Steve Jobs once said, “It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.”
But human resource departments know that hiring candidates that fit the bill is a task tougher than finding a needle in a haystack.
Luckily for the modern day HR managers, technology has come to their rescue as digitally detecting a candidate who is well-suited for the work and organization is possible, saving time and effort on their part.
This process, known as talent management solutions, is very interesting.
You use data analytics of a potential employee by going through their records, social media behaviour, and previous employment records which gives the employers multidimensional ideas about the candidate’s skills and prospective.
What catapults this use is that the potential candidates are always creating such data for the scrutiny and analysis of the employers. And how? Increasing use of mobile technology means their online behaviour is recorded in the World Wide Web which can be pooled by such a software via talent solution vendors.
This is one of the reasons why talent management solution vendors in countries like Australia, New Zealand, Malaysia, India, and Singapore are recorded to have a flurry of activities in recent times and are the fastest adopters of this solution.
What enables their speedy adoption of this technology is the prevalence of a ripe ICT infrastructure.
Singapore is a prime example of a country that is eager to deliver cloud-based solutions thanks to an already established ICT infrastructure. It, along with Australia, are voracious consumers of data analytics demanding the services of talent management solutions to give a competitive edge to their opponents. Malaysia, on the other hand, wants to transform their HR management culture and are investing heavily in this technology to enable the process of digitization. Indian enterprises are seeking to find the perfect candidates by going beyond the conventional hiring methods. Japanese firms are increasingly moving from on-premise software to cloud solutions.
Though talent management solutions in countries in Asia-Pacific are being driven with varying agendas, a certain pattern can be established. The circle is found to go this way – Recruiters are increasing leaning towards social media to find potential recruits. Once they do, their skills and previous performances are reviewed, which results in the recruiters deciding what to use the human resource for. What follows is analyzing their work and then giving required trainings thence.
This circle influences the technology offerings and value being created by vendors. And the market opportunities have stayed true to this demand and supply equation. In 2016, TMS market earned revenues worth $1.41 billion and it is estimated that it will grow at a CAGR of around 8.1% in Asia-Pacific.
Though enterprise resource planning (ERP) vendor like Oracle hold significant advantage by cross-selling HR solutions to the ERP account base, integrated talent suites vendors such as Cornerstone OnDemand, IBM Kenexa, and SumTotal are not far behind. They are mostly seen to have differentiating coverage – product or geographic – within Asia-Pacific.
Technology is here and being adopted, but the 2 questions that remain unanswered at this time are worrying
- How far is too far? Will right to data privacy be compromised in anyway in pursuit of finding candidate information?
- Can a potential candidate manipulate own data to qualify for a dream job?
Sachi Mulmi is a researcher with Frost & Sullivan. She can be reached at firstname.lastname@example.org
Sapan Agarwal drives content and marketing for Frost & Sullivan. Sapan is based out of Kuala Lumpur Malaysia and can be reached at email@example.com | +603 6204 5830