A change to how their view their responsibilities to their people, to their community, and to their partners. Every system, process, and tool are being overturned as we all question, “Does this serve us in this new world we’re living in?”
The new way of work is here. Organizations are expediting digital transformation projects to further team collaboration and efficiency to build an inclusive workforce that wins.
Because of that, a lot of the research that was done even a few months ago suddenly feels…outdated. To help sustain the conversation around how to build the “now” of work, we’ve curated the top statistics on the topics that matter most for TA leaders in 2020.
Diversity and inclusion are imperative for a company to succeed
In addition, there is a steady stream of studies where diversity is related to improved profitability (by up to 21% and 33% for gender and ethnic, respectively), innovation revenue, discretionary effort, and employee retention. The merits of diversity are magnified when an organization achieves a culture of inclusion and can scale D&I across the organization and particularly toward front-line workers. (Gartner, Hype Cycle for Human Capital Management Technology, 2020)
Data shows diversity gains in high-paying jobs, with a steady increase in racially and ethnically diverse candidates being hired into occupations with a median annual salary of at least $100,00. (iCIMS, Insights September Snapshot, 2020)
AI helps shift the role of the recruiter to be more strategic
By 2030, we expect software to replace two-thirds of cubicle worker jobs — those that include repetitive, manual tasks like accounts payable and data entry. But most of us will see our jobs transformed, not lost. Intelligent software, AI, robotic process automation (RPA) bots, or physical robots will take predictable tasks off our plates. (Forrester, The Future of Work Starts Now, 2020)
AI is making candidate sourcing, screening, interviewing, and onboarding more effective for organizations. AI is also able to cast a wider net, bringing attention to people whom employers might not have considered or who may not have been looking for work. Having more qualified candidates from the beginning shortens the process, enabling recruiter and hiring managers to dedicate more time to analyze HR data and focus on strategic workforce planning. (IDC, Unlock the Transformative Power of AI for HR, 2020)
A comprehensive talent acquisition approach includes internal mobility
The internal mobility conversation has been just that for many years — a conversation. By promoting internal mobility and pivoting recruiting efforts toward what is important to customers will be a key differentiator in the war for current and future talent management. (IDC, The Age of Strategic Talent Acquisition Has Arrived, 2020)
To support ongoing pandemic responses and prepare for subsequent economic uncertainty, the following technologies have attracted renewed interest: next-gen workforce management (including contact tracing), skills ontologies, employee productivity monitoring, learning experience platforms, workforce planning and modeling, and internal talent marketplaces…Internal talent marketplace platforms enable workers to explore growth opportunities, take on temporary “stretch” assignments, and build a portfolio of work that they can use to market themselves in pursuit of further work.(Gartner, Hype Cycle for Human Capital Management Technology, 2020)
Andthis all leads to an even better experience for candidates, employees
By expanding recruiters’ reach and potentially uncovering new sources and overcoming bias, virtual assistants can also support diversity and inclusion efforts. Additionally, their use to increase candidate engagement and support team responsiveness can improve the candidate experience.(Gartner, Hype Cycle for Human Capital Management Technology, 2020)
A growing number of organizations are investing in onboarding solutions to help decrease new-hire attrition, increase engagement, and expedite productivity. In this kind of environment, where employee tenure continues to diminish, it is critical that workers become productive as quickly as possible. (Gartner, Hype Cycle for Human Capital Management Technology, 2020)
Increasingly, employers are using onboarding software for additional employee transitions including promotions/transfers, acquisitions, and terminations. The offboarding process, previously focused on compliance, has also become an experience-driven process with organizations seeking to manage process delivery as well as encourage positive feelings for potential alumni to return.(Gartner, Hype Cycle for Human Capital Management Technology, 2020)
Looking for more insight on recruiting trends? VisitInsights, where our iCIMS team translates our proprietary system data into actionable insights.
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