Talent Acquisition Strategies for the Fourth Industrial Revolution
The fourth industrial revolution (#4IR) is blurring boundaries between the physical, digital, and biological worlds. It is a fusion of advances in artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, quantum computing, and biotechnology, to name just a few.
?The 4IR is transforming not only how we live and work, but also how we relate to one another and to the world around us.??The changes brought about by the 4IR could??be
profoundly human-centric, with technology designed to augment?our abilities and enhance our experience of life.
?In this rapidly changing landscape, organisations will need to rethink their acquisition strategies to ensure they are able to attract and retain the best talent. Here are some key considerations for organisations looking to future-proof their talent acquisition strategies:
?Rethink The Job Description
?The traditional job description is no longer fit for purpose. With the rapid pace of change, job descriptions need to be regularly and dynamically updated to reflect the latest developments. Unfortunately, this area has a history of being neglected (at worst outdated) or immersed in bureaucratic HR processes (at best).
?The demand for a relevant and dynamic approach to job descriptions is big and includes a total rethink of how technology creates new roles or enhances existing ones.
?Embrace Digital Tools
?Digital tools such as social media, online job boards, and Applicant Tracking Systems (ATS) can help organisations reach a wider pool of candidates. They can also be used to screen candidates more effectively, saving time and resources. If not utilized effectively though, it can exclude talented people who do not fit rigid search parameters or who experience the process as cold and impersonal.
?Consider New Talent Pools
?The 4IR is creating new talent pools, such as freelancers, contractors, and remote workers. These workers are often more flexible and adaptable and can be an asset to organisations. The challenges in these areas are however complex and diverse, and specific strategies need to be developed to stay in contact with such workers and create a sense of loyalty without offering the traditional security of permanent employment.
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Build A Strong Employer Brand
?In the 4IR, employer branding will be more important than ever. Candidates will be looking for organisations that align with their values and offer a positive employee experience. Make sure that every step of the way in the acquisition process reflects the values and brand of the organization. For talented people, these are “moments of truth” that could lead to retention or early exit depending on how it is experienced. After all, one does not tee up a golf shot by pushing it into the ground, you make sure it has the best chance to go the length and distance required.
?Develop A Data-Driven Approach
?Data will continue to play a key role in the talent acquisition process. Organisations should use big data to identify trends, assess candidates, and improve their recruitment processes. For example, it is increasingly possible to identify sectors and even industries with a surplus supply of skills and to target acquisition strategies to the benefit of your organization. Use these in the most effective ways possible.
?Invest In Employee Development
?The 4IR will require organisations to invest more in employee development. Employees will need to upskill and reskill to keep pace with the latest technologies and changes in the workplace. Remember talent pools are internal and external to the organization, and a core strategy is that of readiness for current or future utilization.
?Create A Flexible Workplace
?The 4IR will require organisations to create a more flexible workplace where employees will need to work remotely, flexibly, and collaboratively. The culture changes to facilitate this need to be considered and incorporated into for example the Employer Brand, processes and procedures.
Focus On Diversity and Inclusion
?Diversity and inclusion will be critical in the 4IR. Organisations will need to create an inclusive culture that values the diversity of thought and experience. Research confirms that diversity benefits bench strength, innovation and collaboration. This is a key strategy not only in the talent acquisition process but also utilization, development and retention.