Seven talent acquisition trends you absolutely must adopt

Introduction

In the fast-paced and highly competitive global business landscape, acquiring top talent has become a crucial priority for organisations seeking to thrive and succeed.

In a world where the battle for top talent intensifies by the day, your talent acquisition strategy is not just a part of your business – it’s the backbone of its future success.

As we navigate the dynamic waves of 2023, it’s critical for senior leadership and talent acquisition teams alike to be in lockstep, embracing innovative recruitment marketing strategies and nurturing a vibrant talent community.

Why is talent acquisition important now more than ever? Because the rules of engagement have changed. Potential candidates are no longer mere applicants browsing your job description; they are valued participants in the entire candidate lifecycle, from the first social media touchpoint to their growth as internal candidates.

Successful talent acquisition strategies now hinge on a multifaceted approach, blending astute talent management with dynamic marketing campaigns and leveraging everything from job fairs to academic programs to do much more than just fill open positions.

As we surge on through 2023, your talent acquisition team must understand the prevailing trends and insights that shape the realm of talent acquisition.

Trend 1

Talent acquisition is gaining prestige – but staying on top means keeping a finger on the pulse

Talent acquisition is becoming an increasingly strategic function – and an increasingly respected one. Eighty-seven percent of senior executives are focusing more on total value creation for the business than on cost savings.

To keep talent acquisition in the spotlight, it is vital that human resources professionals keep up to date with global trends and continue to generate value by hiring for the future of the business.

As talent acquisition teams evolve, they’re increasingly focusing on not just filling job openings but also on creating a positive candidate experience.

This shift towards a more candidate-centric approach is crucial in attracting and retaining the most qualified candidates.

From writing an attractive job description, distributing it on the best social media channels and job boards – to finally being able to fill open positions – the recruiting process must focus on the qualified candidate.

In short, talent acquisition specialists are now expected to be as adept in candidate relationship management as they are in sourcing talent, making their role pivotal in shaping the company culture.

Trend 2

Budgetary restraints mean working smarter with the resources available

With inflation rising and wage increases scarce – 53% of in-house recruiters say their budgets will stay the same or even decrease this year – the industry should be focusing on emerging technology and talent retention.

Tech can expand a business’ offering and make its existing talent more agile. To retain your top talent in a competitive job market, go to bat for pay rises that match inflation and focus on talent management.

Talent acquisition strategies now must include leveraging social media and specialised job boards to attract talent efficiently. By focusing on platforms where potential candidates are most active, hiring managers can raise brand awareness and engage candidates more effectively.

This approach helps in targeting passive candidates who might not be actively searching for job openings but are open to new opportunities.

Trend 3

Consolidating functionality – the tech that plays a key role in recruitment needs slimming down and smartening up

Technology continues to revolutionise the talent acquisition landscape as recruiters increasingly leverage AI and machine learning to streamline processes and make data-driven decisions.

HR tech platforms are increasingly integrating various functionalities such as applicant tracking systems, candidate assessment tools and onboarding platforms into unified solutions.

This consolidation saves costs while simplifying the recruitment process, optimising candidate sourcing and enhancing the overall candidate experience.

The integration of talent acquisition software into the hiring process is becoming a game-changer. These platforms not only streamline the recruitment process but also provide valuable data insights, enabling talent acquisition teams to make more informed decisions.

By automating routine tasks, recruiters can focus more on strategic aspects like candidate engagement and employer brand awareness.

Trend 4

The future is now: invest in automation and AI if you hope to succeed

Sixty percent of HR and IT leaders said they had increased their investment in automation technology during 2022. The same proportion said they would look for ways to leverage automation in a recession.

According to a February 2023 survey, almost 70% of hirers are either “very hopeful” or “cautiously optimistic” about the impact of tools like ChatGPT on recruiting.

Automation and AI are not just about efficiency; they’re about enhancing the entire candidate lifecycle.

From automated email campaigns that keep job seekers engaged to AI-driven tools that help in screening resumes, these technologies are transforming how talent acquisition refers to and interacts with candidates.

This investment is crucial for developing a robust talent pipeline that aligns with business goals.

Trend 5

Your brand = EVP = ROI

Out of 700 talent acquisition professionals surveyed from both large and small firms, more than half agreed that multi-channel touchpoints (54%) and employment branding campaigns (51%) are the most effective recruitment marketing strategies.

Although only 41% of large and just 28% of smaller organisations measure the relationship between recruitment marketing and ROI, an employer ‘s brand was cited as having the third highest impact ROI.

Employer brand awareness plays a critical role in attracting highly qualified candidates. A strong brand not only helps in attracting candidates but also in retaining current employees.

Talent acquisition teams must work closely with marketing campaigns to ensure that the company’s culture and values are accurately represented, creating a positive impression that resonates with both job seekers and employees.

Investing in employer branding and recruitment marketing is essential and companies must find smarter ways of calculating ROI.

Trend 6

Use data to empower your talent acquisition strategy – not just to track operational metrics

Data is being used more than ever to drive talent recruitment – recruiting professionals rate its importance at 7.8 out of 10.

