One section of your business isn’t innovating fast enough
HR leaders haven't changed their strategies in the past 12 months – and don't plan to either.
A report released this week has found that one in two businesses aren't innovating fast enough, and the stagnation may come from the human resources department. Despite the strong demand for flexible work in the gig economy, only 9% of leaders are hiring for this type of work and just 16% of leaders are recruiting via technology and digital.
The Recruitment Trends 2017 report by FuturePeople found a clear trend that organisations are lagging when it came to adapting to the gig economy and increasing influence of millennials in the workforce. It found that half of Australian businesses and HR leaders haven't changed their talent acquisition strategies in the past 12 months and indicated they don't plan to implement changes over the next year.
“Our report findings indicate that organisations are struggling to disrupt traditional methods of recruiting," said Linda Simonsen, CEO of FuturePeople.
"Most leaders still have a 'quick fix' mentality when it comes to hiring. In the last 12 months, nearly half of organisations have not embraced new software or technology to enable leaders to make better hiring decisions.”
The report noted that today's candidates expect organisations to have "a strong online presence and profile as well as seamless and innovative recruitment processes." However, the findings showed that in the past 12 months, one in three Australian organisations have not embraced new software or technology to deliver this.
While technologies such as artificial intelligence (AI) and big data can also assist recruitment teams, 30% of organisations that embraced new technologies in the last 12 months focused solely on social media for recruitment.
Technology can also help HR teams fill roles quickly, which was listed as the most important success criteria for recruitment in organisations with more than a quarter (27%) indicating this. Time to recruit was followed by the retention of placements (25%) and the feedback of the hiring manager (14%).
Worryingly, diversity quotas were the least most important success criteria with only 7% of respondents indicating this as a key to successful recruitment. Moreover, only 4% of those surveyed believed that diversity was key to getting recruitment right.
"To build a more diverse workforce, it’s crucial for organisations to leverage big data and AI, paving the way for more sophisticated processes that remove traditional and unconscious bias. Leaders can then refocus on the human characteristics and emotional competencies required for high performance," the report says.
If you're working towards an innovation strategy in your business, consider how each part of your business is embracing this strategy and how willing they are to adopt new technologies and approaches to help the business be successful.