This is the second part of the blogpost series ‘Business Case Revealed’. In this article we highlight opportunities of connection algorithms in the human capital industry.
Organisations with many employees are saddled with quite some job rating dilemmas and stuck with some time-consuming ordeals. What will you pay your staff? How do you make sure people have the right competences and are a cultural fit? Connecting people and resources is a thriving playing field in the on-demand age. How could you start off a shift from job focus to human focus?
The 'Human Capital Trends Report 2017 - Rewriting the rules for the digital age' of Deloitte mentions that many organisations cannot translate the data overkill and the broad scale of tools into a higher productivity. The (virtual) workplace, learning and talent acquisition requires a whole different approach in the digital age. The HR manager will become a data scientist in the future. Technology is offering solutions here, but is mostly so overwhelming that organisations lack the ability to identify the actual needs in order to integrate the right technology. As a result organisations buy new systems hoping it will close their gaps. Maybe some will, but almost always other gaps will arise.
Why a new system, when it’s actually about connecting the dots?
“It's not information overload, it's filter failure” – Clay Shirk
Headlines of the future for human capital solutions
The variety of application possibilities the C42 platform brings forth give us the opportunity to make lives easier in a wide range of markets. One of those markets is human capital. Matching people, skills and performance has been a mind-bending matter for many organisations since decades. The digital revolution is about consumer behaviour, business opportunity and... algorithm! It’s going to yield different labour market headlines in the future. Mark our words. To illustrate this, let’s call our inspiration source, ‘Mr. A. Team’ of ‘Company Better’.
Company Better succeeds in the transformation from job to human approach
An on-demand economy will develop where human resources and work will meet and close gaps. The trust factor is the key pillar. Company Better is already building a framework that will fulfil a more meaningful role for their current customers. Also to make their HR knowledge available on a smaller scale, but only based on big data. No more job appraisals. Self-assessment and feedback loops based on competencies and cultural fit will set the pace.
In 2016 the director A. Team of company Better went exploring the market for a new system. Since company Better is a prominent specialist in their area of expertise that was quite astonishing news. a large part of the Dutch labour market is already depending on their system and method. So, why a new system?
It’s a dinosaur versus chameleon story. Having a transformation independent method does not mean that the IT-system is as agile that it can survive the same societal transformation. An outdated technique simply needs modernisation. All technologies the system is based on are currently superseded. It’s time for a wave of renewal.
In his quest mr A. Team was looking for an IT club with a sense of interaction and a innovative look at the future. Company Better found their match in Calendar42:
"It is not about thinking in blocks, but about thinking in the connections between the blocks. It’s the connective intelligence that will meet the user-friendliness demand." - Michel Boerrigter, CEO Calendar42
Contemporary solutions characterise themselves by scalability and agility. Furthermore the benchmark that you apply to companies will shift quickly towards individuals. The composition of large organisations will change. The future is characterised not only by small, collaborating companies, but also the way people establish labour relations. They're looking for more diversity in the workplace and in the roles they play. This vision calls for a different application of best practices. The individual will want to experience a level of reasonableness when it comes to employment and the related compensation. Choice of individuals will be made based on more information. Real-time relevant data are therefore important.
It is a game of supply and demand: you want to be payed the most for the same activities in a work environment where the cultural fit is equivalent. Whereas, if you want to invest in your own development you will settle for less when it’s a matter of possible gain. On the other hand, as a business you want to find the most competent candidate at a fair value.
No, these are no actual headlines, neither is this a real news article. It could be, though… connecting people and resources is exactly what our algorithm does, quite magically, we might add. ;-)
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