What do you see as the single biggest factor for effective talent management?
The company must be prepared to make the necessary changes to make sure they attract talent. In my opinion, the most in-demand profiles are people who know technology very well. Data scientists are also in demand.
These types of people in my experience are looking for very dynamic companies, companies that are ready to adapt to (the latest) technologies. The company needs to be positioned in the market in such a way it is attractive to talent.
This is something I experience every day. Many industries in the world – and in Hong Kong as well – are quite conservative. They have to move very quickly to be attractive to talented people.
Two more things. One is to automate the recruitment process and accelerate this process. Automate means using technology in such a way as to substitute human intervention in this type of process. Pre-selection of resumes can be done automatically. We have the technology today to be used for this purpose.
The other thing: We have to introduce algorithms, or intelligence, to make sure we have a smarter selection of candidates.
For more advanced companies, where the digitalisation process is more sophisticated, we can correlate this with the successful staff and potential candidates. In this way we can select the best candidates for the positions.
How can HR use big data to identify talent?
All information is very welcome to select candidates. Of course, we have to balance between the interest and the relevance of the candidate and the recruiting process duration and effort.
Traditionally, HR people used to elaborate by themselves, so some information can be missed. So to collect information about the candidate’s activity on social media, for example, videos and such, can be useful in the recruiting process. But we still have to make sure there is balance between the amount of data used and (other parts of the recruitment process).
Are organisations embracing technology for effective talent acquisition?
Most HR departments, in my experience, are not very digitalised. Traditionally, HR has been considered strategic for the company, but it (has been) a very manual process. Some companies have adopted ERP (enterprise resource planning) systems to manage people.
Banking, of course, is one such area that is quite digitalised. In big corporations, this digitalisation is something that has been done in the past 10 years. They have enough data to initiate such a process. But still, some aspects of the talent management process must be improved.
This is an extract of the insights that Vidal Fernández shared during his interview with Human Resources. A full account will be published in full at a later date.