The workforce is changing fast and getting started with AI sooner rather than later is key to keeping pace. But where do you start?
Your HR department could be your most powerful asset. Their work touches every aspect of the business, and with the introduction of AI-native talent intelligence, you have the opportunity to impact every level of the business.
Learn more in this guide, including:
- Finding highly technical talent that can keep pace with the changing workplace.
- Increasing retention of key talent while reducing costs.
- Powering a continued competitive advantage in the marketplace.
As a CIO, your responsibilities grow each year while the technical talent needed to fulfill these obligations becomes harder to find. Budget, automation, compliance, customer expectations, governance, and enablement — these pressures build while the talent with critical skills like AI and machine learning remain elusive. On top of that, new emerging technologies continue to vie for your attention and budget.
You know AI is vital to your organization’s success, but prioritizing solutions across departments isn’t simple. In other words, because you can’t invest in every AI-powered solution, you must decide which departments and solutions you’ll invest in first.
Our advice: start with HR. It’s your employees who have been — and will — power success at every level of the organization, including in IT. Without the right talent in the driver’s seat, your AI initiatives, and your entire organization, won’t live up to their potential.
In this guide, we break down how talent intelligence can help your HR and IT teams find top talent, increase retention, and improve organizational performance.
What is talent intelligence?
Talent intelligence platforms use deep-learning AI to distill insights from billions of global talent data points to help your HR team make data- driven decisions throughout the entire talent life cycle. With a talent intelligence platform, your HR team can use AI-powered insights to:
- Identify, hire, and build talent with critical skills to drive innovation and capture market share.
- Make informed hiring decisions based on skills and potential while improving the candidate experience.
- Create personalized learning pathways for employees that are complementary to the organization’s strategic goals.
- Inform data-driven succession planning based on merit, skills, and potential.Partnering with HR to help implement talent intelligence makes sense. IT relies on HR for recruiting and retaining valuable tech talent. HR depends on your team for tech, processes, and services — which your team plays a key role in implementing, automating, and enhancing.It’s a strategic, mutually beneficial relationship that can take your organization from reactivity and talent scarcity to proactive measures and ongoing success. Here’s a closer look at how talent intelligence can help your IT department find better talent and help the entire organization carve out a competitive edge.
The top 3 CIO needs talent intelligence can address:
Finding highly technical talent
Work is changing fast, and the CIOs who aren’t prepared will lose any competitive advantage in their industries. Talent intelligence platforms can help you create a future-ready workforce by instantly revealing which skills your employees have, which skills are rising or falling in the industry, and which skills your team still needs.
Armed with those insights, your team can partner with HR to build, buy, or borrow talent — that is upskill, hire, or contract out work — with the skills that will drive success.
Increasing retention of key talent while reducing costs
As your IT team has to do more with less, losses in productivity from voluntary turnover — and the added strain on remaining employees — only compound existing budget and personnel problems. Turnover doesn’t come cheap either, as the cost of replacing an employee can range from one-half to two times the employee’s annual salary.
To help increase retention and employee satisfaction, HR and managers can use talent intelligence platforms like Eightfold to improve the employee experience through:
- Career planning: Talent intelligence platforms can connect employees with relevant opportunities — projects, courses, mentors, or jobs — within your organization and help them create customized career plans.
- Internal mobility: Talent intelligence platforms can look at skills adjacencies and learnability to surface relevant internal opportunities for employees and help recruiters quickly discover internal candidates for open roles.
- Succession planning: With talent intelligence, organizations can see everyone’s role readiness based on their skills — not their connections — giving managers deeper insights into qualified successors.
Your employees want to learn viable and valuable AI skills. Not only does a modern, AI-powered employee experience help retain employees, it also benefits your company, as hiring a new worker can cost seven times that of upskilling an employee.
Powering a competitive edge
Organizations can be sluggish when adopting new technology. But waiting until others in your
industry have proven the effectiveness of certain technologies carries a hefty price tag.
According to McKinsey, organizations that have strong innovation cultures extract more value from their tech investments. They’re more likely to move ahead with strategic technology investments to help them secure future growth.
