Recruiting top talent is a major challenge and concern for all organizations, but that's not a new or unique recruiting challenge for 2014. But, challenges that are new to 2014 are those hiring and recruiting challenges that make it difficult to recruit top talent. Essentially, the challenges that make recruiting top talent a challenge. Below are the top four recruiting challenges for 2014, challenges that will make it difficult of find and to hire the top talent that you need to suceed this year.
Shortage of Top Recruiters
Over 60% of US CEOs reported difficulty recruiting staff, and of those 87% blamed a shortage of skilled recruiting staff in the roles required. Top recruiting talent may have been a challenge for some organizations, but this challenge is only going to get worse and affect more organizations. Recruiting, in and of itself, is only going to get more competitive as firms poach from each other and begin to bid over the best recruiters. To overcome this challenge, organizations are either going to have to do their best to retain the best, or focus on training their current recruiters so that they are able to fill the roles required.
Retaining Top Talent
Turnover rates are projected to increase 25% in 2014, primarily because employees are getting more comfortable with chasing exciting job opportunities versus staying put for security needs. What these turnover rates mean for organizations is that they need to work at providing those exciting job opportunities for their own employees so they don't have to chase them elsewhere. Addressing high turnover rates also means having flexibility with the fringe beneifts employees want (such as telecommuting options) as well as considering their non-salary demands. Although increasing salary can help in retaining talent, those companies that aren't able to do so need to get creative in how they are going to keep their best people without the financial resources.
The Need for Smarter Sourcing
Resume spamming is never going to end. With every open position you post, you will always receives tons of resumes from people who are unqualified for the position, or who may not have even read the position. Therefore, organizations needs to source smarter for their open positions, instead of hoping to get through the pile of resumes faster. Sourcing smarter could mean a variety of tactics, such as mobile recruiting, employee referrals, and social media recruiting. A great measurement you need to have to determine your best sources for great candidates is the signal to noise metric. This metric shows you which sources ultimately lead to the most hires. Those job boards may bring in the most applicants, but it may be another source with fewer applicants that is the source of the most hires.
Trying to Do Everything Yourself
With the increasing complexity of recruiting because of social media, new technology, promoting open positions, and changing behaviors of the job pool, keeping your entire recruiting process in-house may not be the best way to handle all this complexity. Yes, some companies can do it, but if you're company is struggling it may be a good idea to outsource some or all of your hiring and recruiting functions. Currently, only 36% of companies outsource some or all of their hiring and recruiting, and most of them are only outsourcing their payroll.
Overcoming the top recruiting challenges of 2014 isn't going to be easy, but it isn't going to be possible unless you have the right fits aand relationshipos. Understanding how you can manage, support and maintain a strong relationship with your RPO provider or client, a leader will always be guaranteed the best results.
In our hour-long webinar on managing healthy RPO relationshipos, you will:
