“The war on talent is far from over.”
– Deloitte (Global Human Capital Trends: Engaging the 21st-century workforce)
Smart companies know that they’re only as good as their best workers, and will prioritise seeking out the cream of the crop for their organisations. Ask any business about its top challenges for the future, and the odds are good that recruiting and retaining human capital – in short, sourcing Top Talent – are somewhere on that list.
Sourcing is a talent acquisition discipline that is focused on the identification, assessment and engagement of skilled worker candidates through proactive recruiting techniques. Employers aiming to increase head count will be tasked with differentiating themselves from the competition in order to win talent.
“As the employment market continues to tighten, it will become increasingly difficult for employers to find the quality, skilled candidates to meet their needs,” says Joanie Courtney, senior vice president, global market insights at job site Monster. “Attracting and retaining talent will remain a challenge as top candidates experience an increase of competitive job offers, along with better salaries and opportunities.”
Companies looking to recruit and acquire talent now compete on a new battlefield shaped by global talent networks and social media and defined by employment brands and changing views of careers, Deloitte reports. Sixty percent of respondents to their global survey have already updated, or are currently revising and revamping, their talent sourcing strategy. Another 27% are considering changes.
The study reports that talent acquisition and recruiting are undergoing rapid disruption, challenging companies to leverage social networks, aggressively market their employment brand and re-recruit employees on a continuous basis.
Faced with a scarcity of key skills and rapidly evolving talent demands, companies that fail to adapt will likely be on the losing end when it comes to attracting and accessing the people and skills they need. International research clearly shows a major transformation developing in the arena of sourcing. Companies need to re-invest in and re-engineer their end-to-end talent acquisition programs as to stay relevant in this field.