The competition in the market is cut-throat and winning the top talent for your organization is increasingly becoming difficult. Also, the market demands and needs are continuously changing and talented candidates have become the greatest assets a company can have. The era where the recruiters used to post job descriptions hoping that good candidates would gravitate towards them to fill the positions automatically is long gone. Today, candidates have multiple offers in hand from which they can conveniently select the organization that they want to work for. This has brought a significant change in the talent acquisition space where recruiters, now, need to actively pursue candidates to hire the best talents for organizations. Also, the trends and methods of talent acquisition are changing and companies are incorporating some really advanced technologies to perfect their processes, making things even more difficult for companies stuck with outdated practices.
Let’s have a look at the major talent acquisition challenges in 2019 that companies are facing:
- Balancing Speed and Quality in Hiring
With increasing competition all around, recruiters want to fill a position as soon as possible, that too with the best talent. This puts them in a challenging situation where they have to maintain the speed of hiring, without compromising on the quality. To achieve this, an organization requires an excellent combination of recruitment skills, along with cutting edge technology. 56% of recruiters say that lengthy hiring procedures obstruct them from making good hires.
- Attracting Talented Candidates
Today candidates are approached by multiple recruiters and attracting the best ones has become a really difficult task. After numerous rounds of interviews, when you finally decide to extend the offer to a candidate, they might have already joined some other organization. Also, analyzing multiple candidatures is a time consuming task which sometimes make companies lose out on good candidates. 76% of hiring managers believe that attracting top talents is the biggest challenge they face.
- Data Analysis
Today the world is data driven and there is ample amount of data available to be analyzed and inferred. For this, using the right technology is imperative. Recruiters need to collect and evaluate data effectively to make better recruitment decisions and many companies are still lacking this ability. Research suggests that only 7% of HR professionals who have data analytics capability are optimizing their techniques.
- Inefficient Procedures
A number of recruiters spend a lot of time working on unnecessary administrative tasks. Tasks like reviewing and shortlisting resumes should ideally take hours, not days. Many recruiters follow age-old inefficient practices of talent acquisition, which delay the final selection. To overcome this, recruiters are increasingly using applicant tracking systems to fast-track their procedures and hire the right candidate quickly. 52% of hiring managers opine that the most difficult task in recruitment is reviewing a large pool of applicants and shortlisting candidates.
- Retaining Millennials
With baby boomers retiring, millennials occupy a number of important positions in the work sphere. Millennials have a distinct set of traits — they prefer open communication and constructive feedbacks and are known as job hoppers. This makes retaining millennials in a position for a longer period a pretty tough job and recruiters need to look for candidates frequently to fill the positions. 42% of millennials say that they expect to change jobs every 1-3 years whereas 76% of them opine that at some point they are likely to change careers and not just jobs.
- Candidate Experience
Candidate experience has emerged to be of paramount importance in the field of talent acquisition. Making a bad impression on candidates can have a negative impact on the company’s reputation and vice versa. Thus, it’s important to provide candidates with a good experience during the recruitment process, even to those who are being rejected. Providing a good candidate experience can have a positive impact on your brand, which in turn attracts top talents. 80% of job seekers are of the opinion that they wouldn’t re-apply to a company that did not notify them about their application status.
- Understanding-Gap Between Recruiters and Hiring Managers
In a large number of companies there exists a lack of understanding and communication between recruiters and hiring managers which causes many issues in the recruitment process. This gap hampers the ability of a company to identify the required skills sets in the prospective candidates or find the right channels for sourcing talents.
Hiring the right candidate for the right job has never been a cakewalk but now, with increasing competition, the task has become even tougher. Using the right technology and skills can help you with the job but you also need to keep up which the changing scenarios and trends to make the best hiring decisions.