The Infinite Potential of Human Resourcefulness, Part I: A New Chapter in Talent.

In the past, there seemed to be a lag time between HR — and the business. Conversations went something like this; ‘That new business model we implemented is really working. We’re going to need to hire some more people!’ Or ‘Well, that campaign we launched really didn’t get the desired results we were hoping for. Looks like we’re going to have to let some people go…’.

Instead of being Strategic Partners with Leadership, many HR functions essentially served the business. But not anymore. Now HR needs to lead and enable — from the front lines, helping business define what they do. AI is helping HR step up and drive the Talent agenda.

What is Going on with Talent?

HR professionals across the globe are quite aware that everything has just changed in their line of business. Keeping up with, and understanding, both the reasons for change and what to do about them becomes, well… a full-time job! Let’s first look at the colossal shifts in HR, or more correctly — the world — that are demanding this level of transformation within organizations.

Disruptive new business and organizational models, as well as innovative new entrants powered by Cloud, AI, and Digital re-invention, are constantly pressuring organizations to be evermore rapid and efficient. Speed and agility are now critical competitive capabilities. Constant cost pressures and activist shareholder demands mean the fastest, most flexible organizations will win.

Pivoting Positions of Power

Data, AI, and Automation are driving the need for a breed of new, inventive, digitally-fluent employees — which puts talent in short supply — and candidates in a position of power. Employees have new expectations and are demanding that their experiences should be consumer-grade: empowering, self-directed, and transparent. Data-driven decision making to create increased value requires new levels of real-time information — and if the organization cannot provide that to their employees — the talent you fought so hard to hire simply will not stay.

And by the way, new world competition for contemporary talent disregards industry boundaries. Technology experts do not play favorites, which means every company competes for talent against each other. Everyone has joined the fray. A people-centric employee experience is now a competitive weapon — and an imperative — it also requires a radically improved customer experience.

Getting Personal — And Fast!

Due to evolving demands, candidates and employees alike expect a highly personal, social, digital, and mobile experience from employers — one that rivals their own everyday consumer experiences. As information continues to expand exponentially, the ability to access and make sense of data will be a challenge and also crucial in making even basic business decisions.

And what about the employers themselves? Being employees as well, those in the recruitment space will also want a rewarding experience. They’ll want a technology that sorts through a plethora of candidate information, structured and unstructured — and ascertains that Talent Acquisition information is pertinent, absolute, and instantaneous.

The Move from Resource — to Resourcefulness

Enabling employee development and building leaders who can manage dynamic work forces to foster growth has become the new, urgent imperative for HR — and business success. Front runners already know that hiring today is not based on what people have done — but what they will do. Forward-thinking talent professionals are hiring for capacity over capability, mainly because no one can be sure what technology, challenge, or opportunity waits for us around the corner. But we do know we’ll need to be ready for it.

Renewable resources are more powerful than disposable skills, which means organizations need to be designed around change, and that begins with people. We can no longer focus on a finite set of human resources, but rather the infinite potential of human resourcefulness. In a rather eloquent way, this HR revolution starts with people — who think about people. The only firms that will survive this next wave of global business transformation are the ones that make it satisfying for employees to come to work. Period. Employees of tomorrow will want a relaxed creative atmosphere, the latest technology — and perhaps most importantly — a chance to make a difference.

Good Bye Digital Transformation. Enter Exponential Innovation.

Undeniably, we’re entering a new era of advanced technology that is revolutionizing the way we work. Artificial intelligence and cognitive computing is changing the playing field — forever. Over the last few decades, digital transformation has been the major challenge facing businesses. But most major companies have already passed the major hurdles of digital conversion, as 72% expect to be done with that metamorphosis within the next four years.

So, the next tier of business — and life — transformation will not be digital. Instead it will be AI-powered talent transformation. This means the HR team is now at the helm of driving business success — which calls for organizations to entirely rethink the purview of HR. Talent leads will have to figure out how to empower people with the cognitive capabilities needed for perpetual reinvention. No short order.

Process vs Progress

Process just doesn’t mean progress anymore. We have officially moved past a process economy — and now find ourselves on the precipice of a boundless economy based on innovation. The organization of the future will be talent-centered and technology-enabled with HR at the heart — and at the helm.

The Declining Half-Life of Skills

The declining half-life of skills means there’s no time to stand still. Those who choose to run with the bulls had better take a close look at the list of expectations from HR professionals. They are not for the faint of heart. If you think about it — it’s almost too much to ask! Talent teams will have to take much of what their careers have taught them — and throw it out the window. Not the final decision on if the individual in front of them is someone they would trust and like to work with, of course. But pretty much everything that got that candidate in the seat will be from new models, new technology — and new thinking!

Are HR professionals ready for the quest before them? The Gig Economy? WeWorks? Namely? How will HR handle this metamorphosis and become, as many predict — the most integral function in corporate structures going forward?

Is Artificial Intelligence (AI) the Answer?

AI has the capability to transform the HR industry by allowing highly personalized experiences, automating workflow, refining recruitment, decreasing hiring biases, and building high quality, accurate prediction models. As a result of incorporating AI into HR, the industry will become more productive, efficient, and cost-effective!

Clarity

But how will the massive improvements predicted by investing in AI come to pass? One important aspect is Clarity — Illuminating talent with talented machines. Today the talent landscape still feels opaque. We have more transparency into the talent landscape than ever before, regarding how we are able to see what people say, do, and care about — but we are left with quantity — not quality.

Despite the potential translucence, we still can’t see the full potential of our talent, which leaves us making reactive decisions. In today’s information-rich world, there’s no excuse for making decisions in the dark. In a 2017 Gallup Poll, 91% of employees say the last time they wanted to switch jobs, they had to leave their employer to do so. At the same time, organizations say they wouldn’t rehire 39% of recent hires. That stat alone is staggering. We have to use technology not just to see more, but to see more clearly. Cognitive technology will enable us to make faster, smarter decisions with insight and foresight, empowering HR to lead from the front and define the path ahead.

Humanity

Another gift AI will bestow upon us is what we refer to as the ‘empowerment of humanity’. We believe that technology, well-employed, can liberate people to achieve more. Digital technology enables efficiency at scale, but cognitive technology enables empathy at scale. Forward thinking Tech Giants like IBM have invested in building technology that augments, not detracts from, the human experience. Technology that enables deeper connections, more joyful collaboration, more thoughtful listening, and more caring service. Technology that enables HX — the Human Experience! Because while the future is technologically-driven, it is human-led. And even in this age of automation, humanity is our most valuable resource.

Don’t miss The Infinite Potential of Human Resourcefulness: Part II — Man and Machine — May I have this dance? where we take a closer look at AI at work in HR. OK, we buy it — now how do we build it??