In 2018, virtually 75% of employers struggled to fill positions with the proper candidates. Unfortunately, this talent shortage is simply worsening. Research by Korn Ferry predicts by 2020, the technology, media, and telecommunications industries alone may be short over one million complete staff globally.
Talent acquisition is growing globally at an astonishing pace. Considering global professionals, 70% of people in professional services work remotely at least one day in a week. These numbers might be a bit shocking for people who still work in a traditional workspace. As we intensify our understanding of the massive increase in global hiring, we must also endow ourselves to compete effectively.
Below pointers suggest a global talent acquisition strategy.
Focus on better employer branding
Employer branding is one of the most important features of successful talent acquisition. Talented candidates compare companies before they apply for any position; they tend to choose the organizations which have the simplest values, culture, and which promote work-life balance. By cultivating a powerful leader, you may attract higher talent and notice a lot of long-run success. Always keep your current employees in mind while developing your employer brand as they can help strengthen your value proposition.
An impactful onboarding process can be the key to the long-term success of remote employees. It can also help establish a collaborative environment that reaches to different time zones, geographies, and cultures. Both employees and employers are in the nub of a workplace alteration. Team members can join meetings and contribute via cloud-based tools and video conferencing, no matter which place they are at.
Need for global talent acquisition
Before we act, let’s understand clearly the need, supported by a review of global talent acquisition growth trends. Businesses of all sizes let it be giants, well established, or just the beginners are entering or expanding their reach in the global marketplace. The number of Fortune 500 companies based in global emerging markets is expected to exceed 45 percent by 2025, according to research by McKinsey & Company, a management consulting firm.
According to a 2018 survey by freelance website Upwork, less than 40% of US hiring managers expect employees to do the majority of their work remotely in the next ten years, according to a 2018 survey by freelance website Upwork. All of these points in the same direction: With the increase in the global workforce, we have to renew our commitment to cross-cultural and diverse communication. This applies to the full life span of talent acquisition, but it begins with your candidate engagement strategy.
A good talent acquisition strategy is always in transition
Designing a talent acquisition strategy is imperative to the success of your business and to ensure that recruitment as a process is conducted not merely on the need basis but as part of the strategy.
However, as you could probably discern from the points above, there is no one-size-fits-all when it comes to a strategy for talent acquisition. Instead, a good strategy is one that is designed to tailor to your business and is flexible enough to evolve as the business and market change.
To succeed long-term, you must attract and retain talented employees regardless of vacant roles. Talent acquisition will assist you to do that while solving for long-term organizational needs.