Talent Acquisition Archives - Page 5 of 6 - The Future of Work Exchange

Key Providers for 2022: HiredScore

Solution Providers by Christopher J. Dwyer on 09/20/2022

The Background:

Data is akin to gold in today’s evolving business arena. Nearly every enterprise function runs on intelligence to make smarter, more educated corporate decisions. Within the world of talent and work, the proper data can be a powerful tool in not only finding the best-fit, top-tier talent for open positions, roles, and projects, but also mitigating compliance risks, eliminating hiring bias, and fueling recruitment strategies as the business world continues to change in the face of Future of Work-era innovations and accelerants.

Ardent Partners and Future of Work Exchange research finds that 62% of enterprises plan to harness artificial intelligence to support diverse hiring initiatives within the next 16 months, while another 67% anticipate leveraging AI and next-generation analytics to fuel “predictive recruitment” (via hiring-focused scenario-building).

Enter HiredScore.

Why They Were Selected:

The Future of Work Exchange is quite bullish on the application of artificial intelligence in the world of HR and workforce management technology. For companies to truly thrive in a business arena that demands dynamic responses to real-time challenges, they must have the capabilities to effectively execute smarter hiring decisions that also reflect rigor across attributes such as DE&I.

HiredScore represents the next generation of recruiting and talent acquisition technology with its stout AI-fueled functionality, commitment to diversity and inclusion, and robust automation to help HR and extended workforce functions transform the way they engage and source talent. With is unique “Talent Orchestration” suite of products, HiredScore’s wide range of HR, staffing, and talent acquisition automation is a powerful representation of the impact and value of AI in a Future of Work-led world.

In Their Own Words:

HiredScore is the leading provider of Talent Orchestration technology. HiredScore’s artificial intelligence, automation, and deep integrations empower the largest and most innovative companies in the world to safely and transparently drive critical business outcomes in recruitment productivity, diversity hiring, internal mobility, and total talent management HiredScore’s proprietary technology provides compliant-by-design, customized-by-client AI that seamlessly connects to data and systems to power the shift to proactive and fair HR decisions. HiredScore is live in 150 countries and available in 70 languages. Learn more at HiredScore.com.

The Outlook:

The emergence of artificial intelligence is nothing new to those that follow the Future of Work movement. What is new, however, are the fresh takes on how AI can drive value within HR, talent acquisition, and extended workforce management initiatives. Businesses require real-time, actionable, and deep intelligence regarding candidates and talent; the HiredScore solution is an innovative platform that can leverage formidable functionality to drive ethical recruitment, compliance and risk mitigation, DE&I enhancement, and pure HR transformation.

With its unique “Talent Orchestration” platform, HiredScore is a true Future of Work solution that will continue to revolutionize the way businesses leverage intelligence to optimize the ways they hire.

The Five Things Driving the Future of Work (Right Now)

Business Leadership by Christopher J. Dwyer on 08/23/2022

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):

The “human” elements of work and talent. From pandemic-driven anxiety and the desire for more purposeful work, today’s business professionals crave more than just a paycheck. These workers truly require an emotional connect with their work in such a way that it solves both the work-life integration problem and allows them some semblance of flexibility in both their personal and professional lives.
Direct sourcing’s continued impact on talent engagement and talent acquisition. Many large-scale enterprises have begun “reactive layoffs” in anticipation for a possible recession. However, as many news outlets would note, there are more job openings right now than there are job seekers. This weird labor market translates into the need for businesses to harness the power of talent pools, talent communities, and talent clouds to essentially overcome the rigidity of engaging and acquiring talent through traditional means.
The transformation of business leadership. This item has long been a foundational element of the Future of Work movement; however, the way leaders lead has been continually evolving since Day One of the pandemic. There is, of course, the notion of conscious leadership and being in-tune with the workforce. And, on top of that, especially today, business leaders must fuse empathy and flexibility into their strategies. They must contend with the remote vs. in-office conundrum, the specter of a recession, and applying the best talent retention strategies to their talent. Transformation, in this case, isn’t a one-shot alteration.
Artificial intelligence drives decision-making. AI can be considered “vaporware” to some executive leaders, however, many of the prominent solutions in the workforce technology industry provide real-deal AI to help procurement, HR, and talent acquisition leaders understand the best-fit talent for a role, how their workforce will look given current economic trajectories, and support DE&I initiatives, as well as fuel enhanced candidate screening and candidate assessment.
The strategic application of new and innovative work models. Worker-led work structures. Digital collaboration augmented by infrequent in-person meetings. AI-fueled process management. Consumerized capabilities across core enterprise functions. An enhanced hiring manager experience. Developing a path to total talent acquisition (and then, perhaps, total workforce management?). The reimagination of worker productivity. These are all innovative ways of rethinking the boundaries of how work gets done, and, true extensions of the Future of Work movement.

