How do you compete for top talent in an economy where candidates are in the driver seat? In this week’s #AskAnRPOExpert, we’re continuing our discussion with Newton Talent’s, Patty Silbert on how HR can best adapt to the present job market from a talent acquisition point of view.
Related: Adapting Your HR Strategy to A Changing Job Market with Patty Silbert
RPOA: What does the lack of specialized talent available in the market mean for organizations?
Silbert: HR must understand that the tables have changed, and that the lack of specialized talent means the candidate is driving the conversation. That’s the reason the recruitment and workforce practices that organizations have used in the past no longer work. The skilled talent that every organization seeks has far more choices than they’ve ever had before. This is why the brand alignment within HR/TA [human resources / talent acquisition] is also a key component of the hiring strategy today. Employers need to promote their employee value proposition to candidates in order for them to see the company as a talent destination for people in their discipline. They also need to make every effort to manage their employer brand reputation and experience. Much like consumers, top talent “shops” their next career move before they even apply.
How are companies adapting to the new hiring environment?
A lot of organizations are already “there.” They’re outsourcing processes that are inefficient and inconsistent, or when they can’t keep up with evolving sourcing techniques that slow them down. HR/TA has many demands on their time and competing priorities. Organizations who quickly identify outsourcing as a “better way” find they are better able to meet the organization’s strategic goals and operational plans.
Can you talk a little about how RPO is positioned to work in these specific labor market conditions? Does RPO have advantages over other options?
Partnering with an RPO allows organizations to leverage advantages like greater reach and recruiting expertise, standardization of recruiting processes and economies of scale. It helps them make better use of their current resources, allowing them to focus on other strategic initiatives with the full confidence that their talent acquisition needs will be handled by skilled experts who are entirely dedicated to their organization. Because RPOs thoroughly understand how the labor market conditions have “flipped the game,” they are well positioned to help organizations find and hire top talent. Not only do they invest in the resources and expertise to help them source today’s most sought-after talent, but they take the extra time to understand the culture and brand so they can position it well with candidates.
