The HRD Summit US was recently held in Boston with Blenheim Chalcot portfolio companies Avado and Hive Learning participating on panels throughout the summit. In this article, Liam Roberts, Research Associate at Blenheim Chalcot, takes us through the key findings.
The Future: AI Robots and Your Workforce
Josh Bersin, founder of Bersin & Associates, made the case that 83% of CEOs expect the role of AI, robotics and automation to increase significantly over the next two years. This has meant that 41% of companies have already begun implementing automation across multiple business functions, with 9% implementing across their entire enterprise. The trend towards automation has contributed to the continued shift to an increasingly serviced based economy. Historically low birth rates, coupled with an increased shift towards services, will create a shortage of workers forcing companies to grow through increased productivity and quality of labour.
Employee Experience is as important as Customer Experience
Leaders should be aware of how their organisation’s employee experience affects overall employee wellbeing and, ultimately, the company’s retention metrics. From onboarding to talent development, employee experience is equally as important as customer experience and should not be neglected. Employers can assess their performance by mapping an employee’s touchpoints and scoring the quality of the experience. Employers should ask themselves “how are we building an irresistible place to work?”
AI Vs. HR Tech: who will win?
As the implementation of artificial intelligence has become increasingly ubiquitous, start-ups have begun to target the role of HR and talent teams. Algorithms are being written to screen for the best talent and evaluate a candidate’s cultural fit. Companies should evaluate the composition of their HR tech stack to ensure they are delivering the best possible outcomes for their company’s goals and requirements.
Employees have existential crises too
Employees are looking for more in their work than simply the nine-to-five. This is demonstrated by trends indicating that employees are increasingly seeking a greater cultural affinity and collective purpose within their work. Mission driven companies, where an employee’s role is framed to have a demonstrable impact on the greater picture, ameliorate these concerns. It is important that, when upskilling and reskilling our employees, we remember to invest with them; not to them.