The Age of Talent – The New Recruitment Strategy
Today less than 62.7% of the eligible workforce is actually employed! This is the lowest percentage we have experienced in the US since the mid 1980's. In addition there are approximately 19,000,000 (19 million) fewer workers employed in the US than in 2008, just 7 years ago. While we read about lower unemployment statistics, the press ignores the employment data that focuses on those actually working. This mixed message puts additional pressures on employers and employees. Following are some ideas and information to help both understand the realities in the market today.
Candidate Activities - Today's job seekers use multiple job search sources. An ever increasing reliance on technology for the entire process of sourcing, recruiting, interviewing, background checking and assessing employer/employee fit and compatibility are constantly changing. Both need to continuously enhance their skills and adaptability in maximizing success.
Recruiter Efficiency - As always, time is money in this profession. This includes pipeline software to avatar video recorded interviewing. With the endless stream of resume applicants, there is precious little time for face to face meetings until the "final few" are selected. Both candidates and recruiters need to enhance a variety of additional skills in this new era.
Data and Analytics - No longer is a simple candidate log or recruiting log sufficient for effective job/candidate search. Many systems will track resumes but the data is not analyzed into a useable format. In turn candidates do not understand how to present themselves to employers in a reasonable fashion. It is not just about "key words" the needs are around value added. Strategies for both are the future keys to success.
Defining Talent – Talent and talent needs vary by each company and each position. More and more today than before organizations are looking at talent in two parts: 1- What does the candidate bring to us and 2- what can we train or develop in the candidate. On the other side of the equation the candidate is asking: what can I learn and develop with this employer so that I remain employable for the future. Today more than ever, this is a defined area of interviewing to bring employer and future employee together for maximum productivity.
It is no longer a numbers game, as there are many unemployed people; but it is a talent game where needs change faster than can be tracked and documented. Flexibility and critical thinking/learning is at the heart of talent management. Are you ready for today's realities?
Information adapted from CareerBuilder and The Bureau of Labor Statistics.