CEO Monthly Issue 3 2019

22 CEO MONTHLY / ISSUE 3 2019 , • 29%of HRmanagers say AI & RPA greatest opportunity for business • 50%using talent analytics to plan and manage workforces • 23% say building an employer brand which appeals to a diverse talent pool is top challenge Global survey reveals AI key to talent strategies Almost one in three (29%) HR managers believe that the rise of Artificial Intelligence (AI) and Robotic Process Automation (RPA) will be the greatest opportunity for their business from a talent management perspective in the next six months. That is according to a poll of over 2,000 senior HR professionals carried out by Alexander Mann Solutions. This latest data from the global talent acquisition and management specialist shows that 68% of businesses are currently witnessing skills shortages which have the potential to impact their profitability. When quizzed on their biggest talent headaches, building an employer brand which appeals to a diverse talent pool was top of the list, with 23% of those surveyed citing this as a key challenge. Retaining high performers without large financial incentives was the greatest hurdle for 11% of respondents, representing a notable fall since 2017, when almost a quarter of HR managers (22%) indicated that this was their primary concern. The survey also found that half of those questioned (50%) are now using talent analytics to plan and manage workforces, with 14% indicating that they were using this technology ‘extensively’. A further 27% said that while they were not already harnessing people data, they are planning to in the near future. Andrew Wayland, Chief Technology Officer, Alexander Mann Solutions, comments; “With recent research from PwC finding that global GDP will rise by 14% by 2030 as a direct result of AI, it is little surprise that the HR community are increasingly exploring the potential emerging technologies. “Practitioners clearly see the positive impact that AI and automation can have on the workplaces of tomorrow, and are exploring ways to harness technology to make operations more efficient. However, while RPA and intelligent systems can boost accuracy and productivity within talent management functions - and throughout the wider business landscape - the HR leaders we work with understand and value the limitations of machines.”