The most talked about event of this week is the mix-up over the Oscar for Best Picture when La La Land momentarily eclipsed Moonlight. Could your talent acquisition strategy be at risk of a similar La La Land moment? Here are the signs it might be:-
You don’t move with the times: With the growing influence of the gig economy, employee loyalty is no longer a given. A recent Glassdoor survey featured in the Financial Times highlighted the importance of an employer’s values aligning with the employee’s own. If your recruitment process is still based on the same strategies you relied on five years ago, you’re at risk of a La La Land moment.
You ignore your existing talent : Career development opportunities were ranked highly in Glassdoor’s survey but the temptation for HR is to look outside their business to fill existing skills gaps. Promoting employees sends out an encouraging message, boosting engagement and retention levels. This comes with a caveat, however. A recent article in Harvard Business Review suggests that more than 40% of employees on leadership development programmes might not belong there. Getting the balance right is impossible without technology.
You don’t communicate : The Oscars mix-up reveals the risks of poor communication in hiring. Sharing information during the hiring process is simplified with recruitment software. To prevent irretrievable errors and the rush to attribute blame, our hiring manager portal ensures that HR leaders are given full and final authority over job posts and candidate selection.
You rely on the interview for your hiring decisions : Data driven recruitment is a given to ensure a successful hire, yet 72% of hiring decisions are based on the interview alone. That needs to change to create an effective talent acquisition strategy. Algorithms have been proven to make better hiring decisions than HR and should be used to support or question the decisions made following the interview.
Your new hires don’t stay : Your recruitment data will inform you of the success of your recent hires. If your new employees are walking out within the first few months, there’s a problem in your candidate selection. Ineffective recruitment processes can result in losses of up of £15,000 according to new research. Ignoring recruitment trends and reference checks are signs that your talent acquisition is heading towards La La Land. As supermarket chain Morrison’s discovered last year, the cost of a bad hire extends beyond the impact on your other employees. Recruitment software automates the key elements of your hiring process to allow HR to focus on the issues that matter in candidate selection.
You still rely on manual recruitment processes : If technology isn’t supporting your hiring process, now’s the time to change. With the prospect of an ‘unprecedented labour shortage’ facing the UK, employers are turning to automation and AI to fill the skills gaps in their businesses (an automated system may have ensured the right envelope was handed to Warren Beatty). Your people are your best asset. Your business deserves the best possible talent acquisition strategy. HR technology can help you to achieve that.
Don’t leave your talent acquisition to linger in La La Land, take action now. Invest in world class recruitment software that helps you to hire better people faster. Talk to Advorto today.
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