There's a change on the horizon in the world of work: it's not only a cultural paradigm shift, the technical know-how is changing. From AI in recruiting to creating digital infrastructure for remote working, there's a technical paradigm occurring.
The technical shift is moving from an era of industrialization---improving the performance of a machine---to a technical shift tailored towards the human; we're asking how the performance and/or well-being of a human can be augmented by a machine.
The COVID-19 pandemic triggered losses equivalent to 255 million full-time jobs and $3.7 trillion of income. Many of the jobs lost in 2020, particularly in hard-hit sectors like tourism and retail, will never return.
Hiring managers need to evaluate whether skills are suitable for a specific job. It’s incredibly important that employees possess the skills and knowledge to get things done and succeed in their position. Skill-building is one common job need: 74% of workers are willing to learn new skills or retrain in order to remain employable.
But skills aside, how do hiring managers learn that a candidate would be a great fit as a team member? There’s no crystal ball to consult. Instead hiring managers and team leaders use their intuition to figure out whether someone would be fine enough to work with. Team members that find meaning in their work and that fit well with a team generate an additional $9,078 per worker, per year.
More Than AI in Recruiting
The new shift is beyond AI. Automation is becoming quickly integrated into intelligent recruitment. With new technology, talent acquisition teams are able to identify and assess the best candidates. 80% of executives from industries like finance, insurance, manufacturing, and entertainment claim big data has been transformation for how they do business---including how they hire.
The Old Technical Paradigm
The world of work has been about data. How to collect, create, and analyze data. Every other company is setting data-centric insights into their processes. This is much-needed when navigating business decisions. Data supports insights into figuring out specific outcomes, or performance.
Firms with mature integration of big data perform better: their stock market returns are 30% higher than other companies; they’re twice as likely to be delivering high impact recruiting solutions; and their talent pipelines are more than 2.5X stronger than other organizations. Big data can impact the entire recruitment funnel: from building better candidate pipelines, expected profile need analysis, active sourcing, employee performance analysis to employee retention analysis.
Data and analytics are often leveraged to find patterns of behavior. Recruiting is a human-driven profession. Recruiters is now asking itself human-centric questions, rather than data-driven ones---now that there ample information.
The old(er) paradigm focuses on how to optimize machines, like creating better storage for video or how to make a computer chip run faster. This creates informative data.
One McKinsey report writes:
"Machines aren’t just becoming more ubiquitous, however. They are also getting smarter, which is fundamentally reshaping how people use them. Traditionally—and to a great extent today—the performance of a machine depended on the performance of its human operators, relying on them to identify problems or opportunities for improvement and to make the necessary repairs and adjustments. Now machines are increasingly able to sense their own performance and health, to act on this information themselves, and to communicate it explicitly to operators and to other machines".
Optimizing machines is a key driver in growing organizations and supporting them in reach their goals. It permits flexibility and gives them insights in allocating resources. It's become part of the status quo in the new paradigm of hiring.
Building the infrastructure is a key component in the hiring process. COVID-19 accelerated the digital infrastructure that's needed in the hiring and recruitment experience. Companies needed to utilize video and AI for analysis. Over the past few years, many businesses have found efficiencies in the process of digitalization by working with third-party softwares or digital specialists. This has been especially important in 2020. Technology companies provide he tools, engineering and expertise to enable traditional businesses to migrate into digital ones, and also support new brands in adopting a digital-first strategy. The foundations of the the digital pipelines have been set with hardware devices like beacons and satellites, now it's time for companies to ascend into the more complex "human" aspect of hiring.
The New Paradigm
Human-centric insights focuses on how to better understand a person to support their intrinsic motivations. The new paradigm of hiring focuses on how technical optimization supports human needs. Achieving a diverse workforce is becoming increasingly important for firms. Particularly in recent years, diversity and inclusion have been highlighted topics, as racial inequality and injustice came to the world centerstage. Companies are not only realising the responsibility they have, but also the value that a diverse work environment brings to them. Global firms including Coca-Cola, Oracle and JPMorgan Chase are among many that have funds to manage diversity, in hopes to create a more inclusive workforce, increase retention rates, and build long-term relationships with their employees.
Optimize user interaction shows that machines should be made easy enough to understand by humans; a person should easily gain insights when using a machine or software. 13% of customers will tell 15 or more people about their bad experiences. 72% will tell 6 or more people about good experiences. It truly counts that the experience is a great one---otherwise the technology may not be adopted.
Build software that teaches. Along with hiring and other talent management processes, employees want to learn. There's a proliferation of online education platforms, like Khan Academy to universities hosting their own online courses. Training and succession planning is one important aspect of the talent management processes. Understanding how people learn and tailoring it to their needs increases uptake by 43%. Therefore technology that personalizes is the best approach.
By integrating human behavior and needs into the development of technology hiring puts humans at the center of work rather than the tools. This creates a more human-centric working environment---not only a talent management process.
Retorio is a video-based behavioral assessment powered by AI. It uses facial expression, language, gesture, and voice to create a Big 5 Personality profile.