Candidate Experience Archives - The Future of Work Exchange

What’s The Deal With Virtual Layoffs?

Business Leadership by Christopher J. Dwyer on 11/13/2024

Try not to read that title aloud in a Jerry Seinfeld voice.

There’s no denying that recessionary fears are resulting in sometimes necessary cost-cutting strategies for businesses across the globe. And there’s no way around budgetary concerns when the economy is still at an unsettled point only three-and-a-half months into 2023. Layoffs are an unfortunate attribute of the corporate arena, in which headcount is reduced in mass quantities as a result of poor performance, market conditions (like we’re experiencing today), a global health crisis (hello, pandemic), and a slew of other reasons.

The world’s biggest and most popular fast-food chain will always weather whatever storm they face, but even McDonald’s has limitations on how they can operate in an uncertain economic climate. Alongside global organizations like Amazon, Goldman Sachs, Meta, Google, etc., the golden arches now faces their turn in the “let’s reduce headcount to save dough” game that so many other enterprises have faced over the past several months.

While layoffs can be heartbreaking and disruptive, they are a cost of business. No one would fault McDonald’s or any other large global entity for slashing their workforce in 2023’s rocky economic road. However, there’s a very, very fine line between a layoff and cruelty…a line that McDonald’s crossed just this past week.

We’re not lovin’ this. At all.

As stated above, yeah, layoffs sometimes need to occur for a business to move forward. Especially in the world we’re living in today. Although costs need to be front-and-center, there’s a right way to conduct layoffs and a completely, erratically wrong way to do so. Guess which way McDonald’s chose?

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The Reality (and Future) of Direct Sourcing

Direct Sourcing by Christopher J. Dwyer on 06/10/2024

In the ever-evolving realm of workforce management, every “hot” topic comes with its fair share of buzz. Yet, amid the hype machine that often surrounds emerging strategies, the question arises: does direct sourcing fit the mold, or is its true significance more profound than the proclamations of technology providers, executive leaders, and industry pundits (like us!) over the past few years suggest?

One of the primary challenges in understanding the true impact of direct sourcing revolves around the complexities inherent in such a program and the precise definition of genuine direct sourcing. Do enterprises that meticulously curate their talent and channel candidates into a talent pool truly encompass direct sourcing within their core workforce strategies? Does a comprehensive approach to direct sourcing, encompassing segmentation, integration into primary recruitment streams, and the facilitation of talent nurture, necessitate automation to earn its place as a cornerstone program?

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How Will Chat GPT-4o Impact Talent Technology?

Business Leadership HR Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 05/14/2024

“The new voice (and video) mode is the best compute interface I’ve ever used,” said OpenAI CEO Sam Altman yesterday at the company’s launch of its latest AI model, GPT-4o (“omni”). “It feels like AI from the movies; and it’s still a bit surprising to me that it’s real. Getting to human-level response times and expressiveness turns out to be a big change.”

OpenAI’s latest model, GPT-4o, seamlessly blends voice, video, and text to redefine the AI interaction experience, striving for a natural and intuitive engagement. Beyond mere text processing, this model comprehends and reacts to both audio and visual inputs, ushering in a more human-like interaction. Moreover, OpenAI’s efforts in enhancing responsiveness are evident as GPT-4o boasts reaction times in milliseconds, mirroring the pace of a genuine conversation.

There’s a ton to unpack in Altman’s excitement, but there’s a key word in there that means so much for the world of talent technology: expressiveness. And it will take artificial intelligence to the next level in regards to how businesses find, engage, source, manage, and retain talent.

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AI in Talent Acquisition Coming into Its Own

Business Leadership Contingent Workforce General Insights HR Solution Providers Talent Talent Acquisition Technology and Innovation by John Yuva on 04/22/2024

Artificial intelligence (AI) is omnipresent, impacting all businesses and industries. However, where AI is showing immense potential is in the greater world of work and talent — specifically, talent acquisition. Few technologies in history can affect everyone, but AI’s capabilities are doing just that whether you’re an HR leader, recruiter, business manager, employee, or job candidate. AI brings revolutionary and transformative change to the Future of Work. A rising tide of enrichment is here and here to stay.

Research from Ardent Partners and the Future of Work Exchange reveals that 80% of businesses expect to begin or increase their utilization of AI tools and technology through 2024. A staggering statistic. Thus, within the next four to six months, the vast majority of enterprises will be utilizing AI technology.

The Rising Tide of AI in Talent Acquisition

The impact of AI on business and its growing influence on talent acquisition was the topic of discussion during a recent Ardent Partners and Future of Work Exchange webinar featuring special guest Opptly, titled “The Rising Tide of AI in Talent Acquisition.”