The Future of Flexibility

Business Leadership General Insights Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 07/28/2022

“Flexibility” has become the de-facto, hot-button phrase to describe how the Future of Work should operate. However, if we dig deeper, the very notion of flexibility transcends the confines of remote and hybrid work.

Take a deep breath for a moment. Think about your current role before the pandemic. Now think about it in the throes of 2020 and 2021. Now think about your role today and how you’re working. Chances are there are some very stark differences between these three moments in time.

For one, the very modes of work have shifted tremendously over the past two-plus years. Those that worked remotely found the transition was easy: just stay the course. Those that already had a hybrid schedule understood how to change their mindsets while also transforming their leadership and collaborative styles. And for those in which remote work was a new concept, there were some growing pains.

As we sit more than halfway through 2022, there are more questions than answers in regard to the concepts of flexibility in the workforce, the workplace, and the work itself. While flexibility has become a core piece of our pandemic-era business lexicon, the truth is that there is so much more to the idea of flexibility than what we’ve experienced thus far:

Flexibility also translates into agile thinking regarding the makeup of our workforce. This doesn’t just mean that businesses should increase their utilization of non-employee talent (which, of course, has become a value-driver during these uncertain times), but rather dig deep into all available talent sources and develop a truly agile workforce. Talent marketplaces, digital staffing outlets, and direct sourcing strategies can all enhance the depth of current talent communities and ensure that businesses can be flexible when needed (market conditions, business issues, etc.).
Flexibility should cascade down into attributes such as purpose, work-life integration, etc. For far too long, being a “dedicated worker” meant a gold watch at the end of a very, very long tunnel. Now, in the wake of the biggest health crisis of our lifetime, talented professionals seek more from their jobs; the realm of “purpose” and “work-life integration” both translate into workers craving meaningful work that enables them with flexible hours, flexible projects, and a flexible model that allows for unplugged time, more task-oriented collaboration (rather than open-ended coordination), and the ability to reevaluate career paths more frequently.
Flexibility means reviewing workplace structures to provide a malleable foundation rather than a rigid “return-to-office” setup. If there’s anything we learned about the coronavirus behind COVID-19, it’s that it’s become an unpredictable harbinger of disease and disruption. Fall and winter surges fill hospitals over capacity, shutter public attractions, and force governments to reevaluate social safety and public health regulations. This all means that hardline, return-to-office planning should not only be canceled, but outright replaced by a flexible foundation that is based on science, the overall productivity of the organization, and what works best for the workforce. Too many business leaders believed that this far into the pandemic was the ideal time to bring workers back to physical locations, when they should have been experimenting with new models and assessing what was best for the business and the mental wellness of its talent.
Flexibility should apply to workforce technology and process automation, as well as data science and artificial intelligence. AI and data don’t need to be at the center of every single facet of the contemporary business, but it needs to be at the forefront of how businesses shape talent acquisition and address how work is done. Enterprises must understand the flexibility inherent in today’s crucial workforce and talent tools, like VMS, MSP, direct sourcing, and digital staffing, and tap into the modules that they may have ignored in months and years past. Requisition management and financial/administrative tools are table stakes, however, leveraging “deeper” functionality such as AI-led analytics, expansive candidate matching, candidate experience tools, talent community development, total talent intelligence, and digital recruitment are all incredible doorways into making workforce technology more flexible for an evolving business.

