How to overcome 3 common talent acquisition challenges
Those working in talent acquisition and HR will know all too well how rapidly things can develop in this sphere. Significant growth and development in recruitment have presented a variety of opportunities for professionals involved in the talent acquisition process, but it has also brought with it a variety of challenges. Three of the most common and pertinent problems were discussed at a recent Talent Leaders Connect Breakfast Forum, with conversation generated around addressing and overcoming these challenges. Here’s our take on it:
The importance of brand identity
Your brand – and in particular, your employer brand – is absolutely critical when it comes to attracting and retaining the best talent. The evidence behind this is overwhelming – for example, 69% of job seekers are likely to apply for a role if the company actively manages its employer brand, which can involve updating social media profiles, responding to reviews and comments and sharing information on the culture and work environment. In addition, more than 80% of business leaders agree that employer branding has a significant impact on their ability to hire talent, according to LinkedIn.
The link between your employer brand and the candidate expectation of your organisational culture and structure cannot be understated. Whether you’re a well-known corporate or a smaller boutique firm, you need to focus on your EVP and how your company is perceived by those outside of it – whether that’s via platforms such as LinkedIn and Glassdoor or the messages your existing employees are sharing. Talent Acquisition, HR and Marketing must all work together to ensure the right perception of your company is being projected internally and externally.
Your recruitment process will also have a significant impact on employer branding, as candidate expectations of user-friendly application processes increase as numbers of applications for vacant roles continue to rise. We know from our Breakfast Forum that some Talent Acquisition teams are managing upwards of 10,000 applications a year with a team of fewer than 20 recruiters. Such high volumes with comparatively small resourcing teams will inevitably lead to slower, less personal recruitment processes, so you need to implement approaches to overcome this. One option is Kelly Service’s Project Resourcing function, which acts as a ‘plug and play’ solution to help manage spikes in activity without breaking from your established brand. Technology can also be helpful, with automated responses and video interviewing both ways to speed up the end-to-end recruitment process.
Business connection with talent acquisition
More than 83% of organisational leaders say that talent is the number one priority in their business, according to LinkedIn, but do they fully understand what is required to attract and retain the best people on the market?
We know that Talent Acquisition and senior leaders need to work together to ensure everyone understands the realities of the recruitment landscape, and what is required to improve the resourcing function. Recruitment partners can be brought in to act as consultants to the business, providing professional expertise and advice to help support this relationship. Another strategy used by some is compartmentalising roles and functions within the resourcing function – for example, having one person in charge of employer branding and candidate engagement and another overseeing stakeholder management and liaison.
The competitive market for talent means that teams must work efficiently and cohesively to snap up the best people. Hiring managers and recruiters must align to identify crucial elements of the talent acquisition strategy, including the ideal profile and process, as well as getting buy-in from the rest of the organisation.
Quantifying a good hire
We all know how important it is to secure great talent for your organisation, but how do you quantify what a good hire looks like? We all know the cost of a bad hire can run into the thousands – and can generate losses of up to £15,000 for businesses, according to CV-Library – but what added value are you looking for from a more successful employee?
When looking into the ROI of a good hire, you need to consider core criteria such as tenure, training time, speed to competency and productivity. Factors that influence whether someone becomes a good or bad hire can include everything from the quality of the recruitment brief and selection criteria used through to the training and on-boarding process and development plan for employees. Not all of these functions come under the Talent Acquisition umbrella, which makes it even more important for different parts of the business to work together to secure quality hires.
Seek assistance from the experts
Even the most efficient and effective Talent Acquisition and HR teams need support from recruitment partners, whether that’s by way of Project Resourcing solutions or Permanent Placement. Whatever your requirements, we can help. Contact the team at Kelly today to start the conversation.