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What does AI mean for your employee value proposition?

Wed, 03 Jul 2024 01:22:01 GMT

In research we conducted last year into the employee value proposition (EVP) messaging of 140 organisations, only 1% talked about investing in the jobs of the future.

Are you one of the 99% or the 1%?

It appears to be a hard question because what does a job of the future look like?

One aspect which is becoming clearer by the day is that the jobs of the future will require employees to augment their work with AI. This is a big jump from other technological evolutions which have predominantly focused on reducing manual aspects of work (through automation) making employees more physically productive in a tangible way.

Artificial intelligence is different...it does some of the thinking so the outcomes might be observable but the process to get to the outcome is not as visible. This creates a different workplace dynamic which will impact employee experience.

So what does AI mean for your organisation's EVP?

I couldn't resist...I asked ChatGPT, and this is what it said:

" AI enhances your employee value proposition by automating routine tasks, allowing employees to focus on creative and strategic work. It offers personalised learning opportunities, improves decision-making with data insights, and fosters innovation. AI also enhances workplace efficiency and job satisfaction, making your company more attractive to top talent. "

So, if you accept this definition the next question is "how?" and this is the essence of the challenge organisations face.

Additionally, you need to remember that there are different ways employees can augment their work - robotics made workplaces safer while automation removed manual involvement in routine tasks...and we can't forget that not all employees focus on strategic or creative tasks.

What AI cannot replicate is interpersonal interactions. It can chat (via text or voice) but it is emotionless, and although there are moves to make AI more "human" there are currently limits as to the range of variable situation AI can support vs the ability of good employees to react and manage situations. Particularly with customers.

Basically - we humans are better at empathy than AI and this needs to be reflected in an EVP because this will increasingly be the unique experience people will have in companies as routine and analytical tasks are outsourced/allocated to technology.

So my EVP doesn't need to reflect AI?

No - your EVP does need to define the experience your employees will have with AI and other technologies in the workplace...and in a context that is relevant for them.

Employees need to believe that their contribution is valued. This could be based on the role they currently hold, the cultural contribution they make, or the way they build new pathways for the organisation to grow.

An EVP of the future needs to focus on how employees are valued. It needs to reflect that employees of now and in the future will have a wider range of tools at their disposal supporting them to be more effective in their roles, with clarity around the value they will both bring and feel.

An EVP that just talks about how AI will make you more creative, strategic, productive, improve your decision-making and foster innovation while taking some of your routine tasks away doesn't sound that good when you realise the underlying message...you are not adding enough value the way you are working now.

Organisations need to carefully navigate the transition - the EVP must highlight the value of empathy to the organisation, and this can often be represented in terms of authentic customer and employee experiences rather than automated ones.

In a world where everything is structured and automated, a little bit of chaos, a little uniqueness...a little bit of humanity will set your EVP apart and help you be recognised as a first choice employer of people.

...you might even get some AI applications for your roles too!

About the Author

Malcolm Peak is the founding director of Peak Corporate Solutions, a Sydney-based EVP development and Advisory practice.

5 Key Trends Shaping Finance Recruitment in 2024

Wed, 05 Jun 2024 12:03:59 GMT

As the finance and accounting landscape continues to evolve, recruitment strategies must adapt to meet emerging challenges and capitalize on new opportunities. Here are five key trends that are transforming the way companies find and hire top finance talent in 2024.

1. Data Driven Hiring Decisions

In 2024, data reigns supreme. Recruitment strategies that lean into data analytics are gaining traction, enabling hiring managers to identify the best candidates quickly and efficiently. From analysing candidate experience and skill assessments to benchmarking salaries, data offers a strategic edge in reducing hiring time and costs while improving the quality of hires.

2. Soft Skills in High Demand

Technical expertise is a must in finance and accounting roles, but employers increasingly prioritize soft skills like communication, adaptability, and strategic thinking. With automation handling more routine tasks, professionals with excellent problem-solving skills and the ability to interpret complex data for strategic decision-making are highly sought after.

3. Hybrid Work Culture is here to stay

The hybrid work model has shifted from being a temporary solution to a permanent fixture. Candidates now expect greater flexibility in work location and hours. Recruitment strategies need to emphasize a company's remote-friendly culture and work-life balance to attract top talent seeking this new normal.

4. DEIB Initiatives in Recruitment

Diversity, equity, inclusion and belonging (DEIB) remain top priorities in recruitment strategies. Companies are revising job descriptions, using unbiased assessment tools, and expanding their reach to tap into diverse talent pools. A focus on DEIB isn't just a trend but a business imperative for building innovative, resilient teams.

5. Upskilling and Continuous Learning

In an era of rapid technological change, upskilling is vital. Professionals who invest in continuous learning through certifications, courses, or hands-on projects stand out. Companies actively seek candidates eager to embrace new tools and adapt to emerging trends. Employers are also providing upskilling opportunities internally to retain and develop their current workforce.

At Shotland Consulting we specialize in helping businesses find candidates who align with the latest industry demands. Reach out to us today to learn more about how we can help you stay ahead in 2024

Diversity in Recruitment in Australia: Why it Matters and How To Make It Happen

wow@shazamme.com (Default Author) — Wed, 15 Nov 2023 12:09:07 GMT

Diversity is more than just a corporate buzzword these days—it's a driving force that shapes innovation, resilience, and long-term success. Australian companies are starting to catch on and realize how crucial it is to have diverse teams in the finance sector. Let’s chat about why diversity matters, the hurdles some companies face, and how to create a finance workforce that’s as inclusive as it is talented.

First, let’s look at why diversity is so valuable . When your team comes from different backgrounds, you get a wider range of perspectives and problem-solving styles. This can lead to more creative solutions and better decision-making. Plus, when your team reflects the diverse world we live in, it becomes easier to understand and respond to changing global market trends, making your company more adaptable.

It also strengthens relationships with clients . In Australia’s multicultural society, finance teams that reflect this diversity are better positioned to understand and serve their clients’ needs. And, when companies have strong diversity and inclusion policies, it’s easier to attract and retain top talent who want to work in progressive and supportive environments.

But, let’s be real . Creating a diverse workforce in finance isn’t always straightforward. For one, unconscious bias can creep into the recruitment process, which sometimes means great candidates are overlooked. Then there’s the issue of representation; if underrepresented groups don’t see people like them in leadership roles, it can feel like there’s no clear path forward. And standard hiring practices often miss out on non-traditional candidates who could shine with the right support.

So, what can you do to build a more inclusive finance team? Start by taking a good, hard look at your hiring policies and getting rid of anything that might unintentionally exclude certain groups. And maybe it's time for some unconscious bias training to help your recruiters and managers recognize and challenge their assumptions.

When writing job ads, use inclusive language that doesn’t scare off diverse applicants . Reach out to specialized recruitment agencies that have a better handle on accessing a broader pool of candidates. And think about setting up mentorship and leadership programs to help underrepresented groups climb the career ladder while fostering a culture where everyone feels valued.

Ultimately, building a diverse workforce is good for business and society . By embracing inclusive recruitment strategies and creating a culture that values every voice, Australian companies can lead the charge in making diversity a cornerstone of the finance sector

Let’s work together to make finance recruitment a place where diversity isn’t just a talking point but a key ingredient to success. Reach out to [Recruitment Company Name], and we’ll help you build a team that reflects the world we all live in.