Time flies by in the blink of an eye. Not long ago, we were analyzing the trends unfolding in 2017 and in no time, we are talking about projections for the next year. What amazes us the most is the magnitude of change the industry has gone through in such a short time span. With cloud adoption becoming the norm and machine learning taking the top spot in every organizational agenda, talent leaders are facing challenges like never before. And surprisingly, the year 2018 looks to be no different. We anticipate more disruption, more need for agility, more scarcity of talent, more need for reskilling, and a lot more.
So here’s a closer look at the lessons 2017 taught us and what we can expect from 2018.
1] You can’t wait for the right candidate to come to you
Technology disruption has lead to a serious shortage of skilled candidates. They have turned more passive than ever. Finding random resumes on career websites will not really help the talent leaders much. The year 2017 saw a rise in the use of Social Media in recruitment. ‘Social Recruiting’, a blanket term for finding talent through social media was coined in 2008. This trend is expected to continue next year as well. Not just this, more organizations will switch to Talent Assessment and Recruitment tools for ensuring better candidate experience for their prospective employees. Candidate engagement through gamification and data-driven insights will become a priority for the organizations. (Also read – Social HR – New rules of talent acquisition)
2] Your brick and mortar office is getting smaller
“I am not on leave. I am working from home. Or a coffee shop. Or a tent on a highway.” Heard that too often in the year 2017? Well, you will hear it more often in the coming year. With the IT industry becoming more flexible about attendance policies, the trend for ‘Work-from-anywhere-anytime’ will see a rise. Many startups are being built on ‘remote’ teams. This helps the organizations lower their net expenditure on infrastructure and also increase employee efficiency. Being open to a remote workforce helps organizations find the best talent globally, and it also fulfills the purpose of ensuring work-life balance for employees. Remote hiring and working will see a steep rise in 2018 as Internet-based talent management technology becomes mainstream.
3] Blind hiring to get the diversity right
Not long ago, Silicon Valley saw a quite a few accusations and counter-claims of biased hiring. The talent leaders in the technology-innovation hub of the world suffered severe backlashes for the lack of diversity in the workforce. This made the leaders switch to the concept of ‘blind hiring’. Blind hiring involves removing parameters such as gender, age, race, and sometimes even the alma mater from the resume of the candidate to ensure there’s no unconscious bias against the person.
Organisations are even switching to software that automates the entire hiring process to avoid any human bias. (Also read –Enabling workplace diversity through blind recruitment)
4] Automation will create new skills
There has been a lot of heated discussion over automation killing jobs in the year 2017 but we haven’t really reached that level as yet. In the coming year, the industry will witness increased demand for new skill sets but total replacement of human workforce is a still some distance away.
According to a Robert Half Survey, the finance industry is already facing the brunt of a shift in the kind of skills needed. 56% of the surveyed CFOs accepted that they are expecting automation to help them increase efficiency, whereas 43% anticipate its influence on management’s decision making.
The impact of automation was clearly seen in talent acquisition and management processes, with giants such as Walmart and KFC turning to HR tech experts upgrading their recruitment systems. 2018 definitely seems to be a year where technology will gain prominence in the field of talent acquisition and management. (Also read – Automation in tech recruitment and why is it necessary for HR)
5] Gamification is the way
2017 saw the use of Artificial Intelligence and Virtual Reality in recruitment. The coming year, 2018 will see an increase in this trend. With the rise of millennials, innovative ways of recruitment and training will see a rise. Gamification is helping talent leaders increase employee engagement and train their workforce more efficiently. This has helped organizations considerably in terms of retaining talent for a much longer time. Employees learn many important soft skills while getting trained through gamification and, at the same time, hiring managers collect a plethora of data on their behavior through their responses during the gamified learning.
6] Get them ready for the future
2017 saw many mass layoffs because of technology disruption. Jobs that involved repeatable tasks are quickly vanishing from the industry landscape. AI and predictive analytics are taking over various management and decision-making positions. The year 2018 belongs to reskilling. It’s important that organizations identify employees who are willing to work on their skills. People with jobs like that of travel agents, cabin crew, and some others are under threat and they need to be upskilled for the future.
7] Rethink the perks you provide
As we said earlier, the war on talent will be like never before and to spend only money will not help. Organisations need to up their game by offering competitive perks and additional benefits to the candidates. These benefits aren’t just free gym membership or an annual party but can be flexible working hours, regular social events, remote work opportunities, free food, or compressed schedules. Organisations are now doing away with traditional regulations and are rethinking employee benefits and compensations.
2017 was an interesting year for the industry and 2018 promises to be an adventurous ride. We wish you all the best.
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May the best talent be with you!