Perfecting your talent acquisition strategy is no mean feat with a barrage of advice constantly on offer and hiring trends subtly shifting on a daily basis. In this article we strip it back to five fundamental reasons your business is failing to attract the talent it needs – and how to fix it.
You don’t have a purpose
Companies with a clearly defined purpose are ‘four times more favourably viewed than those without’. Millennials have previously been perceived as the generation seeking employers with a ‘purpose over profit’ but that is changing. All of today’s workforce wants more than employers who pursue profit at the expense of community and employee wellbeing. Review your employee brand to create a talent acquisition strategy that reflects your purpose. Every update you post, on job boards, social media and your careers site, must align with your company’s vision and purpose. Our previous article Is Company Culture Your Achilles’ Heel? offers advice on creating a talent acquisition strategy that embraces a positive company culture and purpose.
You forget social media
Job sites such as Indeed and Monster have extended the candidate reach of employers and are often the automatic first choice for job posts but 79% of HR is still failing to take advantage of social recruiting. If your job adverts are inundated with applicants who lack the skills and qualifications your business needs, take advantage of the innovation social recruiting brings to your talent acquisition strategy.
You don’t have an effective employee referral policy
Referrals should be your most consistent source of quality hires. A report published by Glassdoor has found that candidates hired through a staff referral increase the chances of a successful hire by 2.6%-6.6% in comparison with other hiring sources. While most companies are aware of the importance of referrals, that same report discovered that only 10% of businesses utilise an effective employee referral programme when filling vacancies. Employee referral programs must be a priority in your talent acquisition strategy in order to attract, engage with and hire the talent your company needs. With a scarcity of talent proving to be a barrier to UK businesses achieving their performance objectives the onus is on HR to create an employee referral programme that works.
Your employees aren’t engaged
Your employee referral program won’t work without an engaged, motivated workforce. A further report released this week suggests that a lack of engagement is the biggest challenge to successful talent acquisition. Without engaged employees your business will fail to fulfil its objectives, or hire skilled people, which brings us back to the first point above – to engage your workforce, your company must have a purpose.
You don’t have the right technology in place
The same report revealed that 16% of HR professionals consider having the right technology in place – and using it effectively - to be ‘a challenge’. The result is that talent falls out of the pipeline early in the hiring process leaving hiring managers with applicants who lacks the skills and qualifications required. Our previous article Why You’re Failing At Recruitment Software offers some insight into the common errors HR makes when using recruitment software.
Effective HR software simplifies your recruitment process by removing manual processes and streamlining the tracking and management of candidates through an integrated applicant tracking system. HR technology will also identify the source of your most successful hires, whether that’s employee referrals, social media, job boards or visitors to your careers site, enabling you to adjust your talent acquisition strategy to attract qualified candidates.
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