Business success is highly dependent on having the right people in the right place and at the right time. However, according to a recent report by Manpower Group, 77% of employers struggle to find the skilled workers they need to thrive in 2023. This report also revealed that the global talent shortage had hit a 17-year high. With these statistics, acquiring your desired talent can be a challenge. Alarming, right?
Technological advancements, the sudden rise of remote work, a stronger focus on diversity and inclusion, and economic uncertainty are just some factors that make talent acquisition more challenging. But don’t lose hope just yet. In this summary of our report Overcoming Talent Scarcity in 2023, we will tackle 5 powerful acquisition strategies to help you win your industry’s best and brightest talent this year and beyond.
1. Revolutionize Your Workflow: Artificial Intelligence (AI) and Automation Unleashed
AI and automation are continuously transforming talent acquisition. This technology makes the recruitment process more efficient, effective, and data-driven. As a result, companies ensure that only the most qualified candidates move forward, regardless of age, background, or gender. But before adopting any of these tools, we suggest understanding your requirements and objectives more deeply. Perform thorough research to compare various options. These steps will allow you to find the best tech solution for your talent acquisition needs.
2. Beyond Traditional Approaches: Diversifying Your Sourcing Methods
Who wouldn’t want access to a wider talent pool? To achieve this, you need to move beyond the traditional talent acquisition tactics. This means diversifying your approaches, which can include taking advantage of social media, encouraging referrals, entering the world of online communities, and tailoring your Employer Value Proposition (EVP). Not only will these steps help you reach talent with diverse skills, experiences, and cultural perspectives but they will also make your organization more appealing to a broader talent mix.
3. The Power of Attraction: Crafting a Compelling Employer Brand
Did you know that companies with a robust employer brand receive 50% more high-quality applications? You can achieve this too. The key is crafting a persuasive employer brand that top talent can’t resist. Showcase why your company is unique and a great place to work. One effective way to do this is by highlighting your values, culture, and commitment to diversity. You can also mention the career development opportunities you offer or share real-life stories of your employees. These tactics increase your chances of having the best candidates lined up to join your team, eager to contribute to your success.
Hear Karin Bergström, VP People & Culture, Jobylon on why it’s crucial to continuously improve and evaluate your employer brand:
“Never underestimate the influence of your employer brand. Not only will it help you attract and retain talent, but it will also make your company more attractive to customers and ensure a competitive edge in the market. It’s crucial that we challenge ourselves and make sure to maintain our employer brand as well as spend resources on continuously developing and enhancing it”
4. Internal Mobility: Maximizing Talent Acquisition, Retention, and Growth Through Upskilling and Reskilling
Skills gaps and attrition are the two most common issues in the talent acquisition process of today. To address these, investing in your people is key. Internal mobility can be an effective solution, which entails implementing upskilling and reskilling programs to enable current employees to learn new abilities and refine existing ones. In turn, you can retain your workforce and make them future-ready while making yourself more attractive to more high-potential talent.
René Janssen, CEO & Founder, Lepaya unveils why upskilling and reskilling are the linchpin of talent acquisition in today's skill gap crisis:
“In the fiercely competitive job market where talent is especially scarce and highly contested, companies that invest in hiring, upskilling, and nurturing talent will continue as industry leaders. Today’s workforce is increasingly looking for companies where they can improve as professionals.
These are companies with an established learning culture, vast L&D curriculums, regular feedback cycles, and tools that support employee development. By investing in skills and expanding career development opportunities, businesses can build engaged, loyal and performance-focused talent that supports organizational growth.”
5. Transform Your Workplace: Elevate DEI Initiatives for Greater Impact
The importance of Diversity, Equity, and Inclusion (DEI) in the workplace is growing every day. So, elevating your DEI efforts is crucial. To do this, make sure to track and measure the effectiveness of your initiatives. This will allow you to identify improvement areas and make adjustments where needed. As a result, you can create a more inclusive workplace that appeals to a wider range of top talent.
So, there you have it! The best acquisition strategies all wrapped up in a neat little package. Capitalize on these and you'll be well on your way to winning the top talent game in 2023 and the years to come.
To access the in-depth report, make sure to download it below. Now, go forth and conquer the recruitment world!
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