Congratulations to all of HRO Today’s CHRO of the Year Award winners and Leaders of Distinction as well as the Talent Acquisition Leader of Year Award winners and Leaders of Distinction! Hire Velocity was proud to be a VIP sponsor of this year’s Forum and CHRO of the Year Awards Gala, and we are excited to see the advancements taking place in human capital strategy and technology.
Several key themes emerged over the course of the conference including AI, candidate experience, employee engagement, and corporate strategy. Based on those themes, if we could sum up the future of HR and Talent Acquisition in one sentence, it might be this: Automate where possible so humans can put their efforts where they matter most.
Will Technology Replace RPO?
It’s a question we’re watching closely and that we heard discussed by several speakers at the conference. Hire Velocity Chairman, John West, offered insight into this crucial topic in his session on Tuesday with some observations:
- The race is on for artificial intelligence technology, and we can expect thousands of new concepts to be launched in the next few years.
- The three big drivers in this space are: AI, machine learning, and blockchain.
- In just ten years, we can expect AI to be one thousand times more powerful than it is today.
The question everyone is asking is this: Will these new technologies based on AI, machine learning and blockchain replace RPO and other related recruiting and human capital functions?
These new technologies are exciting and have the potential to dramatically change our industry and the way we do things. Still, humans will need to stay closely involved by setting strategy, adjusting processes, and handling final candidate evaluation and selection. RPOs should lead the way in optimizing the recruiting process and using the best available technology to hire top employees more effectively while increasing value to the customer.
What Will HR Look Like in Five Years?
The rapid technology advancement we’re seeing has been dubbed the next industrial revolution, and we can expect some radical changes to the status quo over the next five to ten years. But what exactly does that mean for HR practitioners and recruiters?
We asked Hire Velocity’s leaders to weigh in on the subject with their top takeaways from the conference:
John West, Chairman: AI and Blockchain Will Shape the Future of Recruiting
“I was very impressed with the caliber of human capital leadership at the conference. It’s clear that the attendees are thought leaders in the field, and there was a lot of idea sharing that occurred both in the main sessions and the social outings!
A key challenge we’re seeing in today’s recruiting industry is the ratio of quality talent to open positions. The 3.9% unemployment rate has created a shortage of high caliber talent available to hire and is causing a lot of challenges for recruitment and talent acquisition. As I discussed in my presentation, there are a lot of new technology offerings and companies will need to find ways to solve their recruitment challenges with new technologies like AI and blockchain. We’re all talking about how these technologies will impact the future of recruiting.”
Byron West, President: Project RPO, Company Reviews, and Big Data
“I came away with three big ideas:
- Many more companies are looking for RPO solutions with a broader array of solution options than in the past. Enterprise or complete outsourcing seems to be waning while blended or project RPO seems to be moving to the forefront.
- Company ratings are taking a much bigger place in the decision of candidates. Companies like Indeed and Glassdoor are providing ways for candidates to give reviews and those reviews can be very helpful or harmful to the companies hiring depending on the scores.
- Big data from postings, applicants, and salary are becoming increasingly more important to companies. Indeed seems to be the rising star in this area, and it’s been interesting to see how offerings are expanding, especially with the recent acquisition of Glassdoor by Indeed’s parent company, Recruit Holdings.”
Marques Smith, Chief Operating Officer: Technology Advancements and the War for Talent
“The HRO conference was a wonderful event. It was interesting and insightful to hear all the discussions around attracting and retaining key leaders, the war for talent, regulatory issues, and most importantly, how technology advancements will impact the recruiting space. I left the conference very inspired and excited for what’s to come.”
Don Boone, Managing Director: Human Connection Is Still Critical
“While the Forum displayed an impressive array of AI solutions and opinions, it appears the human side of recruiting will always be paramount. As a RPO provider, we’ve learned through interactions with thousands of candidates that people respond positively to human connection, and the research we saw at the conference emphasizes that. People still need to be involved at crucial points of the hiring process such as communicating the company’s EVP during screening and managing the critical offer negotiation process.”
Sara West, Director of Strategic Development: New Technology and Strategic Leadership Solves Pressing Recruitment Challenges
“Unlike most talent acquisition or HR conferences, the HRO Today Forum gathers recognized thought leaders in the field to discuss key topics and share ideas and best practices to address concerns relevant to HR and TA. I was impressed by the variety of speakers and presentations as well as the openness of leaders to discuss their challenges and possible solutions for other companies’ recruiting challenges. Based on the presentations, it’s very clear that the low unemployment rates, proliferation of AI technology and the employee/candidate-driven job market are challenges for companies across all industries and sectors, and it was fascinating to see how some companies are addressing these challenges as well as how new technology is facilitating solutions to these challenging problems.
I’m very impressed with what TA and HR thought leaders are doing within their companies to engage candidates and employees and truly focus on what’s important: the people.”
We’re excited to see what the future holds for recruiting and for RPO. At Hire Velocity, we’re working hard to stay on top of new technology offerings and implement the best of breed tools and systems, so we can deliver the greatest value to our customers.