An all-new episode of the Future of Work Exchange Podcast, sponsored by Beeline, features a discussion with Athena Karp, CEO and Founder of HiredScore. Athena and I discuss the power of artificial intelligence in talent technology, its impact on diversity, equity, and inclusion (DE&I), and what lies ahead for the Future of Work movement in 2023.
Tune into Episode 705 of The Future of Work Exchange Podcast below, or subscribe on Apple Music, Spotify, Stitcher, or iHeartRadio.
Ardent Partners and the Future of Work Exchange are excited to announce the launch of its annual Future of Work research survey. This comprehensive, online survey will fuel the Exchange’s research calendar for 2023 and aims to tackle progressive topics, such as:
Click here to participate in the new Future of Work Exchange research survey. If you are an executive leader that works in the HR, procurement, finance, talent acquisition, or IT function of your organization, or if you’re a Chief People Officer, this survey has been designed to capture your specific experiences in addressing how work and talent are managed at your enterprise. As a thank you for participating in this crucial research effort, all research study participants will receive access to all of the Future of Work Exchange’s market research studies in 2023.
The Future of Work Exchange (FOWX) and Ardent Partners recently hosted their complimentary webinar, The Five Things You MUST KNOW About the Future of Work, which discussed the critical capabilities that enterprises can unlock to truly optimize the way they address talent acquisition, extended workforce management, and, most importantly, work optimization.
Over the next five weeks, we’ll be recapping each of the five things discussed during the event.
In our fourth installment this week, we’ll be exploring artificial intelligence as a Future of Work centerpiece.
AI and the Rise of Total Talent Intelligence
Artificial intelligence (AI) is the fourth thing to know about the Future of Work. If there was an informal poll asking to name the leading Future of Work technology, about 90% would say artificial intelligence (a not-so-surprising answer). Of all the technologies available to enterprises that help automate key workforce processes, AI is the pure representation of the Future of Work.
However, there are different shades of artificial intelligence helping organizations optimize the way they get work done and how they think about talent. It’s more than having an artificial persona to help figure things out and make decisions — instead, it’s enabling smarter decisions.
Consider the rise of total talent intelligence. Today, an enterprise’s workforce may consist of 35%, 40%, or 45% non-employees and extended talent. For some, those numbers may be lower, but for others, they’re also higher. Earlier this year, Future of Work Exchange research found that 47.5% of the average company’s total workforce was considered extended, non-employee, contingent, or contract (this figure also includes freelancers, contractors, temporary workers, gig workers, consultants, etc.).
Total talent intelligence is a gateway to understanding the totality of the workforce; a gateway stimulant, so to speak, for total talent management. It’s the idea that enterprises have enough information and data on the entirety of their workforce – including skills, performance, and productivity levels. All of this information allows business leaders and hiring managers to make near-instantaneous, real-time decisions about the talent they need for a new role, project, or initiative.
Total talent intelligence enables smarter, more perceptive hiring. And AI is the way to get there.
AI as a Conduit for Diversity, Equity, and Inclusion Assessments in Recruited Marketing
If bias can be removed from decision-making and technology, and AI is set up in such a way that there is no unconscious bias, then it is possible to understand how diverse the workforce truly is. The Exchange has long said (including many years ago) that a diverse workforce is the deepest workforce. Being able to bring in different voices from different cultures allows businesses to be more innovative and think outside the box. And AI is a perfect conduit for that.
With regard to candidate assessments, there is wonderful technology out there that helps organizations better understand how efficient and effective a worker can be. It helps the business that went through an AI-fueled candidate assessment tool to source the best talent.There are similar solutions for recruitment marketing that have robust AI capabilities. These solutions are more than chatbots; they’re ubiquitous in how they help a candidate feel more comfortable and engaged. A candidate can use a mobile app and understand how to apply for a job. Likewise, the process for onboarding is clear, especially as it relates to healthcare benefits, time off, and open shifts. It’s these solutions that benefit the recruitment and onboarding side of extended workforce management.
