MRA Global Sourcing, which provides recruitment solutions: placing top talent in the supply management arena including procurement, strategic sourcing, and operations, has provided the top five procurement talent trends that we will be seeing more of in 2018:
1. Independent Workforce (Gig Economy)
According to a recent report by The McKinsey Global Institute, 20 percent of the working population is employed independently. Add this with the evolution of cloud computing and mobile platforms, it’s no surprise why more and more companies are leveraging a blended workforce. With the number of “gig” employees expected to double by 2020, this trend shows no signs of stopping or slowing down.
2. Predictive Analytics
Generally speaking, predictive analytics encompasses a variety of statistical techniques from predictive modelling, machine learning, and data mining that analyze current and historical facts to make predictions about future or otherwise unknown events.
As new technologies develop, companies increasingly take advantage of them and are able to anticipate and assess employee performance. Collecting this data early on and comparing it to past evaluations create a feedback loop for many companies. In this way, they are able to perfect their profile for the ideal employee and make more strategic, more informed hiring decisions.
3. Blind Hiring
According to MRA Global Sourcing, many companies are developing a blind hiring process to avoid bias or other controversies. During the screening process and interview stage, information that gives away an applicant’s background or demographic data can easily introduce unconscious bias.
Eliminating this information makes for hiring decisions based exclusively on achievements and ability. Because of social media however, initiating a totally blind process could prove challenging. Many companies will find it necessary to utilize third-party recruiters.
Some companies have begun to incorporate competitive games to their candidate screening process. Using tools like ConnectCubed makes for a more interactive, inviting application process and provides employers valuable insights into applicants. Millennials, raised on video games and the internet, tend to find competitive applications especially appealing.
Reagan Johnson, MRINetwork’s Director of Technology Operations adds , “For candidates, gamification can take the chore out of the application process and add a bit of competitive fun.” Johnson suggests, “Employers gain access to valuable, actionable data to predict candidate fit and future performance.”
5. Preparing Employees for the Future
New technologies can create jobs, but can also eliminate them as well. Artificial Intelligence (AI) in robotics, for instance, can replace tactical employees, and when that happens, a company still needs highly-skilled human assets to manage and maintain these new, automated tools.
With this in mind, companies should look ahead and consider how they can or will leverage human and technological resources down the road.
“A key part of this,” writes Marquis Parker, MRINetwork’s VP of Business Services, “will be to identify people who are willing to embrace different aspects of jobs, including management, problem solving, troubleshooting, and other areas that require a human element, and determine how they can be deployed to align with a company’s growth strategies.” For many companies, this could mean fundamental changes to their human capital strategy.
Looking for more? Download our Talent Management Buyer’s Guide for free to compare the top 24 Talent Management and HR Tech vendors head to head. The guide also includes 4 key capabilities to consider while selecting a new solution and 10 questions to ask yourself and the vendor before purchasing.
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