What Would a Possible Recession Mean for the World of Talent and Work?

Business Leadership General Insights by Christopher J. Dwyer on 07/25/2022

Inflation, a seemingly slowing economy, and an expected second straight federal 0.75%-point increase in its short-term rate (which would mark the first time this has happened in nearly 30 years) all point to one thing: a classic recession that would bring uncertainty, doubt, and fear to the greater business arena.

In an article by the Associated Press (linked here from Boston.com), the markers for a recession are clear yet many pundits aren’t fully embracing these as a surefire sign that a crisis is looming:

Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.

Yellen spoke on NBC’s “Meet the Press” just before a slew of economic reports will be released this week that will shed light on an economy currently besieged by rampant inflation and threatened by higher interest rates. The data will cover sales of new homes, consumer confidence, incomes, spending, inflation, and overall output.

The highest-profile report will likely be Thursday, when the Commerce Department will release its first estimate of the economy’s output in the April-June quarter. Some economists forecast it may show a contraction for the second quarter in a row. The economy shrank 1.6% in the January-March quarter. Two straight negative readings are considered an informal definition of a recession, though in this case economists think that’s misleading.

Yellen argued that much of the economy remains healthy: Consumer spending is growing, Americans’ finances, on average, are solid, and the economy has added more than 400,000 jobs a month this year, a robust figure. The unemployment rate is 3.6%, near a half-century low.

The National Bureau of Economic Research defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months,” yet economic activity isn’t stalling as much as a traditional recession. On top of this, the 1) jobs added figure and 2) an historically-low unemployment rate point to something else entirely: a recession that doesn’t feel like a recession.

With interest rates sky high, home sales are falling and falling, a much different scenario than the past 18 or so months, in which the market was incredibly competitive. Fewer home sales typically mean fewer purchases related to homes, such as appliances, home decor, professional home services, etc. This could cause a ripple effect on the economy, however, with consumer spending so robust right now, it certainly clouds any future visions of recessionary activity. Axios’ Neil Irwin refers to the current economic state as “the great weirdness,” stating:

But in this topsy-turvy environment, the Fed wants to see consumer demand slow enough to temper inflation. The report shows solid demand, yet it might not be strong enough to tip the committee in favor of an ultra-big full-percentage point interest rate hike, particularly given another reading out this morning that we discuss below. The bottom line: There are plenty of risks ahead, but American consumers are chugging along for now, which could keep overall growth in positive territory.

Alright, so we (maybe) understand it now: the U.S. could head into a recession, but maybe not…and if it does, it won’t be a traditional recession. Okay, got it. What does it mean for talent? What about the extended workforce? What about “work” itself?

