aligned personality traits can make or break a company's success. Unfortunately for firms, not all recruiters have the ability of reading into someone's personality as well as they'd like to. Adding artificial intelligence systems into the human recruitment process has proven to allow recruiters to gain further insight into candidates, from deeper understanding of their personality to understanding the qualities and missions that resonate with them. With the aid of machine learning, recruiters during the hiring process can succeed to gain a deeper understanding through analysing the data and ultimately help them hire the personality that fits for the role within the company.

Bias during the recruitment process has been subject to intense scrutiny for years. Companies are recognising the responsibility they have to mitigate discrimination and bias in the workforce, as well as how it affects the productivity and success of teams. As diversity and inclusion in the workplace has often been framed as a challenge that needs to be tackled by companies, hiring managers and recruiters are more and more focussing their assessments based on unbiased decision making.

The struggle of talent acquisition and retaining it has gained enormous traction in recent years. Identifying the right talent pool is crucial for any organisation - they allow companies to develop employees in areas that align with company competencies. The quality of hire and talent can essentially make the difference between a company that grows, and a company that stagnates.

Employees are the principal resource for a successful company. Full stop. Therefore it is absolutely crucial companies select the right people for their teams. From skill and value set to complementing the goals of the company culture, hiring managers build a company.

Building teams in healthcare recruiting, like any other industry, necessitates a teaming approach to ensure that prospective workers understand their responsibilities and the team's intent.

We all experience bad days at work. It may be the project overload, a colleague having a bad day, or when everything seems to be “off”. A pre-employment assessment or a fancy talent management strategy can't prevent it. Negative experiences happen.

But a toxic workplace culture is not a one-off situation; it’s more than a bad day. It’s a serious issue that undermines all processes within a company.

Retorio wurde 2018 von Dr. Christoph Hohenberger und Dr. Patrick Oehler an der TU München gegründet. Ziel des Unternehmens ist es, Jobsuchenden und Firmen mittels neuer Technologien dabei zu helfen, bessere Entscheidungen zu treffen, fairere Prozesse zu gestalten und möglichst vielen Menschen Zugang zu individualisierter und möglichst persönlicher Weiterbildung zu ermöglichen.

Um ein besseres Verständnis zu vermitteln, was Retorio ist und wie es funktioniert, haben wir die wichtigsten Fragen und Antworten zu Retorio im Folgenden zusammengefasst.

Hiring from the outside may seem like the natural step when a position opens up. It’s pretty common, after all. If you’re looking for new retention strategies for employees, you may want to consider your recruitment and hiring practice. The costs of hiring outside talent may outweigh the alternative: internal hiring. It goes beyond monetary compensation or the number of ads or sponsorship needed to seek outside hires. There are other considerations for fast-moving organizations. 

According to a working paper series by the Federal Reserve Bank of St. Louis, motherhood may be an indicator that a person may be particularly productive at the workplace. Mothers around the world will likely won’t be surprised to hear this. Between child rearing at home, leaning into their own personal development in private, being a competent team member at work, and other roles, mothers are in a constant balancing act. The St. Louis study analyzed the productivity habits of both female and male academic economists. Thus far, their conclusion: “unconditional effect of motherhood is zero”.

With the COVID-19 pandemic stopping the economic and social life of entire countries, researchers wanted to know which leaders made a difference in delivering a (more) positive outcome. From hiring, pre employment assessments, to travel, the results may affect how organizations attribute leadership in times of crisis. The University of Liverpool conducted a statistical analysis of 194 countries. Their conclusions: countries with women leaders performed better. Their countries suffered half as many COVID-related deaths.