As the world’s economy tentatively emerges from the global recession, organisations that need to recruit to support their growth are increasingly facing a new breed of candidate, one that’s younger, more demanding and more empowered than ever. To examine the challenges HR faces in this new landscape, Lumesse recently teamed up with Deloitte to ask ‘What are the top issues HR is facing?’ What we found was that companies seeking to acquire new talent must now compete on a recruitment battlefield shaped by global talent networks and social media.
Employees with sought after skills are finding themselves with more choice than the hiring managers looking to recruit them. With direct access to company information on the internet, candidates can learn about potential employers instantly and decide whether a company is the right fit for them. Since the labour market is increasingly weighted in favour of the candidate, HR managers need to be sure they are making the right decisions. For example, nearly 45 percent of candidates today apply for jobs via mobile devices. As a result, companies need to engage with the world of social networking (i.e. LinkedIn, Facebook, Twitter) to market their companies to passive job candidates.
Deloitte surveyed a wide pool of respondents, mainly senior leaders, all the way up to Board level, with 79 percent at Senior Manager level or above. 2,500 business and HR leaders took part in the survey with results from 94 countries captured in the survey.
Key findings include that 60 percent of respondents have updated or are currently updating and revamping their talent sourcing strategy. Faced with a scarcity of key skills and rapidly evolving talent demands, companies that fail to adapt will likely find themselves vanquished in the battle to attract and access the people and skills they need.
Following Deloitte’s study, we will be exploring the findings in a series of upcoming webinars, covering the entire life cycle of HR from recruiting topics such as onboarding, compensation and performance evaluation through to leadership, leaving a company and succession management.