A Look at Five Factors That Will Dominate Strategic Talent Acquisition Over the Next 3-5 Years

Thursday, April 06, 2017

by Cindy Yarbrough, Regional Vice President, Client Services RPO

 

#1 Environmental Shifts Will Require Adjustment in the Talent Acquisition Landscape

  • Continuous shortage of skills and labor (i.e., home healthcare professionals, registered nurses, skilled manufacturing, mechanics and electrician roles).
  • Diverse and demanding new workforce will continue to have different generational motivators.
  • Gig economy growth, projecting that by the year 2020, 40 percent of American workers will be independent contractors.

 

#2 Competition for Top Talent Will Intensify

  • Intense recruiting competition will be returning, especially for top performers and technical talent.
  • Existing resources and tools will be stretched to the limit.
  • Higher rejection rates and more counter-offers will be prevalent.
  • Innovative recruiting practices will help strategic companies with a competitive talent advantage.

 

#3 Employee Referral Programs Driven by Metrics Will Become a Dominant Hiring Source

  • Top firms will experience a social media referral target at or beyond 50 percent of all hires.
  • Talent ecosystems will be built around a recruiting culture which makes every employee a 24/7 talent scout, and the discoveries will be channeled through a data-driven program.
  • Clearer, well-designed, employer-referral programs will produce high-performers and increase employee retention rates.

 

#4 Predictive Metrics and the Use of Big Data Will Move From Interesting to Essential

  • This focus will be on real-time metrics that let managers know what’s happening today, and predictive metrics, that alert everyone about upcoming recruiting problems and opportunities, so that they can act appropriately with time to spare.
  • Talent acquisition professionals need to reinforce what the data highlights and link the content to the stated goals and objectives.

 

#5 Employer Branding Will Be Paramount in Building a Primary, Long-term Recruiting Strategy

  • Whether a candidate perceives an organization as “a great place to work” will be front and center as they make decisions and entertain or negotiate offers.
  • Though a business can do much to define its employer brand, certain inputs (i.e., Glassdoor reviews) shape the brand (positively and negatively) outside of an employer’s control.
  • Strong employer brands catch the attention of a passive candidate pool.
  • Businesses with strong employer brands saw revenues increase by 20 percent, while firms with weak brands grew only 8 percent.