First things first, no matter what happens, the extended workforce will continue to grow…and it will grow considerably faster if we do head into a recession. The 2008-2009 financial crisis saw the biggest jump in utilization of contingent labor in history. The “pandemic era” saw another spike in utilization. The odds favor this workforce closing the gap to half of total enterprise talent within the next 18 months. A recession, even a “minor” one by the weird standards we’re currently facing, would see some enterprises executing layoffs (but not to the extent (40 million people) that we saw during the early pandemic-fueled recession of 2020), which in turn would lead to more independent talent on the market, and those same enterprises leveraging extended talent to remain competitive. All in all, growth is in the forecast for the extended workforce.
Businesses must focus on the depth of their talent and leverage the necessary tools to help their workers thrive. A highly-skilled workforce (both FTE and extended) will help the economy grow; an enhanced output of products, services, etc. often leads to differentiation in core competition, a very strong link to businesses succeeding regardless of current financial conditions across the market. If that talent is spread out amongst many businesses within a given industry, there’s little room for those organizations that don’t value their workforce and don’t prioritize the employee experience. Can process automation enable workers to thrive with additional power via technology? Should digital workspaces be implemented to improve remote and hybrid workplace scenarios? Can we get over the digital transformation hump to ensure that the workforce blends the best of human and machine? Too, leveraging tools to reskill and upskill the workforce can perform wonders when it comes to helping workers recession-proof their positions and contribute to the future success of the organization.
Talent acquisition over the next few months becomes a critical endeavor. This is the time for talent acquisition executives to shine. They’ve been dealing with a frenetic labor market with candidates that are seeking purpose, flexibility, and lifestyle improvements; these are not attributes that are easy to quench for any TA leader, even the most seasoned. For many businesses, talent acquisition must become more dynamic and more agile to deal with both the fallout from The Great Resignation and the anticipated ramifications of whichever recession-sparked issues arise over the next several months. Leveraging the company brand, its culture, and what it can offer beyond compensation are all crucial factors for talent acquisition teams to revolutionize hiring over these next several months.

Look for more on this topic in the coming weeks on the Future of Work Exchange.

The Impact of Direct Sourcing (and Direct Sourcing 2.0) Beyond 2022

Direct Sourcing by Christopher J. Dwyer on 07/13/2022

In the throes of year of Year Three of a pandemic, historic inflation, and an uncertain economy, the labor market is the very definition of “volatile.” Today, there is a powerful undercurrent happening in the business world that promises to permanently transform the way work is done: the growth, power, and impact of the extended workforce. Enterprises are on the cusp of a permanent change in how works gets done, accelerated by a pandemic that has pushed direct sourcing to the top of HR, talent acquisition, and procurement executives’ priority list.

The sudden shift to remote and hybrid work models forced businesses to pivot their work optimization strategies while simultaneously managing ongoing operations amidst a wildly uncertain present (not to mention, the most severe public health crisis in a century). Two major workforce priorities came to light directly as a result of 2020’s challenging times: the “reimagining” of workforce management (84%, according to Ardent Partners and Future of Work Exchange research) and the greater need for contingent labor (82%).

The era of social distancing, citywide curfews, and global lockdowns have had a profound effect on how businesses find, engage, and manage their workforce. In-person interviewing, scheduled recruiter meetings, collaboration between HR and hiring managers and other “taken-for-granted” procedures became nearly-impossible to perform due to new coronavirus restrictions. In direct response to the biggest public health crisis of the last century, business leaders developed new and innovative approaches to recruiting and hiring.

Too, the increase in utilization of non-employee labor (43.5% of the total workforce in early 2020 vs. nearly 47% of total workforce today) is a leading indicator of where the world of work is heading, and, more importantly, why direct sourcing will become a dominant form of talent acquisition well into 2023 considering that enterprises were required to rethink and “reboot” their workforce management processes. And, as the need for non-employee talent increases, direct sourcing makes ideal sense as the gateway to better staffing processes and superior talent.

Even basic direct sourcing programs can drive value through a combination of on-demand, plug-and-play talent, and hard-cost savings. But the pandemic’s impact on the workforce has dramatically accelerated market shifts. Today, talent is scarce and comes at a premium. As a result, workers are demanding greater flexibility from their employers. They are more focused on work-life balance, while also desiring greater independence.

Among many things, the “Talent Revolution” indicates a seismic shift in power towards the worker and away from the employer…meaning that businesses require a more powerful, more flexible, and more scalable version of direct sourcing. Enter “Direct Sourcing 2.0.”

Now is the time for “Direct Sourcing 2.0,” the next generation of sourcing strategies that blend innovative solutions with a renewed focus on the candidate experience and an ability to use talent pools to populate the key projects and roles that require expertise and experience. Today’s business climate has accelerated the need for a reimagined approach to candidate engagement. As the market for talent continues to tighten amidst the lingering pandemic and a surging number of resignations, businesses find themselves in a new kind of “war for talent,” one that is far more extensive and complicated than anything experienced pre-pandemic.

