Talent Acquisition Strategies to Aid Your Company’s Growth
Businesses often find it difficult to find the right talent for their organization. As per a survey, nearly 7 out of 10 businesses face talent shortages and difficulties in hiring. This hampers their productivity and business growth.
To overcome this hurdle, businesses can implement talent acquisition strategies. The strategies aim to attract and hire high-talent candidates to ensure that the organization has the right set of people, skill sets, and requirements.
Most people confuse talent acquisition with recruitment. But, they are not the same. Recruitment aims at fulfilling the vacant positions only. It is a one-time process.
Talent acquisition, on the other hand, aims to find specialists for positions, utilize their skills to the best possible level, and develop them for future positions. It is an ongoing process.
We’ll discuss more on what talent acquisition is and why it is important. Let’s dive into some simple yet effective talent acquisition strategies that can aid your company’s growth.
Understanding Business Goals
Analyze and determine your business goals. These include your short-term and long-term goals. Tailor your talent acquisition strategies according to your goals.
For example, if your organization is planning to expand to India, your hiring department should attract candidates having regional experiences.
Similarly, if you are aiming to launch a new product, you should aim to hire talented designers, coders, and developers.
Certain roles might not even exist yet. But, you will need to consider your future talent requirements based on your goals. Investing in the right candidates early on will pay huge dividends in the long run.
Implementing a Talent Acquisition Software
Talent acquisition software helps recruiters to simplify and streamline the hiring process by automating the various procedures involved in hiring candidates. It uses advanced technologies like AI to automate the tasks involved.
A talent acquisition platform helps recruiters with candidate sourcing, selection, engagement, and onboarding. Most talent acquisition and recruitment platforms possess AI-powered features like:
- resume screening,
- interview scheduling,
- candidate assessment, and
- automated replies.
This helps organizations save time, money, and resources to find highly-talented individuals that are the best match for the company.
If you don’t have talent acquisition software at your workplace, you should get it implemented at the earliest. You will find a considerable and positive difference in your talent acquisition.
Building Your Business Brand
Employees, especially millennials and a part of Gen Z, are attracted to brands that share their thoughts and beliefs. This group will do thorough research before joining any organization. Before joining an organization, they will have a million questions like:
- What is the workplace culture?
- What are the extra perks offered?
- Will I be offered work-from-home?
- What are the employee policies?
- Will I be able to learn and improve my skills?
Moreover, they are also not shy about quitting a company if they are not happy working there. Thus, you should focus on building your business brand to attract and retain them. You can do this easily through social media and your website.
For example, you can post images and videos of the employees at the workplace. You can also broadcast fun activities held at the workplace. Similarly, you can also share your views on social causes like climate change, acceptance of LGBTQ+ employees, transparency, equal pay policies, and others.
In short, building a transparent and positive brand image will help you find the right and long-lasting talent for your company.
Offer Multiple Work Options
The pandemic has reshaped the way we work. Many businesses now offer complete remote, work-from-home opportunities. Some businesses have switched to a hybrid, on-site and remote, work model. Moreover, many businesses have opted for a four-day workweek, instead of five.
A large number of candidates are now preferring to work with companies that offer remote or a hybrid work model. As per a report, about seventy-four percent of professionals expect remote working to become standard. Similarly, about 97% of employees don’t want to return to the office full-time.
Businesses should take into account these trends while hiring candidates. They should offer multiple work options to potential hires. The candidates should be able to choose a working model that is best suited for them.
This will prove beneficial for the candidates and the organization as well. Employees will have a better work-life balance, save on commute time and costs, and have a flexible schedule. Businesses, on the other hand, will be able to hire talented individuals from across the globe. They can also save on office rent and other employee expenses.
The money saved can be used for improving work processes and business growth instead.
Partner With Educational Institutions
Many businesses partner with educational institutions to develop a relationship with future employees. This helps them identify and hire the best talent from an early stage. It also provides them an opportunity to train the students according to their needs. This strategy also helps with employee retention besides attracting candidates.
For example, IBM has teamed up with Florida State University. They provide access to the company’s system for teaching and research purposes. Similarly, it has also planned collaboration with Harvard and Duke University.
Thus, instead of waiting for the right candidates to come to you, you can go to the candidates and bring the right ones on board.
Providing Handsome Incentives
To succeed with talent acquisition, you can offer handsome incentives to employees in addition to their industry-par salary.
For example, you can provide yearly bonuses, stock options, paid vacations, insurance for family members, and others. Make sure you mention the perks offered in the job descriptions, the “About Us” page, and other places.
By using the right talent acquisition strategies, you will surely find the best and right talent for your company. This, in turn, increases your productivity and leads to your company’s growth.
So, if you haven’t already, start developing and implementing talent acquisition strategies at the earliest.