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In the past three years there has been a massive influx of people entering the job market. An online ad generates hundreds, if not thousands, of responses. According to the 2014 Brandon Hall Talent Acquisition Benchmarking Survey, nearly 80% of survey respondents rated their overall talent acquisition efforts as less than highly effective. So why are companies finding it so hard to find skilled people?
For one, the sheer volume of “mismatched” talent makes it more difficult to review potential candidates. As the economy sheds more jobs in the lower skilled areas, more average and below average candidates apply for positions and the percentage of qualified applicants goes down. The aging workforce has also impacted the talent pool. Baby boomers may have delayed their retirement but are now leaving the workforce. As they depart, so do their knowledge and skills. The result will be more competition in the market for the perfect fit candidates.
High-quality candidates expect a high quality hiring process
Unfortunately for many organizations, there is a major disconnect between hiring goals and the processes relied upon to get there. With competition for talent at an all-time high, reactionary recruiting techniques are no longer effective means for meeting long-term talent needs.
It is time to be realistic and take stock of what is available in the talent pool – Externally AND Internally
Do you know what your current and future talent needs are? Do you know what skills each open position requires? Have you analyzed the core competencies that a candidate must have to be successful in your organization? Can you put “needs” above “wants”? Do you know who within your organization has the skills necessary to fill a future role? Is your succession planning process working? Does your employer brand appeal to both external and internal candidates, and is it working to attract talent? Is your talent retention rate what you would like it to be?
At this year’s Strategic Sourcing Summit we will discuss how organizations can repair the disconnect between their talent acquisition goals and processes, thereby achieving them, including:
• Branding with Social Media
• Tying the EVP to the Brand
• Educating and Creating Brand Ambassadors
• Representing Culture for Talent Attraction
• Branding in a Time of Change
• Meaningful Metrics for TA
• Social Media ROI
• Forecasting Future Talent Needs
• Calculating the ROI of your Brand
• Measuring Recruiter Performance
Source and Retain
• Sourcing Internally and Identifying HiPos
• Succession Planning and Internal Mobility
• Attracting Skilled Talent
• Sourcing with Social Media
• Creating a Stellar Candidate Experience