Talent Sourcing Secrets For 2024
Today’s labor market certainly looks a bit different than it did at the height of the Great Resignation. Employees may not be leaving for greener pastures as quickly as they had a few years ago; however, finding and retaining high-performing talent continues to be a top challenge facing today’s business leaders. That’s because the entire world of sourcing and recruiting has transformed in the last few years—both on the employer side and the candidate side—and organizations that want to stay ahead of the potentially revolving door need to change with the times.
That’s especially key as we head into 2024, a year that many experts predict will include an uptick in hiring across most sectors. For instance, more than 40% of recruiters at enterprise companies interviewed by Jobvite recently predicted an increase in open roles this year. Similarly, LinkedIn found that 70% of talent acquisition professionals surveyed envision 2024 being the year that their function gains more recognition as a strategic partner, and 60% believe their recruiting budget will increase this year.
The drive is there, the potential is there—and talent acquisition professionals now need to unlock the secrets of talent sourcing in 2024 to make success a reality. Here are a few key considerations to keep in mind as you roll out your 2024 talent-sourcing strategy:
It’s all about the data
Finding the right talent in today’s environment means knowing the numbers. Sourcing strategy must be informed by talent needs, skills needs, DEI goals and more—and the only way to bring that to bear is through rich data. That is going to require that talent professionals in 2024 upskill themselves in all things data.
AI is at the forefront
A recent Korn Ferry study found that more than 80% of CEOs and business leaders predict that in 2024 AI will have a “significant” or “extreme” impact on the business, including in the area of sourcing and recruiting. Talent professionals are already seeing the potential for leveraging AI in everything from writing job descriptions to using chatbots to screen candidates. Organizations that want to effectively use both their talent and their resources will need to explore how they can best incorporate AI into their people practices.
Mitigating tech risks
While AI will be a necessary cornerstone of any 2024 talent sourcing plan, it needs to be rolled out strategically. That will require aligning AI strategy with business strategy, putting in guardrails for its ethical use and ensuring enough human touchpoints still exist. After all, chatbots can help improve the efficiency of the candidate experience, but they can’t ever fully replicate the relationship between candidates and human talent professionals.
Internal mobility is primed to be a major theme in 2024. With ongoing economic uncertainty and the drive to hike retention numbers, more employers are looking to lateral moves and promotions. Enabling mobility can benefit not just retention but may also be a good brand builder that helps the organization recruit top talent of tomorrow.
People professionals are likely just as focused on the skills shortage as they are on the labor shortage. Preparing for the future of work means arming your organization with the right skills—not necessarily the right college degrees or work history. Employers looking to gain a competitive edge will need to leverage talent intelligence to do a deep dive into their skills needs—and use that data to build a sourcing plan.
Outsource recruiting for expertise, efficiency
Trying to do more with less is a reality for many talent teams today. Stretching resources too thin, however, can ultimately do more harm than good. Instead, many employers are looking to recruitment process outsourcing to more effectively and strategically approach recruiting and hiring. In fact, 55% of talent pros recently surveyed by Employ are considering outsourcing some of their recruiting work this year. Integrity Staffing Solutions’ RPO services enable an organization to maintain the same high standards for recruiting, supported by a data-focused strategy. However, by offloading the often time-consuming sourcing and recruiting work to ISS, employers can enable their internal talent professionals to focus on the many other pressing talent challenges throughout the employee lifecycle.
“Candidates today are emboldened more than ever to seek out roles and companies that match their own values,” wrote researchers in a recent Jobvite study, who note that company culture needs to be a focus for any forward-thinking employer in 2024. Given candidates’ emphasis on culture, talent professionals need to actively communicate culture from their first contact. Everything from a company’s policy on flexible work, the diversity of its workforce, and the design of its benefits program can show a candidate what working for the organization will truly be like. By emphasizing culture upfront, employers will be better positioned to find talent that is a right and lasting fit.
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