Survival of the Fittest through Business Transformation
From time immemorial, mankind has been innovating and automating processes for efficiency and survival. One of the first, if not the first, great innovations was fire. Rubbing two stones together sparked off the ability to produce light and heat, to cook plants and animals, to clear forests for planting, to form tools, to keep predator animals away, and to burn clay for ceramic objects.
Inherent in our genome is our “survival instinct” without which man would have not made it this far. Adaptation to each changing environment and being able to innovate to meet each new challenge to survival is critical – whether in society as a whole or in business. And, just as “survival of the fittest” has contributed to the continuing existence of mankind, so it applies to the success or extinction of businesses.
If humans had not adapted and innovated they would now be extinct or still living in the dark ages. Could you imagine a world without a car to get from A to B, let alone an aircraft? We have come a long way from trekking hundreds of miles on foot to be able to circumnavigate the world in a matter of hours. Each generation for the past several centuries has seen its own industrial revolution. Mechanization in the 18th century; the emergence of new energy sources in the 19th century; and in the 20th century, we saw the rise of electronics; the transistor and microprocessor which spawned a new telecommunications and computer age which in turn opened the doors to space research and biotechnology.
And, today, we are experiencing the fourth revolution unfolding, borne by the creation of the Internet. This is the first industrial revolution rooted in a new technological phenomenon—digitization. Digitization enables us to build a new virtual world from which we can manage the physical world. Cause and effect can happen in real time driven by technologies such as the Cloud, Big Data Analytics and the Industrial Internet of Things. Communication and interactions between different players along with connectivity drive efficiency and productivity. And, as has occurred in past revolutionary cycles, there will be winners and losers: those who are willing to embrace innovation and automation, and those who will be late to the party and pay the price of lagging behind.
Human Resources, however, has been one of the areas that has not advanced significantly from when it first automated employee record keeping in the late 1960’s, then expanding that concept to a more robust Human Resources Information System introduced in the late 1980’s. However, its adoption did not really take off until the late 1990’s when the high-tech era started to take hold. The HRIS system is primarily a data depository for employees and automates the various aspects associated with managing employees once on-boarded but had little, if anything, to do with the talent acquisition, recruitment process.
The advent of technology into talent acquisition really came 20 years ago on two fronts. One in 1999 when Monster launched online job advertising, relegating printed job ads to the annals of history. The second was the introduction of the Applicant Tracking System, a depository for applicants’ resumes to be assigned to, primarily for compliance purposes. In other words, not much more than a digital filing cabinet.
Very little on a major scale has changed in the interim. Various tools were introduced to filter resumes using either keyword matching or Boolean technology (yes/no) responses but nothing that was a radical disruption or innovation to the talent acquisition process such as that which SalesForce.com brought to the sales process.
However, today, talent acquisition has the opportunity to catch up and become a part of the new digital automated, intelligent technological era. One such platform is the WFX Digital Talent Acquisition platform which manages from start to finish the entire recruitment operation through automated transactional process technology. From built in automated communications to ensure connectivity between the hiring company and the candidate; advanced proprietary algorithms using AI, match candidates position specific; an ever expanding database of qualified candidates; employee advancement; diverse hiring; and intra-company community networking seamlessly connect all aspects of the recruitment process.
In talent acquisition specifically, automation can:
Increase speed and efficiency
Enhance the talent pool
Select superior candidates – right person for the right job
Reduce wasted resources
Decrease hiring cycle time
Improve candidate, recruiter and hiring manager experience
Radically reduce costs
So we continue to evolve and embrace change – adopt and adapt technology – and further its applications on how we can become more efficient and effective in a fast changing, highly competitive and evolutionary world.