Buzzwords become buzzwords for a reason: they, and the phenomena they describe, matter. “The New Normal.” Or, “The Great Resignation.” “The Great Renegotiation.” You’ve heard those in articles, newsletters, videos, and on LinkedIn. Regardless of which buzzword tickles your fancy the most, the fact remains that the staffing industry is operating within an entirely new, complex landscape. Change has happened. Its effects on talent acquisition are myriad, thus organizations must respond accordingly.
The Problem(s) With Traditional Talent Acquisition in Today’s Job Market
American workers are quitting at unprecedented levels, but companies are still hanging on to the tried-and-true recruiting and retention strategies of days gone by. If it ain’t broke, don’t fix it, right? Well, it is broken. And it’s time companies fix it. Today, with unemployment levels at record lows, job seekers, not employers, are behind the wheel. With so many viable options for employment at their beck and call, candidates are vetting employers with incredible scrutiny. They seek transparent, collaborative environments where they can thrive. In this environment, organizations simply can’t afford clunky, unresponsive, and passive candidate experiences when looking to hire top talent. Cumbersome recruiting cycles, lengthy responses to candidates don’t work. Unfeeling, poorly-automated communication with candidates is more damaging to hiring efforts than ever before.
How Evolving Your Talent Acquisition Strategy Also Helps Your Company Evolve
Bringing your talent acquisition strategy into 2023 does much more than just increase your chances of making a quality hire. It can also catalyze launching your organization into its next stage. Not only will a modernized, efficient talent acquisition strategy help to get better quality candidates in the door faster, but it will also serve as a huge relief to your HR team. A low-friction hiring process will free up untold hours for your staff, enabling them to focus on and devote more hours to other areas of your business. Additionally, unlocking a consistent pipeline to top talent will surely facilitate growth goals for your business on an accelerated timeline. But the question remains: how do I bring my company’s talent acquisition strategy into the future? Here’s how.
Three Talent Acquisition Strategy Tips to Try Now
With 40% of the workforce planning to leave their jobs, it’s high time to reassess your talent acquisition strategy. Here are the 3 top tips we recommend you adopt:
Revamp and rely on your data:
The story of unconscious bias in the hiring process has been told time and time again. Leveraging data is the single most reliable way around it and the most effective way to shore up your hiring efforts. Studies upon studies have shown that diversity-rich organizations generate higher innovation revenues and achieve their financial targets at a higher rate than less diverse workforces. Recruiting that is data-driven helps shelter organizations from bias and boosts their chances of making impactful hires. Odds are your current applicant tracking system (ATS) has reporting capabilities that will do much of this work for you—use it. You can start by tracking a few critical metrics like:
- Source of hire
- Candidate experience scores
Showcase your unique culture:
Today’s job seeker, while fielding multiple different offers simultaneously, wants to envision a happy, healthy career trajectory with their next employer. 34% of new hires that quit within their first three months did so because of a culture that wasn’t up to their standards. Company culture matters as much as job titles, salaries, and career opportunities matter. It’s critical for your organization to broadcast its culture during the hiring process. Do you have an office dog? Great, give it its own headshot on your “Our Team” page. Don’t have an office dog? That’s fine, too; this is just an example. Just be sure to highlight other unique components of your office, team, and organization to separate yourself from others and invite people in.
Now, more than ever, technology is the great differentiator in talent acquisition strategies. Over 75% of recruitment professionals report that they use tools to optimize their hiring process and improve their candidate pool. Recruiters and hiring managers should rely increasingly on automation and artificial intelligence to distinguish the great candidate from the good candidate. This enables recruiters to focus on building relationships, while leveraging computers to do rote tasks like sorting and reminding. A resume can be a red herring—using recruiting tech can be a far more effective way to gauge skills, assess potential, and identify ideal fits.