Cielo’s findings, which were the result of surveying more than 400 talent leaders across Europe, echoed other research by The Open University that revealed that the skills gap is costing UK businesses £2billion every year, and that 90% of companies had faced difficulties recruiting skilled labor in the past year.
Excerpt from the article:
“[Cielo] found that the biggest challenge experienced by HR and talent acquisition teams is navigating the skills shortage, closely followed by retention. However, this issue doesn’t just affect talent teams – it impacts the whole organization. If businesses cannot hire, or subsequently retain in-demand employees, how can they thrive, and survive?
People are at the heart of every organization, and with employee experience rising up the agenda, this should extend to candidates. From the interview to onboarding, it’s paramount for organisations to assess how candidate experience can form part of their business strategy. And with almost four out of ten jobseekers turning down their first job offers, it’s incumbent on HR departments and recruiters to curate an employment package that considers employees actual needs.
Research from Bersin by Deloitte found that businesses with the most mature talent acquisition strategies have higher costs per hire. But those costs encompass a range of measures which in the long term, result in a higher quality of hire. It makes business sense really, and as the adage goes – the more you reap, the more you sow.
Regardless of your budget, talent acquisition must be approached holistically to ensure that an organization doesn’t lag. Whether that’s in the race for talent, productivity or profits.”