Last week we asked for your HR predictions for the year 2023. And, a bunch of people called us out for not providing our own predictions!First off, thanks for everyone who did that :)Without further adieu, here are our predictions:
- Rise of People Ops: Right now if you search "PeopleOps" OR "People Operations" on LinkedIn, you get 5,218 results. That's vs 2.7 mm results for "Human Resources" OR "HR" - we think the future of HR is a re-brand to PeopleOps. In fact, we think the number of PeopleOps people will 40x to 200,000 by 2023. What do you think?
- HRTech Consolidation: There are hundreds of ATS's alone. Bottom line is there are just way too many providers of HRTech out there, and there doesn't seem like a logical reason for so many to exist beyond the amazing bull market we are in. When interest rates go up (making VC dollars much more expensive), and unemployment rises, we'll see a lot of these vendors go away. We'll also see some of the best software companies in the world (Google/Facebook) entering this market more aggressively as they realize there are massive dollars to be won away from the hands of legacy solutions (sorry, Taleo).
- Recruiting Becomes Consulting: The best recruiting firms are now looking a lot more like Bain/BCG than they are disorganized sales teams designed to fill seats. This trend will continue with recruiting firms helping set the TA/HR strategy for their customers, in addition to filling executive roles.
- The Death of LinkedIn: I'll admit, I took a sneak peak at the results we've collected thus far in our survey. We asked a question around what HRTech won't exist in 2023. And, NOT ONE PERSON PICKED LINKEDIN! In 2023, LinkedIn will be around 1/10th as powerful. Much of the data they have already exists online in 2018. Plus, Inmails and an overpriced ad marketplace are not going to cut it going forward. Monster was a $700 mm revenue company when Randstad bought them a few years ago...after years of decline. So, I won't bet too much against inertia. But, I will bet that the best TA organizations rely less and less on LinkedIn in the short term, with the rest of the market not too far behind when they realize the savings they can reap by weening themselves off LinkedIn.
- HR Owns the Employer Brand: Much has been written about employer branding. Most companies are still way behind the curve. That will have changed drastically by 2023. It will be odd for an HR team not to control their careers site. Having a talent community will be as common place as a company having a newsletter. And, there will be more sophisticated attraction strategies than posting on job boards. The lowest hanging fruit of content marketing will be the main driver to attract and convert top talent.
Next week we'll be sharing the results of the survey to see who you think the next wave of influencers are, what tech will die, and what HR will be called. If you see this before August 15th, 2018 - please take the survey!