• Artificial Intelligence
    如何在2024年管理第三方风险:Venminder 的最新白皮书揭示了一切(白皮书) 肯塔基州伊丽莎白镇,Feb.2,2024   Venminder 是用于管理第三方风险管理计划的领先综合统一平台,发布了第八份年度“第三方风险管理状况”白皮书。该白皮书深入探讨了当今组织如何处理第三方风险,涵盖了当前实践、挑战、合规驱动因素和优势等关键方面。 第三方风险管理不是一种静态的实践,而是不断适应新的风险和监管要求的动态实践。过去的一年,世界面临前所未有的事件和挑战,例如三家地区银行的倒闭、各种监管变化、创纪录的数据泄露数量、人工智能的兴起及其风险等等,这些都表明制定有效的第三方风险管理计划是多么重要。这些发展甚至对最有经验的第三方风险管理专业人员提出了挑战,要求他们重新评估其计划的范围和有效性。 对于各种规模和行业的组织来说,第三方风险管理正变得越来越紧迫和重要。组织需要持续识别、评估、管理和监控第三方风险,现在可以利用Venminder的2024年白皮书将其绩效与同行进行比较。 Venminder首席执行官James Hyde表示:“第三方风险管理为组织带来了显著的好处,并帮助他们完善其治理、风险和合规管理计划。“通过阅读和审查我们调查中捕获的当前第三方风险管理环境和流程的数据、趋势和最佳实践,您可以深入了解您的组织与同行的对比情况,并用它来指导您今年及以后的计划改进。” 第三方风险管理状况调查揭示了以下主要发现: 第三方风险管理计划的成熟度总体上正在提高,71%的受访者表示他们已经完全制定了政策/计划(其中38%仍在进一步改进),17%的受访者表示他们已经制定了政策/计划,但流程尚未完全实施。 第三方风险管理活动被认为是有价值的,96%的受访者认为他们有积极的投资回报。 第三方风险管理计划在资源有限的情况下运作,58%的受访者拥有不超过2名专职员工。 软件工具被广泛用于促进供应商风险管理,77%的受访者依赖它们。 网络安全是第三方风险管理的主要关注点和挑战,51%的受访者在过去一年中经历过第三方网络安全事件。 人工智能给第三方风险管理计划带来了新的重大风险,需要更多的关注和监督。 第三方风险管理计划面临着越来越大的改进压力,68%的受访者感受到了这一点,其中34%的受访者将其归因于监管机构。 第三方风险管理的最大障碍是从供应商处获取正确的文档、拥有足够的内部资源以及有效地管理时间。 风险情报工具在监控第三方、第四方和第 n 方方面变得越来越流行,从而增强了可见性和控制力。 64%的受访者已经定义了衡量其第三方风险管理计划的健康状况、稳定性和有效性的指标。 三分之一的受访组织(37%)在过去一年中没有在审计或考试中发现任何结果,这表明其合规性和绩效水平很高,而28%的组织发现有需要改进的地方,17%的组织对其第三方风险管理没有反馈。 完整的调查结果可在Venminder的网站上免费下载,请点击这里。 Source Venminder
    Artificial Intelligence
    2024年02月05日
  • Artificial Intelligence
    The best HR & People Analytics articles of January 2024 2024 is set to be a momentous year. With economic uncertainty, rising geopolitical conflict, and rapid advances in technology, it is also set to be a stormy 12 months for the world, for organisations, and for HR professionals too. Perhaps this explains the slew of insightful resources in January, which has made compiling this month’s collection as challenging as it has been enjoyable. One of the key focuses has been on ‘productivity’, and I’ve brought together a number of resources on this topic. There are also new studies from the likes of PwC, McKinsey, Glassdoor, Accenture, and Deloitte as well as articles featuring practitioners from companies including Spotify, Microsoft, Ericsson, Lloyds Banking Group, and Standard Chartered. There’s lots to enjoy and learn from. Join me for a webinar on February 21 to discover how Leading Companies shift People Analytics from insight to impact Are you an HR or People Analytics Leader seeking to transform your organisation’s People Analytics from mere insights to impactful business outcomes? If so, I invite you to join me for a webinar that Insight222 is hosting on February 21. Naomi Verghese and I will walk through the findings from the Insight222 People Analytics Trends research, unveiling the distinctive characteristics of ABCD Teams that propel organisations to new heights. Naomi and I will be joined by Alan Susi, VP and Global Head of Organisational Analytics and People Insights at S&P Global. Alan will share insights into how S&P Global successfully elevated their approach to people analytics, turning data into tangible business outcomes. You can register for the webinar here – or by clicking the image below. Jürgen Klopp – a study in leadership, culture, and analytics As a fervent supporter, I’m still processing the totally unexpected news that Jürgen Klopp will be leaving his post as the manager of Liverpool at the end of the current football season. In his press conference on taking the reins at Anfield in October 2015, Klopp stated his goal was to turn Liverpool from “doubters to believers.” He has done this with some aplomb amassing a haul of seven trophies (to date) including the Champions League in 2019 and then, the following year, the Holy Grail of Liverpool’s first league title in 30 years. But Klopp is more than a brilliant football manager. He is the epitome of an empathetic leader. His emotional intelligence and natural humility not only endears Klopp to his players, but to supporters too for whom he is adored. The reaction to the news reduced many Liverpool supporters to tears. I’m still hoping – probably forlornly - that like Alex Ferguson in 2002, Klopp will change his mind and stay. In the likely event that he does depart, I’m sure that multiple studies will be made on Klopp’s time at Anfield, and that his leadership skills, use of data and analytics, and ability to build an inclusive winning culture will be deservedly celebrated. YNWA. Looking for a new role in people analytics or HR tech? Before we get to this month’s collection of resources, I’d like to highlight once again the wonderful resource created by Richard Rosenow and the One Model team of open roles in people analytics and HR technology, which now numbers over 500 roles. Looking for a people analytics event to attend in 2024? Richard Rosenow has also been busy compiling a study of People Analytics Conferences to attend in 2024 with the data collected from practitioners themselves. Society for Industrial and Organizational Psychology (SIOP), People Analytics World and the Wharton People Analytics Conference all come out well as does the Insight222 Global Executive Retreat. Thanks to Richard for putting this together. Share the love! Enjoy reading the collection of resources for January and, if you do, please share some data driven HR love with your colleagues and networks. Thanks to the many of you who liked, shared and/or commented on December’s compendium (including those in the Comments below). If you enjoy a weekly dose of curated learning (and the Digital HR Leaders podcast), the Insight222 newsletter: Digital HR Leaders newsletter is published every Tuesday – subscribe here. THE QUEST FOR PRODUCTIVITY MCKINSEY - 2024 and beyond: Will it be economic stagnation or the advent of productivity-driven abundance? | PwC - 27th Annual Global CEO Survey: Thriving in an age of continuous reinvention | JOSH BERSIN - HR Predictions for 2024: The Global Search For Productivity | ERIK BRYNJOLFSSON - How AI Will Transform Productivity | BEN WABER AND NATHANAEL J. FAST - Is GenAI’s Impact on Productivity Overblown? When I talk with CHROs and People Analytics Leaders at the companies we work with at Insight222, one of the words I’m hearing most at the moment is ‘productivity’. Continuing economic and geopolitical uncertainty, the promise of AI, and challenging talent demographics are all fuelling the demand for productivity from CEOs. Here are five resources that can be filed under the ‘productivity’ umbrella: (1) McKinsey’s Ezra Greenberg, Asutosh Padhi, and Sven Smit present a model for businesses to capture the three-sided productivity opportunity (see FIG 1). (2) Amongst a ton of takeaways, the standout theme from the annual PwC CEO survey is that the vast majority of participating companies are already taking some steps towards reinvention, while CEOs believe that 40% of their work is wasted productivity (see FIG 2). (3) Josh Bersin draws from the PwC survey in his 2024 predictions, where he outlines The Productivity Advantage where “If you can help your company move faster (productivity implies speed, not only profit), you can reinvent faster than your competition.” (4) Stanford professor Erik Brynjolfsson offers leaders an overview of how AI will transform productivity. (5) Finally, Ben Waber and Nathanael Fast’s absorbing essay in Harvard Business Review cautions leaders on leaning into the hype on GAI’s supposed positive impact on productivity too heavily. The authors break down two of the key challenges with LLMs: a) their persistent ability to produce convincing falsities and b) the likely long-term negative effects of using LLMs on employees and internal processes. FIG 1: The three-side productivity opportunity (Source: McKinsey) FIG 2: CEOs estimate administrative inefficiency at 40% (Source: PwC) GERGELY OROSZ AND ABI NODA - Measuring Developer Productivity: Real-World Examples Continuing the productivity theme, this is an invaluable resource