Data shows that the number of vacancies continues to rise. At the same time, the number of candidates continues to fall. Throw into the mix the reports that the global talent shortage is now at its highest in a decade, and what you have there is three vital reasons why HR teams need to up their game and get the best possible results from their hiring processes. It's never been more important to get the absolute most from your talent acquisition strategy.
There are five clear steps to getting better results and the good news is they are nothing new. However, get these five things right and you will be well on the way to returning the results you want and need.
Data is king
The potential of data analytics has been well documented but the simple truth is that there are still some HR functions that either don't have access to the data they need, or the knowledge of how to use it to get better talent acquisition results. Any HR team that recognises themselves as being in either of those two categories must address this as a matter of urgency. Until the data is used, confidently, it isn't really possible to fine-tune and streamline recruitment strategies in the ways that might be necessary. For long term success, the ability to be able to interrogate data and to anticipate hiring patterns and skills demand is crucial.
Use the talent pool
A talent pool, however large it might be, is next to worthless if HR teams do not engage with it. Many fail to approach previous applicants when new vacancies occur. Rigorous analysis of the skills and experience of those in a talent pool should enable the most qualified to be fast-tracked when suitable positions arise. Talent acquisition needs to be proactive too. This means engaging with passive talent as much as possible.
Retention and recruitment
Of course, another way of looking at talent acquisition is to focus more on the talent you already have. Working more on retaining the existing talent in an organisation really is a win-win situation. Focus your efforts on retention and you should see a fall in vacancies - because less people leave. By developing and training the staff you already have, you should be developing the skills and experience necessary to fill posts successfully from within. And, developing a strong employer brand will only make an organisation more attractive when external candidates are required. It's estimated that around 40% of people want to leave their job because they feel undervalued. Organisations that work hard to make their employees feel valued, whether that's through accommodating flexible or remote working, or simply by making employees feel appreciated, could stop a skills and brain drain from the organisation.
Mobile is the future (and the present)
Experts argue that mobile apps will completely take over HR technology in the years to come. But while mobile is definitely the future, it's the present too. People never leave home without their smartphones. On average, Britons collectively check their mobiles one billion times a day. We expect to be able to do virtually everything through our smartphones. The truth is, we can do virtually everything these days - and recruitment is certainly one of those things.
Focus on time to hire
The most important step to take to get better results from your talent acquisition strategy is to focus on reducing time to hire. The average time to hire continues to rise and not only does a protracted time to hire cost an organisation money, it inevitably means that it will be missing out on the top talent - which costs the organisation even more in the long run.
This article was written by Simon Benford-Blows, Director - RPO, Talent Acquisition, EVP, Recruitment, Outsourcing, MSP, VMS, Graduate & internship, Workforce Planning at Pertemps.
Connect with Simon on LinkedIn here.
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