We will be attending the Jefferies London Healthcare Conference from 15th to the 17th November 2022.
The Jefferies Healthcare Conference is a gathering of over 400 public and private healthcare companies and 3,000 leading executives, institutional investors, private equity investors and VCs who address near- and long-term investment opportunities and discuss the current trends driving healthcare.
At the HLG winter conference, Heiko Bruhn had the pleasure of leading a roundtable entitled “Digitalisation in HR and the impact on finding talented people”.
With the current shortage of skilled workers, the advance of
intuitive recruiting tools and intelligent software for the detection and
evaluation of candidates seems unstoppable. This is related more to big
companies than to start-ups. They count on their network, but are more and
more, faced’ with the shortage of talented’ people on the labour market.
Artificial Intelligence (AI) is one of the hottest topics in
business right now. AI is not only a future trend; it is already crucial part
of procedures in various companies.
But what does it mean?
AI is not uniformly defined as a term. One often speaks about ‘machine
learning’. This denotes procedures using computer algorithms that learn from
data, recognise patterns or desired ones to show behaviours without making each
individual case explicit was programmed.
AI has already started to make its way into organisations as
well as in HR. As HR is using a huge amount of data when reviewing candidates
and talents, AI can play a new and central role as it processes this mass of
data more rapidly, providing standard analysis using algorithm and collating
data in a user-friendly manner. The most impacted area of HR is the recruitment
process that already uses AI assistance in big companies. Areas you can find in
Candidate sourcing; resume screening and in the recruitment process themselves.
After having shortlisted candidates, the first interview and assessing is next.
AI can perform preliminary questioning and screening interviews.
Regardless of which electronic tools you use to find and
select candidates, one thing is certain: To find new talent, you need innovative
methods and in-depth knowledge. The reason: Digital Natives (= Generation
Y/Millennials) entering the job market. This generation born between 1980 and
2000 is described as living immersed in technology and “surrounded by and
using computers, videogames, digital music players, video cams, cell
phones, and all
the other toys
and tools of
the digital age”. For some, this new generation
predicts a fundamental change in the way young people communicate, socialise
and create as well as in their behaviour, qualifications and expectations.
Meaning that the way people think, and process information is different from
previous generations. With the age of
internet, “digital natives” are used to getting information instantly.
Due to the rapid growth of social networks, online
communities and the ever-better information services promoting new advertised
positions (job alerts or job agents), job seekers need less and less energy of
their own to spend on a job search. Instead of looking on your own, new
technology and algorithms strengthen the lack of skilled workers, which has
been complained about for years, has increased self-confidence of qualified
specialists. However, this new type of behaviour – I call it consumer like
-recruitment – also requires a rethink when approaching candidates.
GenSearch has developed a new concept of recruitment:
“Find and Bind”. If you would like to find out more, please contact
CONCLUSION – One thing is certain: in order to find
new talents, innovative approaches and in-depth knowledge of the specialist
market are required. While recruiting used to work through job advertisements,
online job boards and vertical search engines, this classic model of
“advertise and apply” – companies advertise jobs and applicants
actively apply for them – reaches its limits.
The consensus of the roundtable discussion found that
despite AI, the human factor will continue to be vital in the future. Certainly, small companies continue to
recruit through their networks. “Access” to talented candidates is becoming
increasingly difficult due to the rising generation of new digital
natives. Specialised consultant
boutiques like GenSearch can be supportive in ‘FINDING and BINDING’ your