by Gergely Orosz and Abi Noda in The Pragmatic Engineer newsletter. It provides detail on developer productivity metrics at 17 tech companies including Google, Microsoft, Spotify, and Uber (see summary in FIG 3). FIG 3: Developer productivity metrics at 17 tech companies (Source: Pragmatic Engineer) 2024 HR TRENDS AND PREDICTIONS JASMINE PANAYIDES - Nine Ways to Put HR Trends and Predictions into Practice in 2024 There has been a flood of articles advising what the key HR trends, predictions, and opportunities for 2024 are, but how are HR professionals supposed to make sense of these? In her article for the myHRfuture blog, Jasmine Panayides provides actionable tips on how HR professionals can apply the trends, predictions and opportunities to their work, and their organisations so they can deliver value to the company and the workforce. Jasmine also helpfully summarises the trends/predictions from a variety of sources into one table (see FIG 4), including from: Visier Inc., Gartner, Bernard Marr, UNLEASH, Mercer, and Culture Amp as well as my own 12 Opportunities for HR in 2024 article. FIG 4: Analysis of HR Trends and Predictions for 2024 (Source: myHRfuture) KATARINA BERG - HR Trends for 2024 | GARTNER - 9 Future of Work Trends for 2024 | GLASSDOOR – 2024 Workforce Trends | HUNG LEE - Forecasting 2024 in Recruitment Part 1, Part 2, Part 3, and Part 4 | KEVIN WHEELER - What Does 2024 Hold in Store for Us? | STACIA GARR AND DANI JOHNSON – 2024 Mega Trends and how people leaders should respond (Webinar) The deluge of commentators offering their HR trends and opportunities continued in January. As such, it is a challenge to sort the wheat from the chaff but in addition to those I highlighted in this compendium in December, and in Jasmine’s article above, I recommend diving into the following: (1) Spotify’s chief people officer, Katarina Berg, highlights ten trends with the common theme being each trend is a bridge, connecting the past with the future, and HR professionals are the architects crafting these vital links – including “Staying Human in the Age of AI – The Humanity Bridge”. (2) Gartner’s Jordan Turner and Emily Rose McRae highlight nine future of work trends for the year ahead (see FIG 5). (3) Aaron Terrazas and Daniel Zhao identify eight workforce trends based on Glassdoor’s data on workplace satisfaction, culture, and conversations. (4) Hung Lee is at the cutting edge of recruiting and HR tech, so his four-part series on recruiting in 2024 is definitely worth checking out – two examples include: “Multi-generational replaces neurodiversity as DEIB hot topic” and “Capital Allocation Shifts from Sourcing & Engagement to Assessment & Verification Tech”. (5) Futurist Kevin Wheeler offers seven insights and predictions together with his self-assessed certainty rating including “Generative AI will dominate, and every product will attempt to incorporate AI. 90% certainty” and “More firms will embrace a four-day workweek 50% certainty”. (6) Finally, I strongly recommend viewing the 2024 Mega Trends webinar hosted by Stacia Sherman Garr and Dani Johnson for RedThread Research, which breaks down the key macro factors impacting the world of work and how HR can respond. FIG 5: 9 Future of Work Trends for 2024 (Source: Gartner) GREG NEWMAN - 10 important topics that HR will likely ignore in 2024 Greg Newman takes an alternative, wry and contrarian approach by focusing his list of “predictions” on ten things most HR teams will continue to ignore in 2024. My favourite three are: (1) speaking the language of the business, (2) focusing AI conversations on ethics before technology, and (3) learning that good data is required to realise the dreams of AI and analytics. By aligning HR language with business terminology, we can more effectively demonstrate the value of our initiatives in a way that resonates with business stakeholders. GENERATIVE AI AND THE FUTURE OF WORK ELLYN SHOOK AND PAUL DAUGHERTY - Work, workforce, workers: Reinvented in the age of generative AI A new study from Accenture, co-authored by Ellyn Shook and Paul Daugherty, on how generative AI is impacting work, provides guidance on how leaders can: “Set and guide a vision to reinvent work, reshape the workforce and prepare workers for a generative AI world, while building a resilient culture to navigate continuous waves of change.” The report reveals a trust gap between workers and leaders on key elements related to GAI’s impact on work, the workforce, and workers. The authors also highlight four accelerators for leaders to navigate the journey ahead: (1) Lead and learn in new ways, (2) Reinvent work, (3) Reshape the workforce (see example in FIG 6), and (4) Prepare workers. FIG 6: Illustrative example of how work and roles can be reallocated in a GAI future (Source: Accenture) ROGER W. HOERL AND THOMAS C. REDMAN - What Managers Should Ask About AI Models and Data Sets The decision on whether to deploy AI models within an organisation ultimately lies with business leaders who may not be qualified to identify risks and weaknesses related to AI models and data sets. In their article, Roger Hoerl and Tom Redman provide (1) A framework (see FIG 7) designed to equip leaders with context and based on their concept of the right data. (2) A set of six questions for leaders to ask their AI model developers before and during modelling work and deployment. (3) Guidance for leaders on how to assess AI model developers’ answers to those six questions. FIG 7: The Right Data Framework (Source: Roger W. Hoerl and Thomas C. Redman) PEOPLE ANALYTICS STEVE HATFIELD, SUE CANTRELL, AND BRAD KREIT - Beyond the quick fix: How workforce data can drive deeper organizational problem-solving The premise of this thoughtful article by Steve Hatfield, Susan Cantrell, and Brad Kreit is that without the right context, even simple measurements can undermine efforts to convert people data into value. They then explore several examples – in the workforce, in the workplace, and in the work – where organisations might be limiting their analysis to the surface level and how deeper analysis can reveal systemic issues that lead to opportunities for transformation. Guidance on three actions leaders can take to help ensure they are not missing important context in their data analysis are provided: (1) Bring data from different domains and sources together for analysis. (2) Make sure you’re measuring what you should—not just what you can. (3) Identify potential biases in data collection algorithms. If organizations want to move beyond quick fixes and use work and workforce data to drive deeper—and often more challenging—problem-solving, it is important that they look at the data in context. NAOMI VERGHESE - How to Measure the Value of People Analytics My Insight222 colleague Naomi Verghese digs how to measure the commercial value of people analytics, highlighting a powerful case study from Jaesun HA and LG Electronics. Naomi provides detail on four key areas where people analytics adds value (business performance, workforce experiences, driving an analytics culture and societal benefit) as well as providing data on the characteristics of companies that ARE creating commercial value from people analytics (see FIG 8). FIG 8: Characteristics of people analytics that disclosed and measured commercial value of people analytics solutions (Source: Insight222 People Analytics Trends, 2023) ANDRÉS GARCIA AYALA - 5 Change Drivers Impacting People Analytics & How To Thrive In Them | WILLIS JENSEN - Attrition versus Retention: Which Should I Use? | KEITH McNULTY – Regression Modeling in People Analytics: Survival Analysis | LYDIA WU - The Market Sucks and You are Looking for a Job, Now What? | SEBASTIAN SZACHNOWSKI - 16 HR Metrics for IT | ERIN FLEMING AND NICK JESTEADT - People Analytics Perspectives from the Fringe: Current Priorities