“Data driven decision making is the future,” SV Nathan

Millennials and GenZs are looking for roles which aligns with their purpose and principles rather than moving jobs for financial benefits says SV Nathan, chief talent officer, Deliotte

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A big change in 2022

With the impact of COVID slowly receding and the economy rebounding, organisations need to prepare for the hybrid model. To leverage this model, organisations need to welcome professionals back to the workplace and also be equipped to provide an optimal balance of productive work with reduced stress and less commuting.

AI to change and impact HR post digital transformation

Artificial intelligence (AI) tools can act as able and intelligent partners to HR professionals. While most organisations are still experimenting with it, and use remains elementary at the moment, it is definitely changing our professional and personal lives, radically. AI has great potential to impact t – talent analytics and hiring. Any decision without the foundation of relevant insights will be lacking.

Talent analytics powered by AI will be a powerful tool in deriving proactive and impactful inferences from engagement surveys and HRIS (HR Information System) and so on, to drive timely and accurate decisions. Enhancing the candidate experience is especially important amidst this war for talent. The right blend of technology with the ‘human’ experience at exactly the right stages will help build the employer brand and attract talent.

AI-led intelligent tracking systems for volume-intensive activities, such as CV screening and interview scheduling, will help recruiters focus on connect with candidates and maintaining interaction through the process. Employee onboarding will get simplified with AI and reducing the time for things such as documentation, joining formalities and even day-one induction experiences through gamified tools and portals.

The change driver – information workers or tech workers

The challenges in the way we solve complex problems at work has doubled in the new regime. Decision-making has to be quick and organisations are finding innovative ways to serve clients, both internal and external. In a study by Deloitte, more than 96 per cent of the C-suites responded that analytics will become ‘more important’ in their organisation. Information workers use the power of analytics to help leaders take informed decisions. Technology workers, without doubt, provide the much-needed support required for driving the change. At Deloitte, analytics is used for important decisions related to the entire life cycle of the employees.

Working for money to working for a purpose

Millenials and GenZ tend to be accountable to pressing issues in the society. A ‘Deloitte Survey’ revealed that young generations are demanding social change and accountability. More than 55 per cent millennials and 52 per cent GenZ have actively donated to charities. Similarly, over 44 per cent millennials and 49 per cent GenZ have chosen the type of work which aligns to their personal ethics. Therefore, the focus shifted to finding an organisation that aligns with their purpose rather than just moving jobs for financial benefit. Millennials expect their leaders to pay attention to social causes and the organisation to have a larger purpose besides being profitable.

Will internal mobility help in retention?

The trend of seraching for talent from the market is witnessing a change and organisations are exploring ways to find talent internally. The thick walls between internal functions are being broken down and there is increased emphasis on cross skilling to allow people to succeed in newer roles. While it’s a great way to harness internal talent and retain them, we will have to wait and watch to see how it evolves, considering the ‘explore something new’ spirit of the workforce.

1 COMMENT

  1. Very clear description of practical possibilities with AI and Data Analytics to enhance the HR value proposition

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