How can dinner at the Ivy be so tiring?
Picture the scene: it’s the private room at the Ivy Club, the menus are printed (prawn acocktail, fillet steak and chocolate bombe, since you ask), the guests have all arrived on time – a selection of CEOs, MDs and CMOs from the largest and most dynamic talent solutions firms in the sector, collectively responsible for billions of pounds under management and filling millions of permanent and contingent placements each year. And it’s the day before we break for the Easter holidays.
It’s an evening of networking, socialising and sharing insights and ideas about how the sector can better serve its clients. All I have to do is facilitate a friendly discussion and enjoy a glass of wine or two with dinner.
And then someone mentioned the issue of how AI is disrupting the recruitment process – it may have been me, I’m not entirely sure. But what I am sure about is the discussion that followed may be one of the most important I’ve been involved in for some time.
Because, here’s the thing, whilst everyone agrees that AI in the assessment and hiring process is here, and here to stay, there are a variety of views on a) how much of an issue it actually is right now, and b) what needs to be done.
A lively debate followed and whilst I’m not clear if we reached any definitive conclusions, there were definitely some key points:
The current and continuing disruption in the market is a huge growth opportunity for talent solutions providers. It should help them focus on growing the market overall rather than to continually fight over the same clients who, too often, are driven by cost rather than value.
Their capability to assess and deploy technology (whether AI or not) is typically far more advanced than their clients. This is overwhelmingly supported by the entries to our TIARA awards which consistently show that talent solution providers have far more expertise than TA functions on how to assess, deploy and optimise tech.
International expansion offers growth outside a currently flat UK market but also the complexity and risk of accessing candidates in multiple jurisdictions for their current clients. The opportunity can be de-risked for clients and providers by innovative compliance and insurance solutions. Fortunately our partners Giant Group and Jove Insurance were there to explain how!
In summary, the speed of AI led change in talent supply chains is only going to accelerate and with their broad reach and deep expertise, talent solutions providers will become more strategically important to their clients than ever before.
I never did get to finish my chocolate bombe, but at least I have an Easter egg to look forward to.