Data is especially useful in four areas:

• uncovering best sources of candidates (61%)

• tracking passive candidate outreach (58%)

• reporting on time-to-hire and cost per hire (57%)

• tracking diversity hiring (55%)

Areas lacking in recorded data include:

• new hire retention

• passthrough/conversion rates

• top-of-funnel activity

• quality of hire

• hiring manager satisfaction

Establish goals for your recruitment team and decide which data to track. Understanding what it is you want to measure will give you baseline metrics to work from and KPIs to shoot for.

Successful talent acquisition strategy hinges on understanding and utilising data effectively.

This means going beyond tracking job descriptions and interview process metrics to analysing aspects like employee referrals, candidate engagement, and the impact of HR department initiatives on the overall recruitment strategy.

Data-driven insights can significantly enhance the effectiveness of talent acquisition strategies.

Trend 7

ESG matters to employees as well as customers – trust in an employer and its values are major factors in deciding where to work

Trust is essential in any relationship – and employees ‘ and vendors ‘ relationships with companies are no different.

Candidates want to work for an organisation they feel will always act ethically – a global survey of 35,000 workers found that 77% consider an employer’s values and purpose – including sustainability, diversity and transparency – when choosing where to work.

In today’s talent pool, job candidates are increasingly evaluating potential employers based on their commitment to environmental, social, and governance (ESG) principles.

Talent acquisition teams must therefore ensure that their recruitment marketing strategy and company culture reflects the company’s commitment to these values.

This alignment not only attracts interested candidates but also helps in building long-term trust and engagement, both with employees and the global talent pool.

Investing in digital solutions is good for both ROI and productivity

Digital transformation has transformed the enterprise landscape – KPMG found that 99% of executives have seen a return on digital investments.

Nine out of 10 businesses have adopted advanced cloud systems and most expect to embrace emerging technologies such as Web3, the metaverse and quantum computing within two years.

Through the right mix of data, tech and people, companies could see as much as an 11% increase in productivity – and thus in profitability and revenue growth.

As you can see, the adoption of digital solutions in the talent acquisition process is essential for staying ahead in the competitive talent acquisition process.

From leveraging talent acquisition software to engaging with candidates through social media channels, these digital tools are pivotal in creating an efficient and effective recruiting process.

By embracing effective talent acquisition strategies, companies can not only enhance their talent acquisition, but also significantly improve their overall productivity and financial performance.

Building a strong employer brand while investing in ESG and emerging tech is vital for attracting top talent and hence in delivering value.

By keeping abreast with trends, recruiters and HR professionals can optimise their talent acquisition or quality candidates and secure the best results for their organisations’ success.

BONUS

3 Essential Tips to Elevate Your Recruitment Marketing Strategy

In a world where correctly navigating talent acquisition is increasingly vital, staying at the forefront of the latest trends is essential for competitive success.

To help you build your talent community, here are our three practical tips to effectively integrate the key talent acquisition trends we’ve highlighted:

1. Embrace Personalised Video Recruitment: Incorporate our cutting-edge video recruitment technology to add a personal dimension to your hiring process, allowing a deeper understanding of candidates beyond their resumes.

2. Optimise Onboarding with Tailored Experiences: Utilise our experience-driven onboarding platform for engaging and connecting with new hires across multiple devices, ensuring a seamless and impactful start.

3. Consolidate with a Unified Digital Recruitment Platform: Streamline your talent acquisition process with our comprehensive digital recruitment platform, combining various recruitment tools into a single, efficient system.

By adopting these strategies, you position your organisation to not only stay current but also to attract and retain top talent effectively.

Conclusion

The Future of Talent Acquisition – An Integrated, Strategic Approach

As we’ve explored the dynamic landscape of talent acquisition in 2023, it’s clear that the role of a talent acquisition team transcends beyond traditional recruitment. Today, it embodies a comprehensive approach that blends human resources savvy with innovative marketing strategies, ensuring every stage of the entire candidate lifecycle is optimised for success.

The power of a strong recruitment marketing strategy cannot be overstated. It’s the beacon that attracts not just active job candidates but also taps into the pool of passive candidates who could be the next game-changers for your organisation.

Talent acquisition specialists are now strategists, leveraging every tool at their disposal – from enticing job descriptions on social media channels to automated email campaigns – to engage interested candidates.

Remember, talent acquisition refers not just to attracting external candidates; it’s also about nurturing current employees, turning them into ambassadors through employee referrals – be sure to encourage employees to share their experiences.

This internal advocacy is a testament to the importance of employer branding, a crucial element in attracting highly qualified candidates.

Senior executives play a vital role in this ecosystem. Their vision and support in aligning financial incentives and marketing campaigns with the recruitment strategy are key to attracting the right talent.

Connect with Kindred Technology

In a world where a qualified candidate has multiple options, it’s these nuances that can set an organisation apart.

Embrace these trends, and watch as your talent acquisition efforts transform into a powerful force driving your company’s success in the competitive global market.

For expert guidance and support in leveraging these trends, reach out to our team at tech@hellokindred.com.