This is my first day at Brandon Hall Group, and rather than sitting in an office, I am in beautiful Park City, Utah, attending HireVue’s Digital Disruption Conference with my new colleague, Kyle Lagunas. It is a very exciting time in talent acquisition and I am thrilled to be joining the BHG team, from my previous position at Aberdeen Group, and collaborating on research in this area.
Since I am just getting started, I thought this was a good time to share a few trends and best practices that I have come across, before I turn my attention to the HireVue event and myriad other topics.
If you are struggling to develop and implement a successful talent acquisition strategy, you are not alone. Talent acquisition is the most complex area of human capital management yet many companies lack the necessary resources, tools and capabilities to build a results-driven program. Instead, they continue to rely on outdated processes and technology. As the workforce changes, talent acquisition needs to keep pace and recruiting leaders must rethink their approach to finding talent.
Here are five key trends and developments as I see them:
- End-to-end talent acquisition: A few years ago, the biggest trend in HCM was the concept of an integrated talent management strategy — a way for organizations to build consistency throughout all of their talent processes. Although this integrated model has provided tremendous value to the overall business, many recruitment functions have lost their way. By focusing solely on integration, they have failed to address the growing complexities of talent acquisition. Leading companies are beginning to take a step back, reexamining their recruitment processes and providing the same rigor around the idea of an integrated talent acquisition model. These companies are implementing programs and technology solutions that will connect the dots between employer branding, sourcing, screening, assessments, hiring and onboarding.
- Video: It is no surprise that video has disrupted the talent acquisition market. Organizations regardless of industry or company size are embracing video tools for branding, sourcing, interviewing and onboarding. As organizations (such as Walmart, the Boston Red Sox, and Rio Tinto) look to expand globally and embrace the emergence of Gen Y, video must be part of the equation.
- Recruitment analytics: Big data is the big topic in HCM. As companies look to make sense of various sources of candidate data, recruitment analytics is becoming a popular topic. With the right information and the right tools, companies can make better decisions around their hires and measure the effectiveness of their recruitment efforts. The challenge is selecting the right provider and defining metrics that will align with business objectives.
- In-house Sourcing: Companies are not only rethinking their use of traditional job boards but they are also building internal sourcing and internal executive search functions. By bringing sourcing in-house, organizations will save on escalating third-party recruiter fees and create a better candidate experience. Internal sourcing teams are also more likely to identify talent that will improve organizational performance and turnover rates. Coca-Cola, Microsoft and Nike are examples of companies that have seen great success through an internal recruiting team.
- Contingent Workforce: The rise of the contingent workforce is inevitable. Organizations recognize the benefits of a flexible workforce and its impact on cost savings, productivity and skill gaps. In the past, contingent labor has been managed by procurement departments while HR managed full-time employees. As companies increase their use of contingent labor, the lines are becoming blurred and recruiting functions need to consider strategies and technology solutions to support the entire workforce.
So those are my five hot topics. As Kyle and I work to put together our research agenda for the remainder of the year, what topics would you like to see us cover? What recruitment challenges are you facing and what best practices have you implemented? We hope to hear from you!
–Madeline Laurano, Vice President of Talent Acquisition Practice and Principal Analyst, Brandon Hall Group