Today, talent, especially people with the most desired and in-demand skills, is scarce. Employees with high-demand skills have choices, and a company’s employment brand is easy to ascertain without even stepping into the office. At the same time, the internet has revolutionized the way people learn about companies and apply for jobs.
In many ways, acquiring and accessing talent is among a company’s most critical goals. Without critical talent and skills, companies cannot grow their businesses. Yet in today’s new environment, the old ways of recruiting, acquiring, and accessing talent are no longer effective. Companies that fail to adapt will likely be on the losing end when it comes to attracting the people they need. Executives appear to be aware of the challenge, with 58% saying they are “currently revamping” (31%) or “considering changes” (27%) to their talent sourcing and recruiting strategies.
Nonetheless, few HR and corporate leaders report that their companies are currently capable of adapting to today’s new talent acquisition realities. To be successful in this new environment, companies should constantly attract new talent and “re-recruit” the talent that is already in place. The traditional “staffing” team is being replaced by a strategic “talent acquisition” function, focusing on building an employment brand, sourcing people in new places using social media tools, creating opportunities for internal candidates, and leveraging the huge network of referral relationships within the company.
Talent acquisition is also being expanded as companies look for new ways to access and engage people, including through joint ventures, contracting, freelancers, and open source talent. These approaches are pushing the boundaries of talent acquisition to include new models of employment and new types of relationships for accessing skills and ideas.
High-performing companies build unique and powerful ways to source and access top employees. AT&T’s talent community, for example, attracts potential team members by providing a forum to talk about mobile computing and telecommunications in a fun and exciting way.
Many companies are also leveraging LinkedIn, Facebook, Twitter, Glassdoor, Google, and other social networks to build a compelling employment brand, find talent, and market their companies to passive job candidates.
They aggressively deploy referral marketing programs and send their key executives to universities and other critical sources of new talent around the world. Slightly more than six in ten executives (62 percent) participating in our global survey report that they rely on social tools for sourcing and advertising positions. Organizations also report that they are beginning to utilize analytics for recruitment and staffing.
The employee referral program, is another key recruitment strategy. Red Hat, that is aggressively looking to recruiting new talents, is applying employee referral schemes. The program has resonated with employees, and today, more than half of all new Red Hat hires come in through employee referrals.
These are some of the methods that are currently used by the corporates across the world to find the best match for the jobs.
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