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Talent acquisition leaders are facing complex challenges in the ever-evolving market. But finding the right balance of recruitment and retention strategies can provide a positive path forward and ensure companies meet talent goals.
To shed light on business leaders’ most pressing concerns, and how to create an effective plan for success, Lakshmi Murlidharan, Director – Client Solutions APAC, spoke with Nick Jonsson for the EGN Leadership Conversation Series.
Here are highlights from the conversation on the key TA aspects to adjust for a glowing candidate and employee experience:
Diversity, equity & inclusion (DEI)
Building a sustainable workforce requires going beyond the typical hiring practices – and doesn’t stop with recruitment efforts. Casting a wider net in your talent search yields a broader range of backgrounds and experiences to help your company thrive. But this is just the first step.
Moving forward, business leaders will need to ensure all levels of employees understand the true meaning of DEI through education and training. Integrating DEI principles into company culture takes focused effort, especially for the all-important inclusion factor:
“Visibility, vision, and value are what is essential to inclusion. Inclusion needs to be built into the entire employee journey – not compartmentalized. Employers need to change the shape of the business, invest in apprenticeships,” said Lakshmi.
The future of remote working prompts lively discussion among businesses and employees alike. One thing is certain: employees strongly support this flexibility. But only 28% of businesses believe the current working model aligns with this employee preference – and talent acquisition leaders are well-positioned to reap the advantages.
“We see there are huge immediate gains to be harnessed by remote working for TA,” said Lakshmi. Currently, 44% of companies use hybrid or remote working models to attract and retain talent, while 25% use hybrid only to gain access to a wider pool of talent.
With such demand for flexible options, business leaders should consider revising their remote working policies to retain employees. Enhancing the translation of skills-based workforce planning, training remote workers effectively, and managing the changing dynamics of retention will largely contribute to impactful results.
The struggle for the right talent goes beyond the tight market, with many companies struggling to fill skills gaps. And recruiters are split on the main reason for this challenge: many say the problem lies with sourcing, while others say it’s attracting the right candidate or finding the right quality of hire.
“The C-suite needs to realize the benefits of having a skills-based workforce. This will bring and create sustainability, and future-proof the workforce to meet their organization’s goals,” according to Lakshmi.
To reap the advantages of a skills-based workforce, more training and understanding will be needed, especially from leaders. Realizing the benefits and taking actionable steps to implement – much like the DEI initiatives – will set businesses on the path of finding the candidates they need for the right roles at the right time.
Connecting with candidates and winning the best talent may come down to your HR technology. Applicants want efficiency and connection in their job search, which automated solutions can deliver. And the effort to leverage technology pays off – successful implementation leads to higher candidate satisfaction scores, rising even higher for Gen Z.
“Digital onboarding platforms help enrich onboarding and reduce attrition. [They help] cement employer brand at every touchpoint from offer to the end of the first 90 days of employment – reducing attrition and the likelihood of candidates getting a counteroffer from somebody else. Technology also delivers much stronger loyalty and engagement,” said Lakshmi.
With the right approach, technology can aid the evolution of your brand and your communication with talent. After all, a candidate who understands your culture and business is a candidate who’s one step closer to choosing your company over the competition.
Navigating the dynamic market and its accompanying challenges isn’t easy. But focusing on these four areas and creating a sustainable balance between them will help create a shining strategy for the future and attract the talent you need.