We have researched a few exciting models of skills transformation relevant for 2022 and beyond. We have been long saying that Recruiting Infrastructure deserves the same attention as Sales infrastructure as they are Revenue Generating
A recruiter is as critical as a sales executive, and as a result, the frameworks associated with managing the recruiters should be the same.
We studied 20 recent SaaS (Software as service) product development companies and tried to mark a key recruitment event to test this hypothesis. We found that acceleration in hiring the required engineers always results in acceleration of ARR (Annual Recurring Revenue) and the associated valuation. A six-month acceleration in hiring means that 2X achievement of ARR (Annual Recurring Revenue). That means a company making 1 Million dollars in Annual Recurring Revenue can make 2 Million in ARR if the engineering team hiring is accelerated. Instead of being valued at 20 to 40 million USD, the company can now be valued at 40 to 800 million dollars. This analysis is a straightforward business case to treat Recruiter as your Revenue Generating person
Imagine how great it will be if we send top recruiters to a sales boot camp? The returns from such an experiment will be astronomical. Yet, we do not get attention for such ideas. Such stories and ideas of leveraging skills across job roles have been around. One anecdotal story comes to my mind. A long time ago, when the American specialty truck maker Mack Trucks built a specialty truck, they could not get it out of the plant due to restricted exit gate and lack of space by a few millimeters. The security guarding the gate shared an idea to deflate the tires, roll the truck out, and inflate again. This simple solution that did the trick did not occur to their top engineers. This story is an old story that exists in different contexts, and different companies have their versions. We do not know the validity of such stories as it is difficult to establish proof. But the power of the story is not whether it is true or not. The gate guard was at a vantage point to point out such timely solutions.
Organizations are missing this exact synergy across job roles that can truly elevate the performance of the company. Lack of which, they will be on the same historical path taken by several companies. Isn’t it a mystery that Xerox that dominated the large copy machines market missed the boat in bringing out personal copiers? The same story as in IBM that dominated in mainframes missed diagnosing the need for personal computers.
Social research doctoral student, Laura G. Meyer from Arizona State University, conducted one exciting study in 2020 that offers some scientific validity. It is a common understanding now that Empathy is a must to have skill. Laura Meyer used the empathy frameworks designed for training the Nurses for the palliative care fellows. The rate of Empathy improved by 20% points. The point here is NURSING is a skill that even Doctors need to practice at times. It is not two different roles!.
Like a Chess game, Organizations are in a spot to train and certify their existing workforce; This is where Draup Simulation into Future of work can help you. We are working aggressively on this but let us look into this aspect so that you can DIY (do it yourself)
Organizations should anticipate five types of movement. A compelling future simulation model should take into account all these movements
- The emergence of new-age roles
- Disrupted Traditional Roles
- Super Specialization Roles
- Convergence of Roles
- Business Synergy Roles
These are roles that did not exist in the past. Many roles in People Analytics, Employee Experience Management, Employee Wellness Management are good examples
Disrupted Traditional Roles: An on-premise systems administrator becoming a cloud administrator or a network administrator becoming cyber security analysts are all excellent examples
Convergence of Roles: An IT Application developer becoming a Software Engineer or an HRIS analyst becoming a Workday Integration Specialist and other similar convergences require some research
Specialization of Roles: An ML Engineer specializing in Computer Vision or NLP is a good example
Business Synergy: Adding sales skills into recruitment, using military veterans for adapting workplace safety protocols, leveraging recruiters as digital brand ambassadors all fall under this category
Modeling like this will be beneficial to see the evolution of your enterprise