Do you still want to pay 35% of somebodies first year salary to a recruiting firm when a more authentic and ongoing dialogue with potential candidates costs zero?
We are living in extraordinary times when it comes to human capital. At one end increasingly intelligent, AI systems and machines are reducing the number of mundane tasks we need for humans in everything from the food industry to legal processes and even complex software design and deployment.
Yet un-employment appears to be at a near all-time low 3.4% at the time of publishing. Our need to keep, develop and even recruit people is more stressful than ever before. The question is. Are we in the start of a new human capital era or is this a hiccup in traditional supply and demand dynamics that will even themselves out over time.
Human resources manager talks with job applicants on video call.
Our guest, Lenwood Ross believes that this will be a dramatic moment for change in how we think about human capital and also a moment where industries like headhunters and the recruiting industry could be under very significant threat as we head to a world where personal, ongoing relationships will engender the right type of recruiting when and where the company needs people.
We move from a world of labor markets to a world driven by sustained relationships even with people we have not recruited yet. Here are key insights from the podcast that could transform ideas like recruiting and talent acquisition.
· Once we shift the way we measure the value of talent we will pay more attention to how we recruit and find talent when and how we need it. This idea is anchored around the idea that management needs to focus on cultivating and orchestrating their own networks.
· The current model around recruiting is to use algorithms and AI to filter through resumes. This under-estimates factors like emotional and adaptive intelligence that are vital components in a more collaborative working world by 2033.
To flourish moving forward we must trat human capital as more than just pawns in an ever evolving ... [+]
· Organizations will thrive and win by showing their value through social skills, media and networks. Candidates for roles will examine the deeper truth of organizations for how each leader and group interact in their worlds. This mutual journey is an ongoing commitment that cannot be done by the current professional recruiting and talent industries.
· There are already organizations committing to this new form of eco-system orchestration and engagement to drive significant shifts in the value of human capital going forward, for example Google. This is more like the idea of pattern mapping than task driven recruiting and management. Conversations are tested as authentic from the very start.
We have a cultural moment, a ground zero moment that should be an opportunity for how we radically re -invent the management of human capital and it starts with how we recruit talent. The role of HR will need to evolve away from recruiting and managing flows of staff to delivering the mechanisms for how leadership constantly engages with it’s likely universes of people that should be part of the networks they recruit from. Management will need to measure their success on how they interact with their networks of people, authentic and on-going.
Lenwood Ross, Founder and CEO of Accelery Inc.
Lenwood is the Founder and CEO of Accelery, Inc. For over 20 years, Prior to founding Accelery, Lenwood earned a postgraduate degree in digital business with distinction from the Emeritus Institute of Management, a partnership of MIT Sloan School of Management, Columbia Business School Executive Education, and the Tuck School of Management at Dartmouth. He also graduated from the Strategic Steps for Growth Streetwise MBA program in entrepreneurial and small business operations through W.R. Berkley Innovation Lab at the NYU Stern School of Business. He is a member of the Founding Chapter of the One Hundred Black Men, a national social and civic organization that provides scholarships, educational support, economic empowerment, mentoring, health, and wellness initiatives, and serves as a leading voice of the African American community.
