By: TSP Blog | @TSProckstars
In the simplest terms, talent acquisition is a hiring strategy. Each company determines what this process entails; however, it generally includes finding, attracting and onboarding the right candidates for a business’s needs. Talent acquisition goes beyond filling an open position — it requires thinking about the company’s long-term goals and serves as a step to meeting them.
Talent acquisition is one of the keys to the success of any business. But talent acquisition isn’t easy. In fact, 80% of CEOs are concerned that they won’t find candidates with the skills that their business needs. Amidst the COVID-19 pandemic, talent acquisition specialists who are able to adapt quickly to the changes in the recruitment environment will best serve their companies and candidates.
Attracting top talent requires honesty throughout the process. The reasoning behind the need for transparency in talent acquisition is simple — it speeds up the process. Transparency allows the talent to determine if they’re the right fit for the position, which helps to refine the pool of candidates. 45% of job seekers want insights around benefits and perks, flexibility and salary ranges for open job roles before even submitting an application.
Setting and managing candidate expectations from the beginning can look like sharing the salary range, sticking to timelines created, clearly communicating and providing feedback after each interview, even if it’s negative. As much of the workforce has been let go or furloughed due to the pandemic, being clear about the hiring process matters more than ever.
A copious amount of time and effort goes into finding, hiring and training a new employee. Employee turnover costs companies each year, which is why the hiring process has not only become more competitive but also more in-depth.
The HR or talent acquisition department’s main focus is to draw in and secure candidates for their organization. However, they’re often not involved in the career path of the talent once he or she is hired. Highlighting the potential career path can aid in employee retention. Level-setting expectations and giving the talent milestones to look forward to can turn them into brand advocates for the company once hired.
ANTICIPATE A NEW GENERATION OF TALENT
In the past, corporations have utilized an Applicant Tracking System (ATS). However, ATS doesn’t anticipate the full employee life cycle. Additional applicant tracking systems like LinkedIn, Indeed and ZipRecruiter are a hindrance to the process. These systems require the talent acquisition specialist and the talent to continually check and update sites, which adds unnecessary steps to the already lengthy employment process.
Create a dedicated talent acquisition system that brings recruiting, tracking and employee analytics into a streamlined process. In order to tap into more organic talent sourcing, talent acquisition professionals are adapting to reach talent who prefer engaging on social media. This isn’t shocking as 2020 talent pools have extended into Gen Z and each new generation of talent requires an overhaul of the previous system.
Interviewing in 2020 may include Facebook Live, WhatsApp, LinkedIn InMail, Skype, live streaming via FaceTime, Instagram, YouTube and even text messaging. A recent survey found that 48% of U.S. workers surveyed said that they had received a text message from a potential employer. The pandemic has led to more candidates working from home, which means that talent acquisition specialists have to adapt. Virtual recruitment can help keep the hiring process moving while keeping recruiters and candidates safe.
FOCUS ON DIVERSITY AND INCLUSION
In recent years, there has been an increase in employee-focused diversity initiatives. Hiring for diversity and inclusion is up 30% year-over-year. 64% of workers surveyed said that their companies are investing more in programs that involve diversity than in previous years. The emphasis on diversity doesn’t and shouldn’t mean a focus on diversity quotas. Instead, seeking out and hiring talent from various backgrounds should be the focus of talent acquisition professionals. Diversity and inclusion will only benefit the company in the long-term.
To help combat potential bias in the hiring process, some companies have created dedicated diversity and inclusion positions within their companies. The availability of diversity and inclusion jobs has increased by 30% year-over-year and this trend is likely to continue through 2020. Working to hire minorities into the workforce isn’t enough to make your company diverse. Embedding inclusion deep into the company culture can help companies establish themselves as leaders in this area.
DEVELOP YOUR BRAND
To attract the right talent, a company must be attractive. The majority of potential candidates seek new employers through an online search. With information available at the click of a button, candidates can virtually see company culture through LinkedIn, Facebook, Instagram and more. The messages and photos shared on the company’s social pages will be judged by candidates. The social media accounts, as well as the official company website, should speak to the company values, culture and future goals.
Culture-driven companies offer more than enticing perks. Positive work culture encourages employees to act like family. This kind of culture doesn’t come easily and required companies to establish leaders who model company values every day. Today, company culture might include supporting employees and showing appreciation for those continuing to meet deadlines during a worldwide pandemic.
At the beginning of 2020, many experts in the talent acquisition industry forecasted the continuance of a competitive job market due to the low rate of unemployment in the United States. The unemployment caused by the COVID-19 pandemic is substantial and makes it difficult to predict the ramifications it will have on the United States’ talent acquisition sector. Companies need a solid system in place that can easily adapt to the ever-changing job market.