Divergence becomes the global theme in 2021. While crises tend to unite people, Covid-19 oddly was about division – across daily life, healthcare, the economy, business, and even politics. People are divergent on masking up, social distancing and vaccinations. The pandemic is managed well in some societies, and practically out of control in others. Economies are on a K-shaped trajectory, with some industries thriving while others are declining fast.
This is the time when the gap will be the biggest between those that go one path and those that go the other. This is the opportunity for those that take the winning path to pull much further ahead than those that do not.
Which path is your company taking for people strategy?
Companies that are hiring in 2021 will see an influx of applicants because of recent lay-offs. Companies that leverage technology will be able to process the large volumes of applications much more efficiently, such as halving the time taken with manual work. However, the real prize is that those companies not content with scratching the surface, that use a data-driven approach to define role requirements and understand candidates beyond the CV, will get to pick the best candidates in the market for themselves.
Depending on what the company needs, these candidates could be stronger in traits like innovation, growth mindset or have stronger culture fit.
Being online platforms, hiring technology also shifts the paradigm to an almost zero-touch hiring process – video interviews, online assessments, virtual onboarding, and even tapping on remote talent whom you might not meet in person anytime soon.
People are the biggest asset of any company, and most of them are existing employees. In 2021, all companies will be paying more attention to their employees. And all employees will have increased expectations for that. Prior to Covid-19, most companies relied on office interactions to keep employees connected and engaged. With less common office time now, companies that use a data-driven approach to employee management will find it a fantastic opportunity to take the personalization of employee engagement, wellbeing, learning and development to the next level. Over the past year, we realized that some of us thrive working alone from home, while others cannot be productive without human interaction. Similarly, each one of us has different needs when it comes to motivation and growth. For too long, companies sought to treat all employees the same.
When a company truly understands each employee as a person, it will be also able to identify and groom the high potentials. These employees disproportionately move the needle for the company, and will lead the future growth of the company.
Predictive analytics and AI are the cutting-edge of the data-driven approach. Pulsifi’s People Data Platform helps companies significantly improve quality and efficiency in talent acquisition and talent management by leveraging predictive analytics and AI.
The platform unifies various sources of people data encompassing hard skills, soft traits and other aspects, to power predictive models. The models instantaneously and accurately predict desired outcomes of each person at work, and how well each person fits the role or culture. Actionable insights follow, such as hiring recommendations and personalized learning and development plans.
Pulsifi helps companies like Nestlé, Heineken, KPMG and Singtel make their people strategies happen through our platform with over 90% accuracy. To find out more about how Pulsifi can support your company, click here.