Matt Pietsch, chief revenue officer at AI and predictive analytics firm Engage Talent, now a Workforce Logiq company after it was acquired in November 2019, thinks companies need to focus on modernizing talent acquisition.
“The speed and quality of the hire is critical. Recruiters must innovative and use effective tools or risk being left behind,” Pietsch said in an interview with the AIM Group.
Pietsch is one of the guests at RecBuzz, which will be held in Amsterdam from April 23-24. His keynote speech will focus on predictive analytics and how it can help recruiters find talent quickly.
“We use real AI, not just machine learning. We produce validated scientific research working with actual data scientists who’ve given their whole career to solving problems relevant to recruitment,” Pietsch said. “This helps recruiters predict who will leave a company, to target engaged employees effectively and identify which employees a company could lose, so they can retain or realign talent.”
The AIM Group interviewed Pietsch ahead of his talk at RecBuzz:
What are the most urgent problems in the recruitment process?
The main task is to maintain a competitive edge in the war for talent. Recruiters need to recognize how they interact with a candidate has a critical impact on a candidates view of their brand.
Even if they get the job, if they think the recruitment process was bad, they start off on the wrong foot and could end up leaving earlier. If a candidate has a poor experience and is not hired, the recruiter could also lose them.
The speed and quality of the hire is critical. Recruiters must use innovative, effective tools or they risk being left behind. We are aiming for a ‘zero time to fill’ strategy, whereby we have a bench of people ready to be targeted for specific roles.
There are many AI tools out there, but are they usable, can you put them into practice and leverage them to get a competitive edge. HR executives need a seat at the executive table, rather than being seen as a cost-line item. Hiring the right people has a crucial effect.
Which challenges are most pressing in your country/region?
For our business, it’s reaching candidates at the right time, encouraging customers to move to automation and technology-enabled systems and getting them to realize that we are helping them with the war on talent.
Skilled software engineers, for example, are in demand and a candidate could leave a position at 8am and have a new role anywhere in the world by 8pm on the same day. Our role is helping companies get their hands on that talent.
What are the strongest disrupting forces in the recruitment market today?
I think AI and predictive analytics are key as they help recruiters recognize trends before anyone else. Leveraging real predictive analytics is the most innovative approach.
We need to help recruiters to sift through buyer confusion from options from all the new companies and technical solutions available at any one time. We do this by getting to know our customers businesses and what challenges they have.
Who will be among the winners, who among the losers?
A trend over the last 3-5 years is organisations buying in different solutions. We think they now prefer to find one partner who can help with many different solutions.
We have the most complete talent intelligence platform to help companies with contingent, contract and full-time labor to help vendors and provide RPO and direct source solutions. This creates opportunities for smaller companies to be acquired if they offer niche solutions.
What is Engage doing about disruption in terms of changing business activities?
We are expanding our global recruitment services in the U.K. and Europe to provide end-to-end solutions for our customers and focusing on talent mobility and retention.
What are key themes in your presentation at RecBuzz?
I will be sharing insights into predictive analytics, how to predict more and react less and the role of AI in transforming recruitment.
I’ll be showing what organisations need to do to leverage predictive analytics, how the world of talent acquisition, engagement and retention is changing and how the technology is transforming in ways many other industries have already experienced.
I want to discuss why it’s time for HR technology to evolve, the status quo that needs to be broken and how fresh HR technology will enable stronger recruiting, engagement, and retention strategy and execution.
Matt Pietsch is the latest in a series of interviews with speakers at the RecBuzz conference, which will take place in Amsterdam from April 23-24. Pietsch, who previously ran his own agency, has spent the past 15 years leveraging HR technology and solutions to help companies effectively identify, source and screen talent across many industries globally.