Solving talent shortages with HR investment
The recruitment world is constantly evolving and gone are the days of working 9-5 five days a week in an office. Remote and flexible working have taken their place and becoming a popular choice amongst employees looking to switch job roles or new talent joining the market.
Apart from the obvious changes that have occurred over the past few years, the recruitment sector is dealing with a new battle including HR investment and functions.
People are calling for a more sophisticated approach from HR leaders to better understand what staff both want and need. HR departments need to play a leading role in defining the ‘new era of work’, and it’s paramount for HR leaders to reconsider their employee experience if they are going to retain and attract talent in the future.
Technology will be a part of this vital shift, data and feedback will need to utilised to succeed and choosing to not utilise new technological tools will come with major risks.
Here’s a few surprising HR statistics that could help you solve your talent shortages.
Quality
Did you know almost 70% of employees would rate the quality of their HR team as average, and surprisingly, just over 9% of employers said HR was not a focus of their business and would rate the quality of their HR function as poor.
Investment
55% of employers have stated that their HR department receives “adequate” investment to address challenges. Whilst, just under 65% of respondents see retaining talent as the main objective of their HR team, suggesting companies are aware of the risks of losing employees if they do not improve the employee experience now.
Challenges
Candidate sourcing, culture and employee engagement, and employee career development were the main challenges faced by employers. Candidate experience and development, and learning and development, also ranked highly.
Attracting
Employers are using a multitude of strategies, including flexible/ remote working (68%), improving employee engagement (73%) and investing in technology (48%) to attract new talent.
Technology
Over 85% of employers are using technology to inform their talent acquisition and management strategies, but less than a third are using technology frequently to make data-driven decisions.
Skills
Over 70% of employers are looking to upskill their existing employees to address the skills shortage in their industry. A further 61% are re-evaluating their recruitment process, and 54% are paying more for top talent.
Statistics by The Access Group | Report
With these HR statistics it comes as no surprise that nearly 90% of employers said their HR department need to change and innovate to overcome the challenges above. Companies which can adapt and be flexible are those that are going to prosper as they invest in their people.
HR professionals need to recognise there is now the need for a more ‘human approach’ to work. Employees are individuals that are more engaged and productive if they identify with the goals of the organisation they work for, its vision, values and how it treats employees. They want the ability to continually learn and develop themselves. If opportunities are not presented to them, they will go elsewhere – and amid the talent shortage, the labour market works in their favour.
How we can help
We provide HR professionals, recruiters and hiring teams with innovative cloud-based technology aimed at streamlining their recruitment process, making it quicker and easier to recruit whilst significantly reducing the time and cost to hire.
As early pioneers of multi-job posting technology our expertise extend into candidate response management, CV comparing and scoring, search capabilities through to candidate onboarding and applicant tracking software much, much more!
Request a call back by completing our contact form or give us call us on 0345 60 00 550.
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