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The Truth About Cats & Dogs: What You MUST Know About Talent Acquisition Today

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Nobody has time for fake trends, especially recruiters.

Jonathan Kestenbuam, Managing Director of Talent Tech Labs, is here to separate myth from reality.

Published in: Recruiting & HR
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The Truth About Cats & Dogs: What You MUST Know About Talent Acquisition Today

  1. 1. THE TRUTH ABOUT CATS & DOGS What You MUST Know About Talent Acquisition Today
  2. 2. Customer Goals © 2019 OutMatch. All rights reserved. 3 Our products touch nearly 15% of the U.S. workforce annually OutMatch is the leader in predictive talent analytics
  3. 3. From First Look To First Day Jobvite is the first recruiting platform that spans the entire candidate journey.
  4. 4. April 23, 2019 New York TRENDS IN TALENT ACQUISITION TECHNOLOGY SEPARATE HYPE FROM REALITY
  5. 5. REALITY
  6. 6. JONATHAN KESTENBAUM MANAGING DIRECTOR | TALENT TECH LABS Lawyer Entrepreneur Investor Professor THIS IS ME 8
  7. 7. AS THE FOREMOST THOUGHT LEADER IN THE EMERGING TALENT ACQUISITION TECHNOLOGY SPACE, OUR MISSION IS TO FOSTER INNOVATION, AND THOROUGH COLLABORATION TO ACCELERATE TECHNOLOGIES TO ADOPTION TO IMPROVE THE STATE OF THE ART IN RECRUITMENT 9 THIS IS TALENT TECH LABS
  8. 8. 10 WE TRACK THOUSANDS OF COMPANIES
  9. 9. 11 BUYERS SCORE COMPANIES
  10. 10. 12 THIS ALLOWS US TO IDENTIFY TRENDS
  11. 11. 13 THE ECOSYSTEM
  12. 12. HYPE
  13. 13. 1
  14. 14. THE TALENT ACQUISITION ENGAGEMENT MODEL HAS EVOLVED
  15. 15. 17 INSIGHT: WE ARE GOING THROUGH A TRANSFORMATION REQS PEOPLE
  16. 16. CAREER SITES CANDIDATE RE-ENGAGEMENT CRM 18 ILLUSTRATIVE EXAMPLES ENGAGEMENT
  17. 17. 19 2 3 4 5 1 Unaware Reactive Proactive Active Steady State YOU ARE ON AN INNOVATION CYCLE
  18. 18. BE AHEAD OF THE CURVE
  19. 19. 21 TAKE ACTION ❖ Why: A 22% increase in utilization of CRMs at the enterprise level. 44% of all companies reported use of a CRM, with the majority of growth coming from large enterprises. ❖ When: Now ❖ How: Look at Career Sites, CRM, Candidate Re-engagement
  20. 20. 2
  21. 21. MATCHING TECHNOLOGY IS GETTING BETTER DUE TO ADVANCES IN ARTIFICIAL INTELLIGENCE
  22. 22. 22% 5% YES NO NOT NOW 73% 24 WHAT DOES THE DATA SAY
  23. 23. Machine Learning Natural Language Processing Deep Learning Leveraging Neural Networks 25 ASPECTS OF AI IN USE TODAY
  24. 24. Matching Recommendation Engine Predictive Analytics Contextual Language Recognition Facial Recognition Voice Recognition Writing Recognition 26 SERVICES AI IS DELIVERING
  25. 25. MATCHING SYSTEMS 27 ILLUSTRATIVE EXAMPLES MATCHING
  26. 26. BE AHEAD OF THE CURVE
  27. 27. 29 TAKE ACTION ❖ Why: We see Matching Systems have the greatest room for growth with a current foothold of only 12%. For recruiters who are overwhelmed with too many resumes to review, and for those who can’t find candidates buried deep within their ATS, matching systems promise tremendous relief. ❖ When: After you have an ATS and CRM ❖ How: Look at Matching Systems
  28. 28. 3
  29. 29. BOTS ARE NOT DOING A GOOD JOB AT ARTICULATING VALUE
  30. 30. CHAT VOICE VIDEO 32 ILLUSTRATIVE EXAMPLES BOTS
  31. 31. BE AHEAD OF THE CURVE
  32. 32. 34 TAKE ACTION ❖ Why: TTL predicts massive growth in the adoption of Bots. Today just 8% of companies report deploying bots and adoption was recorded mostly at large and medium-sized businesses. ❖ When: After you have a CRM ❖ How: Look at Bots
