Talent News Round-Up: The Hidden Workforce, Intelligent Recruitment, and Job Seeker Confidence
Staying updated on the latest workforce trends is crucial for TA leaders and HR professionals. This week, we delve into three significant developments shaping the talent landscape and get SocialTalent Director of Content, Holly Fawcett’s first-hand takes on these pieces.
- Our first article is from Inc and concerns the ‘hidden workforce’ – which in this case refers to retirees, caregivers, and neurodivergent individuals as sources of talent. We’ve been beating this drum for a while, but hopefully soon scope will become the norm in this regard.
- Next, we explore a Forbes piece that looks intelligent recruitment. Focused on automation and AI – is it time that this just becomes a standard within the industry?
- And finally, Vaco.com unveils a surprising uptick in job seeker confidence. Is this a sign of rebounding times or just a blip in the matrix? Read on to find out more!
Join us as we explore these pivotal insights and their implications for the future of work.
1. Is Your Next Great Hire in the Hidden Workforce?
Source: Inc
Discover the untapped potential of the hidden workforce—an often overlooked group including retirees, caregivers, and neurodivergent individuals—who, despite their willingness and capability, are frequently excluded from traditional hiring processes. This diverse talent pool, comprising around 27 million in the U.S., offers unique strengths that can drive productivity, innovation, and long-term success. By adopting more flexible, open-minded recruitment strategies, companies can unlock these hidden assets, bridging talent gaps and fostering a more inclusive workforce.
Holly Fawcett’s take on this:
“I hate the premise in the title of this article, and I wish it was more active: MAKE your next great hire one from the hidden workforce. There you go, Inc.com! I’ve fixed your headline for you. Those who are considered, involuntarily, to be part of the “hidden workforce” are people with proven work experience, necessary skills and bundles of motivation. It’s more than late to be tailoring a job path into your organization for folks who don’t have traditional linear work experience. Remember a resume is just a piece of paper, and an interview is just a conversation. Simple changes to your recruiting process can expand your talent pool exponentially and you get so much bang for your buck. Please try it, and MAKE your next hire one from the hidden workforce!“
2. The Next Generation of Talent Acquisition: Intelligent Recruitment
Source: Forbes
The rise of intelligent recruitment automation is revolutionizing talent acquisition by integrating AI and robotic process automation to streamline hiring processes. This technology automates repetitive tasks, accelerates candidate screening, and enhances communication, allowing recruiters to focus on strategic initiatives. By making informed micro-decisions, it improves candidate experiences and reduces hiring time. Organizations embracing this advancement benefit from faster, unbiased hiring, leading to high-performing teams and achieving strategic goals. Intelligent recruitment automation is not just a tool—it’s reshaping the future of talent acquisition.
Holly Fawcett’s take on this:
“For real, I’ve applied for jobs in the past that used “intelligent process automation” (application chatbots) to speed me through gates and schedule an interview slot as I became a more relevant candidate, and I’m not kidding, that was in 2009 in front-line retail. It’s 2024. Why is this news? What *is* interesting about this though, is the breadth of tasks that services like Paradox.ai and others can do in supporting hiring (and day-to-day HR) in your organization. The days of HR distrusting automation services because they were not defensible in a dispute are numbered. Innovators have set their sights on back office functions like HR as being ripe for disruption, optimization and innovation, and we’re going to see really exciting tech in the HR space (we’re already seeing it, watch the replay of this HR Tech demo showcase for inspo). I urge you to check out vendors and get familiar with the landscape of what’s possible, and start thinking about how it’ll change your job, your output, and your outcomes in HR and TA. Prepare to incorporate this capability with AI and machine learning, rather than fear it.“
3. Vaco’s Q3 Talent Pulse Report Uncovers Surprising Boost in Job Seeker and Employee Confidence Levels
Source: Vaco.com
Vaco’s Q3 2024 Talent Pulse Report reveals a notable increase in job seeker and employee confidence, marking a significant shift from Q2’s more pessimistic outlook. Confidence in job security, financial status, and career advancement has risen across the board, with 45% of respondents feeling extremely confident in their job search—a 10-point increase from Q2. The report also highlights a growing openness to contract work as the workforce adapts to economic challenges with resilience and optimism. These insights are based on feedback from over 10,000 respondents across the U.S. and Canada.
Holly Fawcett’s take on this:
“This is a really meaningful report with really positive indications that job seekers and employees have confidence in their efforts to secure a new job, a promotion or a raise, and based on Q2 job seeker sentiment reports (like this one and this one) that showed a considerable downturn in confidence, this thankfully has us all taking a big exhale. What I’m hearing more and more is that companies are getting much better at internal hiring, and this is leading to employees staying with their employers longer and feeling satisfied with their jobs. If you’re reading this and thinking, “we’re not that great at internal hiring” – while you’re not alone, you’re falling behind. Treat internal hiring like you do external talent acquisition and become masters of this soon, or those employees you worked so hard to bring on in the first place are a flight risk.“