3 Critical Areas Helping Fuel the Transformative State of Talent Acquisition

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3 Critical Areas Helping Fuel the Transformative State of Talent Acquisition

For me, the month of April was great as it represented an opportunity to meet with hundreds of Talent Acquisition professionals – both while at ERE in Las Vegas and SHRM in Orlando.  So it’s pretty safe to say that April was an eventful month all around given the conversations, the great networking and oh ya, those destinations (also because of the bug caught while traveling, ugh!).  Now that we are well into the month of May and I have had an opportunity to think about all which has been taking place, wanted to share some insights and debrief.  With the US Economy having now experienced 74 consecutive months of job growth, it emphasizes full-time hiring is not weak (even despite the slight decline in job growth in April) but what does this mean for Recruiting Professionals in general? Well happen to come across this blog post from the Recruitment ADvisor last week and thought some key points were highlighted – but wait there’s more…

 

april jobs report

With prolonged job growth and reduced Unemployment and Underemployment Rates one might think the result would be a greater number of job ads noticed – when you check out at your Wanted Analytic or Supply/Demand data, right?   Nope… to the contrary data shows online job ads have been trending downward since December of last year.  In further looking at the latest job/data trends, the April Jobs report and comparing those to the trends noticed to the total number of online Job Ads posted, you might start to think the job market is stuck in some form of an alternate reality – but, is it?

Unemployment and Underemployment Key Take-a-away’s

  • The Unemployment Rate in April of 2016 was at 5.0%, the lowest by comparison since 2007 and held the slight increase of only .1% from February of 2016.
  • The Underemployment Rate in March of 2016 was at 14.5%, an improvement from 15.5% at the same time last year and 14.7% in February of 2016.

 

Jason Stewart

Jason Stewart, Director of Enterprise Sales

The short answer is no however change is constant and depending on where you sit, you might just think you are in the Twilight Zone. (Insert music here.) The reality is that the industry as a whole is seemingly in a trans-formative state and by this the recruitment world is catching up and evolving, from how Talent Acquisition Professionals source, recruit and manage talent to how candidates digest, process and relate to brands and the messaging placed before them during their career journey.  There is no doubt more organizations today are leveraging social recruiting, employee referrals, succession planning and data/analytic’s in a big push to be smarter with their recruitment budgets vs. simply posting jobs.  So what else do you think gives?

Wait for it… Wait for it… It’s a bird, it’s a plane, no it’s a Transformation Trifecta! These 3 critical areas are forcing us to be better problem solvers and recruiters to be better talent acquisition leaders – all helping fuel the Transformative State of Talent Acquisition.

The Skills Gap – Represents both a challenge and an opportunity today…

  • Challenge for many employers and for certain industries such as Technology/Engineering, where innovation is key and employers are looking outside the US to fill talent gaps. It has been stated that nearly 20% of companies will hire workers with H-1B visas, which enables them to temporarily employ foreign-born workers for specialized roles. This was made evident at ERE during conversations with multiple attendees who are really tapping virtually every resource to find the right talent for critical projects.
  • Opportunity for companies who are proactive and focused on workforce planning – More companies plan to hire more high school students as interns and employers are increasingly looking at educational data trends as part of their collegiate recruitment efforts. As data goes more mainstream with regards to Talent Acquisition, migration patterns may more so be incorporated into the candidate sourcing strategy.

 

Rising Wages – One cannot check out a news program these days without hearing an in-depth debate surrounding the importance of income equality – and this is a good conversation to debate.

  • Given the competitiveness that exists today, there is no doubt, wages are rising to keep up with increasing competition for talent and may also help boost our economy, depending on your point of view.  In an effort to retain and attract top performers, studies show 83% of employers plan to increase compensation packages for existing employees, while 2/3 will offer higher starting salaries for new employees, up almost double from a year or so ago.
  • With the Unemployment Rate still hovering at 5.0% according to the April Jobs Report released, continuous conversation highlighting the income inequality that exists is slowly shifting the market in that candidates are now in a unique position with certain employers – like with real estate, it is a buyer’s market – and in this case the buyer is the candidate and in many cases the candidate has the upper hand if the company is truly focused on quality of hire.

 

Employment Brand and Authenticity – Companies are making solid efforts to expand their message, highlight their culture and focus on Diversity within their organization, both externally and internally.

  • Refining employment branding and messaging is ongoing in order to effectively target specific demographics, minority groups and/or other desired talent segments such as millennials, the LGBT community to messaging you are a company committed to our Veterans.
  • The push for greater diversity in leadership – Employer chatter highlights plans to hire or promote more women as well as millennials, particularly those under the age of 30 into management roles.

 

Top Employer Trends Noticed:

  • Hiring Manager Satisfaction – there is a huge disconnect between Recruiters and Hiring Managers and it exists between each other and also within their own group according to the results of an ERE Survey shared in Las Vegas last month.  Hiring Managers have limited faith in their HR colleagues and Recruiting Managers have a slightly skewed perception of their teams as it relates to Hiring Manager Satisfaction.  Things that make you go hmmm.
  • Job Matching Technology and Algorithms are becoming the new buzz words when it comes to paying for performance.  Everyone is talking about what makes their technology awesome and algorithms, like statistics, can be manipulated and controlled so be it as it may, look for Real-Time Job Matching Technology which will impact your world and give you back your time.  After all, it’s your most precious asset.
  • Programmatic Campaigning of job requisitions leverages the best of both worlds – consumer and recruitment marketing.  Tie this to a distribution network, like the TheJobNetwork for example, which leverages the internet as the job board and interweaves a reciprocal approach in how it sends out matching alerts to both active and passive job seekers.

 

So what does it all mean to YOU?

Regardless of how you drill it all down, employer problems have not changed. Recruiters are focused on Quality of Candidates and Reducing Time to Fillof job openings.  RealMatch’s AppMatch no-risk pay for performance solution leverages real-time matching technology and programmatic campaigning algorithms which have dramatically helped employers expedite reaching quality talent, reduce time to fill which will ultimately result in better Hiring Manager Satisfaction!

 

Still wanting to learn more?  Click HERE to download RealMatch’s Recruiting Trends ebook and learn how to hire faster, smarter and for less!

 

Jason Stewart

About Jason: As a sales leader at RealMatch, a recruitment advertising technology firm which powers the career channel for over 1,000 partners, my primary focus is in creating performance-based employer solutions which help solve Quality of Hire and Time to Fill challenges for 65,000+ organizations who have benefited from our automated distribution, campaign management and Real-Time Job Matching Technology™ platform. As a trusted advisor within the human capital industry, my commitment to clients, partners and colleagues is best demonstrated through the measurable ROI and impact of those strategies implemented which have helped; drive revenue, attract top talent, engage target audiences, strengthen brand image, maximize time efficiency, develop people, enhance process, improve performance and the overall customer experience.

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Share on Facebook20Tweet about this on TwitterShare on LinkedIn6Share on Google+0Email this to someone

About Jason Stewart

About Jason: As a sales leader at RealMatch, a recruitment advertising technology firm which powers the career channel for over 1,000 partners, my primary focus is in creating performance-based employer solutions which help solve Quality of Hire and Time to Fill challenges for 65,000+ organizations who have benefited from our automated distribution, campaign management and Real-Time Job Matching Technology™ platform. As a trusted advisor within the human capital industry, my commitment to clients, partners and colleagues is best demonstrated through the measurable ROI and impact of those strategies implemented which have helped; drive revenue, attract top talent, engage target audiences, strengthen brand image, maximize time efficiency, develop people, enhance process, improve performance and the overall customer experience.

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