  33. 33. 4
  34. 34. ASSESSMENTS ARE BEING ADOPTED FOR ENTRY LEVEL ROLES
  35. 35. SKILL BASED ASSESSMENT BEHAVIORAL BASED ASSESSMENT SIMULATION BASED ASSESSMENT 37 ILLUSTRATIVE EXAMPLES ASSESSMENT TOOLS
  36. 36. BE AHEAD OF THE CURVE
  37. 37. 39 TAKE ACTION ❖ Why: Assessment tools are being more widely adopted in recent years. Adoption of skill and behavioral assessments have each penetrated about 50% of the market. ❖ When: After you have an ATS and CRM ❖ How: Look at Simulation-based Assessments, Skill Assessments, Behavioral Assessments
  38. 38. 5
  39. 39. FREELANCE PLATFORMS HAVE EMERGED TO SERVICE A NEW CATEGORY OF TALENT
  40. 40. 42 THE TECHNOLOGY INVOLVED YOUR COMPANY FREELANCE MANAGEMENT SYSTEM VENDOR MANAGEMENT SYSTEM FREELANCER#1 FREELANCER#5 FREELANCER#3 FREELANCER#6 FREELANCER#2 FREELANCER#17 FREELANCER#8 FREELANCER#4 STAFFINGFIRM #1 STAFFINGFIRM #5 STAFFINGFIRM #3 STAFFINGFIRM #6 STAFFINGFIRM #2 STAFFINGFIRM #17 STAFFINGFIRM #8 STAFFINGFIRM #4 TEMPORARYLABOR MARKETPLACE
  41. 41. FREELANCE MANAGEMENT SYSTEMS 43 ILLUSTRATIVE EXAMPLES FREELANCE
  42. 42. BE AHEAD OF THE CURVE
  43. 43. 45 TAKE ACTION ❖ Why: In the right scenarios, TTL see’s massive growth coming for Freelance Platforms, as they only penetrate 5% of the market currently. ❖ When: After you master full-time hiring ❖ How: Look at Freelance Management Systems
  44. 44. TAKEAWAYS
  45. 45. 47 TAKEAWAYS PEOPLE: The process is tech AND touch, people need to engage and technology compute. PROCESS: Depending on where you are on the innovation cycle you need to focus on leveraging certain technology first. TECHNOLOGY: Focus on solving your business problem and don’t get distracted by features and functionality.
  46. 46. LET’S COLLABORATE
  47. 47. PROCUREMENT STAGE PLANNING SELECTING NEGOTIATING IMPLEMENTING CAPABILITY GUIDE BUSINESS VALUE CALCULATIONS 49 WE CREATE RESEARCH REPORTS
  48. 48. 50 WE DELIVER WISDOM WISDOM KNOWLEDGE INFORMATION DATA Analyst Time Research Reports Free Content Blog Posts
  49. 49. TACTICAL SUPPORT Assessment - Assessment of current technology stack with benchmarking from similar buyers. Trend Update - Executive briefing on talent acquisition technology trends. Ideally meant for the full Talent Acquisition team. Executive Briefing - Executive briefing on any talent acquisition technology topic. Vendor Bake off - Deep dive into a particular business problem with live demos from vendors. Research Purchase - Purchase a report focused on a specific area of TA tech. ONGOING STRATEGIC SUPPORT Continuing Education - Our online research portal that houses 5 years worth of research to provide guidance and depth to TA teams to keep their knowledge relevant of the space. Decision Support ● Advisory Hours - Subject Matter Experts available to help across the decision-making process from discovery to buying ● Provider Snapshots - Saving time but narrowing your focus to the solution providers that address your challenge Collaboration - Having a diverse group, makes all of us smarter. Twice a year gather to share/gain insights from each other and discuss what’s t come. Shape future innovation to your needs. WE OFFER ADVISORY SERVICES
  50. 50. QUESTIONS
  51. 51. 307 West 38th Street #1301 New York, New York 10018 Address J@talenttechlabs.com (516) 567-5665 www.talenttechlabs.com Phone & Email Facebook.com/Jonathan.Kestenbaum Twitter.com/Jkestenbaum Linkedin.com/in/jonathankestenbaum/ Social Media CONTACT DETAILS

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