and a View on Optimized Teams in 2024 January saw a slew of articles from current and recent people analytics leaders, which typically act as a spur and inspiration for the field. Six are highlighted here: (1) Andrés García Ayala highlights some of the key change drivers impacting people analytics and ways to incorporate them into our work. (2) Willis Jensen builds on the recent primer on attrition metrics by Ben Teusch that I highlighted in December’s edition. He explains why we should be using attrition and retention as separate terms that lead to distinct metrics with different objectives (see also FIG 9). (3) Keith McNulty provides another indispensable practical guide for people analysts with a step-by-step tutorial to conducting survival analysis in R. (4) The prolific Lydia Wu turns her attention to providing some handy guidance for those looking for their next people analytics / HR tech role. (5) Sebastian Szachnowski provides a useful breakdown of 16 HR metrics for technology companies. (6) Last but definitely not least, Erin Fleming and Nick Jesteadt provide insights from their survey of fellow people analytics practitioners. Insights include a) 41% of respondents (n=49) operate as a one-person people analytics team, and ii) the main current focus areas of work include employee turnover, cultural engagement, return to office, and restructuring. FIG 9: When to use Attrition and Retention (Source: Willis Jensen) MAX BLUMBERG - The Big List of GPTs to Revolutionize Your People Processes | JOHANNES SUNDLO - GenAI for People Analytics Two articles addressing the opportunity for generative AI in the people space. (1) Max Blumberg (JA) ?? sets out 93 potential ways to upgrade your People Processes with AI and GPTs across four categories – workforce planning and strategy, recruitment, learning and development, and employee wellbeing. (2) Johannes Sundlo provides examples of companies using GAI in their people analytics work to support analyses on engagement data, skills, and tailoring training recommendations. GPTs are an amazing tool for scenario planning, forecasting future workforce needs, identifying talent gaps, and developing integrated talent strategies. THE EVOLUTION OF HR AND DATA DRIVEN CULTURE DAVE ULRICH, NORM SMALLWOOD, AND JOE GROCHOWSKI - Why and How to Move HR to an Outside-In Approach When asked the question, “What is the biggest challenge in your job today?” HR professionals will typically provide answers such as: “Build a skills-based organisation” or “Help our employees have a better experience”. As Dave Ulrich, Norm Smallwood, and Joe Grochowski write, these answers would be far more powerful when a “so that” is applied e.g. “Help employees have a better experience so that customer experience improves.” The article demonstrates that greater value is created with an outside-in approach that starts with the needs of external stakeholders (customers, investors, community) and then figuring out the implications inside the company for meeting those needs. Dave, Norm, and Joe also present their Human Capability Framework and a tool that provides an assessment of an organisation’s outside-in performance (see FIG 10). FIG 10: Human capability from the outside-in - diagnostic questions (Source: Dave Ulrich et al) WORKFORCE PLANNING, ORG DESIGN, AND SKILLS-BASED ORGANISATIONS AMY WEBB - Bringing True Strategic Foresight Back to Business In her article for Harvard Business Review, Amy Webb defines strategic foresight as “a disciplined and systematic approach to identify where to play, how to win in the future, and how to ensure organizational resiliency in the face of unforeseen disruption.” Her article also advocates for the integration of strategic foresight as a core competency in every organisation, regardless of size. Moreover, Amy provides guidance on how to operationalise strategic foresight by unveiling a ten-step process. Read alongside another article authored by Amy for HBR: How to Do Strategic Planning Like a Futurist, which includes Amy’s Futurist’s Framework for Strategic Planning (see FIG 11). FIG 11: A Futurist’s Framework for Strategic Planning (Source: Amy Webb) WORLD ECONOMIC FORUM AND PwC - Putting Skills First: Opportunities for Building Efficient and Equitable Labour Markets As the introduction to this compelling collaboration between the World Economic Forum and PwC begins: “Skills and talent shortages are critical challenges facing societies and economies today. The absence of relevant skills impedes business growth, hinders economic prosperity, and inhibits individuals from realizing their full potential.” The report identifies five specific opportunities for intervention where the gains from skills-first solutions are most likely for employers and workers alike (see ‘Skills-first Framework’ in FIG 12). Additionally, the report also showcases 13 Skills First “Lighthouses”, including IBM, Siemens, Standard Chartered and Sanofi. It concludes by offering key takeaways regarding six success factors in implementing skills-first approaches including (1) Sponsorship from leadership, (2) Alignment with business needs, and (3) Data and evaluation for iteration. (Authors: Genesis Elhussein, Mark Rayner, Aarushi Singhania, Saadia Zahidi, Peter Brown MBE, Miral Mir, and Bhushan Sethi). A cultural shift to skills-first approaches needs both sponsorship from executives and governance from human-resources professionals FIG 12: Skills-first Framework (Source: World Economic Forum PETER SHEPPARD - Learning from our Skills Journey | BEN AUTY - What are the new skills people will need for the future of work? | TANUJ KAPILASHRAMI - How Standard Chartered is Unlocking the Power of Skills in the Workplace Many of the organisations we work with at Insight222 have embarked on the road to becoming a skills-based organisation. It is not an easy journey, so it is helpful to learn from other companies who are treading this path. Three of these are Ericsson, Lloyds Banking Group, and Standard Chartered. (1) In his article, Peter Sheppard shares learnings from Ericsson’s skills journey including a) it’s not jobs or skills; it’s skills and jobs, b) it’s a whole organisation activity, c) Less is more with skills, and d) Data drives value. (2) Ben Auty shares insights as to why Lloyds Banking Group is developing a learning culture to build the workforce of the future at the bank, the main skills they are focusing on, and the central role the recently established Reskilling Team is playing. (3) Tanuj Kapilashrami shares how Standard Chartered catalysed their work on skills by identifying adjacencies between ‘sunset’ and ‘sunrise’ roles. We looked at skills adjacencies between ‘sunset’ jobs and ‘sunrise’ jobs: so, what are the jobs that are going to go away? What are the skills that help employees get reskilled into some of these sunrise jobs? We ran five proofs of concept, we showed some real redeployment opportunities and started making the skills narrative real. EMPLOYEE LISTENING, EMPLOYEE EXPERIENCE, AND EMPLOYEE WELLBEING JENNIFER E. SIGLER WITH STEPHANIE DENINO - So Many Stakeholders, So Little Time: State of EX 2023-2024 The fifth annual State of EX study authored by Jennifer E. Sigler, PhD on behalf of The EXchange, Inc, TI PEOPLE and FOUNT Global, Inc. is a treasure chest of insights on the fast-evolving practice of employee experience. It highlights the top four priorities for EX as: (1) Redesigning experiences, (2) Getting broader buy-in for EX work across the organisation, (3) Building an EX roadmap for the organisation, and (4) Getting more / better data. One other standout finding from the study suggests that senior leaders are increasingly focused on EX with a majority of respondents (63%) saying their organisation’s senior leaders view EX as equal to or even more important than other corporate priorities. This bodes