Why Tech is the Crux of Direct Sourcing 2.0

Direct Sourcing by Christopher J. Dwyer on 05/11/2022

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.

Let’s Demystify AI in Hiring

Technology and Innovation by Christopher J. Dwyer on 02/18/2022

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:

Can AI really help my program hire the best talent?
What will my legal team say?
How can we use AI safely without bias?
Are there laws regulating the use of AI for employment decisions that I need to know about?
How do I get started on this journey?

Click here or on the image below to register for next week’s event. Looking forward to seeing you there!

With Ceridian Partnership, PRO Unlimited Doubles Down on the “Worker Experience”

Solution Providers Talent Technology and Innovation by Christopher J. Dwyer on 02/10/2022

Are we really going to mention “The Great Resignation” in the first line of a Future of Work Exchange article? Yes, we are, but for good reason. Much has been said of the “talent revolution” that is occurring today: workers are finding themselves at a veritable crossroads in which the needs and desire for flexibility and cultural attractiveness are becoming prerequisites for their next career moves. Compensation is key, but the experience is truly paramount.

In a similar manner, much has been written about the “war for talent,” even in pre-pandemic times. For years now, businesses have had to do all that they can to catalyze talent acquisition and talent engagement. When aspects such as workplace culture, business environment, and diversity and inclusion become key reasons why a worker would choose to bring their talents to an organization, the overall “talent experience” suddenly rises as the top differentiator for enterprises in attracting new talent.

To that end, integrated workforce management platform (IWM) provider PRO Unlimited recently announced an exclusive partnership with global human capital solutions provider Ceridian. The partnership will focus on the integration of Ceridian’s unique Dayforce Wallet into PRO’s innovative Worker Experience solution. Extended workers will have direct access to net pay as it is earned; after an on-demand pay request is completed within the Dayforce Wallet mobile app, funds are deposited directly into workers’ Dayforce Wallet accounts (which can then be transferred to checking accounts, withdrawn for cash, used to make purchases, etc.).

“It’s really about rethinking this industry in the sense that the extended workforce is more than just placing and filling roles,” said Jessica Kane, Chief Client Officer, PRO Unlimited. “We want to bring all of that talent-fueled data and intelligence together for the best possible worker experience. Businesses want to attract the best and brightest workers, and this partnership with Ceridian will certainly drive more choice into the overall talent experience.”

Future of Work Exchange research finds that nearly 80% of businesses are now focused on transforming their workplaces into more attractive places to work, a statistic that reflects the core mindset of enterprise leaders across the world: develop an alluring, positive environment in which candidates what to work and thrive.

“Skills have really become the new currency,” said Kane. “We want workers to be able to utilize those skillsets, combined with our data and intelligence, to support them along their career journeys and enable them to choose the right paths. Thinking about the opportunities and the clients that offer these roles, how do enterprises attract workers to these positions? Combining our data ocean and integrated workforce platform with on-demand pay through Ceridian, we can leverage all of these innovations in helping workers purse their passions.”

“Worker Experience is a standalone solution that will revolutionize how businesses transform the overall candidate and worker experience,” said Kevin Akeroyd, CEO of PRO Unlimited. “Functionality such as worker engagement and profiling (amongst other processes) are already integrated into our platform via WillHire, however, this new partnership will enhance those pieces of our solution and push worker experience management into the extended workforce.”

The concept of “day pay” has become a hot topic in the extended workforce world, as industries such as light industrial, warehouses, and other shift-based businesses experience a sharp uptick in the utilization of non-employee labor. As businesses in these sectors strive to build compelling and engaging candidate experiences, traversing into on-demand pay will become a critical measure. PRO Unlimited certainly understands the implications of this innovative market shift, which is reflected in this unique and pioneering partnership with Ceridian.

