One area expected to grow exponentially in coming years - and to also make a huge impact on hiring and retaining talent - is predictive modelling based on people - or talent analytics. At RecruitWest we are already developing such modelling to help improve our job search procedures and to target future talent.
HOW DOES IT WORK?
Talent analytics works by using data already available on future talent or existing staff to work out exactly what makes these people successful, who will be the best leaders, and what is required to drive high-performing teams.
In today’s fast-paced business world, only those organisations able to attract and retain top talent will be in the best position to form a successful workforce with the skills required for the future. And as digitisation becomes more and more extensive, smart organisations must address their skills gap by ‘reimagining’ their workforce based on their future needs - and recognising the need for humans and machines to do more together.
A recent survey by US recruitment website Glassdoor found the battle for talent was definitely the biggest issue facing recruiters today. The survey examined more than 500 US-based HR and recruitment professionals, looking at both their current hiring strategies and any concerns they had for the future. The results were thought provoking.
Nearly half of respondents revealed they were having distinct difficulties finding suitably qualified people for positions currently open in their organisations. Another 25 per cent also said they could only see that situation getting worse over the coming years as the US economy continued to recover.
WHAT DOES THIS MEAN FOR JOB SEEKERS?
While this bodes well for talented job seekers, it does show a distinct dearth of qualified talent in the marketplace - and means competition for skilled jobs in the US remains extremely high.
A critical factor influencing the decisions of talented job seekers can be the reputation and corporate culture of an organisation. With the rise of social media, potential employers need to be aware that their company information and reviews are available online. This means that candidates who are the ‘best-of-the-best’ in their field can easily eliminate a business from their list of potential employers for reasons that organisation may not even be aware of.
WHAT DOES THIS MEAN FOR COMPANIES?
So, it is important as an organisation to ensure your perception as the ‘employer of choice’ or ‘best employer’ also corresponds with what people are thinking and saying about your company. If not, candidates are likely to see you as ‘just another employer’.
In conclusion, to attract the best candidates, employers must not only apply the correct methods to find the right person for the right job, but also keep abreast of the latest job-seeker trends. It is a hugely competitive world out there - and only the smartest and most savvy organisations will attract the best talent these days.