Tuesday, February 13, 2018

AI- Bane or Boon for Recruiters?

Image courtesy HR Talent IQ

There are so many theories predicting dooms days ahead in the next 10-12 years
-McKinsey argues that demand for work will increase as automation grows. Technology will drive productivity growth, which will in turn lead to rising incomes and consumption, especially in developing countries. Meanwhile, there will be more jobs in health care to meet the demands of aging societies and more investment in infrastructure and energy. For these benefits to be realised, everyone needs to gain new skills, with governments and private companies taking on the unprecedented task of retraining millions of people in the middle of their careers.
- Accenture predicts that by 2030, the only full time jobs that exist would be the C-Suite roles. The rest would either be automated, or outsourced -and if not be done by freelancers.
With the reducing tenure of employment, it is anybody's guess that the present pricing models -linked to annual salaries would eventually change?
With the mortality rates of businesses increasing, would they be really invested in the careers of their employees?
Are we seeing larger companies building their own internal/in-house recruitment teams -and reducing the dependence on third party firms?
Do we see recruitment models being changed?
Recruiting is no longer about Networks and Convenience.
Is the future of recruiting in Candidate Management + Marketing! With thousands of firms selling to the same HR Audience, it definitely going to be getting tougher. The smart recruiters are going to leverage the digital tools to Market to Clients better and pull them in by creating specific and exclusive talent pools that they alone have access to?
Perhaps we would be better off -managing 'rejected' candidates, and building a niche talent pool- and managing their careers?
Just like private bankers help High Networth individuals manage their financial assets, do we, as recruiters have our roles cut out to become trusted advisors. Surely, for professionals, careers are much as a financial asset-that needs to be managed ?
What are your views on this? Would love to hear.

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