How to thrive in the future of talent acquisition

The talent market in the post-COVID-19 era of work is unpredictable and difficult to gauge. Below are some tips on how to approach it correctly and secure top talent.

Find the Right Fit report by Hays outlined just how important talent acquisition is in today’s workforce and how to overcome the difficulties that have been posed in recent years.

According to the report, 77 per cent of business leaders worldwide understand that talent acquisition spearheads growth within an organisation. However, securing talent is easier said than done, as Hays recognises that we’re in the midst of some complex challenges.

A worthwhile approach for businesses outlined by Hays is the “omnichannel sourcing” strategy. According to Rob Moffat, global head of solutions at Hays: “A few talent pools have evolved into a complex web of talent networks, with only a small proportion of the market hosted within each channel.”

He continued: “Omnichannel sourcing is the process of bringing together all of the available channels under one umbrella strategy and ensuring they are utilised to their maximum potential.”

This involves branching out and taking advantage of other talent pools, such as temporary, contract, part-time, casual, alumni, or mature workers.

Diversifying talent pools and hiring smart, not just to plug a hole, can ensure that skilled workers are coming in and the business continues to run effectively, even in times of stress.

For this omnichannel approach to work, organisations will need to work on their branding, offboarding, and current employee wellbeing. Hays notes that 86 per cent of jobseekers research company reviews when deciding where to work, which means looking after those who come and go is crucial.

Another key approach to tackling talent shortages is breaking down barriers of locations. Workplaces that take advantage of remote working can broaden their talent pools significantly as they’re able to hire people regardless of their proximity to the office.

“Cloud workers” are popping up more and more, said Hays. These are digital freelance workers who can be sourced from anywhere. Not only do these workers bring much-needed skills to the workforce, but they’re able to create a talent network that can assist in sourcing even more candidates.

There are challenges in establishing a boundary-less workplace, however. Compensation must be considered, as there are reportedly ongoing debates over pay equity for remote-only workers.

Tax issues also create problems, as people working in different countries abide by different tax laws, creating issues for companies.

Communication must also be considered, as workers in different time zones still need to be able to speak with colleagues. These are all considerations that must be made before jumping into this talent solution.

Technology and data are other key areas that will shape the future of recruitment. The report revealed that 35 per cent of businesses claim data is a top priority in talent acquisition. However, Hays noted that this tech shouldn’t replace key elements of recruitment; it should refine them.

Ultimately, the future of talent acquisition will require some thinking outside the box. As we enter the new post-COVID-19 era of work, processes will be shaken up, and different styles of thinking will be needed to be successful.

Katherine Evans, head of assessment and development at Hays, commented: “Evolving challenges will require organisations to think differently. The skills and expertise needed tomorrow may not come from traditional sourcing channels.”