One of the most crucial objectives for the culture of Talent Acquisition (TA) is change management, the systematic approach to building an organization to growth and for creating processes that effectively tackle transformation in a business environment.
Understanding the economic, technological, and social challenges and the marketing environment, of the organizations and how those affect business is pivotal in the talent acquisition process. The hunt for the most capable individuals has become harder than ever before, as the factors involved in the process have significantly changed because of, growth in education, industries, and modernization as a phenomenon, in general. This is not a bad thing though, and the process of talent acquisition requires a degree of realignment to build upon its existing efficiency.
Talent Acquisition Process Challenges
As we know, acquisition can be a complicated task, and it takes a lot of time to hire the right candidate for the job and also to avoid the bad hire. A team tackles lots of challenges throughout the hiring process. And to improve the branding of an organization, they are required to fill the open position within minimum time.
Open positions for a long time impact the organization’s goodwill talent acquisition is now the first priority of every company. Recruiting agencies, irrespective of size wants to form a thoughtful talent pool that will benefit them in the future. The talent acquisition process is the deepest process, where the recruiter has to pass each stage along with the candidates. And during these phases they face many issues.
To understand it better, we take a closer look at some major challenges holding back the process of talent acquisition.
- Uncertain and Volatile Markets
Today, the process of acquiring talent is fiercer than at any time in recent memory, requiring shorter, more intense business cycles and needing to center around projects versus employment terms. This has made the international job market uncertain and to solve this issue, big data has come up with solutions to provide better indicators, be proactive and fill ability pools rather than just responding to requirements, and changing the blend of talent sources.
- Managing Transparency and Image
At present, applicants have more access to business data than before, thanks to a vast part to increasing reliance on the Internet. Most organizations are presently an open book, and applicants can, without much of a stretch, get an unmistakable idea of their way of running the organization – for better or in negative ways. The solution, of course, is to double down on PR factors, branding, and presentation, as today, execution and style matter as much as performance. As such, it becomes imperative to get a hold of the factors controlling these to steer the right message about the organization. Discover what representatives are saying with regard to you by running a look for your organization on online platforms or forums to guide public opinion as well as improve operational capacities.
- Consumer Culture
The process of scanning the candidates for employment looks progressively more like the way customers interact with their suppliers. They instinctively desire the process to be akin to their online shopping experience due to the precedence set by the internet itself. To be viewed as prospective hires, candidates must go the extra mile in this case, showcasing best practices and using their metrics for success in the number of organizations that get back to them. This reflects their dedication and capabilities.
- Managing recruitment costs
Recruitment often faces competing pressures from leadership: keeping recruitment costs and overheads low while getting a steady stream of high-quality talent and staying up to date on the latest tech-enabled processes is imperative. Operating reactively to talent requirements leaves little time to develop a forward-looking strategy to fill roles efficiently now and in the future. Depending on cost-per-hire metrics usually leaves other soft and hard costs related to unfilled positions unattributed, creating it hard to identify places for cost savings and advocate for further investments.
- Inefficient Talent Search
Many companies make the mistake of going ahead with a broad search of talent pools rather than specific demographics to not miss out on the competitiveness of the market as a whole. Therefore, they are limiting their own efforts and employment needs in terms of finding qualified candidates, and just "swimming in a part of the pool”. The idea here is to be a full-fledged talent management expert rather than a sourcing specialist as it can limit the scope of the search severely. Searching specific markets extensively often yield more satisfactory results, particularly now that interdisciplinary job roles are more prevalent than ever before.
The Best Solutions to Overcome Talent Acquisition Challenges
Talent pipelines are groups of candidates that are already engaged who can fill future positions in the organization. This can help to reduce time to hire and recruiting costs, because they are already have qualified, pre-screened candidates in line when a role opens. To help enhance the talent acquisition process and candidate quality, let’s have a look at the proven solutions that can help to overcome the common talent acquisition challenges.
- Showcase and focus on 5 Cs
The talent acquisition team must identify the right recruitment strategies to attract and hire top talent. It is very crucial to advertise as well as to enhance the 5 Cs:
Credibility Showcase the reputation and power of the brand, and the good character it has in the market
Compensation Give details about the perks like competitive salary, allowances and various others
Culture Highlight the mission, vision and objective of the organization
Commitment Share details about the organization’s long-term plans, key strategies, mergers and more
Challenge Share details about the organization’s long-term plans, key strategies, mergers and more
- Choose various forms of engagement.
Always makes sure to communicate with the standard industry practices. A recent survey suggests that, by 2030, 75 percent of the global workforce will be millennials (those born between about 1980 and 2000). Top MNCs like Ernst & Young and Accenture have already reported that Millennials make up over two thirds of their entire employee base.
And the millennials choose text messages over calls. The same is for Gen Z they aren’t different from the millennials. As a result of this one should understand that, they must hold on to the current trends and get going with latest industrial practices. The TA team must thoughtfully know their preferred mode of communication, will reap better benefits like higher success rate.
- Utilize the possibilities with social media
It is very important to wisely tackle the efforts, time, and money which the TA team puts into. By allocating inter-resources is going to work but take help from the social media platforms to make the process of hiring smooth and beneficial. 86 percent of job hunters utilize the social media in their job seeking process for relevant jobs, apply to jobs directly, and engage with job related content.
According to a LinkedIn survey, job seekers on LinkedIn have a 71 percent higher chance of getting a job interview. It has 310 million active users per month. Enhance the efforts on social media to identify qualified candidates for a smooth experience.
Finding talent is a complex space for any business. One must develop a relationship to understand both the organization’s challenges and opportunities and must get better control over the Talent Acquisition Process to deliver the best results.