How digital technologies are transforming the future of work and workforce? Find here


By
Vikram Ahuja

Techpreneurs have made us believe in technologies that would redefine humanity. Think of flying cars and robots! Technologies which are the most popular today, are actually the ones which have made us more efficient and faster at the work we do.

So, who builds efficient technologies? And how do you find them? The challenge of finding the right talent remains. Just as much as it did 20 years ago. The task of identifying and building the right workforce remains largely on the shoulders of recruiting professionals, who rely on their experience and manual intervention to find the diamond in the rough!

The hiring of top talent is the lifeblood of all successful companies. It also remains one of the biggest challenges for many companies. Optimising the recruitment process transforms any company’s workforce into an efficient and talent-first workforce. It’s possible right now, with data science-driven recruitment solutions that put talent first, essentially enhancing recruiting efforts.

Here are four unprecedented ways technologies are transforming the process of building an efficient workforce in India:

• Better sourcing – The unparalleled ability of AI to analyse millions of data points enables tech recruiting firms to quickly identify talented candidates. With a data-driven process, multiple rigorous parameters can be set to learn extensively about a wider pool of candidates. Fitment and multisource outreach algorithms are helping put the best possible candidates (active and passive) within hiring distance. One of the most lucrative opportunities for recruiters is the ability to effectively and efficiently identify passive candidates. Ignoring or devaluing the potential of this talent pool leads to ineffective recruiting.

• Better screening – Based on multiple parameters like location, previous experience, salary expectations, and active-passive status, screening algorithms are being put to work. Artificial intelligence (AI) has emerged as a predominant tool in building unbiased mechanisms and processes which influence human cognition and decision making. Algorithms embedded in machine learning tools help HR managers select candidates and interview panels in a way that is fair and devoid of individual bias. This upends the traditional model that is laden with bias. Companies with a diverse workforce are time and again proven to perform better financially than their less diverse counterparts.

• Candidate assessment – Stringent testing to failure tells the rank of candidates across different vertices. Every company can assess candidates against a customised baseline score and rank them in the order of weightage and priority. Candidates can now be tested without being interviewed and their assessment can be utilised by not just one company, but a roster of companies looking to hire talented candidates from a large talent pool.

. Better engagement – Tech recruiting firms creatively achieve the tough task of keeping top-level candidates warm, engaged and excited to join. This is possible through personalised content based on life journey of candidates. With AI, companies are now, in a position to analyse millions of data points that provide insight on a candidate’s persona and construct content that engages them much more, efficiently.

Candidates have become much more selective. Remuneration is not the sole focus of candidates anymore and they are gravitating towards companies that have embraced compelling mission statements. Thus, it is evident that candidates are more focused on a positive impact than on monetary gains. For recruiters looking to step up their game, AI technologies have become essential prerequisites.

The author is the Co-Founder of Talent500



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