Automated technology continues to replace human workers in a wide variety of jobs and industries. This includes the retail, transportation, manufacturing and agriculture industries, just to name a few. Businesses with a backbone comprised largely of brick-and-mortar stores are struggling to keep up with online retailers, autonomous cars are threatening to replace humans in transport jobs, and automated farming technology continues to make leaps and bounds. Furthermore, according to a Harvard Business Review article, “robots have probably taken about 85% of the 5 million manufacturing jobs that have disappeared from the United States since 2000.” Companies are struggling to find a way to adapt their business models to accommodate the rapid replacement of humans in the workplace. The article further states that: “While our first instinct might be to help employees find new jobs, what we really need to do is is help companies shift into new markets focused on human services and adopt new business models that will allow employees, customers, and communities to benefit from technological change.”
More Than a Store
Providing community-focused human services is one way to combat plummeting brick-and-mortar sales, but it isn’t such a far-out proposition as it seems. Walmart, for example, is already rolling out optometry services, beauty salons and restaurants at various locations. Imagine the various potential revenue sources from offering similar services such as day care, elder care or a community meeting space. Doing so would not only give employees being replaced by robots a new job, but it would make businesses an integral part of the community.
Another tactic some companies are trying is offering employees replaced by robots generous stock options. If an employee was replaced, yet holds stock in the company, they could benefit from the increased value as a result of utilizing automated workers. Consider the example of the Chobani founder, Hamdi Ulukaya, who gave 10% of his stock in the yogurt company to 2,000 employees, while the rest received stock options worth about $150,000 each. This approach provides a financial buffer for employees that will suffer from technological unemployment. This tactic is particularly valuable if a company has immediate plans to automate its jobs.
As reliance on enterprise technology continues to grow and automated workers begin replacing humans, companies have a duty to invest in the potential of their employees. While the knee-jerk reaction might be to simply help employees find new jobs, companies that shift into new markets and adapt their business models to allow employees, customers and communities to benefit from technological change will see a prosperous future in automating the majority of their workforce. Want to discover other leading industry trends? Read this article about what HR teams need most in 2017.
Attention HR department – LinkedIn just released its comprehensive global recruiting report, giving you an inside look at how employers might enhance their strategies heading into 2016.
The main theme to 2016 HR strategies are relationships. It’s no surprise – relationships are key to successful recruiting, staffing and retaining talent. But one of the biggest obstacles most companies will face in 2016 is hiring the best candidates in a high-demand pools and meeting compensation expectations.
Check out these other key takeaways from the report…
- With over 51% US average, referral programs are on the rise and expected to become one of the most valuable assets in hiring the right talent.
- Employer brand is another huge element that is expected to increase in importance in 2016. People want to work for a company who has a well-established brand and has an innovative company culture full of benefits and perks.
What are your HR priorities for 2016? Complete our survey and let us know – you’ll get a free copy of the exclusive results to see how you stack up with the rest of the industry!
Talent recruitment metrics are tricky because there’s no industry standard, which unfortunately leaves many HR professionals to guess at meaningful recruiting data they can share with executives to greenlight new initiatives. Luckily, Greenhouse Software VP Maia Josebachvili has suggested recruiting KPIs that can signal success or challenges in hiring.
Check out these five metrics and see if they might help your talent recruitment efforts:
1. Sourcing – What sources are responsible for great candidates?
Sourcing metrics help you catalog where you find your best recruits – which campuses to visit, which publications to advertise in and which social networks to peruse.
2. Interviewing – How much does the interview process cost you and how effective is it?
Interviewing metrics should combine the best of quantitative (cost of an interviewer’s time) and qualitative (candidate feedback) data for comprehensive insight.
3. Hiring – Are you converting enough of your job offers?
Hiring metrics are effective because they give black and white data, like actual hires versus the hiring goal or your overall offer acceptance rates.
4. Activity and effort – Which recruiting tasks are the most effective at bringing in talent?
Activity and effort metrics help you see which recruiting initiatives have the most success, such as which activities historically result in the most offers extended.
5. Team performance management – Who is successful at adding new talent?
Team performance metrics enable companies to set goals for recruiters and then evaluate individual performance to reveal who has been most effective.
Help Execs Interpret Recruiting Data
No one has the in-the-trenches insight on talent recruitment like HR does. Guide decision-makers toward the right recruiting initiatives by showing them the right data. Get the full breakdown of the five KPI categories at Hirvue.com.
Psst! When you’re done, get a sneak-peak of our new and evolved, award-winning recruiting acceleration platform, CandidateRewards.