On the workforce management side, AI helps with recruitment marketing. The idea that enterprises can program a bot to fill their talent pipeline overnight is quite amazing. Beyond just providing data, artificial intelligence can spark some of these processes that are beneficial to the business.
Turning to the volatile economy and its potential impact on the workforce, predictive analytics and scenario building are about managing these uncertain times. If enterprises are preparing for a recession, it is important to understand where they’ll be in six months. Data can be fed into a solution to help enterprises build a scenario and predict their financial picture or the state of global markets. The same type of data can model where the workforce is headed based on rates of resignations and retirements. Will there need to be cuts based on finances? Artificial intelligence is the perfect fighter against volatility by providing a clearer understanding of the future and how the workforce may look.
If you take a step back and say the words aloud (like I do dozens of times a day), it seems quite weird: the “Future of Work” is about the future, but it also revolves around the present, right? So, when we discuss the Future of Work, we’re essentially discussing the continuous optimization of work through current progressions and how it will evolve over the coming months and years.
And the most interesting idea around the Future of Work movement is that there are so many attributes of work, talent, technology, and business leadership that serve as real-time accelerants and harbingers of things to come.
Here are the five things the Future of Work Exchange believes are driving this moment today (and will drive tomorrow):
Direct sourcing has dominated discussions around talent, work, and staffing for the past few years because, when executed well, it can deliver incredible value to the greater organization through hard benefits (such as cost savings and a quicker average time-to-fill rate) and soft benefits (greater talent quality, better engagement with highly-skilled candidate, etc.). And, as the overall HR market evolves in the wake of rising worker resignations, smart businesses will prioritize the need for deeper assessment and validation of skillsets and place a greater emphasis on the candidate and hiring manager experience.
The starting point for most will be to build on their existing direct sourcing capabilities and work to develop a true Direct Sourcing 2.0 program…which, of course, is only achievable through the convergence of strategic and automated competencies.
The path to Direct Sourcing 2.0 is paved with technology. While elements such as talent curation, talent pool development, talent pool segmentation, and recruitment stream integration are core to any direct sourcing program, HR leaders and their teams must incorporate digitization and advanced direct sourcing competencies to get to the next level of performance. Achieving Direct Sourcing 2.0 requires advanced capabilities to be coupled with digital recruitment functionality in order to boost talent quality, enhance candidate intelligence, and develop repeatable and scalable methods for reengaging talent to build a truly agile workforce.
While predictive analytics are not commonplace today, soon, a majority of enterprises will look to scenario-building as a way to enhance overall talent intelligence. Predictive analytics, in this realm, will augment the organization’s overall knowledge of its in-house skills as well as the expertise available externally (across all talent communities, including talent pools).
This level of intelligence will spark new and targeted initiatives to find better-aligned candidates with stronger talent engagement efforts and push business leaders to better understand who the strongest candidates are for future roles, positions, and projects.
Sixty-five percent (65%) of businesses plan to link the candidate experience with hiring manager experience. As discussed in the Ardent Partners and Future of Work Exchange Direct Sourcing 2.0 research study, transforming talent acquisition into a consumer-like journey is just one side of the Direct Sourcing 2.0 coin. The other side focuses on the hiring manager experience, which should be seamless in order to streamline the means of finding, engaging, and sourcing talent for a full spectrum of open roles and positions.
While only a third (33%) of businesses have automated candidate experience capabilities in their direct sourcing programs today, 50% more plan to do so within two years. Personalization and sharing more specific details regarding a project/role match, when automated, are repeatable and scalable to ensure that all candidates have a more positive and compelling experience when recruited.
Today, AI is prevalent in both full-time/traditional talent acquisition and within the extended workforce arena. Ardent Partners and Future of Work Exchange research finds that nearly 60% of organizations are effectively “blending” AI and human-led processes into the current hiring initiatives, with another 34% expected to do the same over the next 12-to-24 months.
