December 13, 2016 | Written by: Blythe Howard-Chou
Categorized: Talent Acquisition
Share this post:
The goal for any talent acquisition team is to recruit the right candidate at the right time. Yet, recruiters admit they would not rehire 39% of their recent hires. In this new age of data and analytics, that level of regrettable hiring should be a thing of the past. Not surprisingly, just 7 percent of companies use analytics to make sourcing predictions and take future actions on those issues.
Today, as businesses continually transform and diversify, compete for new and critical skills, sort through mountains of resumes and drive diversity, they need to do better than ‘fill a req.’ Gut-based decisions are no longer acceptable—it’s time for HR to rethink its talent strategies.
We’ve entered a new era, where cognitive systems and solutions offer HR professionals new capabilities that help you find the right people for your business, improve the candidate experience and measure the impact of new hires over time. Recruiters’ time is valuable, and hiring mistakes are costly. Cognitive systems increase the likelihood of recruiters identifying the best fit, so recruiters use their time more effectively and your company can make the right hires to gain a competitive advantage.
Cognitive systems and cognitive computing are a subfield under the larger umbrella of artificial intelligence (AI). They focus on reason and understanding at a higher level, inspired by human thinking, or cognition. You may recall IBM Watson competing on Jeopardy. Watson is a cognitive technology that understands, reasons and learns—all while interacting with humans in a natural way. Over time, Watson gets better, or ‘smarter,’ at any task. For example, if an employee is discussing a ‘stretch’ assignment, Watson understands the context of ‘stretch’ as it relates to HR.
Cognitive systems aim to change the landscape of HR completely, by enabling organizations to outthink their biggest challenges. Consider quality of hire, which remains a huge challenge for HR departments. Currently most recruiters make hiring decisions based on a combination of gut instinct and traditional data sources, such as resumes, background checks and personal references.
The alternative is using cognitive systems like IBM Watson Talent, which builds on people’s best judgment, providing HR professionals with data-driven insights. With cognitive recruiting as one of its many capabilities, Watson Talent transforms HR. By using an analytic approach to decision making, your organization can:
• Get right people in right place at the right time.
Build a pipeline of candidates best-suited for your organization and place them in jobs that match their skills, experience, expertise and personality traits.
• Explore, predict and share results.
Explore virtually any workforce data—simply type questions and predict the impact of your talent decisions!
• Engage and grow talent for maximum impact.
Recommend tailored, individual career paths that keep people motivated—and retain top talent.
• Create an irresistible employee experience.
Increase productivity and reduce costs by continuously improving HR services and operations.
Watson Talent helps your HR team more quickly find the right people who will match your company culture and thrive in your organization. This reduces regrettable hires, drives revenue and improves profit for your business.
Join the cognitive HR revolution! Learn more about how Watson Talent can help your organization find and keep the best talent.
1“The secret to reducing hiring mistakes? It’s in the metrics,” IBM Smarter Workforce Institute, March 2015.
IBM Smarter Workforce Institute WorkTrends 2013/14 Survey – HR leaders and hiring managers (n=6,202).