Top talent is a major organizational efficiency kicker. So much so, McKinsey & Company claims superior talent can be up to eight times more productive.
But a serious skills shortage gap may thwart businesses high expectations to hire in the fastest growing sectors. And Gartner's latest Emerging Risks Survey should be alarming; Global talent shortage is now the top emerging risk facing organizations, outweighing both “accelerating privacy regulation” and “cloud computing”.
While technologies like artificial intelligence and machine learning are increasingly leveraged to improve HR functions, intelligent automation combines AI with automation, enabling machines to understand, reason and act, independently, or with human assistance. And by understanding both processes and their variations, IA offers a more efficient way to modernize and streamline sourcing, attracting and retaining superior talent.
Transforming how businesses use technology for recruitment
Despite the candidate experience being the first phase of the broader employee experience, just 15% percent of global business leaders surveyed by Deloitte believe their companies do an “excellent” job cultivating and monitoring long-term relationships with prospective talent.
In this year’s Global Human Capital Trends survey, Deloitte asked respondents to rate their recruitment functions, finding only 6% believed they had best-in-class processes and technology. At the same time, 81% considered their organizations’ recruitment processes standard or below standard.
More and more, technology is disrupting HR, and today’s talent acquisition systems are evolving toward cognitive capabilities, including artificial intelligence (AI), machine-to-machine learning, robotic process automation, natural language processing, predictive algorithms, and self-learning.
The latest Bersin™ research on talent acquisition says optimizing technology is one of the recruiting function’s biggest opportunities. Consider, digital assistants guiding candidates through the application processes, while simulations confirm skills to analyze whether a candidate will succeed.
Engagement and experience
Change is imminent, and businesses have already experienced a deluge of disruption. Forward-looking organizations are actively integrating “digital” into every aspect of their business. The extension of this digital thinking: intelligent automation.
Intelligent automation sustains constant change to achieve enterprise goals.
Nondiscriminatory and fair employee compensation is a top concern for employers across the globe, fundamental to the employee experience, and intelligent automation can transform payroll, benefits and compensation into strategic processes.
According to the Shared Services & Outsourcing Network, enterprises know how important it is to get customer demand right, and through intelligent automation we can apply the same insights to the employee. That includes encouraging return visits, building engagement and driving loyalty; all habits encouraged by HR.
Other cognitive-driven innovations include:
- Personalized employee experiences
- Running, formatting, and distributing relevant reports
- Proactively providing pertinent information to employees
- Immediately analyzing job applications and identifying the best fit
- On-boarding and off-boarding processes
- Leave management
- Personalized learning opportunities specific to skills, experience and career advancement
To provide excellent services and experiences, while delivering value to your shareholders, this next generation of transformation leverages analytics-based, intelligence-driven automation to better meet corporate objectives.
Next Level talent acquisition
Without a doubt, finding and retaining the right talent is one of the most pressing challenges in business today. But the explosion of intelligent automation imparts one of the most significant enterprise transformations since the industrial revolution.
As HR leaders look to balance increasing customer and employee experience demands with strategic business imperatives, they must redefine traditional operating models and re-imagine service delivery across the organization.
Your employees demand consolidated, digitized and, personalized in real-time, HR services. Improve the entire lifecycle of the employee experience, from job application to exit interview, with the Level Cognision™ Cloud, a structured, yet flexible way to build and deploy AI-driven solutions that make your workforce’s lives, simpler, happier and more productive.
And our Cognision™ Assistants improve and accelerate your people’s impact on the business, sourcing top talent, honing in on critical skills, optimizing strategic talent management and improving the candidate experience.
Are you rethinking your recruiting strategy? See how the transformative capabilities of intelligent automation can revolutionize your HR function.