Back in February, I joined Beeline and HiredScore for an exclusive webcast on demystifying the role of artificial intelligence in hiring and extended workforce management. Beeline’s Colleen Tiner (SVP Strategy), HiredScore’s Athena Karp (CEO & Founder), and I discussed how AI could be leveraged to enhance hiring, drive total talent intelligence, and combat the ramifications of The Great Resignation. If you missed the webcast, we’ve got you covered:
Artificial intelligence (AI) is one of the premier technologies under the Future of Work spectrum. Along with machine learning, AI has transformed the way businesses think about data and insights, adding an additional layer of depth that was previously out of grasp. As AI became more prominent within the business stratosphere, it quickly moved from merely augmenting existing “Big Data” strategies to becoming a means of transforming both tactical and strategic enterprise operations.
As talent became even more of a competitive differentiator over the years (especially in these evolving times), businesses realized that they required additional support in executing more educated talent-based decisions. Today, AI is prevalent in both full-time/traditional talent acquisition and within the extended workforce arena. Ardent Partners and Future of Work Exchange research finds that nearly 60% of organizations are effectively “blending” AI and human-led processes into the current hiring initiatives, with another 34% expected to do the same over the next 12-to-24 months.
I am excited to join Beeline and HiredScore next Thursday, February 24 (11am ET) for an exclusive webcast on demystifying the role of artificial intelligence in hiring and extended workforce management. I’ll be joined by Beeline’s Colleen Tiner (SVP Strategy) and HiredScore’s Athena Karp (CEO & Founder). We’ll tackle (and answer!) such questions as:
Click here or on the image below to register for next week’s event. Looking forward to seeing you there!
We’ve talked workforce management in 2022 and we’ve discussed how business leadership needs to evolve in the new year. What major piece of the Future of Work movement is left? That’s right: technology and innovation.
2021 wasn’t just an interesting year for workforce management technology, but rather an extraordinary 12 months that saw some major acquisitions and major shifts in how extended workforce automation was positioned, offered, and enhanced. Here’s how enterprises should invest in Future of Work technology in the year ahead:
It’s not easy out there for hiring managers, HR executives, and talent acquisition leaders. Besides both the personal and professional panic over the Omicron variant (even though we’re still in the throes of Delta’s continued rampage), these roles must consistently battle the ramifications of the so-called “Big Quit,” aka “The Great Resignation,” and otherwise known as “The Great Reassessment,” etc. Around these parts, we understand it’s instead a “talent revolution.”
There have been many theories, approaches, and strategies proposed that could curb some of the effects of The Great Resignation, but even now, there is no cure-all series of processes that can outright solve all of the current talent issues that are plaguing organizations across the world. And, to be honest, having more and more attributes of the traditional employer-employee relationship shifting towards the worker in regards to “power” is something that has been a long time coming. Aspects such as flexibility, empathy, better working conditions, and more inclusive workplace environments are all now table stakes for the modern-day workforce.
One of the key facets of the Future of Work movement in 2021 (and even more so in 2022) is the enterprise’s renewed focus on its human capital and overall depth of skillsets across the greater organization (as 62% of organizations are prioritizing right now, according to Future of Work Exchange research). So many major workforce shifts over the past two years, including the overall desire for real business and workforce agility, mean that enterprises must reimagine how roles, jobs, and projects are executed over the short- and long-term, given the natural progression of market, economic, and corporate factors (not to mention the ongoing uncertainty regarding a true end of the pandemic in the United States and across the world).
In 2022, enterprises must build towards “talent sustainability.” The concept of talent sustainability revolves around the idea that businesses can, through their workforce solutions (such as extended workforce technology, VMS, etc.), direct sourcing channels, and both private and public talent communities, build self-sustaining outlets of talent that 1) map to evolving skills requirements across the enterprise given product development and the progression of the greater organization, 2) reflect existing expertise and skillsets across the enterprise that can be leveraged for real-time utilization, and, 3) allow hiring managers and other talent-led executives to leverage nurture and candidate experience strategies to ensure that all networked workers are amiable and open to reengagement for new and/or continued projects and initiatives.
