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Posted By Kimball Norup, SVP, Head of Growth at Hays Talent Solutions Americas on Thursday, Dec 14, 2017
The workforce technology ecosystem is becoming increasingly crowded and complicated, and managed service programs (MSP) providers are well positioned to guide their customers through these and other workforce management challenges. Today’s solutions providers are leveraging technology to create the next-generation of MSP’s that promise to transform the world of work. Here are six technological advances coming to an MSP near you (if they haven't already).
Artificial Intelligence (AI)
Artificial intelligence (AI) and its impact on the world of work is continually evolving and changing. Hays CEO, Alistair Cox recently published an article on AI's influence on the HR industry and the enhancements it provides when completing tasks at a rate and scale that is simply unachievable by humans. But that's not to mistake AI as a replacement for humans; the potential is in augmenting workflow and enabling your team to become more strategic.
In the MSP space, AI can be utilized in helping match and process large numbers of submissions to a specific client's needs. AI can create a solution that replicates human decision-making but at a significantly faster rate. This frees up team members to secure the highest-quality candidates quicker and advance them through the process before they are hired elsewhere.
Increasingly flexible work arrangements coupled with the expanding use of mobile technology requires improved ease of access to contingent workforce management functions as well as overall visibility. Hays has partnered with vendors that offer a revolutionary mobile-enabled temporary recruitment management solutions that advance the entire rostering, time capture and payment cycle to ensure the process is made quicker, easier and more efficient for both the candidate and the recruiter, allowing workers to reject or accept the job right from their phone.
One example is a geolocation tracking feature that enables the recruiter to see that their employee is on time and actually at the job site. By taking a selfie, the worker shows that they’re the right person in the right place at the right time, and the information will automatically send to the recruitment agency. The prevalence of technology has created higher expectations from job seekers and contractors who want a straightforward and fast application process. As competition for certain roles reaches record levels, some employers, particularly in the world of tech, are shortening their recruitment processes in order to ensure the best talent doesn’t get snapped up by rival businesses. Mobile and GPS technologies are just a few advancements that are creating a significant change in the world of work.
Freelancer Management System (FMS)
The quick, fluid process of hiring a freelancer often happens at an individual level- the client deals directly with the freelancer. An FMS can aid this process, and may include easy-to-use collaboration tools to help get your projects done. Some systems are cloud-based, which makes implementation much smoother as it integrates with your software using an application programming interface and needs less time from your IT department than other software. Using a virtual workforce involves a new way of contracting— an approach that embraces responsiveness while maintaining the flexibility, diversity, and remoteness of your talent. With FMS technology, your company can take advantage of the changing workforce trends in a way that supports your bottom line. The emerging challenge for MSPs is to bring these new sources of flexible talent into the existing contingent workforce program in order to provide the same levels of visibility, process control, and spend management as traditional staffing suppliers.
Natural Language Processing (NLP)
Research shows the language you use in your job postings makes a difference in the talent you attract. For example, using too many “masculine-type” words (e.g., ambitious, dominate, challenging) tends to dissuade women from applying. Software that uses natural language processing can examine your job descriptions to recognize potentially biased language and suggest alternatives to draw a more diverse candidate pool. Natural language processing is a computer program’s ability to understand spoken or written speech. NLP analysis can also be used to identify the best ways to engage with potential candidates, assess propensity to move and gauge interest levels. Chatbot’s are another tool that can help automate recruitment processes such as speeding up FAQs for candidates or using AI to assess candidate resumes without unconscious bias. Improving your job descriptions is easy to achieve for attracting not only a stronger talent pool but also a more diverse one.
Aside from helping businesses hire the right candidates, tech can play a significant role in enabling organizations to retain and develop talent for the future. Large companies will collect thousands—even millions—of resumes over the years. But once these resumes go into an applicant tracking system, the majority of them are never looked at again. Talent pooling is the ability to create and manage a talent database using an algorithm to match previous candidates to current requests, like staffing up accountants that have previously worked for your firm during the busy tax season. This “candidate rediscovery” process works similarly to automated resume screening using machine learning. The algorithm analyzes your job description and then searches your existing resume database to find applicants that are the best match for the job. This enables you to tap into a candidate source that already knows your processes, brand, and culture without spending additional money on candidate acquisition.
While technology's influence on the world of work has been mostly positive, it cannot go without saying that cybersecurity presents some real challenges. Between SIN/SSN number’s, resumes, and contact details, the MSP or VMS is in possession of data that could cripple someone’s life if it gets into the wrong hands. Working with partners and technologies with defined and rigid cybersecurity plans is paramount to the protection of your organization, its workers, and all vendors and applicants. Hays vendor management system 3Story Software, keeps all customer information in separate databases to ensure safety and scalability. It’s one system that still prevents data mingling, so your teams can only access information relevant to them, and you can be sure people will just have access to what they need. Technology is always improving the security of data held by large companies, but it's vital that your security software is regularly evaluated, tested and updated to ensure it's up to standard and not at risk of a breach of information.
Innovations in technology are poised to transform nearly all aspects of our lives and MSP solutions won’t be excluded. As MSPs continue to reduce the administrative burden of engaging workers, their role will transform. MSPs can help advise about what technology will best help meet your program goals and support you with the implementation of existing systems to ensure optimized and automated processes.
HTS will be hosting a webinar January 25th, 2018 at 12 pm ET. Travis O' Rourke of HTS will be joined by a procurement expert from CIPS, the Chartered Institute of Procurement & Supply, as they address your questions and examine how you can align your talent acquisition with your strategic sourcing to ensure a robust candidate pool.