Putting together an effective talent acquisition can be a complex task, considering the unemployment rate is the lowest it has been in decades and the large talent market. So, how do you revamp your talent acquisition strategy heading into the new year, asksÂ
Matt Thomas, President of WorkSmart Systems.
In today’s economy, many organizations are recognizing that, in order to execute their business strategies more effectively, they need to have the right talent in place. As we head into 2020, the unemployment rate is the lowest it’s been in decades and businesses are having to modify their talent acquisition strategy to attract the best talent in the market. In fact, a recent survey revealed that 53% of the 234 U.S. companiesOpens a new window surveyed are looking to make changes to their talent acquisition plans in the upcoming years. An inefficient talent acquisition strategy can cost businesses both time and money â€” neither of which many companies can afford.
Below are three ways you can adapt your talent acquisition strategy to attract quality talent as we head into the new year:
Focus on employer branding
One of the main differences between recruiting and talent acquisition is that the latter refers to the strategic function of an organization, whereas recruiting involves searching for a specific candidate to fill a specific position. Talent acquisition professionals are usually skilled not only in sourcing tactics, compliance and hiring standards, and candidate assessments but also in employment branding practices and corporate hiring initiatives.
Often overlooked, employer branding is a vital step for attracting the type of talent you want to hire for your business. The majority of today’s candidates are discovering employers through an online search. With websites like LinkedIn, candidates can have an inside look at the company’s culture through images and events. In partnership with marketing, businesses can use their websites and social media platforms to cultivate a strong employer brand, which in turn can attract better talent and achieve long-term success.
Modernize your candidate communication
With most millennials transitioning into leadership roles, there is a whole new generation entering the workforce â€” Generation Z. While millennials still having the majority of control over the workforce, employers are quickly realizing that Gen Z has a different preferred method of communication in the hiring process. In the past, email and phone calls were more than sufficient enough for millennials. As we head into 2020 and Gen Z is entering the workforce, HR professionals have found that Gen Z prefers communicating via text. According to a recent survey, 48% of U.S. workersOpens a new window surveyed said they had received a text message from a potential employer.
While Gen Z is more technologically savvy, they are also known for having a short attention span and losing interest quickly. By employers using texts to communicate, they receive a quicker response from candidates. This allows the hiring process to move more efficiently while still maintaining the candidate’s interest. For employers, it is important to fully understand the candidates you are targeting when working on your talent acquisition strategy. By adapting your strategy to fit potential candidates preferred the method of communication, you have a better chance of attracting top talent.
Eliminate the lengthy hiring process
A lengthy hiring process can be a quick deterrent for a qualified candidate. Candidates often lose interest if the hiring process is too complex or time-consuming. As technology continues to grow, HR departments need to find ways to adapt. In the past, resumes were sent through the mail or advertised in the paper. Fast forward to 2020, candidates are looking for a quick and efficient way to apply for jobs while on-the-go.
The experience a candidate receives throughout the hiring process is also becoming top of mind for HR professionals. In the past, most employers didn’t pay attention to the overall experience of their hiring process. However, if there is a disgruntled candidate, they will oftentimes turn to review sites like Glassdoor and social media platforms to share their bad experiences. For businesses, this can quickly turn into a slippery slope and provide far more damage to the company brand than it did in the past, before the invention of the internet.
While a low unemployment rate is great for the society and the economy, it does cause more challenges for HR professionals. By focusing on employer branding, adapting your methods of communication and eliminating an outdated hiring process, you can refresh your talent acquisition strategy heading into 2020. In doing so, businesses will find themselves with more proficient and qualified candidates coming through the door.