Speakers Christopher Dwyer, managing director of Future of Work Exchange; Opptly’s Lori Hock, CEO, and Rebecca Valladares, head of operations, addressed how AI is changing the talent acquisition landscape. Dwyer shared that within the next 18 months, 74% of enterprises plan to leverage AI to improve the candidate experience. This is a sign of how much AI will play a critical role in attracting job candidates in the near future.

The following includes several key points shared during the webinar that show AI is not only here, but here to stay.

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The Four Future of Work Trends That Deserve More Attention

Business Leadership by Christopher J. Dwyer on 01/15/2024

In the final weeks of 2023 and just recently here on the Future of Work Exchange, we highlighted a variety of predictions and insights into the coming months. Not only did we unveil our own thoughts on trends, but also commentary from numerous executive leaders across the greater workforce solutions industry.

While there are many trends and corresponding predictions that generate headlines and steal thunder, there are several other trajectories that may not be front-page news, but nonetheless, are deserving of business leadership attention as we move further into January and, of course, into 2024.

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Five Ways AI Can Transform Talent Management

Business Leadership Talent Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 07/18/2023

Artificial intelligence has the potential to transform the many ways businesses find, engage, source, and manage talent, as well as how they structure business operations in a candidate-centric world. Today on the Future of Work Exchange, we present another exclusive infographic, “Five Ways AI Can Transform Talent Management,” that reflects how AI is primed to not only disrupt talent acquisition, but also influence, impact, and revolutionize the Future of Work movement.

The Next Era of Direct Sourcing: A Future of Work Exchange Research Sneak Peek

Direct Sourcing by Christopher J. Dwyer on 04/10/2023

In just a few weeks, Ardent Partners and the Future of Work Exchange will publish the next edition of its landmark direct sourcing series, The Next Era of Direct Sourcing. Today, we present a sneak peek of the groundbreaking new research study. Stay tuned to the Exchange for more news about the new report (and maybe another sneak peek!).

Just a few years ago, the majority of direct sourcing programs revolved around a near-simplified core of processes and strategies meant to assist the overall organization in developing flexible talent pools and talent communities. Since then, direct sourcing has become synonymous with the continued evolution of talent; businesses that desire deep organizational and workforce agility are actively harnessing the power of talent pools (and placing top candidates into the recruiting process) as a viable means of reducing talent acquisition costs, ensuring top-tier skillsets and expertise, and structuring a truly dynamic workforce.

Historically, direct sourcing delivers value by enabling (1) deeper candidate pipelines, without the need for staffing suppliers or intermediaries, 2) more active recruiting and engagement of known talent, such as “silver medalists” and past contractors, and 3) more savings, both hard (reduced staffing markups, more competitive rates, etc.) and soft (higher-quality talent, faster fill rates, stronger performance, reduced risk of bad hires, etc.). In essence, direct sourcing entails several key “phases” that comprise a larger and dedicated program:

Talent curation. Talent curators (often consisting of business leaders well-versed in talent acquisition and hiring) are responsible for identifying top-tier workers and “collections” of expertise and skills that can be tapped in an on-demand manner.
Talent pool development. Talent pool development involves grouping various types of candidates into an on-demand channel of known workers, such as retirees, alumni, silver medalists, past freelancers/contractors, and new candidates that are engaged via branded job portals.
Talent pool segmentation. By segmenting talent pools, businesses can better align new job or project requirements with available candidates. Talent pool segmentation most often involves the cross-section of candidates by geography/region, skillsets and expertise, compensation, certifications, etc.
Integration with core enterprise recruitment streams. One of the most critical pieces to direct sourcing is placing talent pool candidates into the main recruiting streams that hiring managers leverage to source new workers. Talent pools should be integrated and readily accessible in Applicant Tracking Systems (ATS), Vendor Management Systems (VMS), and other key talent acquisition and contingent workforce management platforms.
Talent nurture and communication. This deeper element of direct sourcing involves frequent communication with candidates in talent pools to ensure that they are properly engaged and show interest in potential employment. Talent nurture has become a critical piece of today’s direct sourcing programs, as businesses contend with the “Great Resignation” and a higher number of disillusioned workers that prioritize communication, empathy, and other non-monetary benefits.
Repeatable candidate engagement through company branding and other marketing facets. One of the essential items of direct sourcing is simple on the surface: how do we engage candidates and encourage them to opt-into our talent network? Leveraging job boards and job portals that reflect the company’s overall brand (specifically its color schema and notable design elements) and culture (social responsibility, etc.) are the ideal means of driving candidates into a network from which can be curated into deep talent pools. On top of this is the art of referrals, which, when automated, can allow existing candidates to refer like-minded and similar-skilled workers to join a company’s talent community.

