This week, I participated in a joint webinar with Albertsons Companies and Draup on Gen AI and new-age trends in Talent acquisition.  I posed a critical question to our experts: How can Talent Acquisition professionals secure their positions and achieve substantial career growth amidst the uncertainties of Staff optimization?  Here are the key areas where Talent Acquisition experts should deepen their expertise

• Compliance: Keep abreast of rapidly evolving local and national regulations regarding job postings, pay transparency, and other requirements.
• Engagement: Elevate the experience for key hires to the level traditionally reserved for executive hires, potentially extending this to all hires.
• Rework KPIs: Transition from volume-driven to impact-driven Key Performance Indicators, which merits further exploration and understanding.
• Internal Talent Utilization:  Before creating new roles, assess whether existing internal resources can meet the need with potential reskilling.
• Embracing AI: Overcome hesitancy towards artificial intelligence by taking courses and becoming proficient in AI applications.
• Digital Tech Stack: Gain a thorough understanding of the digital technologies your company is implementing, enhancing your skill set beyond basic knowledge.  HR has typically done well in understanding skills but not the associated digital tech stack.
• Reimagine Talent Intelligence:  Reevaluate your understanding of operational locations, noting dynamic changes and emerging areas in Central America, India, and North America.
• Automation of Commonly Outsourced TA Tasks:  Reassess tasks currently outsourced to identify those that could be automated with Generative AI, optimizing tactical workflows.

One area where we are passionate at Draup is the new job creation opportunities based on the digital impact in the organization.  David Autor, MIT Economist, in his working paper, showed that 60% of the jobs we have now did not exist in 1940 (Autor, D., Salomons, A., & Seegmiller, B. (2022). New frontiers: The origins and content of new work, 1940 to 2018 [Working Paper]. MIT Economics.)

By TA and WFP teams working together, companies can create the next generation of jobs that are practical and relevant (not very far-fetching jobs, but realistic jobs).  For example, looking at various emerging use cases in Manufacturing by looking at technologies and the associated skills will help us highlight the importance of Job roles like Industrial Automation Engineer.

A bias-free approach is critical:  This week, I came across a fascinating study done by the University of Maryland and Singapore Management University ( “Mixture Latent Markov Modeling: Identifying and Predicting Unobserved Heterogeneity in Longitudinal Qualitative Status Change” by Mo Wang and David Chan.).

The study examined longitudinal data spanning a decade involving 994 retirees.  Its objective was to identify the characteristics of individuals who continue working after retirement.  Rather than relying solely on conventional demographic analysis, the authors employed an innovative approach based on often overlooked grouping methods.  The findings indicated that an individual’s level of education, included in the model estimation, emerged as a significant predictor of whether they belonged to the subgroup characterized by sustained employment (‘stayers’) or the subgroup marked by post-retirement mobility (‘movers’).

A longitudinal way of analysis is always a useful tool for HR.  Maybe we will discuss this in detail in another email.

Summary:  TA and WFP can join hands and develop the blueprint for new jobs.  Such a plan will energize the enterprises as employees will see opportunities. A bias-free approach will provide greater results in this journey.