This year, we had the pleasure of hosting IBM’s Global Leader of Talent and HR Reinvention Strategy, Elizebeth Varghese, for the first episode of our new event series, HR at the Table. While the entire episode was full of valuable insight on the progression and future of HR Reinvention, Elizebeth outlined how organizations can reinvent their hiring strategy today through technology, with particular emphasis on AI.
But, before we jump into the five steps of HR Reinvention, let’s explore what “HR Reinvention” even is.
According to Elizebeth, we’ve reached an inflection point with emerging technologies like AI, Blockchain, Machine Learning, etc. Consequently, the very fundamentals of how HR’s work gets done is changing at a much more accelerated pace than ever expected. HR went from E-HR (web-based HR) to blockchain just like that (*snaps fingers*).
With this, organizations are facing three significant trends in business dynamics:
Thus, HR Reinvention is ultimately three things—embedding into the business, understanding business requirements, and seamlessly delivering HR services to the organization
The number of AI platforms and solutions out there is endless. So, instead of being overwhelmed with the capabilities of AI, it’s important to take a concise, high-level approach by framing AI in terms of what it can actually do for you—explore the art of the possible.
To do so, start asking questions like:
Exploring the art of the possible with AI may take some time, but it’s a necessary step to shape the future of your reinvention process.
Next up: Know the needs of your organization. The key to this step is listening. Deeply listen to the needs of your stakeholders, and when we say stakeholders, we’re not just talking about your leadership and executive team. Understanding the needs of your organization means taking a multi-disciplinary approach and listening to your employees, your HR team members, and other departments within your organization to understand what they need and/or require.
By taking a multi-disciplinary approach, you can:
According to Elizebeth, the third step to reinventing HR is understanding the process and data requirements of the organization. This includes taking into account the current state of your organization’s data environment and architecture.
To do so, consider:
Every organization’s data environment will look completely different—and that’s okay! The important thing is to recognize where your organization is in its current state and build from there. This step has to be addressed before you explore your potential tech stack needs (step 4).
If we look back to the art of the possible (step 1), the capabilities and options of AI are endless. There’s a plethora of growing AI players and solutions that can help solve your organization’s needs. This second-to-last step in HR Reinvention is where you combine the art of the possible with your organization's requirements and current data environment to start building the tech stack you need.
“Based on your organizational requirements and the state of your data, you will probably need a different tech stack.” - Elizebeth Varghese
Once you’ve outlined your tech stack, you’ll need to build a business case for it as well. Consider costs, timing, implementation support, and start calculating the ROI.
Tip: Most organizations struggle with calculating the ROI of their HR tech stack investments. Download our TA Tech Buyer’s Guide for tips on calculating ROI on your HR tech investments.
According to Elizebeth, the most important step to HR Reinvention is creating an implementation roadmap. While you’re not going to do it all at once, it’s important to build out a roadmap of how you’re going to reach your success point.
To construct your roadmap, consider including:
HR Reinvention is here, and with this five-step approach, you can reinvent your hiring strategy, strengthen the value of HR, and transform your organization. Just remember these five steps:
For more insight on the reinvention of HR through technology, listen to episode one of HR at the Table with Elizebeth Varghese, IBM's Global Leader of TA & HR Reinvention Strategy.