What’s the future of talent acquisition?

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Since the 1980s, the talent acquisition landscape has been in a constant state of evolution. We are now in the third era, the digital era, of recruitment; one defined by the need to fill dire skill gaps and a shift in the way people look for jobs.

Digital disruption is not only changing the way we order taxis or shop but also how we communicate with each other. This change is influencing consumer behavior, including the way experienced professionals manage their careers and change jobs.

These changes are even affecting our ability to recruit highly skilled professionals and are challenging outdated recruitment strategies, which are becoming very much less effective.

What then, is the future of talent acquisition? Keep reading this post to find out.

Attracting and retaining top talent is the biggest global challenge

Did you know that in a poll of more than 800 CEOs, the biggest challenge in talent acquisition they expected to face in 2019 was attracting and retaining top talent?

The U.S is going through a time of record-low unemployment and the highest rate of attrition since 2001. Surprisingly, there are ample job opportunities but a lack of the right talent and skills to fill these gaps.

This, however, is not an issue exclusive to the U.S. – nearly 55% of 200 growth companies surveyed, around the world, have experienced challenges in acquiring and retaining talent, ahead of other factors such as regulation and technology.

Companies will have to stand out and actively seek out talent

Given the presence of easily accessible digital platforms and tools for just about every societal and individual need, there has been a clear shift in mindset when it comes to job hunting.

This means that reactivity has replaced proactivity, especially when compared to the last two eras of recruitment, and as a result, fewer people are actively looking for jobs.

Talent is not looking for you anymore – you, the employer, have to seek it out if you want to find people well-suited for the jobs that you have on offer.

There’s a proposition that this might be because people have become desensitized in the face of constant job notifications through social media platforms.

As a result of this constant stream of notifications, it’s likely that your target audience is actively ignoring you. Yikes.

As the power shifts from employer to recruit, candidates are beginning to have a greater choice when it comes to what they want to do. Given that every company has the ability to market their vacancies to the same talent pool, it has already become harder for employers to stand out in the eyes of job candidates compared to any time in the past.

Recruiters must be familiar with modern recruitment techniques

With this power shift, it is now essential to ensure that your organization is familiar with modern recruitment tools and strategies. Otherwise, there won’t be any place for you in this new digital world.

One such trend is that it’s not necessary to fill your vacancies with people who only have the right qualifications and work experience to meet the demands of each job position.

Instead, you should consider hiring people with the right personality traits and attitudes and those who display a willingness to learn and adapt to the needs of your company.

Update and re-evaluate the talent acquisition techniques in your recruitment process, as old techniques are simply becoming redundant. What’s more, do this as quickly as possible to recruit the new wave of workers who are equipped with the skills of the future.

Re-think recruitment for the future of talent acquisition

There needs to be a strategic approach to managing talent supply to compete in today’s ultra-competitive job market. Understanding how the landscape of talent acquisition is changing will help you drive the business outcomes you want.

Improve your talent acquisition strategies and step into the digital era of recruitment. Without a futuristic vision and the right recruitment methods, your company risks falling short – considerably so.

Author: Raghu Misra