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08/28/2016

Talents as main future customers for companies

Talent management was mentioned by CEO’s interrogated by Harvard Business review as one of the 3 main concerns for their business. The importance of talent cannot be underestimated in the coming years and the talent market has heavily changed over the years. The old days, where young people send in their CV after which it is evaluated by HR followed by some interviews and the contract offer or decline, are finished. Nowadays talents are demanding and have high expectations from their future employer. It is no longer just about placing ads on different sites and waiting for the resumes to roll in. Rather it is ferreting out those passive candidates and convincing them that your company is the place where they can grow in their future career path. The talent acquisition market has evolved and only those who adapt well will be able to attract talent over the coming years.

From selecting to acquiring human capital: The candidate at the center

The traditional recruiting process is dead. Today, companies and candidates participate in a much more holistic and immersive experience — one that wraps brand, recruiting, and even onboarding into one. Companies are presenting elegantly branded career websites that encourage visitors to join their community networks. Candidates want to talk with different people within the company. They want to have the possibility to ask question to recruiters and in some cases, to current employees, before deciding if a company is a good fit and worth the application. Recruiters proactively search out passive, as well as active, candidates, using sourcing analytics and recruitment marketing technology.

 

In the coming years, talents will have to be approached by HR as the marketing department approaches possible future customers. Customer relationship building, customer attraction, customer experience and customer selection are terminology terms that are applicable to the HR environment. The traditional ways of posting a career opportunity on the career page off a company's website are far out of sight in a world dominated by outrageous amounts of information and mobile devices. In order to attract the best talent for a specific job a company should take into account the following:

 

Become mobile if you aren’t yet

Nowadays talents are expecting an active, engaging, attractive and interactive online presence to search and apply for interesting job opportunities anytime and anywhere, not only sitting behind their computer at their desk but on the go anywhere via their mobile devices or tablets. Every company should ask itself how mobile talent acquisitions tools are used nowadays and how they could be improved.

 

LinkedIn is only one type of social media

A company should be active in different types of social media that will address the right purposes of their communication via LinkedIn, Twitter, Facebook but a company can even consider Instagram, blogging,... Key is to create networks on social media among those people that can be interested in the industry or the jobs in your company can transform into high quality recruits. Social media can be an ideal way to create discussion boards among different people who are possibly interested in the company.

 

Data is big and a key to your HR success

Big data and HR analytics give a company the opportunity to identify sources of talent. A certain job needs a very specific applicant to fill in the position. Big data tools allow to identify and locate the ideal candidates globally and to contact them.

 

Talent acquisition inherits more than just locating and attracting candidates

In the process of getting from identification to attraction, candidates are requiring regular and transparent communication throughout the application process as well as a deep understanding of what is expected from them in the job. If a company tends to be not responsive or informative about the future job, candidates will reconsider other job opportunities. One part of being attractive to possible new talents is the attractiveness of the brand. The HR department should realize that partnering with the marketing department is crucial in the acquisition of new talent since the excellence of the brand and communications that go with it need to be optimized.

 

Sometimes you have the best employee for the job is already present

Apart from looking to the exterior environment considering talent acquisition, every company should keep their employees internally engaged throughout their career and building a talent relationship management. Another option regarding the search for the right candidate looking at the internal organization is using extended employee referral programs since referred employees have a longer tenure and higher job performance.

 

Overall, for companies, there are way more aspects to take into account then the earlier days but also multiple channels to find talent. The balance lies on finding the right partner in talent acquisition and the investment.

 

Tackling the imposed challenges: A benchmark of talent acquisition tools

The global recruiting trends report pointed out that 39% of talent leaders agree that quality of hire is the most valuable performance and 32% say that employee retention is top priority in the next year. In order to tackle HR challenges such as competition and finding the right candidate in high-demand talent pools, you see that vendors who are helping their clients with applicant tracking and managing talent relationships focus on a wide range of solutions.

HR is changing from a transaction focus towards a transformation focus. Vendor solutions try to adapt in order to serve talents in all different aspects of talent management covering cloud systems, mobile processes, big data & analytics, continuous performance development and optimal user experience. These aspects are starting to be realized but need to be further improved over the years.

Mainly focusing on systems offering both ATS (applicant tracking systems) and TRM (talent relationship management) functionalities, these systems try to fulfill the needs of recruiting which has moved significantly to finding the right candidates, engaging them, and converting the passive candidates to active ones. The systems listed in the graph above are trying to offer their clients a more holistic approach towards talent management providing different solutions as an engaging career website, mobile functionalities, HR analytics,…

Besides these systems we need to mention that there are other solutions, tools and vendors that serve more niche areas of the talent acquisition spectrum which are not mentioned in the graph above.

Sia Partners has a broad experience with the different aspects of Talent Management and of the solutions available in the present market place. We are well positioned to guide our current and future clients with their diverse challenges regarding Talent Management process optimization, vendor selection, solution implementation,… Furthermore, we are currently working on a benchmark of the different talent management tools available which will be released at the end of the year.

 

 

 

Sources:

 1. Research spotlight: https://www.shrm.org/Research/SurveyFindings/Articles/Documents/SHRM-Cha...

 2. Biggest challenges linkedin: https://www.linkedin.com/pulse/biggest-challenges-facing-hr-departments-...

 3. Recruitment is not talent acquisition: http://www.bersin.com/blog/post/2012/02/Recruitment-is-NOT-Talent-Acquis...

 4. 9 Things job applicants want from an employer: https://www.yourerc.com/blog/post/9-Things-Job-Applicants-Want-from-an-E...

 5. HBR CEO’s concerns: https://hbr.org/2015/03/the-3-things-ceos-worry-about-the-most

 6. Deloitte: http://www2.deloitte.com/global/en/pages/human-capital/articles/human-ca...

 7. The Challenges facing talent acquisition today : http://www.business2community.com/human-resources/6-challenges-facing-ta...

 

 

 

 

Copyright © 2016 Sia Partners. Any use of this material without specific permission of Sia Partners is strictly prohibited.

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