cheers to the future! - staffing industry analysts · 2020-06-06 · 75% of talent leaders ......
TRANSCRIPT
Demystifying AI & the Future of Work
Sarah LawlessSenior Manager: InsightsLinkedIn
Cheersto the Future!
Globalization
Income inequality
Non-linear career paths
Importance of purpose, passion,
and meaning
Ability to work
from anywhere
Rise of the gig economy
Skills gapAutomation
Outsourcing
The world of work continues to evolve
Social mediaInternet Email
@
Filing cabinet Offline databaseJob channels
Online database
Smart phones
Professional NetworksDigitalisation
Big DataAdvanced AnalyticsCloud
Multi-deviceIntelligent apps
Augmented realityPersonalization
Consumer
Recruitment
1980’s 1990’s 2000’s 2010’s 2011 2012 2013 2014 2015 2016 2017
Recruitment needs to be at the forefront of changeClient and candidate expectations are increasing, recruitment firms need to meet this head on
AI / Automation
Disruption on the labor market
Independent work
Sources: McKinsey, World Economic Forum; McKinsey
70%of Companies will adopt at least one
type of AI technology by 2030
65% of the jobs our future generation
will be required to do not exist today
~162M people in Europe and US alone
engage in some form of Independent work
Skills gap
AI / Automation
Gaining insights from data helps usnavigate the opportunities within the market
Independent work Skills gap
Data85% of companies will have expanded adoption
of user and entity big data analytics by 2022
Source: World Economic Forum: “The Future of Jobs 2018”
Independent Work offers solutions
• 48% of businesses surveyed expect to expand
use of contractors doing task-specialized work
by 2022
• 66% likely to hire new temporary staff with
skills relevant to new technologies
• 63% likely to outsource some business
functions to external contractors
11Source: World Economic Forum: “The Future of Jobs 2018”
Review business model– Temp vs Contract vs Perm — is your business model in line
with the current and future market conditions
– Is there an opportunity for your or your clients to hire
differently?
Upskill your recruiters & sales executives
– Understand your clients needs to be able to advise them
how to benefit from this trend: be that consultant
– Enable strategic conversations by arming your team with
market insights to help clients understand the trends you
are seeing and back up your advice: be their consultant
Understand market
– Market intel will help you to understand the industries,
skills and roles impacted and where the opportunities are
– Understand how to attract & engage with these workersIndependentworkers opportunityBecome a strategic partner to help clients thrive
2018’s Top 5 Emerging jobs are reflective of the Future of Work
Source: LinkedIn 2018 Emerging Jobs Report
Growing Skills require technical and “human” skills
Source: World Economic Forum: The Future of Jobs Report 2018
Know the market– Keep a close eye on the skills landscape as it evolves
– Top talent will be a commodity
Talent intelligence
– Know your talent pools to understand how to connect
people’s skills with the right opportunities
– Ability to demonstrate expertise for new and emerging
skills
Think broader
– Capabilities over qualifications (skills over schools)
– Understanding the intangibles
– Need multi-skilled, flexible candidates
Skills gapopportunityInnovate to provide for candidatesand clients
Difficulty of Automation HighLow
Hig
hLo
wV
alu
e A
dd
ed w
ith
Hu
man
To
uch
How will AI and ML likely impact recruiting activity?
• Resume collection/ parsing
• Database search relevancy
• Candidate matching
• Detecting diversity indicators
• Candidate sourcing
• Social profile aggregation
• De-duping databases
• Profile refreshing
• Recruitment marketing
• Community building
• Setting pre-screen criteria• Assessment basedon code depositories
• Making the close• Gauging interpersonal skills
• Nuanced understandingof candidate’s needs
• Hiring manager in-take meeting
• Gauging culture-fit
• Gaining strategic talent Insights
• Re-skilling
• Understanding team culture
• Candidate ranking
• Pre-screening/Assessments
• Negotiation/Persuasion
• Interview scheduling/Bots
• ATS Updating
• Data-driven Story telling
• Offer creation
• Candidatepropensity signals
• Nurture marketing
• Differentiatedcandidate experience
Reference: lnkd.in/ML-in-Recruiting
Person behind the profiles means we know:
Michael Leonard
Lives in Singapore
UX Designer
Passionateabout gaming
Open to startingnew career
opportunities
Passionate aboutGraphic design
Works at MediaCorp
Highperformer
Activelyapplying to jobs
What members say on their profiles (identity)
What actions they take on LinkedIn (includes both affinities & intentions)
What their words and actions say(inferences made via machine learning & AI)
LINKEDIN TECHNOLOGY
How we learn about the person behind the profile:
MEMBER DATA
AI/ML in action
New business models– Non-human alongside human labour offered
– New functions / client development
Labor market
– Reallocation of supply and demand of labor skills
– Opportunity to upskill middle skilled workforce
Business enabler
– Automate manual tasks for employees to spend more time
with candidates and clients, i.e. new interviewing
techniques such as VR or 3D video interviews
AI/automationopportunityTalent is everywhere but opportunityis not…
Open information and technology have created new realities.
What does thisall mean for the Global Workforce?
Universal Access
Endless Opportunity
Increased Intensity
How do I find quality talent?
How do I become astrategic talent advisor?
In the past 5 years, time to fill has risen
by over 50%
75% of talent leaderssay their team is key
to the company’s workforce planning
*Sources: CEB, LinkedIn Global Recruiting Trends 2018
UNIVERSAL ACCESS
How do I beat the competition?
57% of recruiters rate competition for talent as their top concern
ENDLESS OPPORTUNITY INCREASED INTENSITY
As the talent landscape shifts, new challenges arise
Source – LinkedIn Global Recruiting Trends 2018
71% of CEO’s view data on talent as a source of competitive advantage
79% of recruiters and hiring managers are likely to be using data in their hiring process within the next two years
We are going to see the biggest change in the HR profession overall, as analytics start to reinvent the way we work.
We are now starting to look for HR professionals that have the capabilityto understand, interpret, and leverage data.
Dawn Klinghoffer
General Manager of HR, Business Insights, MicrosoftSource – LinkedIn Global Recruiting Trends 2018
How do I future-proof my business and protect revenue streams?
How can I identify andbreak into new marketsand verticals?
Where can I identifynew prospects and winnew business?
What insights can I share with my clients to give them confidence in my ability to solve their needs?
How can I leverage data to justify my fees to my client?
How does my attrition rate compare to my competitors?
How can I use dataand insights to informmy client on theirrecruitment strategy?
How do I overcome candidate shortage?
In which marketsand verticals can Iexpand my business
How your business adapts to this Future of Work will be key to your success
AI/ML & leveraging Data will transform the role of TA into one of a talent consultant
Technology is here to enhance the human ability to deliver impact, and forward thinking businesses will rise to the top
3 KeyTakeaways
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Coming up…▪ Leadership Panel: Industry Leaders Peer Into the Future
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Moderator:– Barry Asin, President, Staffing Industry Analysts
Panelists:– Tom Bickes, CEO, EmployBridge
– Ted Hanson, President, ASGN Inc
– Ranjini Poddar, CEO & Co-Founder, Artech, LLC
– Joyce Russell, President, Adecco Group US Foundation
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