In our previous post, we looked at some of the ways HR can learn from leading practices for customer experience to improve talent acquisition. Enhancing the candidate experiences requires getting smarter about how organizations approach talent acquisition. According to Bersin by Deloitte, recruiting is already an expensive undertaking—US companies spend an average of $4,000 per hire—and it’s likely organizations will feel greater pressure to spend even more in the competition for the attention of Millennials and other talent.1 From social media to alumni networks, it’s time for companies to focus their investments on the areas of greatest payoff. That means linking recruitment more closely to overall corporate strategy as well as promoting a smoother ride for candidates through the process.
The new dynamics of talent acquisition
The competition for talent is intensifying. Continuing economic growth is giving skilled employees more leverage in the job market, raising the bar for companies looking for a talent edge over rivals. Gone are the days when HR could simply announce open positions and expect to get plenty of interested candidates.