While the above attributes are the veritable core of any direct sourcing program, the truth is that the strategy as a whole has evolved since it began its meteoric rise several years ago. Although even the most intermediary of efforts drive tangible value, there is so much more at stake for direct sourcing than cutting costs and expanding the overall talent pipeline.

Direct sourcing in 2023 is more than just the sum of its parts; in fact, what it represents is a near-alignment with the direct of business now and in the relative future. The labor market is still unsettled, while economic uncertainty (unfortunately) still rules the day. Businesses are in a continued war for talent, as unemployment sinks to historic lows and millions of job openings remain.

Too, the transformations happening as part of the Future of Work movement actively dictate that businesses shift their hiring strategies. All of these facets together represent a new challenge, yet, a new opportunity for direct sourcing: help enterprises cultivate a flexible and scalable workforce that drives true talent sustainability.

What WorkLLama’s $50M Funding Means for the Direct Sourcing Arena

Direct Sourcing Solution Providers Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 03/20/2023

Direct sourcing dominates many of the talent-oriented discussions in our wonderful industry today more so than ever before. Heading into the months before the pandemic began, Ardent Partners and Future of Work Exchange research found that direct sourcing strategies and talent pool development were the top two priorities heading into 2020.

The omniscience of those findings was on point: for the first 18 months or so of the pandemic, direct sourcing exploded due to its ability to drive real workforce scalability (in a time when it was needed most) and improve the candidate and hiring manager experiences. Now that the pandemic is waning and entering an endemic state, direct sourcing is still as vital as ever to businesses that focus on candidate centricity and a talent-led approach to workforce engagement.

Last week, WorkLLama, one of the industry’s leading direct sourcing technology platforms, announced that it had secured $50 million in funding (organized and facilitated by Fairpoint Partners). Now, funding in HR tech is not a rare event, however, within the direct sourcing space, this represents so much more than an innovative solution garnering significant funding.

WorkLLama’s suite of technology does not just fall under the greater “direct sourcing” banner, but rather reflects the “Direct Sourcing 2.0” model that Ardent Partners and the Future of Work Exchange pioneered 18 months ago to reflect the next generation of innovation that has contributed to the future of the direct sourcing technology industry.

“I’ve been lucky to have been involved first-hand since direct sourcing was introduced to the market many years ago,” said Kevin Poll, WorkLLama’s SVP of Strategy and Business Development. “Fast forward to today and seeing the market demand for next-gen direct sourcing technology, it’s exciting and validates the market opportunity and the belief in our innovation and growth. Not only will we help all talent connect to meaningful work, but I’m also personally looking forward to how this investment will allow us to continue advancing the platform to help underrepresented communities.”

WorkLLama has become a leading direct sourcing platform not just because of their overall commitment to the arena, which has been apparent since they entered the enterprise market back in 2016, but rather because the company has leveraged progressive thinking to fuel a new era of direct sourcing, ATS, and end-to-end talent management functionality. The WorkLLama platform, including its unique Sofi bot, offers users with advanced functionality, artificial intelligence, access to superior talent, an enhanced candidate experience, and the enablement of repeatable and scalable direct sourcing processes all contribute to a more advanced direct sourcing program.

“WorkLLama was established in 2016 to solve long-standing challenges within the talent attraction, engagement, nurturing, and retention space,” said Saleem Khaja, COO and co-founder. “Since our inception, we’ve led with the most robust, client-centric, and configurable solution available, with a central mission to provide the highest-level consumer-like experience to talent. This funding is an important milestone in our journey to enable both organizations and talent to become even more successful.”

The massive level of funding here speaks volumes about the direct sourcing technology industry for several reasons:

Direct sourcing has moved beyond the “peripheral platform” spectrum within the talent technology ecosystem. Just a few years ago, direct sourcing solutions were considered peripheral technology; that is, platforms that contributed to extended workforce management and talent acquisition without the standing of Vendor Management Systems and HRIS solutions. Today, that has changed. WorkLLama’s funding is a direct reflection of the criticality of these platforms in driving better candidate outcomes and optimizing talent engagement and recruitment.
Artificial intelligence is now table-stakes for any technology in the workforce solutions market. One of WorkLLama’s leading-edge innovations is the application of AI and machine learning throughout the platform, which shines in its candidate nurture functionality and particularly its Sofi conversational bot. Sofi harnesses the power of AI to automate and facilitate candidate communication and engagement; the WorkLLama platform also leverages AI to catalyze digital recruitment and referral management, two attributes of direct sourcing that are crucial for programmatic success.
The candidate experience and the hiring manager experience are paramount. One of the more interesting developments in the direct sourcing technology arena is the commitment to and focus on “experience-led” aspects of talent acquisition. With a volatile labor market, the candidate experience is, of course, critical (something that WorkLLama achieves through its deep nurture and engagement functionality). What has also become important, however, is the hiring manager experience by arming these professionals (and other talent acquisition leaders) with robust offerings that can facilitate skills assessment, develop deep talent communities, and streamline talent engagement and hiring.