well for the future of EX. Thanks to Stephanie Denino and Volker Jacobs for highlighting the study. FIG 13: EX Team Priorities YOY Change (Source: The EXchange, TI People and FOUNT Global, Inc) LEADERSHIP AND CULTURE NADJIA YOUSIF, ASHLEY DARTNELL, GRETCHEN MAY, AND ELIZABETH KNARR - Psychological Safety Levels the Playing Field for Employees | PETER CAPPELLI AND LIAT ELDOR - Can Workplaces Have Too Much Psychological Safety? Two perspectives on psychological safety in the workplace. In the first article, Nadjia Yousif, Ashley Dartnell, Gretchen May, and Elizabeth Knarr present the findings of Boston Consulting Group (BCG) research, which finds how psychological safety benefits inclusion, reduces attrition in diverse groups and effectively acts as an equaliser - enabling diverse and disadvantaged employee groups to achieve the same levels of workplace satisfaction as their more advantaged colleagues. The study also highlights the direct relationship between empathetic leadership and feelings of psychological safety in the workforce, giving leaders a clear directive to be empathetic and thereby engender psychological safety. The second article by Peter Cappelli and Liat Eldor presents research that found that when you move from average to high levels of psychological safety, performance in routine jobs actually declined. FIG 14: Psychological safety has an outsize impact on retention for diversity groups (Source: BCG) RASMUS HOUGAARD, JACQUELINE CARTER, AND ROB STEMBRIDGE - The Best Leaders Can’t Be Replaced by AI While there are some areas where AI is already surpassing or will surpass human capabilities, there are several it cannot replace. Based on their research into employees’ comfort with AI in management, as well as their decades of research on the qualities of effective leadership, Rasmus Hougaard, Jacqueline Carter, and Robert Stembridge identify the promise (and perils) of AI-enabled management (see FIG 15), as well as the three uniquely human capabilities leaders need to focus on honing, especially as AI begins to figure more in management: (1) awareness, (2) compassion, and (3) wisdom. For more from Rasmus, I recommend listening to his podcast discussion with me: How To Be a More Compassionate Leader. Leaders who deepen their ability to lead with humanity will win at attracting, retaining, developing, and motivating top talent. FIG 15: AI versus Human: A matric of leadership activities (Source: Potential Project) DIVERSITY, EQUITY, INCLUSION, AND BELONGING JULIE COFFMAN, ALEX NOETHER, BIANCA BAX, CASSY REICHERT, AND KRYSTLE JIANG - The Business of Belonging: Why making everyone feel included is smart strategy Revealing data from a Bain survey of 6,000+ employees across four countries, which finds employees who have seen their companies intentionally invest in inclusion since 2020 are three times more likely to feel fully included than employees who have not seen such investment from their employers. Other findings include (1) Combining diversity and inclusion maximises a company’s capacity (by 4x) to innovate, and (2) Employees with inclusive leadership are 9x more likely to feel fully included at work (see FIG 16). (Authors: Julie Coffman, Alex Noether, Bianca Bax, Cassy Reichert, and Krystle Jiang). FIG 16: Employees with inclusive leadership are 9x more likely to feel fully included at work (Source: Bain) SHUJAAT AHMAD - DEIB Is At A Crossroads—It’s Time for Bold Action and Clear Metrics Given recent developments it’s reasonable to say that Diversity, Equity, Inclusion, and Belonging (DEIB) is at an existential crossroads. As Shujaat Ahmad writes in his excellent article for Round: “Boards, leadership teams, and investors hold the power to set the tone, shape the policies, and allocate the resources to support DEIB initiatives: for DEIB to work effectively, they must shift from well-intentioned wordsmiths to committed drivers that hold the organization accountable for outcomes and positive change.” Shujaat then unveils his blueprint to help leaders assess progress and drive meaningful change, clarifying the ‘why’ before diving into the ‘how’ covering measuring what matters and interventions (see FIG 17). For more from Shujaat, I recommend visiting Belong and Lead. FIG 17: Source – Shujaat Ahmad HR TECH VOICES Much of the innovation in the field continues to be driven by the vendor community, and I’ve picked out a few resources from January that I recommend readers delve into: ERNEST NG - If the Pitch is Too Smooth, It Probably Is: Why AI in HR is Difficult – Part 2 of an insightful essay from Ernest Ng, PhD of HiredScore (see also Part 1 on disclosures here) where he cuts through the hype to assess how we should be implementing AI in HR. LOUJAINA ABDELWAHED - A Tale of Two Cultures - In One Company - Loujaina Abdelwahed, PhD from Revelio Labs highlights the growing disparity between junior and senior employees (see FIG 18) and identifies the factors causing this malaise. Thanks to Ben Zweig for highlighting. FIG 18: The growing disparity in sentiment between junior and senior employees (Source: Revelio Labs) JEREMIE BRECHEISEN - Where Employees Think Companies’ DEIB Efforts Are Failing – Jeremie K Brecheisen presents findings from Gallup that reveals a disconnect between how well employees and HR leaders believe their organisations are doing when it comes to diversity, equity, inclusion, and belonging: 84% of CHROs say their organisations are increasing investment in DEIB, while only 31% of employees say their organisation is committed to improving racial justice or equity in their workplace (see FIG 19). The article then outlines ten needs employees say are not being met and then offers strategies to help organisations address the disconnect. FIG 19: How employees and HR leaders differ on perceptions of DEIB progress (Source: Gallup) FRANCISCO MARIN - Navigating the ONA Landscape: Trends and Challenges for 2024 - Another good read from Cognitive Talent Solutions, as Francisco Marin explores the key trends and challenges shaping the ONA space in 2024. IAN WHITE - The three C’s of effective performance management – Ian White, CEO at ChartHop, presents the three C’s of performance management — continuous, contextual and cultural — designed to help companies understand their employees more holistically. CHRISTINA JANZER - The surprising connection between after-hours work and decreased productivity – Christina Janzer presents findings from Slack’s Workforce Index, which identifies findings on how to structure the workday to maximise employee productivity, well-being and satisfaction – including the connection between after hours work and decreased productivity. FIG 20: Source – Slack PODCASTS OF THE MONTH In another month of high-quality podcasts, I’ve selected five gems for your aural pleasure: (you can also check out the latest episodes of the Digital HR Leaders Podcast – see ‘From My Desk’ below): AMY EDMONDSON AND LAURIE RUETTIMANN – Right Kind of Failure – Amy Edmondson joins Laurie Ruettimann on the brilliantly named Punk Rock HR to explore the essential role of failure in our professional and personal growth. STACIA GARR, COLE NAPPER, AND SCOTT HINES - People Analytics & HR Tech Research by Industry Analysts – Stacia Sherman Garr, one of the industry’s top analysts, joins Cole Napper and Scott Hines, PhD on the Directionally Correct podcast to discuss the research Stacia and her team at RedThread Research do in the people analytics and HR technology space. RICHARD ROSENOW, MADDIE GRANT, AND SANJA LICINA - How to Build an Integrated Framework for Workforce Listening – In an episode of the Empowering Workplaces podcast, Richard Rosenow joins hosts Maddie Grant and Sanja Licina, Ph.D. to talk about The Three Channels of Workforce Information: conversations (“what people say”), surveys (“what people say they do”) and systems (“what people do”) as a way to build a comprehensive understanding of your workforce. McKINSEY - The shape of talent in 2023 and 2024 - In this episode of McKinsey Talks Talent, Bryan Hancock, Brooke Weddle and host Lucia Rahilly highlight the trends that shaped last year’s talent landscape—and those poised to ‘redefine its contours’ yet again in 2024. MATTHEW BIDWELL AND DAN LONEY – Forecasting 2024 Workplace Trends – Wharton Professor and convenor of the Wharton People Analytics Conference, Matthew Bidwell, joins host of the Wharton Business Daily Dan Loney to look at the year ahead in the workplace. VIDEO OF THE MONTH CHRIS LOUIE, TOMAS CHAMORRO-PREMUZIC, TERRI HORTON, AND LINDSEY SHINTANI - Power a dynamic workforce by embracing AI An enlightening panel discussion from the recent LinkedIn Talent Connect where Chris Louie, Dr Tomas Chamorro-Premuzic, Terri Horton, EdD, MBA, MA, SHRM-CP, PHR, and Lindsey Shintani discuss how AI is changing learning and career paths. They provide guidance on how to overcome AI anxiety and empower impactful futures. BOOK OF THE MONTH KEVIN WHEELER AND BAS VAN DE HATERD – Talent Acquisition Excellence An excellent new book published by Kogan Page and authored by Kevin Wheeler and Bas van de Haterd (He/His/Him). It provides an insightful and detailed analysis of how technologies such as artificial intelligence and machine learning in combination with analytics can improve talent acquisition and recruitment. RESEARCH REPORT OF THE MONTH YUYE DING AND MARK (SHUAI) MA - Return-to-Office Mandates A huge thank you to Nick Bloom for bringing my attention to this paper from Yuye Ding and Mark Ma, which studied the impact of 137 Return to Office mandates on the performance of S&P500 firms from 2020-2023. The key findings, as summarised by Nick, are illuminating: (1) RTO mandates are more likely in firms with poor recent stock performance, and in those with powerful male CEOs. (2) Glassdoor data finds RTO mandates significantly reduce employee ratings for job satisfaction, work-life balance, and senior management. (3) There is no significant impact of RTO mandates on either firm profitability or firm stock-returns. FIG 21: Distribution of firms’ RTO mandates (Source: Yuye Ding and Mark Ma) FROM MY DESK January saw the first three episodes of Series 36 of the Digital HR Leaders podcast, sponsored by our friends at ScreenCloud. Thank you to Luke Farrugia. DAVID GREEN - The best 60 HR & People Analytics articles of 2023 Part 1 | Part 2 – My tenth annual collection of HR and people analytics resources is spread across two articles and ten themes. Part 1 covers i) the future of work and people strategy, ii) workplace design and strategy, iii) AI and the world of work, iv) people analytics, and v) employee experience, listening and wellbeing. Part 2 covers: vi) the evolution of HR, HR operating models and the CHRO, vii) building a data driven culture in HR, viii) workforce planning, skills, and talent marketplace, ix) leadership and culture, and x) diversity, equity, inclusion and belonging. THOMAS RASMUSSEN, DAWN KLINGHOFFER, AND JEREMY SHAPIRO - HR in 2024: The Impact of People Analytics, AI & ML – In a special episode of the Digital HR Leaders podcast to kick off 2024, I was joined by Thomas Rasmussen, Dawn Klinghoffer, and Jeremy Shapiro to discuss the outlook for HR and people analytics in the coming 12 months. SERENA HUANG - How to Enhance Your Career in People Analytics - Serena H. Huang, Ph.D., who has led people analytics functions at companies including GE, PayPal and Kraft Heinz, joins me to discuss the common career paths observed in the people analytics field and how they have evolved over the years. KAZ HASSAN AND LUKE FARUGGIA - How to Bridge the Gap Between Customer and Employee Experience - What can HR learn from marketing's journey in using data, analytics and technology to understand and personalise the customer experience? How can we leverage these insights in HR to boost our employee experience initiatives? Kaz Hassan and Luke Faruggia join me to discuss these topics and more. THANK YOU Finally, this month I’d like to thank: Recruit CRM for nominating me as ‘The People Analytics Pioneer’ in their list of 50 Recruitment Influencers to Follow in 2024 Likewise, a huge thank you to 365Talents for including me as one of the Top 50 HR Influencers to Follow in 2024 Similarly, thanks to HRCap, Inc. for including me in their list of 10 HR Influencers who Provide Remarkable Insights The Social Craft (here) and The Talent Games (here) for also including me in their lists of HR and HR Tech leaders to follow. HRDConnect for quoting me in their article Data Literacy: A must-have for HR professionals in 2024. Gianni Giacomelli for including the Data Driven HR monthly in his list of seven must-read newsletters. HR Geckos for including Excellence in People Analytics as a book recommendation in their HR Bytes Newsletter for January 2024. Sebastian Szachnowski for including Excellence in People Analytics in his list of books to get better at people analytics. Leapsome for including the Digital HR Leaders podcast as one of its Top 10 HR Podcasts for 2024. Similarly, Alexandre Darbois for also including the Digital HR Leaders podcast as one of his 5 HR Podcasts. Melissa Meredith for using my 12 Opportunities for HR in 2024 article to highlight the importance of the HR-Finance partnership in building a thriving company. Bill Brown for also highlighting my 12 Opportunities for HR in 2024 article in his Eleven Trends Transforming the Future of Work in 2024. Mirro.io for including me as a contributor in their list of 15 HR Trends for 2024. Dhanesh K for including as one of his 10 Top HR Leaders to Follow. Lanteria HR for recommending me as one of their HR Experts to Follow in 2024. Semos Cloud for including my 12 Opportunities for HR in 2024 as part of their round-up of HR insights. Thomas Kohler for including my Best HR and People Analytics Articles of 2023 in their collection of HR resources to read. Thinkers360 for including me in their Top Voices EMEA 2023. ABOUT THE AUTHOR David Green ?? is a globally respected author, speaker, conference chair, and executive consultant on people analytics, data-driven HR and the future of work. As Managing Partner and Executive Director at Insight222, he has overall responsibility for the delivery of the Insight222 People Analytics Program, which supports the advancement of people analytics in over 90 global organisations. Prior to co-founding Insight222, David accumulated over 20 years experience in the human resources and people analytics fields, including as Global Director of People Analytics Solutions at IBM. As such, David has extensive experience in helping organisations increase value, impact and focus from the wise and ethical use of people analytics. David also hosts the Digital HR Leaders Podcast and is an instructor for Insight222's myHRfuture Academy. His book, co-authored with Jonathan Ferrar, Excellence in People Analytics: How to use Workforce Data to Create Business Value was published in the summer of 2021. SEE ME AT THESE EVENTS I'll be speaking about people analytics, the future of work, and data driven HR at a number of upcoming events in 2024: Feb 21 - Discover how Leading Companies shift People Analytics from insight to impact (Webinar) Feb 28 - People Analytics World 2024: Exploring the Potential of Analytics and AI in Employee Experience (Zurich) March 4-6 - Gloat Live! (New York) March 14-15 - Wharton People Analytics Conference (Philadelphia) April 24-25 - People Analytics World (London) May 7-9 - UNLEASH America (Las Vegas) September 24-26 - Insight222 Global Executive Retreat (Colorado, US) - exclusively for member organisations of the Insight222 People Analytics Program October 16-17 - UNLEASH World (Paris) More events will be added as they are confirmed.