There are, of course, several caveats to a true talent sustainability strategy that represent several key innovations and forward-thinking ideas. These items, listed below, all meaningfully contribute to this progressive approach:
Businesses do not want to be caught off-guard when they have a critical need for specific skills, especially in an era when the vaunted “war for talent” rages on at a level never seen before in workforce management history. The Future of Work is many things, and, talent sustainability is becoming one of its most crucial elements.
[Editor’s Note: Over the next several weeks, the Future of Work Exchange will unveil its “21 for 2021” list of key solution providers that are shaping the Future of Work through innovative technology, progressive functionality, and overall impact on the evolving world of talent and work. On deck for today: The Mom Project.]
The Background:
In the world of “digital staffing,” which is a wide-encompassing industry that includes talent marketplaces, talent clouds, talent communities, on-demand staffing outlets, freelancer management systems (even though “FMS” as an acronym is seemingly defunct), as well as direct sourcing technology, it’s not often that businesses have access to an end-to-end workforce management platform that also prioritizes talent engagement with a deep community of gender- and ethnically-diverse professionals.
Future of Work Exchange research finds that 62% of businesses expect more focus on diversity, equity, and inclusion (DE&I) initiatives over the next year, proving that the technology spectrum within workforce management needs to evolve to meet this expected shift moving forward.
Enter The Mom Project.
Why They Were Selected:
The world for working parents has dynamically shifted…again. The Mom Project’s Greg Robinson (COO and co-founder), who appeared on the Contingent Workforce Weekly podcast earlier this year, said that he and his team fear that we will see another mass exodus of women from the workforce due to the pandemic and its wide-sweeping ramifications. The Mom Project is looking to change that through its unique ability to connect enterprises with qualified and diverse candidates in a nimble, agile, and on-demand manner. That alone warrants selection as a solution that is shaping the Future of Work, but there’s more to the story.
On top of its 500,000+ (and growing) network of diverse candidates, The Mom Project also offers progressive workforce management technology such as true total talent management functionality, an AI neural network learning engine (that incorporates customer culture and DE&I attributes) that helps users identify key DE&I trends and patterns, and automation that assists enterprises in building ready-to-engage, pre-vetted talent from both non-employee/contingent and direct hire/FTE perspectives.
The Mom Project is one of the most progressive and innovative workforce/talent solutions in today’s evolving technology landscape.
In Their Own Words:
More than one million American women will become parents this year, joining the ranks of the working parenthood — a vital segment of the workforce. Simultaneously, businesses are challenged to retain talented employees as they navigate through this period of life, and struggle to find the experienced talent they need to grow.
The Mom Project is the expert partner helping companies create stronger, more diverse workforces that are well-prepared for the Future of Work. These are the big picture problems that C-suites, boards, investors and hiring managers across the country are focused on. We’re proud to be the consultative, action-oriented partner working hand-in-hand with our customers to drive lasting change.
Women staying engaged in the workforce on their terms is good for families. It’s good for business. It’s good for everyone. .
The Outlook:
Over the next two years, 62% of businesses expect to address DE&I objectives and initiatives with workforce management technology and similar automation, according to Future of Work Exchange research. This statistic reflects just how critical diversity, equity, and inclusion truly is within the digital staffing solutions arena and its crucial place as part of greater talent management strategies.
The Mom Project is uniquely positioned to continue its rampant growth in the market from three perspectives: 1) it is one of the most visible workforce management platforms that is actively prioritizing and truly aligning DE&I within the very fabric of its functionality, 2) it offers one of the industry’s deepest communities of gender- and ethnically-diverse skillsets and talent, and, 3) its progressive technology platform enables a spectrum of innovative talent acquisition, talent engagement, and workforce management solutions that harness the incredible power of artificial intelligence and machine learning while forming a foundation of total talent management automation.