The Link Between DE&I and Direct Sourcing

Direct Sourcing Talent by Christopher J. Dwyer on 01/24/2022

In 2022, diversity is no longer a “check-a-box” factor for many enterprises around the world; rather, it has become a cultural movement within business that emphasizes the depth of talent pools, talent communities, and talent networks without bias or barriers. The truth regarding diversity, equity, and inclusion (DE&I) is that direct sourcing programs (and contingent workforce management (CWM) programs) that are diverse tend to be more successful. If businesses can embed a spirit of inclusion within their direct sourcing processes and act in accordance with this mindset, they can broaden the existing talent landscape and improve upon it with new ideas and opportunity.

And, while established diversity programs previously existed in many enterprises, the events and civil unrest of the past two years drove many businesses to develop and communicate more purpose-driven goals, which are linked to societal, economic, technological, and sustainable shifts. To achieve these goals, a large number of businesses are trying to harness the power of a diverse workforce.

Using direct sourcing to hire diverse talent gives HR teams a direct ability to link purpose with DE&I efforts. For example, businesses can opt to tap into professional networks that were already designed for diverse workers from various backgrounds, cultures, and genders and link these to talent curation efforts. Direct sourcing initiatives can also benefit from “diversity automation” that is enabled from direct sourcing platforms that have partnerships and integrations with diverse job boards and networks. They can also offer anonymizing functionality that can hide specific information about different candidates.

Layering DE&I into direct sourcing is about changing behaviors and removing hiring barriers and unconscious bias from talent engagement and talent acquisition. Utilizing technology to help guide and enforce a new mindset can be extremely valuable and create awareness that the deepest talent pools are diverse talent pools.

Future of Work Exchange research finds that DE&I initiatives will be boosted with next-level intelligence over the next year-and-a-half. DE&I remains a critical piece of direct sourcing and talent acquisition overall. Today, roughly a quarter of all businesses utilize AI within direct sourcing for DE&I purposes (27% for worker diversity data and 24% for general diversity and inclusion insights). More than half of all enterprises plan to use AI to drive these initiatives over the next 18 months. Businesses that invest in developing AI-led data collection will be able to cast a wider net within the realm of diversity, capturing gender, culture, background, neurodiversity, etc. These insights can provide hiring managers and executives with the intelligence needed to monitor and improve DE&I initiatives.

Diversity, equity, and inclusion represent, perhaps, the most important of the “strategy-led” Future of Work tenets and deserve a rightful place in the pantheon of work optimization approaches. Diverse workforces, inclusive workplaces, and an overall environment of equity can pay massive dividends for businesses seeking to spark innovation within their total talent community, especially in an unsettled labor market that will see a hopeful end to the so-called “Great Resignation” in early 2022.

Reminder: Join WorkLLama, Ardent Partners, and the Future of Work Exchange this coming Thursday (12pm ET) for an exclusive webcast on “Direct Sourcing 2.0,” which will highlight how businesses can develop powerful, repeatable, and scalable direct sourcing processes to drive next-generation talent acquisition and recruitment strategies. Click here or on the image below to register.

The Four Things that Will Determine the Future of “The Great Resignation”

Business Leadership Talent by Christopher J. Dwyer on 01/17/2022

By now, you’ve heard the phrases. “The Big Quit.” “The Great Resignation.” “The Great Reassessment.” Around these parts, we’ve typically referred to the massive, massive numbers of workers voluntarily leaving their jobs as a “talent revolution” unlike anything businesses have ever experienced before. Calling this a “revolution” rather than attributing the volatile labor market solely to a continuously-raging pandemic is selling short so many aspects of what today’s workforce truly wants, needs, and, most importantly, deserves.

In December alone, 4.5 million workers resigned from their positions. In September of last year, it was 4.4 million. October and November’s stats were just as eye-opening. For nearly the past year, the Department of Labor has constantly been breaking its own records for the “highest number of resignations in a single month,” with May 2021 serving as the first solid month of The Great Resignation.