“CEO, CHRO, and CPO leaders face unprecedented challenges as they evaluate new workforce strategies to find and engage talent in today’s market,” said WorkLLama’s CEO and co-founder, Sudhakar Maruvada. “WorkLLama’s growth, especially in direct sourcing, shows that these leaders are invested in innovative solutions to keep up with the changing landscape of work and workers. This investment will allow us to continue to build on our key differentiators and mission of treating candidates like customers.”

Candidate-Centricity Should Be the Nexus of 2023 Hiring

HR Talent Talent Acquisition by Christopher J. Dwyer on 03/15/2023

Sometimes it can be incredibly taxing on our minds to configure the many, many ways the Future of Work influences the way we live, the way we work, and the ways those two intersect. From new technology and innovative platforms to conscious leadership and overall business transformation, the very notion of the “future of how we work” involves so many intricacies that it can make our collective heads spin.

However, in a vacuum, we have to look at the future (and, in this case, the very near future) and configure specific aspects of corporate operations in such a way that they align with the external forces now driving success…or failure.

Talent has become the top competitive differentiator in a market that is increasingly globalized, unpredictable, and disruptive. Businesses that source the best talent, utilize that talent to get work done effectively, and retain that talent are always going to be the ones that thrive in a business arena that is evolving at a breakneck clip.

We’ve witnessed (and, more importantly, experienced) the highs and lows of talent engagement, hiring, and talent acquisition over the past two-plus years: pandemic-led layoffs, the rise of workforce agility, The Great Resignation, The Great Resettling, quiet quitting, quiet firing, and worker empowerment. It’s surely been a roller-coaster for talent acquisition execs, hiring managers, HR leaders, and other executives that hold some responsibility for workforce management within the typical organization.

At the end of the day, however, all of these talent-led transformations lead to one conclusion that should form the foundation of talent acquisition strategies in 2023: a candidate-centric model is the best path forward, considering the risks of an economic recession, continued global disruptions from war and supply chain issues, and, critically, the ramifications of the “talent revolution” that businesses have experienced since March 2020.

There are many reasons why running a candidate-centric hiring model makes sense in the year ahead:

Workers are done with being overpowered by their managers and employers when it comes to poor working conditions and a lack of appreciation.
Talented professionals have undergone a mental transformation during pandemic times that have forced them to reevaluate the impact of “work” and “career paths” on their personal lives as humans, leading to a desire for more purposeful work.
Workers desire true flexibility, not just a free weekly lunch or a ping-pong table in the break room. The flexibility for personal care, child care, elder care, etc. is all-important in today’s workforce; professionals crave the ability to attend their children’s’ events or harness the real power of remote and hybrid work to ensure that they have a proper work-life integration.
Candidates have more choices than ever before, regardless of the state of today’s economy. Businesses must stand out from the pack and offer a truly emotionally-engaging experience for their potential workers that leaves a real impression; will candidates gain a sense of trust, as well as an understanding of workplace and corporate culture?
Building on the above attribute, candidates desire a seamless and frictionless experience when applying for a job, negotiating terms, and following through the onboarding process. These may seem like more tactical aspects than strategic, but they go a long way towards developing a positive candidate experience for potential workers.
Diversity, equity, and inclusion (DE&I) is one of the most crucial elements of workforce management today. As frequently stated on the Future of Work Exchange Podcast, “A diverse talent pool is the deepest talent pool.” Candidates want to know that they will be part of a diverse workforce that also includes a truly inclusive workplace culture.

There’s more to developing a talent-oriented hiring strategy than just being committed to the candidate; enterprises must look to the aspects above and understand that, in a volatile labor market, they need to do so much more than they have ever done before to attract the best-fit, top-tier talent, skillsets, and expertise. The candidate experience is paramount and candidate-centricity hiring models are essential to thriving in 2023.

Five Reasons Why Direct Sourcing Can Supercharge Hiring

Direct Sourcing Talent by Christopher J. Dwyer on 03/01/2023

The Future of Work Exchange has long discussed the value, impact, and power of direct sourcing. Over the past three years, direct sourcing has dominated discussions across the world of talent and work, and rightfully so: Direct sourcing represents a dynamic entry-point to talent sustainability. Considering its impact on the candidate experience (transforming how workers engage with potential employers), referral management (automated, mobile-optimized referrals), and talent community development (boosting talent curation and progressing into a new stratosphere of on-demand talent pools), direct sourcing is a robust strategy to developing real workforce scalability…and talent sustainability.

Today, we are excited to present an exclusive infographic, Five Reasons Why Direct Sourcing Can Supercharge Hiring.