Talent management solutions reign supreme at the top of the HR Tech list. The focus is on the employee (or future employee). “Talent Marketplace” will replace “Talent Management,” according to industry juggernaut Josh Bersin, Founder & CEO of The Josh Bersin Company and Josh Bersin Academy. At the 2022 HR Tech Conference, Josh was a keynote speaker and referred to these marketplaces as a combination of career management, social networking, and recruiting system. Talent is complex, and many solutions promise to solve the war for talent. Talent acquisition and recruiting are dominating the HR tech space right now. Hiring the right people at the right time is more critical than ever, and companies must improve. Bersin shared that the ROI of a high-performing talent acquisition function is a notable 5X higher than any other HR function. And while there is a ton of tech in this space, he called out that the most crucial role is the recruiter – it’s still a human-centered function. Whatever technology a company buys must work for their recruiter(s), and it is not a replacement for a recruiter.
Employers are laser-focused on improving their recruiting efforts: recruiting tops the charts for HR technology spending plans across all size organizations, according to Stacey Harris, Chief Research Officer with Sapient Insights. As a result, artificial intelligence (AI) is prevalent, helping companies identify pay inequities, remove biases from the hiring process, and even analyze interviewers. Often, Eightfold.ai is mentioned as a leader in this area.
Talent, intelligence, and skills are big and well-represented topics as employers look to support, reskill, and provide career mobility for existing workforces. There is a significant shift in focus to skills versus specific education and experience criteria. Talent Management Solutions will continue to transform how companies recruit, retain, and engage talent.
If you are looking for assistance on how to leverage HR tech for your Talent Management efforts, please contact Maggie Boucher, senior consultant, at (412) 754-3245 or email [email protected]
Please note that the information contained in this posting is designed to provide general awareness in regard to the subject matter covered. It is not provided as legal, medical, or tax advice, nor is it intended to address all concerns in your workplace or for public health. No representation is made as to the sufficiency for your specific company’s needs. This post should be reviewed by your legal counsel or tax consultant before use.