Who would have predicted accelerated talent demand post pandemic? Already struggling with skills shortages, the talent crunch is even more acute and shows no signs of easing. Never before has your employee proposition been more important to attract and retain the right people. These are unprecedented times. Life is good for job seekers in today's market.
yohrs has spoken to clients, candidates and talent acquisition specialists to bring you key insights. Here's the talent acquisition trends in 2022 having the biggest impact.
Talent shortage - The great resignation is happening
Brexit and COVID have changed the labour market with demand for talent outstripping supply. Employee resignations will continue as the war for talent hots up. This has been compounded by hybrid and remote working models. Employees now have less geographic constraints and more opportunity. Social connections, the glue that holds people and companies together, are less frequent making it easier to leave your current employer.
Internal mobility - Are you optimising what you have?
Now is the time to evaluate your current workforce. With talent shortages, the focus should be on up-skilling and re-skilling existing employees. Not only will it support employee retention and engagement, you'll also get to fill those niche roles. Companies that create workforce agility, who can unlock skills and shift talent around, will future proof their business.
Incentives & benefits - It's not all about the money
Get creative with your compensation, benefits and incentives. The future of work has changed and it is not all about salary. Non monetary benefits such as remote or hybrid working are increasingly attractive to people. We are seeing 'signing on' bonuses to attract top talent, investment in wellbeing programmes, and bespoke development opportunities.
Onboarding - New hire experience matters
In 2022, we are helping more and more companies reinvent their onboarding process for new hires. New employee experience is critical and starts long before day one. Gone are the 'in person' day one introductions, lunch with the team and time with IT to collect/set up your laptop etc. In a remote world, virtual introductions must be scheduled, explanations on what each colleague does have to be spelled out and processes need to be clearly articulated.
Diversity, equity & Inclusion - Levelling the playing field
Despite being a key part of every people agenda, there is still work a long way to go and 2022 is likely to see a greater focus on social inclusion. To combat talent shortages, companies are looking at more diverse talent pools and moving way from traditional methods. No longer is 'degree qualified' a 'must have' criteria and we are experiencing less push back on gaps in CV's. The retired/ageing population is being tapped into to find the skills and experience needed.
Company culture has always been important in talent acquisition. Now we are seeing a much stronger spotlight on creating a compelling (and authentic) employee value proposition (EVP). Those companies that get it right experience improved employee and candidate engagement and ultimately greater business success.
Candidate experience - How do you stand out?
Demand for our recruitment process audits have increased dramatically in 2022 as companies take a closer look at factors impacting their hiring success. Candidate experience is everything, from having a compelling EVP to tone of voice and ease of process. Getting it right will increase acceptance rates and reduce drop outs. It's no longer enough to simply shuffle people from one stage to the next. Those companies that prioritise transparency, act and ask for feedback and build genuine, human connections with candidates are winning.
If you want to learn more about our talent acquisition solutions then please contact us at jo@yohrs.co.uk or visit our website www.yohrs.co.uk
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