Halfway through the first month of 2022, the expectation is that January will topple those December 2021 figures, adding to an already-volatile labor market that is consistently disrupted by yet another coronavirus variant, uncertainty regarding vaccine mandates, and other market-shifting dynamics that are proving to turn 2022 into yet another transformational year for the world of talent and work.

While I’m a bigger fan of the phrase “talent revolution” in lieu of “The Great Resignation,” the facts don’t lie: tens of millions of workers have left their roles over the past nine months and there are too many reasons why to list out in a single article on the Future of Work Exchange. The focus should be on solving this, not merely talking about how disruptive it is (although this is certainly a gigantic pain to hiring managers, HR execs, and talent acquisition leaders that are absolutely struggling to fill positions, especially in certain industries).

That being said, here are three things that could determine the future of The Great Resignation:

The Omicron variant’s peak hitting rural America, the South, and pieces of both the Midwest and the West Coast. There are optimistic signs that Omicron is peaking in the Northeast (where I call home in Boston), New York, Washington D.C., etc. Many of the jobs quit over the past year have been in industries that have shouldered the brunt of the pandemic’s worst, whether it’s in retail, healthcare, hospitality, etc. These are positions that are not, unfortunately, prone to flexibility, safer worker conditions, and competitive compensation. The constant rollercoaster effect of the pandemic’s surges and waves have meant that workers cannot appropriately support remote learning when it was the only option, cannot work due to a lack of daycare, and are often forced into working conditions that aren’t equipped with the best PPE or vaccine and mask mandates. If Omicron is truly as mild as scientists indicate, and if this is the last stop on the road to endemicity, then the regions that aren’t peaking with Omicron will soon, and that could mean (given the speed at which this variant’s cases cause and respectively fall) that, by the spring months, the country will be in a much, much better place than it is now for public health and safety.
Business leaders finally realizing that aspects such as empathy, culture, and flexibility aren’t just “nice-to-have” elements. We’ve covered it here before on the Future of Work Exchange; some well-known business leaders touting their dismissal of remote and hybrid work, and only revealing that they have no clue that, of course, business culture evolves. Major labor market shifts (in pre-pandemic times) were because of economical and financial reasons; although huge increases in unemployment would certainly cause personal distress, the major difference over the past two years is that workers were faced with uncertainty, anxiety, and stress at both the professional and personal levels. Thus, workers require some level of emotional support as well as an optimistic, positive, and inclusive workplace culture. The “flexibility” problem is simple: bake remote and hybrid work into the very fabric of every position that can support it (and make these flexibility-driven changes permanent!).
Inflation becoming too much of a financial burden. The inflation problem is real. Everything from cars to diapers to produce are several percentage points more expensive now than there were just a couple of years ago. For some individuals, this may not be an issue, however, for many more, it’s incredibly disruptive. Many workers hit “pause” on their careers in the spirit of finding happiness, satisfaction, and prosperity. Those dreams are squashed very quickly when household necessities cost 5% or 10% more than they did a year or two ago. Look for more workers to find positions that may check several (but not all) of their ideal workplace boxes until the economy is less inflated than it is today.
Businesses that lead with innovative talent acquisition models, including direct sourcing and AI-driven talent analytics, will fare better than other organizations. Artificial intelligence-led decision-making. Hiring managers with access to vast data oceans. Automated referral campaigns and digital recruitment marketing. The power of “Direct Sourcing 2.0” strategies. These are all innovative approaches towards finding the best-fit candidates; as businesses begin to harness the power of advanced talent acquisition solutions, combined with the benefits of AI-fueled data and predictive analytics, they will create the ideal environment in which to find, engage, and source the best-fit talent when, where, and how it is needed most. Too, the value of the remote and hybrid work models and their impact on talent acquisition cannot be understated; there is an increase in the availability of remote positions, and with business leaders expanding roles to those across the globe (instead of just their backyard), they are opening new channels of talent that can work from anywhere.