    Artificial Intelligence
    2024年02月01日
  • Artificial Intelligence
    OpenAI革新发布:ChatGPT团队版与GPT商店 OpenAI最近推出了两项重大创新:ChatGPT团队版和GPT商店。这些进展不仅展示了OpenAI在人工智能领域的深厚实力,而且标志着AI技术在商业和创新应用领域的新篇章。 首先,让我们深入了解ChatGPT团队版。这是一个专为团队合作设计的产品,旨在提高团队工作效率和协作。ChatGPT团队版在传统ChatGPT的基础上增加了许多新功能和服务,包括: 高级模型访问权:用户可以使用如GPT-4这样的高级模型,这些模型具有更长的上下文窗口,能够处理更复杂的对话和数据分析。 工具支持:团队版提供DALL·E 3、GPT-4 with Vision、浏览功能和高级数据分析工具,以及更高的消息上限。 数据安全与隐私:OpenAI保证不会在用户的业务数据或对话上进行模型训练,其模型也不会从用户的使用中学习,确保数据安全和隐私。 安全的工作空间:提供了一个专门的、安全的协作空间,方便团队成员之间的沟通和协作。 自定义GPT创建和共享:用户可以创建和共享定制版的GPT,以适应特定的工作流程和需求,且无需编码。 管理控制台:提供了一个便于团队和工作空间管理的管理员控制台。 新功能和改进的早期访问:用户可以优先体验OpenAI的新功能和改进。 ChatGPT团队版的定价为每个用户每月25美元(按年计费)或每个用户每月30美元(按月计费)。这一产品不仅提供了强大的AI工具和服务,而且通过其高级功能和定制选项,为各种团队和业务提供了前所未有的灵活性和高效性。 哈佛商学院的一项研究表明,使用GPT-4的波士顿咨询集团员工在完成任务时,速度比未使用AI的同事快25%,工作质量提高了40%。这一发现凸显了ChatGPT团队版在提高团队效率和工作质量方面的巨大潜力。 除了ChatGPT团队版,OpenAI还推出了GPT商店。这是一个探索和使用定制版ChatGPT的平台,旨在促进AI技术的广泛应用和创新。GPT商店汇集了来自OpenAI合作伙伴和社区开发的各种GPT应用,覆盖艺术创作、学术研究等多个领域。这个商店不仅是产品展示和购买的平台,还是一个促进创新和技术交流的社区。 在GPT商店中,用户可以发现各种有趣和有用的GPT应用,这些应用不仅展示了AI技术的多样性,也体现了OpenAI在推动AI技术广泛应用方面的决心。通过这个平台,OpenAI旨在建立一个充满活力的社区,鼓励更多的人参与到AI技术的创新和应用中来。 OpenAI的这两项新产品发布,不仅彰显了公司在人工智能领域的领先地位,更体现了其推动AI技术广泛应用和社会发展的愿景。随着AI技术的不断进步和普及,我们可以预见,OpenAI将继续在人工智能领域扮演重要角色,推动技术和社会的共同发展。 总的来说,ChatGPT团队版和GPT商店的推出是OpenAI在其使命——“通过友好AI推动所有人的福祉”——上的重要一步。通过这些产品,OpenAI不仅提高了团队协作和创新的可能性,而且为广泛的用户群体提供了更加丰富和多样的AI体验。随着这些产品在市场上的推广和应用,我们期待看到AI技术在更多领域的积极变革。
    Artificial Intelligence
    2024年01月10日
  • Artificial Intelligence
    New Data from Inspira AI Predicts: Nine out of 10 Office Jobs Gone Forever as a Result of AI 报告显示2045年将有90%的白领工作因AI的发展而永久消失,同时AI不仅会取代现有的工作,它还将占据大部分新创造的岗位。 根据Inspira AI的最新研究报告揭示了一个惊人的预测:到2045年,将有90%的白领工作因AI的发展而永久消失。这不仅仅是一次技术革命,更是对我们传统工作方式的全面挑战。 报告指出,与蓝领一线工作相比,办公室工作的自动化更为简单和经济高效。因此,白领岗位将会受到更广泛的影响。这种变化速度之快,影响之广,远超过我们之前的想象。它预示着社会结构和社会规范将经历迅速而广泛的变化,全球性的重大转型已经在眼前。 Inspira的CEO Izzy Traub强调,目前公众对于人工智能相关的工作流失的讨论,大多数估计过低。事实上,AI不仅会取代现有的工作,它还将占据大部分新创造的岗位。这是一个不容忽视的事实。 面对这样的挑战,作为职场人,我们需要重新思考和规划我们的职业生涯。技能的适应和升级变得至关重要。我们必须对人工智能的发展保持敏感,并积极探索如何在AI时代保持自身的竞争力。 现在是时候行动了。我们需要对未来的工作环境有一个清晰的认识,并思考如何在这个由AI主导的新时代中找到自己的位置。让我们共同面对挑战,拥抱变化,准备好迎接未来。 LOS ANGELES Inspira AI, a company pioneering new AI cognitive frameworks, has today released a paper that maps out shocking job losses in the white-collar sector. The paper predicts that nine out of 10 white collar employees will be out of work by 2045, with no new jobs to replace them. In just over two decades, forecasts suggest the world will experience swift and extensive changes in social structures and societal norms, leading to a significant transformation globally. Inspira CEO, Izzy Traub, commented on the data, “There has been a lot of public chatter about AI-related job losses forecasted in the 40-50% range. These forecasts take into account new jobs that will be created. What is not taken into consideration is that AI will also take most of these new jobs as well. The job displacement predictions are skewed far too low, at least for knowledge work. The scary truth is that AI will result in massive job losses for office workers, far more extensive than people realize.” The newly released paper makes the case that automation of office work will take place far faster and broadly than jobs that require manual labor. The argument is that office work requires only the automation of computer processes, while manual labor requires expensive and hard-to-build robots. Automating office work is easier and less costly, and thus office jobs will be impacted more extensively. Dr. Jo Ann Oravec, a professor at University of Wisconsin, is a contributor to the paper and the author of Good Robot Bad Robot (Springer Nature, 2022). She commented, “predictions about technological futures can never be entirely correct, but Inspira’s efforts are based on solid thinking and will certainly stimulate a new level of insight in business, academics, and public policy. Projections of the impacts of AI are often bold but have little to back them up, unlike Inspira’s pioneering approaches. The world is in for changes of such magnitude that we best prepare ourselves. The work that Inspira is doing is groundbreaking and is sure to have a profound impact on countless lives”. Download the paper: https://papers.ssrn.com/abstract=4663704 About Inspira Inspira AI Corp is an A.I. SaaS company pioneering new cognitive frameworks and conversational agents for workforce optimization.
