Way back in 2005, in his now classic book, The Singularity is Near, futurist Ray Kurzweil described an eminent and optimistic future in which human life would merge with machines. This “singularity” would usher in a new age of unpredictable growth and change.
Talent acquisition is now on the verge of its own singularity. The tools and processes we have used to recruit, interview, and retain talent for a hundred years will experience a seismic shift brought on by the twin tsunamis of big data and artificial intelligence. As organizations continue to improve their data capture capabilities, AI will gradually become better at identifying complex relationships among data points. For example, instead of wondering or guessing the type of background that leads to the most success as a call center agent, statistics will conclusively reveal the ideal profile.
The Power of Big Data
Full data capture and analysis provides TA teams with a number of powerful capabilities:
- Hiring managers and recruiters will receive highly predictive and unbiased indicators of candidate fit without having to wade through endless resumes, application forms, background checks, interview results, and assessments. As new candidate information flows in, the overall indicators can be automatically updated to take data into account.
- Candidates can receive real-time, relevant feedback on their fit for various positions. There is also no need for them to reapply to new jobs within your company because your algorithms will save their records and match them with new positions as soon as they’re available.
- Your talent mobility system will automatically identify qualified internal candidates for relevant development opportunities and open positions that match their skill sets and experience.
- Your TA team can view simple scores showing the overall effectiveness, efficiency, and ROI of your hiring process — meaning there will never be any doubt about how well each hiring tool is working or whether it is worth the cost.
- The executive leadership team can also check your real-time talent scoreboard to see exactly how well your tools are working to elevate the performance of your company.
Big Data Is Only As Good As Access to It
While there are plenty of powerful benefits of big data and AI in TA, there is still a significant barrier preventing us from leveraging their true potential: access to the data in the first place. For all of the talk of big…