Time & Attendance
By Jamie Minier
Jul. 23, 2009
When it comes to talent acquisition, revising a recruiting strategy can be daunting.
With more recruiting channels than ever before in a quickly changing landscape, many HR executives are finding it difficult to keep pace. Add competing priorities that extend beyond talent acquisition and increased pressure to lower cost and improve quality and time-to-fill, organizations are finding it increasingly difficult to do on their own.
As future trends quickly become today’s best practices (or yesterday’s news), the following three areas carry the biggest pain points:
From applicant tracking systems to state-of-the-art sourcing software, recruitment technology has significantly evolved over the past 10 years, offering solutions for every part of the process. Today, recruitment customer relationship management (CRM) tools are gaining noteworthy attention, as are Web 2.0 tools that help support employment branding and communication. However, unable to afford costly mistakes, many companies are forced to think twice before making an investment.
As Recruitment 2.0 continues to evolve, social media, networking and micro-blogging are driving the recruiting transformation of the future. With traffic at the big job boards in decline, best-in-class companies are shifting their focus to direct outreach and passive recruiting initiatives. However, considering current trends like job-board aggregators, and tools such as LinkedIn and Twitter being nonexistent five years ago, it can be a challenge to determine what’s here to stay, what’s worth the investment, and what’s gone tomorrow.
To that point:
At 70 million strong, Gen Y will soon become the largest generation in the workplace. And, say many researchers, they’ll be unlike any generation that has ever come before. With predictions from the Bureau of Labor Statistics that the American workforce will drop by 8 percent between 2010 and 2020, it is vital for companies to understand and embrace Gen Y’s unique workforce attitudes and values in order to attract and retain top performers. With extreme expectations and untraditional demands, many companies currently struggle between new versus old employee expectations and management.
As talent acquisition and recruiting trends evolve, companies are left with a number of options: stay the course, build it in-house, partner with a recruitment process outsourcing provider, or some combination of the preceding.
Regardless of strategy, it’s time for companies to view talent acquisition as a vital strategic solution to overall business plans. Organizations that do not embrace the changing landscape and simply stay the course will be at a significant disadvantage.
As the talent acquisition evolution continues, enterprises committed to understanding and managing these changes will see considerable payoff to their bottom line, increase their competitive edge and further reinforce their brand as an employer of choice.
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