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It’s more than acquisition
In today’s world of changing jobs and skills, organisations have an opportunity to take a fresh look at how they approach talent acquisition, exploring new approaches to determining what talent they need—and where and how to find it.
During the last decade of economic expansion, organisations have focused on finding the right talent to drive business growth. But with record-low unemployment rates and skills shortages in many technical areas, recruiting has gotten harder, leading to an escalating war of employment brands, recruitment marketing campaigns, and artificial intelligence (AI)-driven tools to deliver recruiting excellence. In 2019 and 2020, as the economy is likely to slow,1 we think a new approach is needed. Rather than automatically opening a job requisition when a manager needs a role filled, it’s time to think about how organisations can continuously “access talent” in varying ways: mobilising internal resources, finding people in the alternative workforce, and strategically leveraging technology to augment sourcing and boost recruiting productivity.
Accessing talent in the social enterprise
Beyond the obvious link that effective sourcing provides to productivity and business performance, there is a social aspect that cannot be forgotten. Just as new approaches are enabling organisations to find talent more efficiently and effectively, they are also enabling organisations to expand their view of talent. As mentioned above, Pymetrics has enabled Unilever to greatly expand its candidate pool by identifying candidates without college degrees that have become highly effective marketing managers.13 Job networks like The Mom Project help companies find highly skilled people who want to come back to work. And talent networks such as UpWork, Fiverr, 99Designs, Catalant, and others provide validated access to highly skilled candidates that might not otherwise be on the corporate talent radar. In the social enterprise, organisations that broaden the lens through which they view capabilities can not only provide opportunities to individuals whom a more conventional approach may have missed but also change their talent brand in the process.
The war for talent is raging more fiercely than ever. To win requires more than execution; it demands reinvention—not just of the talent acquisition process, but of the talent acquisition mindset. To do this, organisations should rethink how to access existing internal talent, reset traditional expectations on where talent can be found and what it looks like, and rewire the recruiting process by taking advantage of advanced technologies like AI. The talent is out there if you know how to look.