Key areas where global talent acquisition leaders can make the biggest impact, as revealed by new research.
Interest is growing in talent-acquisition innovation concepts. A recent global study from Alexander Mann Solutions and HRO Today shows that the majority of respondents want to grow these practices, but whilst interest is high, fewer than 10 per cent of respondents are actually implementing any of the top metrics. Understanding innovation is key—as well as knowing what the reasons are behind an organisations’ failure to do so.
In the quest to understand innovation, the research study discovered that talent acquisition professionals are facing a challenge that is termed here as “nonnovation.” This happens when HR executes initiatives with the intent to drive new and meaningful change, but somehow the change does not happen. Innovators implement change. Non-novators don’t.
The research also examined different areas of talent acquisition where innovation comes into play. There was great interest in several types of metrics and workforce planning concepts (see figure 1). Among them were predictive analytics designed to assess a candidate’s potential success; strategic workforce planning; and leveraging unstructured data.
Two-thirds (66.7 per cent) of respondents report the best way to evaluate new technologies is by seeing them in action—and in person. This means attending in-person user group meetings. In-person user group meetings or conferences allow participants to actively engage with potential solution providers and their existing users. The research finds that the quality of the interactions, and the resulting takeaways, also depends Heavily on the background and capabilities of the event attendee.
A top area for implementing innovation is candidate engagement techniques associated with candidate experience. Simplified applications and automated on boarding were the first and third most frequently cited techniques in terms of interest among respondents.
Looking forward, according to respondents there are quite a few areas that companies plan to invest in to grow innovation. Some of these include:
• Employer brand (51.5 per cent);
• Strategic worforce planning (45.5 per cent);
• Analytics and insight (45.5 per cent);
• Onboarding (42.4 per cent);
• Training (42.4 per cent); and
• Retention (36.4 per cent).
Predictive data and analysis was rated by respondents as an area with the greatest potential. Understanding upcoming trends through the use of data correlates with respondents’ interest in innovation in recruiting and retention applications. HR departments that are not looking to embrace predictive analytics are likely going to fall behind their competitors in the coming years.
These planned innovation areas lead to a quantifiable return on investment (ROI) metrics—the kind that can help HR department leaders in their quest for resources so that they can truly become a leader in new ideas. Overwhelmingly, study respondents report that ROI is the most important factor that influences degree to which senior leadership is willing to invest in innovation.
The full report is available at www.hrotoday.com/market-intelligence/research/hr-innovation-look-ahead-2017-part-ii/