The battle to recruit top talent is intensifying. A ManPower Group survey shows that 7 in 10 companies are facing a shortage of talent. The one thing that organizations must focus on in the midst of The Great Resignation
is the shift in employee priorities. Employees are no longer shying away from changing the course of their careers in favor of other things. Understanding this and aligning the business strategy accordingly is paramount for hiring and retaining new employees in the long-term.
In this volatile job market, recruitment isn’t enough. A focus on wellness, balance and adaptability will go a long way. In this article, we’ll talk about how talent acquisition and recruitment are not the same but the two sides of a coin. We will also provide three areas of strategies and how they can help you create a high-quality hiring machine.
Hiring is still a very subjective process, and one size does not fit all. - Arran Stewart, Co-Founder and CVO
How Talent Acquisition Strategies and Recruitment Differ in the Context of Long-term ROI?
Recruitment purely aims to fill vacancies while talent acquisition considers finding qualified candidates that align with the organization’s expansion plans. For instance, recruiting candidates with strong international experience for operations in new markets. This makes it a long-term strategy compared to recruitment. Your long-term ROI effectively relies on your organization’s ability to adapt to the demands of expansion and scaling. As such, your HR efforts must address the fulfillment of these business objectives.
While the world was taken aback by the pandemic, changes in the workplace demonstrated just how severely the situation had changed overnight. The focus has shifted to improving employee experience (EX) through remote and hybrid work
policies and a newfound emphasis on health and wellness in and outside the workplace. A recent IDC study found that 56% of employees in the Asia-Pacific region prefer a hybrid workplace set-up.
Flexibility, engagement, and personal growth are just some of the aspects of a job that employees are now focusing on.
Let’s look at talent acquisition strategies that address these demands.
Strategy #1: Upgrading Employee Experience
Employee experience is the positive interaction that employees have with their organization at the workplace. It ranges from having a comfortable, well-equipped workplace to having a socially accepting and diverse culture. The following are just some of the tools that can be used to enhance employee satisfaction at every stage of the employee’s journey.
Remote work models are known to improve productivity. Major tech companies like Airbnb, Facebook, and Spotify responded to these priorities by going permanently remote. Not all organizations may be able to afford to go down that road, but providing a hybrid option may be the next best thing. Today, integrated tools for managing hybrid work let you do everything from booking a virtual desk to holding a meeting in VR to using a template for a hybrid work policy.
Promoting internal diversity is another way to level up your organization’s employee experience. Today’s location-agnostic work environments need diversity and inclusivity in the workplace to be able to sustain themselves. Tools like Blendoor that use marketplace and government data to compare diversity between organizations, can help identify specific areas of improvement and aid in crafting a more effective diversity, equity, and inclusion strategy.
Strategy #2: Diversifying Your Talent Sourcing Avenues
Having a steady flow of qualified candidates is an HR dream. Organizations can build a qualified talent pool by going after different sources of both passive and active talent.
Collaborate with local universities to cultivate an applicant pool. Many organizations use this tactic to establish long-term relationships with potential candidates and boost employee satisfaction in the long run. For example, IBM works with Harvard University and Duke University on research projects so that it can find applicants right where they are.
Explore partnerships with dedicated spaces like job boards, online academic platforms, or networking events. Placement management tools can further allow you to nurture relationships with your talent pool. You can create an ongoing talent pipeline using train-to-hire programs. Multinational oil and gas company Shell announced a unique partnership with online learning platform Udacity to implement an AI educational program. The program will allow employees to upgrade their AI skills and contribute to Shell’s core business and AI applications.
Strategy #3: Cultivate Potential Employee Engagement with Employer Brand
Employee engagement is the crucial piece of the puzzle in retaining employees.
Without appropriate engagement, it is impossible to build long-term talent acquisition strategies. With so many employee experience and engagement tools out there, it can be difficult to zero in on the right one. However, it is more prudent to identify the specific challenges your organization faces. Are your employees highly engaged? How many barely engaged employees do you have? What initiatives have you implemented to address employees who are flight risks?
Develop the employer brand as an awareness generating platform. With recruitment marketing tools, it has become simpler than ever to attract candidates. According to a Glassdoor survey, about 75% of active job seekers are more likely to apply for a position if the employer brand is actively managed. Without recruitment marketing, you will be leaving a lot on the table.
Emphasize CSR in your employer branding as part of attracting top talent that is aligned with your organization’s vision. Many companies are focusing on their corporate social responsibility. Investing in CSR initiatives makes a huge difference to your brand and positions you as a solid organizational identity.
Over to You
Recruitment marketing, EX, and engagement are just some of the factors that help you build a strong foundation for effective talent acquisition. Today, changes in the workplace have forced many organizations to revisit their recruitment and hiring rationale. The Great Resignation has exacerbated the talent shortage, and C-suites must invest in strategies that directly contribute to hiring and retaining new employees.
Frequently Asked Questions
What are some of the most prominent changes in the workplace in 2022?
Some of the changes in the workplace that organizations should be aware of include a shift in employee priorities, emphasis on social and mental well-being,
flexibility in the workplace, and the demand for a positive organizational culture.
Some of the features of talent acquisition software that can boost your hiring include:
What are some of the most important features of talent acquisition software?
Resume screening and job matching with AI automation
Applicant tracking system
Easy CRM integration
What is an example of good employee experience?
Good employee experience is demonstrated by how easy it is for people to collaborate, communicate, and do meaningful work in an organization.