    Artificial Intelligence
    2023年12月14日
  • Artificial Intelligence
    Exploring the Top 10 HR Tech Trends of 2024 The HR field is undergoing significant changes in 2024, with technology playing a pivotal role. Key trends include the use of AI and ML in talent acquisition, a shift to skills-based hiring, and the integration of remote and hybrid work models. Emphasis on diversity, equity, and inclusion (DEI) is growing, alongside the exploration of the Metaverse for virtual HR practices. Data analytics is crucial for informed decision-making, and there's a focus on optimizing user experience and supporting employee well-being and mental health. Enhancing the candidate experience and ensuring data security and compliance are also critical. 2024年人力资源领域正在经历重大变革,技术发挥着关键作用。主要趋势包括在人才招聘中使用人工智能和机器学习,向基于技能的招聘模式转变,以及远程和混合工作模式的整合。多元化、平等和包容性(DEI)的重视日益增加,同时探索元宇宙在虚拟人力资源实践中的应用。数据分析对于做出明智的决策至关重要,优化用户体验和支持员工福祉和心理健康也同样重要。加强候选人体验和确保数据安全与合规性也是关键。 Human Resources is continuously evolving, and in 2024, it is set to undergo a remarkable transformation. With the integration of cutting-edge technology and innovative approaches, HR departments are better equipped than ever to attract, retain, and manage talent effectively. In this blog, we'll delve into the top 10 HR tech trends of 2024, offering a glimpse of how these trends shape the future of HR. Artificial Intelligence and Machine Learning Artificial Intelligence (AI) and Machine Learning (ML) are at the forefront of HR tech trends in 2024. These technologies are revolutionizing talent acquisition by streamlining the recruitment process. AI-driven algorithms can assess resumes, conduct initial candidate screenings, and predict a candidate's suitability based on historical data. ML algorithms analyze patterns within employee data to provide insights into performance, helping HR departments make more informed decisions about promotions and job placements. Skills-based Hiring Skills-based hiring, which prioritizes a candidate's specific skills and abilities, will significantly impact companies in 2024. This approach will help companies swiftly adapt to the changing job landscape and technological advancements. In 2024, skills-based hiring will: Improve Recruitment Efficiency: Companies will find it easier to match candidates directly to job requirements, reducing time and resources spent sifting through resumes and interviews. Reduce Skill Gaps: With skills-based hiring, companies can address skill gaps more effectively and invest in training and upskilling for existing employees to meet the organization's needs. Increase Employee Productivity: Hiring individuals with the right skills results in quicker onboarding and increased employee productivity, driving business performance. Remote and Hybrid Work: Remote work has swiftly transformed the modern workplace and is set to become a permanent fixture in 2024. HR professionals are tasked with managing the challenges of overseeing remote teams, encouraging collaboration, and maintaining employee engagement within virtual environments. Moreover, the growing prominence of hybrid work models demands strategic initiatives to enhance productivity and work-life balance for employees, regardless of their location within or outside the office. Diversity, Equity, and Inclusion (DEI): Inclusion and diversity will remain at the forefront of HR agendas in 2024. Organizations will strive to create inclusive cultures where employees from all backgrounds feel valued, respected, and empowered. HR professionals will focus on building diverse talent pipelines, implementing unconscious bias training, and developing inclusive leadership practices. Addressing pay equity and ensuring equal opportunities at all levels will also be prioritized. Focus on Metaverse in HR The Metaverse is poised to redefine HR practices. This revolutionary technology seamlessly integrates virtual meetings, interviews, onboarding, and learning experiences. By creating lifelike virtual environments, HR professionals can host dynamic meetings, conduct immersive interviews, and foster engaging discussions among remote teams. Recognizing its vast potential, organizations embrace the Metaverse to reshape traditional HR processes and enhance collaboration across distributed teams. The Metaverse empowers HR to transcend geographical boundaries, ushering in a new era of impactful virtual interactions that elevate employee experiences and boost organizational productivity. Harnessing Data for Informed Decision-Making This trend revolves around leveraging advanced data analytics tools to collect, process, and interpret vast amounts of data within the HR domain. By doing so, HR professionals can gain valuable insights into various aspects of workforce management, including employee engagement, performance metrics, talent acquisition, and workforce planning. This trend is driven by the recognition that data is critical to making strategic and informed decisions. HR departments increasingly adopt predictive analytics to foresee trends, identify potential challenges, and devise proactive solutions. Through data-driven decision-making, organizations can optimize their HR strategies, streamline operations, and enhance overall workforce effectiveness. Optimize the User Experience  As HR tech evolves, the user experience is optimized for HR professionals and employees. This trend is about making the technology more user-friendly and intuitive. User-friendly interfaces, simplified navigation, and customized dashboards make it easier for HR personnel to access and utilize HR tools, ultimately improving efficiency and reducing the learning curve. Employee Well-being and Mental Health Support HR technology trends are placing a spotlight on employee well-being and mental health. Innovative tools and applications are designed to monitor and support employee well-being, offering resources to help individuals manage stress and achieve a healthy work-life balance. This emerging trend underscores the recognition of the significance of comprehensive employee care. Emphasizing Candidate Experience Enhancement Even with resource limitations in 2024, CHROs are committed to maintaining their teams' focus on essential tasks. Companies recognize the imperative need to continually enhance the candidate experience, fortify their employment brand, and expedite their recruitment processes to remain competitive in attracting top talent. Among the myriad HR trends discussed, refining the candidate experience remains an enduring challenge for TA teams. Data Security and Compliance Data security and compliance are paramount with the growing use of HR tech. HR departments are increasingly implementing data protection measures to safeguard sensitive employee information and adhere to the ever-evolving global data protection regulations. Conclusion As we step into 2024, HR tech trends are shaping the future of human resources management. These trends, from artificial intelligence and machine learning to a strong focus on employee experience, enhance how organizations attract, retain, and manage talent. By staying abreast of these top 10 HR tech trends, businesses can position themselves to succeed in an ever-changing world of work. Embracing these technologies will streamline HR processes and create a more engaged, diverse, and resilient workforce.   by Navjot Kaur
    Artificial Intelligence
    2023年11月17日
  • Artificial Intelligence
    Hiring Trends 2024: For Tech And Digital Global Employers ANWESHA ROY   8 MINUTE READ The hiring landscape has gone through a lot of fluctuations in the last two years. The United States and the European Union (EU) fell into recession, triggering widespread panic amongst tech and digital companies. Businesses had to lay off a large chunk of their workforce as a cost-cutting measure, some even freezing hiring temporarily. Fast-paced digital agencies and startups understood that they needed a flexible hiring approach to adapt to these circumstances. They realized that hiring remote talents from offshore locations like LatAm, East EU, East Asia, and India was a viable way to grow their workforce. Recruiters soon realized that they needed to prioritize both skills and cultural adaptability while looking for remote talents. Hiring platforms emerged as the helping hand in this matter, with their comprehensive solutions geared to deliver a fast and reliable hiring experience. In this blog, we will discuss these developments and other hiring trends for 2024, and the job roles that will grow in the near future. Hiring Trends That Will Define 2024 Adaptable hiring strategies will help tackle the talent shortage Remote hiring for remote positions is here to stay Skill-based hiring will gain more prominence India’s rising talent pool to meet global needs Talent expectations from global employers are changing Organizations will look for culture-fit talents Emergence of hiring platforms Artificial Intelligence (AI) and Machine Learning (ML) will play a crucial role in optimizing the hiring process     1. Adaptable hiring strategies will help tackle the talent shortage By 2030, the global tech talent shortage will rise to 85.2 million, leading to a massive loss in revenue. Global employers will be more careful and strategic when hiring in 2024. The demand-supply gap of skilled tech and digital talents is growing every year, which means startups have to work harder to onboard the best talents. They will also look to hire remote talents from offshore locations to upscale as per their budget and resources. 