Strong brand identity and attention to strategic business results also are key factors.
Add one more hurdle to the long list of business considerations today, that of talent sourcing. New challenges such as those involving technology and long-term strategic thinking are placing increased pressures on outsource recruitment. And companies are slipping backward in their efforts, according to a recent Aberdeen Group study.
The 2014 talent acquisition study finds that 60 percent of organizations are using a reactionary approach to recruiting, compared with 44 percent in 2012. The report examined nearly 200 organizations, analyzing how companies stacked up relative to retention of first-year employees, employee performance, and hiring manager satisfaction, and then distinguishing between best-in-class, industry average, and laggard organizations.
Talent Acquisition 2014: Reverse the Regressive Curse first examined challenges faced by organizations in meeting their hiring and retention requirements. The study notes that nearly 80 percent of respondents said they face shortages of critical skills in their talent pool, nearly half (45 percent) felt they need to improve the candidate experience to strengthen company branding, and more than 40 percent indicated the need to update existing recruitment tools and technology.
"Laggard" performers—those in the bottom 30 percent of aggregate performance scorers—are advised on how they can improve their talent acquisition performance so as to move up to industry average (the middle 50 percent of aggregate performance scorers); and industry average organizations are given guidance on how they can climb the ladder to become best-in-class (the top 20 percent in performance scores).
Constructing a talent pipeline—identifying "passive and active, external and internal" candidates—is critical to business success today. Only 40 percent of laggards proactively build the pipeline, while 53 percent of best-in-class organizations do.
A substantial 67 percent of elite companies optimize the use of social networking tools in their recruitment, while 55 percent of bottom-tier organizations have adopted a strategic approach to using such tools and technology.
The study reports on the degree to which companies understood how "quality of hire" was measured in their organizations. Just 20 percent of laggards understand the metrics that mark a quality candidate—quality is unique to each organization; that number was 58 percent for best-in-class organizations.
Industry average organizations can improve their talent sourcing services processes by developing and honing a strong unified brand identity, implementing onboarding early, and assessing the quality of their hires.
Finally, the report provides takeaways for even best-in-class organizations. Linking talent acquisition to strategic business results, analyzing whether technology tools serve the organization well, and integrating talent acquisition so that gaps in workforce needs are evident are steps these organizations can take to become even better.
source: http://www.astd.org/Publications/Magazines/TD/TD-Archive/2014/09/Talent-Acquisition-Requires-Strategic-Use-of-Social-Media-Understanding-Quality-of-Hire
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