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Creating the Vision for Next Generation Talent Acquisition
The document outlines the evolving landscape of talent acquisition, emphasizing the need for HR to adapt to changes in workforce demographics and technology. It discusses Recruitment Process Outsourcing (RPO), its definitions, market growth, and the importance of integrating advanced technology such as AI to improve hiring processes. Key strategic imperatives for HR include decision-making on building or buying recruitment solutions and employing advanced analytics for better workforce planning.
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Creating the Vision for Next Generation Talent Acquisition
- 1. The Evolving RPOValue Proposition CREATING THE VISION FOR NEXT GENERATION TALENT ACQUISITION #talentmindset @cielotalent
- 2. 1WE BECOME YOU™ INTRODUCTIONS ANGELAHILLS Chief Revenue Officer @angelahills PAULA PARFITT Senior Vice President @parfittpaula
- 3. THE WORLD IS CHANGING. TALENTACQUISITION MUST REACT.
- 4. 3WE BECOME YOU™ THEWORLD IS CHANGING The gap between the growth in demand and the growth in supply of talent Source: Global Talent 2021: Towers Watson/Oxford Economics (2012) Deficit Surplus Broad Balance
- 5. 4WE BECOME YOU™ THEWORLD IS CHANGING Growing, younger workforce in emerging markets. Shrinking, older population in developed markets.
- 6. 5WE BECOME YOU™ THEWORLD IS CHANGING 10 Jobs Likely to Be Replaced by Robots by 2025 1. Truck Drivers 2. Architects 3. Insurance Brokers and Underwriters 4. Surveyors/Geographers 5. Emergency Service Dispatchers 6. Bank Tellers 7. Paralegals/Attorneys 8. Mechanical Drafters 9. Customer-facing Food Service Workers 10.Mortgage Brokers
- 7. 6WE BECOME YOU™ NOWIS THE TIME TO ACT Top Five Imperatives for HR Functions
- 8. 7WE BECOME YOU™ NOWIS THE TIME TO ACT Two Fundamental Options – Build or Buy
- 9.
- 10. 9WE BECOME YOU™ RPODEFINITIONS EVEREST GROUP “Transfer of ownership of all or part of recruitment processes or activities on an ongoing basis.” ABERDEEN GROUP “Outsourcing one or more elements of the recruiting process. These elements can include, but are not limited to: sourcing, job advertising, screening, assessments, interviewing and selection, background verification, drug testing, offer extension, onboarding and orientation.” CIELO “Partnering with an expert to design and execute a customized process that delivers exceptional business results. Working together collaboratively and seamlessly to transform your organization’s approach to talent acquisition.”
- 11. 10WE BECOME YOU™ RPOMARKET SIZE AND GROWTH 1.1 1.8 2.8 2010 2013 2016 US$ billion CAGR
- 12. 11WE BECOME YOU™ EVOLUTIONOF RPO SOLUTIONS Core permanent recruitment leveraging an ATS resulting in: • Cost reduction • Time to hire reduction • Process efficiency • Process standardization RPO 1.0 plus a CRM, resulting in: • Agility & flexibility • Access to scarce talent • Reduced early stage attrition • Improved employer brand • Ad hoc strategies for specialized talent • Basic value-added services: • Talent communities • Basic analytics • Operational workforce planning RPO 2.0 plus RPA and AI, resulting in: • Alignment of workforce planning to overall business strategy • Talent viewed as strategic differentiator • Holistic recruitment of all talent types (Total Talent Acquisition) • Focus on candidate experience • Quality of Hire linked to performance • More value-added services: • Employer branding • Predictive analytics • Strategic workforce planning • Demand management • Outplacement • Pre-employment • Onboarding
- 13. THE INTEGRAL ROLE OFTECHNOLOGY
- 14. 13WE BECOME YOU™ ADVANCEDANALYTICS From Descriptive to Predictive and onto Prescriptive RPO 2.0 ANSWERS • Type, source, quality and cost of talent • Time for which talent is required RPO 3.0 ANSWERS • Which is the best option: a permanent hire in the U.S., a freelancer from China or an internal shift from Germany? • Quality of hire scores based on parameter correlation • Likelihood of attrition in the next 6 to 12 months
- 15. 14WE BECOME YOU™ TALENTACQUISITION TECH ECOSYSTEM
- 16. 15WE BECOME YOU™ AUTOMATIONIN PRACTICE • ROI on RPA requires stable, high-volume processes • High startup costs, recoup of labor costs at 6-12 months Cielo Client Example Humans RPA Annual Transactions 40,000 40,000 Time per transaction 15 min 1 min Error rate 15% 8% $- $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 Cumulative Cost RPA Manual Job Opening Process Expected 3 year ROI: 400% Breakeven: 5.2 months
- 17. 16WE BECOME YOU™ USINGAI FOR IA Artificial Intelligence makes for Intelligent Automation 3,442 of ~11,473 hires resulted from intelligent automated sourcing
- 18. REALIZING RPO 3.0 SIXTIPS TO BENEFIT FASTER
- 26. 25WE BECOME YOU™ YOURNEXT STEPS 1. Visit cielotalent.com/360 2. Download the worksheet 12 Dimensions of Talent Acquisition Prioritization 3. Complete the worksheet 4. Have your key stakeholders complete the worksheet 5. Compare and align