Based on input from talent acquisition, development and compensation experts from across the globe, Korn Ferry has identified emerging global talent trends for 2019. "Several factors, including an incredibly tight labour market and the massive influx of data are impacting the way HR professionals and talent acquisition leaders are doing their jobs," said Pip Eastman, Managing Director, Asia Pacific Regional Solutions for Korn Ferry's RPO and Professional Search Business. "For small economies like Singapore, these issues will become even more poignant in the face of the looming talent crunch and resulting salary surge. To succeed in attracting, developing and retaining top talent as we head into another year, companies will need to stay ahead of the rising importance of artificial intelligence and talent analytics while being agile and forward thinking in their talent management strategy." Traditionally, employers raised eyebrows when candidates had employment gaps in their resumes for reasons such as caring for children or aging loved ones, or simply learning a new skill or travelling.
In a finding from a Korn Ferry global survey of 800 top business executives, 44 percent of respondents said that the growth of robotics, automation and artificial intelligence will make people "largely irrelevant" in the future of work. Unlike the earlier generation of robots that operated separately from workers, the new robots work side by side with people and typically take on backbreaking tasks such as stacking tires. At the same time, the growth of manufacturing created millions of new jobs for the displaced farm workers. Scott Adams is practice leader, supply chain and operations for Korn Ferry Futurestep.
Artificial intelligence (AI) is finding success in the back office, and that includes in financial systems and accounting departments. AI and machine learning have the potential to automate tasks that would have otherwise taken up valuable time of financial professionals and to provide deeper insights from Big Data that human power could not reasonably have achieved.
Predicting the future is risky business. You never really know if you are going to get it right. While experts may not agree on exactly how work will change in the next decades, there is growing consensus that "we find ourselves at the edge of another industrial revolution," according to Professor Sabine Kunst, president of the Humboldt University, Berlin. "Advances in artificial intelligence, the Internet of Things, and Big Data are already profoundly shifting all aspects of society -- how we work, connect, organize politically, and learn as human beings," she continues. What to anticipate, how to manage these changes, and how to ensure humans do not get left behind is what business leaders, researchers, academics, policy makers, and innovators met to discuss at the recent SAP research round table on the Future of Work at the SAP Innovation Center in Potsdam, Germany.
Artificial intelligence (AI) uses algorithms to quickly parse, analyze and spot patterns in massive data sets. Because it can adapt to the input it receives, AI can also mimic human interaction more closely, allowing it to provide more useful feedback to candidates and staff members. AI is an increasingly accepted part of everyday life and potential hires are becoming comfortable interacting with artificial intelligence. But the benefits of AI don't end with candidate conversation. Artificial intelligence can help employers find new efficiencies, allowing them to focus on building and communicating their employment brand in order to recruit top candidates.