Even as we see some signs of labor market stress, there is no denying that Technology is powering through the next wave of revolution. Last week, at its annual developer conference, Google announced the second release of its conversational AI system, LaMDA, which stands for Language Models for Dialogue Applications. Google says LaMDa 2 is a more finely tuned version of their original release that uses open-domain dialogue technology for conversation.
LaMDA was trained with dialogue (a dataset of 1.56 trillion words from public web data and documents, to be exact) to allow it to have what the company calls “natural, sensible and specific conversations.
Such technologies are still in their beginning stages, but it shows the power of what AI can do in places like Customer Experience.
If we think Digital Transformation can somehow slow down and we can be reactive to inflationary pressures, then we may once again miss out on the transformation speed and its power. This time is precisely when you want to accelerate and power through
But some foundational questions can be beneficial to a Recruiter and Workforce Planner. I spoke to technology and business leaders with an objective of how they (Recruiters and Workforce Planners) should interact with them and the questions they should be asking. Here are some valuable tips (synthesis of 10+ interviews only so, not a large set of interviews but will be helpful for you)
- Establish a mental map of what you are hiring/planning for: Any function has specific layers of understanding. These layers are your way of understanding and need not be very precise but provide a way of grounding yourself. Say, for example, Technology; the following are the Mental Map layers to understand Technology (as given by a CTO)
(Software Development, Infrastructure, Data Engineering, AI/Data Science, UI/UX, Product Management). Now, this is not necessarily a Job family classification but higher levels of classification layers for you to understand what is happening in Technology. (Whether it is the supply chain, Call Center, or HR, such mental maps exist and can be helpful)
- Seek Clarity on the Foundational Skill: We do a lot of studies on compelling Job Descriptions and recently found the job description of a fintech company called Tradeshift very effective.
It read like this:
You are a clear fit for this role if you have a Bachelor’s or Master’s degree in computer science or equivalent experience and a solid knowledge of Java, as Java is the only real Technical must-have skill
(For this company, they focus on getting people with deep Java expertise, and the vision is very clearly understood and communicated
- Complexity is not an enemy: As you learn about new skills you are unfamiliar with, the words you may not understand, you can start placing them on the mental map. An example of expanding Mental Map into Job roles and skills and the associated professional skills. This exercise need not be complete and can be directional and can refine over time
- Understand the flavors of roles within the Mental Map areas: Companies have strong views on certain job roles. In Software development, some companies may go for specialized roles such as Backend development, while some companies will target Full Stack Developers
- When a new concept emerges, try and map the use cases associated with the same. So when you hear something like a Metaverse/Web3.0, the following are the applications of the same (Such a concept still follows the aspects of Software Development, Infrastructure, Data Science, and UI/UX). Some specific tools/platforms may evolve to make certain aspects more manageable, but the mental maps are the same!
A lot of employee training and customer interactions are expected to happen through Metaverse in the next 3 to 5 years
- Constantly Recalibrate: The external labor market can be studied through these lenses of availabilities. Web3.0/Metaverse is expected to create more technology development in Lat Am and Africa (for example)
From a talent needs standpoint, the next 3 to 5 years are essential to scale and rapidly put your company in a superior growth phase. Any pre-mature slow down in hiring may drastically impact your company’s future. However, what you can control is cost and the yield across hiring channels. A stochastic model for understanding variability and how to Optimize costs across channels can be a beneficial exercise. Such an exercise will help you control the cost of recruitment without sacrificing the addition of the right talent