Last week Talemetry hosted a webinar with Madeline Laurano of Aptitude Research Partners. Madeline shared her insights into what 2018 talent acquisition trends would matter and her recommendations for leading organizations to get the most value from those trends based on Aptitude’s primary industry research.Current state of TA
While it’s no surprise for those of us in the industry, Aptitude’s research shows that a new priority for business leaders has emerged. 83% of companies say that talent is a #1 priority. According to PWC, 77% of CEOs say the #1 threat they face is talent acquisition. With historically low unemployment rates of 4.1%, it’s no wonder. Executive leaders have ambitious growth, innovation, and expansion plans but without the right talent, they won’t be able to succeed. 75% of companies said that talent acquisition is critical to their planning. Talent acquisition is no longer just a recruiting or HR priority. Talent acquisition is a business priority.
Madeline shared five key trends that she sees in 2018. In one sentence; it’s about getting back to the basics.
- Greater simplicity. Talent acquisition has become really complex. New technologies, new innovations, and new strategies are expanding our talent acquisition ecosystem. 51% of companies use three or more ATSs. 66% of companies use three or more sourcing solutions. 70% of companies use three or more general job boards. That’s an awful lot to manage and measure. And without a centralized results-driven recruitment marketing platform to manage it, many companies are working with siloed solutions and don’t know which of those is producing the most best-fit candidates.
- Improved candidate communication. In one second there are 2,100 Skype calls, 7,188 tweets, almost 54,000 Google searches, over 121,000 YouTube videos viewed, and almost 2.4 million emails sent. And 47% of employees aren’t reading that email. So what does that mean to you as you reach out to candidates? It means you need to find alternative ways to communicate, and to be creative to get that candidate’s attention. There’s a lot of noise you are fighting against.
- Increased investment in recruitment marketing. $130B will be spent on talent acquisition in 2018 and a big part of that is to attract and nurture candidates. A centralized recruitment marketing platform will help organizations measure where the best candidates are coming from and how to optimize their investment.
- Data to drive decisions. As companies invest further in their talent acquisition solutions, there will be a need to measure which efforts and investments are producing the best results, aka the best candidates. Data that can be tracked and measured will provide these results. The other area where data will be important is AI. AI is promising without a doubt. But without the data to empower AI, there is no value to it. So companies will be investing in data to enable AI when the time is right.
- Expanded definition of the candidate. Over 70% of companies hire contingent workers and as our workforce continues to evolve, this will grow. As companies look to grow and retain their best internal employees, internal mobility is also a priority. 70% of companies will invest in talent mobility initiatives by the end of the year.
Madeline left us with some of her key recommendations for talent acquisition leaders to make the most of these trends, with a focus on the areas that are providing value.
- Simplify the process. Recently the Talemetry Research Team conducted a survey of the Fortune 500 career sites and found out why so many of the largest organizations are losing 70-80% of their candidates during the apply process. With so many technologies in place, the process has become disjointed, unfriendly, and a barrier instead of an invitation to apply. Improving the candidate experience is a #1 priority for 2018 and simplifying the process will support this.
- Embrace data. Data will drive decisions. Data will advise where your best candidates are coming from and which of your recruiting investments is delivering the most value. Data is also the foundation needed for AI. Over 60% of companies are confused by AI with good reason. AI is just a tool, but without the data to empower it, it’ll just alienate your future candidates.
- Look at the consumer world. We are all accustomed to a consumer experience that has risen with companies like Amazon and Netflix. We expect our user experiences to not only deliver us what we ask for, but also anticipate what we need or want, but don’t even know it yet. A consumer-like user experience, like Talemetry Career Sites, will anticipate what other jobs might be of interest to your candidates and feed them up on their job portal. We need to ask ourselves, ‘How can we do a better job of simplifying that experience for the candidate?’ We need to deliver a consumer-like user experience and provide content that is relevant and meaningful.
- Empower talent acquisition to think strategically. Talent acquisition has become a $2b marketplace. There are new innovations entering the market every day. And companies have made it clear that talent acquisition is a strategic priority for them. So it’s time for talent acquisition professionals to be empowered to think and act strategically and proactively.
- Invest in the right provider. We were so glad Madeline mentioned this. We’ve recently had a few customers join the Talemetry family that had invested in other recruiting platforms that were less mature and the organizations were not quite prepared to deliver results. Be sure to spend time talking with your technology partners, ensure they can provide you with the experience, expertise, and proof that they can help make you successful.
What’s worked in the past won’t work in the future. It’s an exciting time in talent acquisition and we’re looking forward to an innovative 2018!