New-Age Tech Trends Affecting Talent Acquisition and Workforce Planning in 2023
New-age technology will revolutionize workforce planning and talent management. There is a focus on making hiring easier and more convenient for job seekers and employers.
- The usage of AI will become decisive beyond 2023, while RPA will enhance the performance of AI,
- The convergence of IT and software makes the role transition smoother, and
- Metaverse is enabling corporates to become equitable and inclusive.
AI/ML will speed up the candidate identification process, while a more data-driven approach will eliminate recruiters' gut-and-instinct hiring approach.
In today’s world of knowledge, productivity is key to success. 71% of business executives agree that retaining and engaging employees is key to company success.
Emerging technologies are re-imagining people management, talent management, employee engagement, and performance management.
Due to the below trends, workforce planning and talent acquisition experts have exciting years ahead.
Artificial Intelligence (AI) in Talent Management is decisive
Personalization, predictive maintenance, cognitive analytics, chatbots, and digital assistants all use AI. Andrew NG considers AI systems as providing two sources of knowledge.
- AI will rely on large datasets when we have more data.
- When there’s little data, you must rely on human knowledge to develop datasets.
Many organizations lack enough data to gain the desired insights. This data unavailability makes it hard to automate financial or legal advice.
Talent management must create a data annotation center of excellence to boost company intelligence. You could ask the data annotation team to label each BU unit’s success or failure in historical performance reviews.
Later, assign them to label employee support chatbot inputs. This will become a valuable intellectual property for each company.
Robotic Process Automation (RPA) is enhancing AI
RPA is undergoing a quiet revolution, and labor market strategists should include it in their workforce models. RPA can be the logic layer that contextualizes what your end customer needs to do.
Technology is vital for workforce planning. Imagine using a chatbot for talent acquisition. RPA can stage the correct forms for onboarding and do all the business logic work, while the chatbot uses NLP to interact with candidates.
Rapid convergence between IT and software is occurring
Post-cloud migrations, there is more synergy between IT and software development. It is observed that mid-career IT engineers are becoming software engineers. This transition impacts workforce planners’ and recruiters’ pipeline opportunities.
Metaverse is establishing an equitable enterprise
Metaverse expands talent boundaries. In hybrid work, remote workers’ locations will become the corporate headquarters’ digital twin, and 3D-enabled digital avatars will join the team meeting.
This method has far-reaching empathy implications. As more people join, you’ll know your colleague’s remote location’s temperature and upcoming weather. Talent management teams can apply this to a diverse workforce.
Here’s a table to show the aging workforce’s return to the Metaverse.
How can aging talent contribute in the Metaverse?
Metaverse will eliminate distance bias and integrate diverse workforce knowledge into product development and discussions, primarily since it can rely on human intuitions when data is limited.
Boards are Appointing Workforce Planning and Talent Management Experts
Post-pandemic, due to cyber security threats, geopolitical issues, diversity trends, digital acceleration, and hybrid work, talent management would want the right talent.
Draup predicts that board members will ground-level challenges in workforce planning, talent management, and talent acquisition. Staffing in these roles will help companies.
There may be different viewpoints from the existing or new locations.
Case in point, Kenya may not seem like an immigration hub. But knowledge workers from Congo, Sudan, and Ethiopia move there.
Talent acquisition requires deeper analysis and insights to be competitive.
In this decade, companies are moving from talent data to talent intelligence and utilizing the power of AI and ML in workforce planning, talent acquisition, and talent management.
Draup enables talent management and workforce planning teams to dive deep into various trends in workforce planning and talent acquisition. It provides accurate data sets and expertly analyzed data points with tailor-made reports and insights.
It collects data from over 4,500 job roles spread across 33 industries, over 7,000 universities, and 30,000 skills to make talent management and talent acquisition a seamless experience.