Podcast Audio Transcript
Mimi: Hello listeners, this is Mimi; thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today, we are discussing about the future of talent acquisition. And to talk about this, we have here with us, Rajshekhar Bhide, AVP & Head of Talent Acquisition at Infosys BPM. Welcome Raj. How are you today?
Raj: I’m doing well, Mimi. Thank you for having me on this platform.
Mimi: Excellent! So, let's begin. As we understand, by embracing technology interventions, organizations can transform their talent acquisition processes, making them more efficient, data-driven, and aligned with their business objectives.
Could you give us an overview into the future of the talent acquisition process?
Raj: Absolutely, Mimi. The world of talent acquisition is evolving rapidly; technology interventions are poised to play a pivotal role in shaping its future. The future holds the potential to streamline and optimize the entire talent acquisition process, enabling organizations to attract, evaluate, and hire top talent more efficiently and effectively. I will talk about three few key trends for the future of talent acquisition.
Firstly, an intelligent sourcing platform will scan various online channels, social media platforms, and professional networks to identify and engage with passive candidates who possess the desired skills and qualifications. These platforms can provide comprehensive candidate profiles, enabling recruiters to make data-driven decisions in their talent acquisition efforts.
Secondly, automated screening and assessment: Manual resume screening and initial candidate assessments will become automated processes. AI-powered screening tools will analyse resumes and applications, extracting relevant information and assessing candidates against predetermined criteria.
Thirdly, data analytics and predictive hiring: Talent acquisition will increasingly rely on data analytics and predictive models to enhance decision-making. By analysing vast amounts of candidate and employee data, organizations can identify patterns, trends, and success factors. Predictive analytics will enable recruiters to forecast the likelihood of candidate success in specific roles, improving the accuracy of hiring decisions and reducing turnover rates.
Such technology interventions will help organizations overcome biases, and promote diversity and inclusion in talent acquisition as well.
Mimi: I agree. The tech-powered talent game will be quite game-changing. I hear there are some specific aspects to the talent acquisition process, which make it quite complex.
Could you touch upon the complexity and inner-workings of the ever-evolving talent acquisition process?
Raj: Yes, as you say the process is on a continuous evolution path. We now have two distinct aspects to consider. The first part is what I call "core talent acquisition." This involves understanding the changes, growth rates, and identifying the types of individuals required. It's about analysing the market and determining where to source the right people. This strategic part focuses on fulfilling the organization's talent requirements.
The second part is "coordination" and involves managing the operational aspects of talent acquisition. It's all about bringing in the profiles, organizing interviews, and facilitating the selection process. In a way, it's the bridge between sourcing candidates and making job offers. This part requires efficient processes and operations to ensure a seamless journey from sourcing to selection, and selection to offer.
Mimi: Very interesting, Raj. As an analogy, sourcing is direct acquisition, while the rest of the process is part of operations.
If I understand correctly, there is a sales aspect in talent acquisition?
Raj: Absolutely, Mimi. Once the operational part is taken care of through automation, the role of talent acquisition will primarily revolve around selling. It's no longer just about acquiring talent; it's about candidates selling themselves to us, and us selling our value proposition to them.
The core function of talent acquisition will shift to sales and building relationships. This paradigm shift is a massive opportunity for organizations to leverage technology and transform their talent acquisition processes.
So, for most organizations exploring this, the level of maturity and acceptance in the market may still be limited. Our focus is not solely on automation but rather on the transformation of talent acquisition into, essentially, a sales department.
Mimi: That’s great. The aspect of building relationships is essential in the long run as well, for an organization to retain talent and grow with a strategic mindset.
And what specific benefits do you think such a modified and technology-based approach will have?
Raj: That’s a great question, Mimi. AI-powered future talent acquisition platforms will have enormous benefits.
Mimi: Those are some really enormous benefits, Raj.
I would like to thank you for your time in today’s podcast with us. I am sure our audience would have got great clarity on the topic.
- Improved efficiency: AI and automation can expedite various stages of the hiring process. This can significantly reduce the time and effort required for tasks such as resume screening, candidate assessments, and interview scheduling, enabling recruiters to focus on higher-value activities.
- Enhanced candidate experience: Through features like automated interview scheduling, virtual assessments, and personalized interactions, candidates can have a more engaging and efficient hiring journey.
- Data-driven decision-making: We can collect and analyse vast amounts of candidate data, providing actionable insights to recruiters and hiring managers. This helps us make more informed decisions, identify patterns and trends, and predict candidate success in specific roles.
- Reduction in bias: AI-powered talent acquisition platforms can mitigate unconscious biases in the hiring process. By standardizing assessments and removing demographic identifiers during the initial stages, such platforms promote fair and unbiased evaluation, fostering diversity and inclusion in recruitment.
- Scalability and global reach: Technology allows organizations to scale their hiring efforts efficiently. With features like intelligent sourcing and virtual interviews, recruiters can access talent globally, breaking geographical barriers and expanding the talent pool.
- Cost savings: By automating time-consuming tasks and streamlining the hiring process, we can potentially reduce recruitment costs. This includes savings in terms of time, effort, and resources required for manual screening, assessment, and coordination.
Raj: It was a pleasure, Mimi. Thank you.
Mimi: Dear listeners, if you enjoyed our podcast today, please don’t forget to share and like it on social media. Our social handles are mentioned in the podcast page. The podcast will be available on various platforms like Google Podcasts and Spotify, in addition to our website.
Also, if you have any queries, do reach out to us through the email address on the podcast description. Watch this space for more exciting podcasts coming up. Once again, thank you for tuning in, stay safe and stay sharp. Have a nice day!