Creating a high-level strategic plan for 2022 can be a challenge, but staying on top of the latest recruiting trends and technology allows teams to assess their current talent acquisition functions and find areas to improve in the coming months. Anticipating the number of new hires and expected turnover is a great start to developing a successful strategy. Getting familiar with broader plans on the company-wide level by having open conversations with executive leadership can also be helpful when developing plans to support greater growth efforts.
Establishing goals that are SMART (specific, measurable, achievable, relevant, and time-based) is the best approach for setting realistic goals for the team to achieve. Even with specific commitments, remember to build flexibility into a talent acquisition (TA) team’s plans and goals because the only certain thing is that plans will inevitably need to be adapted to the constantly shifting landscape.
This year, more employees than ever before may be searching for new opportunities with the “Great Resignation†bringing a record number of workers leaving their jobs. With the impact of COVID-19, candidates are often seeking remote work options, flexible workplaces, increased wages, and improved diversity, equity, & inclusion (DE&I) efforts. This is also a key time for teams to conduct employee engagement surveys to predict employee satisfaction and study historical trends. Employee turnover and hiring tend to be cyclical, with many deciding to leave their current jobs in January and searching for new jobs in January and February.
See More: How to Overcome Hiring Bias to Tap Hidden Talent
Utilize Metrics To Draw Insights
When creating new plans, relying on talent acquisition metrics tracked and measured in previous years allows teams to set quantifiable goals. How recruiters engage with candidates can determine the quality of their candidate pool, and by building a healthy talent pipeline, recruiters can frequently connect with top-notch prospects.
In today’s digital environment, two metrics to keep in mind include email and text engagement rates. It is important to know where the company stands in relation to best-in-class metrics.Â
If a company is well below this benchmark, it may be time to take a look at the quality of the email list and where the emails are being sourced. If an organization’s results are higher than this benchmark, it’s recommended to engage that audience more frequently. If an audience hasn’t been engaged in the last six months, now is the time to re-engage, especially if a hard-to-fill position is being posted soon.
Other metrics to actively monitor include time-to-hire, quality-of-hire, candidate engagement scoring, number of applicants, number of candidates hired over time and by source, average time-to-interviews, and return on investment (ROI).
Improving on ROI
Digging into one of these metrics further, focusing on ROI is worthwhile in allowing recruiting teams to build a case for improved technology and investments, contributing to strengthened internal discussions and decision-making. According to the 2021 Recruiter Nation reportOpens a new window , 64% of recruiters expect their budgets to increase in the next 6-12 months, making it a great time to invest in talent acquisition efforts and resolve any hiring challenges.Â
Teams can evaluate existing technology by creating lists of the estimated costs and benefits, in addition to analyzing key stakeholders and determining what metrics matter most to them. This is imperative in developing a plan to further measure recruitment success and ROI in 2022. Â
Leveling up recruiting efforts does not end here. With the ever-evolving job market, it is crucial that recruiters are consistently revisiting their strategies and metrics to determine best practices. Talent teams can review these worksheets as a tool to learn more about improving efforts in 2022, including guides on getting more employee referrals, creating a seamless process for onboarding new hires and improving DE&I efforts throughout the organization.Â
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