27 January 2023
Expertise

How technology transformed the way we catch on jobs: our global head of talent acquisition shares his predictions on HRtech

HR has long been seen as a field for the soft-hearted and the socially-minded, like psychologists and sociologists. But as technology has evolved, it's becoming increasingly obvious that HR can benefit greatly from embracing it and using it to their advantage. While some HRtech has lived up to its promise, others have fallen short. But one way or another, these changes have already affected how we look for jobs or employees. We heard from Georgy Georgiev, our global head of talent acquisition, about how technology can challenge the workplace in the future.

George Georgiev Exness Global Head of Talent Acquisition

Although I have a degree in computer science, my career has taken me down a different path into the world of HR and sales. This may seem like an unusual combination, but I have always believed technology has the power to transform the way that HR is done. 

I'm old enough to remember when the internet was just a baby, and finding a job meant scouring the classifieds section of a newspaper. I remember when LinkedIn and online job boards were just a concept that few had even heard of. In fact, I was already a seasoned pro in the world of recruitment when I gave my first training on using Google to search for job candidates at Cisco Systems way back in 1999. 

After the year 2000, digitalisation of HR started to take place and now there are a variety of HR services that didn't even exist in the 20th century. Some of these include job boards, MOOCs, SaaS digital employee services, professional social networks, remote work tools, corporate social networks, and real-time robotic employee management tools.

Miracles of HRtech

It is important to note that while some HRtech developments have failed to live up to their initial expectations, others have become true game-changers in the field of HR. For example, job boards have become a dominant recruitment source, making it possible for employers to easily find and hire candidates from all over the world. Similarly, LinkedIn has become an invaluable tool for employers to access a vast pool of white-collar talent. Additionally, remote work tools have become a liberating enabler for a new global class of digital nomads and hybrid workers, especially with the help of the COVID-19 pandemic.

Failed tech expectations 

However, there are also examples of HRtech that have not lived up to their initial promise. Some experts predicted that personality tests and other behavior predictive technologies would fully automate the candidate selection process, but this has not come to fruition. It was also expected that once people had access to good educational materials for free, they would start learning a lot more, but this hasn't been the case. Learning seems to be a problem of motivation, not accessibility.

Let's take the example of companies trying to replicate the success of Facebook by creating their own internal social networks. Despite initial excitement, most of these efforts fell flat and now the majority of these so-called 'corporate communities' are nothing more than ghost towns. AR/VR were also supposed to transform maintenance and learning, but remained a gaming and leisure tool.

Upcoming gigs in technology for HR

The field of HRtech is constantly evolving and it's important to stay updated with the latest developments and trends. Some advancements come from the field of HR, and others come from inside the business, taking people management professionals by surprise.

1. It is likely that we will see a proliferation of robotic management systems in the workplace as technology continues to develop. By 2050, it is likely that most people will either be managed by computers or be involved in the creation of these management systems. However, there may be exceptions for the creative class of people who master high-concept pattern disrupting. Traditional people management will be in retreat, replaced by more formal (freelancers, mechanical turk etc.) and automated (robotic) forms.

2. Wearable technology will become ubiquitous and its two-way feeds will become an integral part of both our professional and private lives. This technology will provide real-time data on our physical and emotional states, allowing for more personalized and efficient management of our work and personal lives.

3. AI will dramatically improve software developer's productivity and lower the barriers for the profession. Natural language no-code interactive application development will soon be available for broad audiences of product owners or automation designers. This will make it easier for non-technical individuals to create and manage automation systems, further increasing the use of robotic management.

4. The traditional corporate job path may no longer be the go-to option for many white-collar workers as the gig economy expands. Instead, a growing number of professionals may turn to freelancing and work on a project-by-project basis. To be successful in this new economy, it will be crucial for professionals to develop their skills in marketing and sales in order to find and secure new opportunities. Remote or hybrid job arrangements like at Exness can prepare you for both corporate and freelance work. These types of arrangements allow you to gain experience working independently, managing your own time and tasks, and communicating effectively with team members who may be in different locations. 

Additionally, remote and hybrid work often requires the use of digital tools and platforms, which can help you develop skills in areas such as project management, virtual communication, and online collaboration. These arrangements can be a great way to gain the skills and experience you'll need to be successful in both the corporate and gig economy.

5. The role of traditional HR will slowly decrease and decentralize along with automation. HR professionals who want to remain relevant will need to embrace working with broader talent pools. They will need to be able to identify and manage the best talent, regardless of whether they are traditional employees or freelancers.

What to do to stay ahead in the future job market

Technology will continue to play a major role in shaping the future of work. And as it continues to evolve, it is important for candidates (regardless of their employment status) to be open to the changes that are coming.

1. It makes sense to stay on top of new technologies and trends in their profession. We recommend that candidates constantly evaluate their profession for disruptive technology and try new things out to stay ahead of the curve. By leading the innovation, rather than trailing it, candidates will be more likely to stand out in a competitive job market.

2. Marketing oneself is crucial to be successful in the job market. Building a strong online presence and showcasing your skills and experience on professional networking sites like LinkedIn is a great way to market yourself. Networking and building social capital is also important, as it will help you to become a part of successful teams and gain access to new opportunities.

3. You should seek out managers who possess a high level of competence and are willing to guide you and support your professional growth. It's crucial throughout your career, but especially in the early stages. By collaborating with seasoned experts, you'll have the opportunity to learn from the best and accumulate valuable experience that will propel your career forward.

All of these are key to staying relevant and successful in the ever-changing world of technology.


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