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PaaS, Personalization and the Candidate Chasm

Friday, May 12, 2017
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This is part of a special advertising section featuring forecasts on navigating changes and challenges.

HR professionals are by now very aware that the labor market is tightening, and accordingly, acquiring high-performing talent is becoming far more challenging. With lowered unemployment rates and countless new job-searching vehicles encouraging more career mobility among today's workforce, employers are faced with stiff competition and a clear need to refine their talent strategies to hire and keep their best employees. Recruitment technology, which has undergone its own metamorphosis in recent years, is leading the charge with emerging tools designed to better engage today's consumer-like job seekers.

A looming skills gap and talent shortages in crucial industries such as healthcare and manufacturing may be the catalysts that drive talent acquisition to top of mind for business leaders who have prioritized sales in the past. PwC reports that 77 percent of CEOs are concerned that key skills shortages, particularly elusive soft skills such as emotional intelligence and creativity, could impair their company's growth. Still, most companies have yet to invest in the same technologies for hiring that have been driving sales and marketing for years: big data analytics and predictive models enabled by platform-as-a-service.

Part of the reason that organizations haven't benefited from similar processes within the HR function is that the recruitment-software industry has become incredibly complex and there are countless solutions on the market designed to find, screen, hire and retain best-fit talent. It is undoubtedly stressful and time consuming to research, integrate and use multiple solutions, even when those solutions can ultimately help an organization recruit more efficiently. The average enterprise business uses 77 HR services and 97 percent of them are not well-integrated, according to Netskope. What a nightmare! The question is, how can software providers solve this issue and help relieve some of the burden put on HR professionals to manage such complex talent demands and come out on top?

This challenge presents the ideal climate for PaaS to finally emerge within the talent acquisition technology space -- one simple-to-use system of record that unifies all hiring tools into one common language and interface via powerful integrations. PaaS enables HR professionals to more easily shop for and integrate many recruiting apps to build a truly tailored, multi-point talent-acquisition strategy that is informed by full-spectrum performance analytics.

This also lays the groundwork for future in-platform AI capabilities, beginning with the logical collection and analysis of enormous amounts of candidate and employee data within a centralized system.

The introduction of PaaS represents a mastery of data and the natural maturation of modern talent-acquisition practices. In the past, hiring decisions were often guided by previous experiences and intuition. In the future, we'll continue to see a shift toward a data-driven decision model that provides a clear view of available talent and can help focus recruitment efforts more acutely.

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Bersin estimates that a mature talent-acquisition function is 2.6 times more likely to have a robust talent pipeline than an immature talent-acquisition function. This is a competitive advantage that employers simply can't pass up in such an intensified hiring environment. PaaS in this sense enables HR teams to efficiently implement and use the right tools, from candidate relationship management to background screening and talent management, then connect those systems through data integrations that can inform long-term measurements of success like quality of hire and retention.

PaaS lays the essential groundwork needed to advance AI capabilities in the HR space. AI will continue to become more embedded throughout the hiring process for both recruiters and job seekers; the more it is used, the smarter it becomes. In its early stages, it is already helping employers make stronger connections to prospective hires by adding transparency throughout the process through automated communications and job-matching capabilities.

Candidates are far more savvy than generations past, thanks to access to consumer-friendly technologies and the massive amounts of employer information available online. This, coupled with recent labor market shifts and related talent shortages, has put employers in a position to either adapt to the new hiring landscape or risk falling swiftly behind the competition. Personalization of the recruitment process is certainly a key component in the effort to close the chasm between candidates and companies, and it begins with a tailored, unified approach to talent-acquisition technology.

 

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