2. Remote hiring for remote positions is here to stay In 2023, tech and digital startups have to deal with the growing tech talent shortage amidst a precarious global economic scenario. Remote hiring is the most viable solution for these organizations, as they can easily access skilled and cost-effective talents across the globe, with a faster hiring process. Even companies following on-site or hybrid workstyles are hiring certain roles remotely, due to its benefits. contract hiring – uncertain economic conditions are compelling companies to hire full-time long-term contractual employees for flexibility and scalability. Global employers are also open to long-term contractual engagements for full-time employees, to ensure flexibility and scalability. The number of startups hiring remotely has grown from 900 in 2019, 2,500 in 2020, and 14,000+ in 2022. With a growing number of talents preferring remote workstyle, companies will be able to retain their top talents by setting up distributed teams instead of strictly adhering to local hiring. 3. Skill-based hiring will gain more prominence 92.5% of companies have seen a reduction in their mis-hire rate when implementing skills-based hiring, with 44% reporting a decrease of more than 25%. Going ahead, the qualification of a candidate will be defined by their hard and soft skills, and not just their education and work experience. Technical skills, problem-solving abilities, leadership, adaptability, and more will be closely evaluated by companies. A study shows that hiring for skills is five times more predictive of job performance than hiring for work experience. To drive this initiative, startups will rely on vetting tools and integrate them within their hiring process. The assessment will be tailor-made for tech and digital roles to aid in finding the most suitable talent. Furthermore, startups have to drop degree requirements from job descriptions and become more specific about the capabilities they are looking for. 4. India’s rising talent pool to meet global needs Contrary to the talent crisis across the globe, India is generating tech and digital talents consistently in large numbers. Their tech talent pool has grown by 120% in the last five years, with two million STEM graduates every year. The country also has a surplus of 2.5 million digital talents, presenting a great opportunity for global employers. The average salaries of Indian talents is lower than that of US, EU, and AUS talents, which means global companies can hire equally or better-skilled professionals at a lesser cost. India also has a wide network of talents specializing in emerging technologies. The number of Indian AI experts on LinkedIn has grown by 14x in the last seven years, the 5th fastest growth after Singapore, Finland, Ireland, and Canada. These reasons have helped India become the most preferred talent-sourcing hub in the world. 5. Talent expectations from global employers are changing The global labor market is very tight and the talents have an upper hand in deciding their next employer. To remain competitive, startups have to reexamine their hiring strategies and cater to what the top talents are looking for. A study reveals that top Indian remote talents want better pay, good work-life balance, and prospects of career growth while choosing an employer. Before hiring from India, global employers have to prepare an offer that fulfills the expectations of these talents. 6. Organizations will look for culture-fit talents Technical proficiency makes a candidate qualified for the job role, but a cultural fitment aligns makes them the perfect addition to the organization. Both large-scale companies and startups need talents who take initiative, have a positive attitude, and handle situations in a non-confrontational manner. Such skills will uphold the work environment and promote a healthy culture. An org-culture fit talent will be more engaged and satisfied with their job than just a skilled professional. Finding and hiring culture-fit professionals also impacts the retention rates, as a study shows that 73% of talents have left a job due to poor cultural fitment. 7. Emergence of hiring platforms According to a 2022 survey by Upwork, 50% of businesses outsource at least some of their work. Of those businesses that outsource, 38% use hiring platforms to find freelancers and contractors. Another report reveals that 48% of companies are planning to increase their use of hiring platforms for offshoring in the next two years. Hiring platforms offer a number of advantages to businesses, including access to a large pool of skilled and experienced freelancers and contractors, the ability to scale their workforce up or down as needed, and cost savings on labor costs. They also help in vetting candidates to find the right technical and cultural fit, helping in making an informed hiring decision. With their end-to-end solutions, hiring platforms help both fast-paced businesses and enterprises in upscaling confidently within a short period of time. 8. Artificial Intelligence (AI) and Machine Learning (ML) will play a crucial role in optimizing the hiring process 44% of recruiters find AI useful in shortening the hiring cycle, which is the main priority, 32% found it a good way to cut down overhead costs, and 24% found it helpful in identifying the right talents. Studies suggest that it takes 29 to 66 days to fill tech-based vacancies, which is a very long hiring cycle for startups. In a fast-paced environment with constant deadlines, open roles must be filled as quickly as possible. As time is of the essence, startups are beginning to leverage Artificial Intelligence (AI)  and Machine Learning (ML) in their hiring process. By reducing the time to hire, small-scale startups are also able to cut down overhead and operational costs. In fact, AI/ML have helped companies in North America cut down their costs by 40%, in Europe by 36%, and in the APAC region by 25%. Application Tracking System (ATS) is also being used by startups to ensure a seamless hiring process. The ATS is useful in organizing applications, managing communications, and tracking the status of candidature. 99% of Fortune 500 Global companies are using ATS for an elevated hiring experience and short cycle, so why shouldn’t startups? After all, it oversees all the tedious processes in hiring, so managers can focus their energy on decision-making and other important tasks. Region-wise Job Roles Which Will Grow In Demand in 2024 United States Europe Australia According to a survey by NASSCOM, future skills demand is expected to grow to 3.5-3.7 million by 2024, rising from the present 1.2-1.3 million currently employed by the industry. Building on that, here are a few predicted jobs that will be in demand in the next few years, sorted region-wise. United States   The United States is leading the world in next-gen technology, which reflects in their plans to hire more cloud engineers, machine learning engineers, data scientists, and salesforce developers. The digital sector is also growing at an average of 8.5% CAGR, and the startups are looking to hire more web developers, ad specialists, UI/UX designers, and digital marketing managers. Europe   European tech startups will focus increasingly on their core services and hire more front-end developers, DevOps engineers, and blockchain developers. Similarly, digital companies will look for PHP developers, web developers, and digital marketing managers. SaaS-based startups in the EU will focus on building next-gen products and user privacy, which is why they will hire more product managers, customer success managers, and security engineers. Australia   Despite fears of recession, Australian tech startups are focussing on resilient hiring to support their services. They will look to onboard more back-end developers, database administrators, and systems engineers. In the digital sector, SEO specialists, web analytics specialists, and digital sales representatives will be in demand. SaaS-based startups in the country will focus on better customer service by hiring account executives, customer success managers, and e-commerce managers. Jobs created by AI to look out for in 2024 Prompt Engineer Prompt engineers are experts in designing and developing AI-generated text prompts for improving the AI prompt generation process for several applications. They use data analysis and programming skills to deliver an elevated user experience in tech and SaaS products. AI Trainer AI trainers are responsible for teaching AI systems how to think and interact with users. They work with the development team to ensure the chatbots and virtual assistants respond to customer queries and resolve them effectively. These experts have a strong background in data science, natural language processing (NLP), and machine learning. AI Auditor AI auditors evaluate the safety, legality, and ethics of AI systems so they can be put to good use. They review codes, conduct data analysis, and test the systems to ensure the system does not produce biased or discriminatory responses. Machine Managers Machine managers oversee the AI-operated hardware and systems, and ensure everything is intact for peak performance. They are responsible for the efficient operation and minimum downtime of AI tools, making them indispensable for the tech sector. Final Thoughts The secret to success in talent acquisition is to identify the trends, adapt your strategy, and prepare for the future. It is important to constantly monitor the ever-changing hiring landscape to build a productive workforce for the long run. As we enter 2024, the major focus for global employers will be on identifying the best candidates for the role and leveraging digital tools for a smarter process. Digital agencies also have to offer what talents seek in their employer in order to improve their chance of hiring the best candidates. By aligning these hiring trends in advance, global recruiters like digital agencies, IT services companies, and SaaS-based tech companies can stay ahead of the curve and hire methodically.
    Artificial Intelligence
    2023年10月24日