It’s a “weird” market right now. And it’s been a “weird” year. Talent is in short supply, yet staffing revenue is forecast to sag 10% this year compared to last. But despite recent turmoil, the entire workforce ecosystem will see massive advances in speed, efficiency and innovation over the next three years.
That was the consensus of executives who spoke on a panel about the convergence of tech, talent and suppliers at Staffing Industry Analysts’ Collaboration in the Gig Economy conference in Dallas on Sept. 21. Even as panelists acknowledged challenges ahead, they laid out their clear visions for the future and what it will take to get there.
“It’s a weird sort of market right now, so, for me, it’s about building resilience and taking the time. Now is the time to innovate,” said Greg Dyer, the chief commercial officer of Randstad USA, speaking on the SIA panel entitled “The State of Convergence for Tech, Talent and Suppliers.” Dyer continued, “Where should you be taking the business in the future? Where are you creating value for your customers, your stakeholders?”
The answer? Artificial intelligence will solve a plethora of problems, such as speed of placement, while also opening new business opportunities, the executives said.
“When I think out to the customer, we’re going to see more [things like] implementations, configurations that are going to be automated,” said Teresa Carroll, the CEO of Magnit. “But where I’m most excited is where we can do more around insights and analytics, and really helping our customers figure out how to speed up that supply chain or figure out how to get better access to the talent pools that are coming into the workforce today.”
Redeployment, too, will likely benefit from smart use of AI, Carroll added. “How can we all redeploy better so that we aren’t taking as long as it took (before) to go out and find the same person again?”
As more Gen Z talent enters the workforce, they will likely welcome efficiencies that automation can bring to job searches — more than prior generations, who are accustomed to paper and phone calls. “I’m really excited by this trend that’s around self-serve for talent and candidates,” said Eric Ly, the co-founder of LinkedIn and current CEO of KarmaCheck.
One thing that likely won’t change in the next three years, AI or not, is the shortage of talent, Carroll said. “There aren’t enough workers going forward for all the demand. … We’re going to have these labor shocks, and we’re going to need to remember that talent has a choice.”
Despite technology’s many benefits, Carroll, for one, isn’t worried humans will be disintermediated. “I think we’re all going to get a lot smarter and a lot better at what we do,” she said. “I’m looking forward to it.”