Less than one in five UK CEOs are happy with their organisation’s talent management strategy, according to a new report from Corporate Research Forum (CRF) entitled Rethinking Talent Management. For UK businesses to effectively prepare for a potential change to the UK’s talent pool this has to change.
Part of the problem lies in the fact that one third of UK HR professionals and line managers wouldn’t recommend their company as a place to work, according to additional research from Cornerstone OnDemand. Furthermore, only 37% consider the organisation they work for to be an ‘attractive employer’. The following areas must be considered by HR as it plans new strategies in response to the changing jobs market.
Reconsider your hiring freeze
A quarter of businesses indicated their intention to put a hiring freeze in place following the Brexit vote but putting a halt on recruitment without planning ahead has a negative impact on your employees. Nearly half of all UK workers report feeling understaffed and under-resourced due to the added work pressure and stress following a hiring freeze. With stagnant or falling productivity across a number of sectors, the timing may not be right.
As an alternative, tapping into the available talent in the growing gig economy enables HR to make an effective transition through an unpredictable jobs market. It's a talent source which employers are beginning to recognise. Global recruitment company PageGroup this week reported a rise in temporary jobs, accompanied by a fall in permanent placements. A growing number of freelance workers have more skills and experience than permanent employees and 70% have over 10 years of experience in their field.
Incorporating contingent workers into your business requires a change to talent acquisition strategies but CRF’s report suggests that over half of businesses aren’t adjusting their processes to meet the changes in today’s workforce. For example, flexible working is frequently ranked as the number one perk for job seekers but two years after its introduction it is still not widely adopted by UK businesses. To effectively recruit HR must take steps to understand the career aspirations of all of its prospective employees.
Encourage more job applicants by promoting your brand
A positive culture and employer brand secures a vital competitive edge in talent acquisition. LinkedIn’s 2016 Global Talent Trends found that a lack of available information about an employer deters candidates from applying to advertised jobs. A third of jobseekers also review the professional profiles of a company’s employees before making a decision to apply to a vacancy too.
For authenticity, your hiring processes should be aligned with your brand message. Away from its recent acquisition of LinkedIn, Microsoft’s recruitment team recently made the headlines for the wrong reasons with what was described as a ‘cringeworthy e-mail’ to potential new recruits.
To achieve a positive, unified brand message, company leadership and HR must be in agreement on business goals. CRF’s report found that the majority of CEOs are inclined to leave responsibility for talent management to HR. This strategy will work only if HR has the full support of company leadership. The high levels of unhappy HR managers suggest otherwise in too many cases.
Incorporate technology to predict future talent requirements
The CRF survey also found that only a fifth (17%) of UK employers are happy with their ability to predict future talent requirements. Technology enables HR to track and analyse hiring trends, predict future skills and evaluate your quality of hire. An effective careers site and a prompt response to applications and enquiries was also ranked important by prospective candidates in LinkedIn’s survey. Sophisticated recruitment software deals with both aspects by automating personalised responses and providing a fully branded, mobile responsive website.
As one in five new hires are actively looking for their next job, technology must be integral to your future talent management strategy. The CRF survey found that technology plays a part in flexible working, communications and in creating a happier workforce, helping HR to create effective talent management processes to meet the demands of every jobs market.
In an unpredictable jobs market, your business needs technology it can rely on. Advorto's recruitment software is used by some of the world's leading organisations to hire better people faster. Contact us today to find out more.
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