2020 Hiring: How to Craft a Talent Acquisition Strategy

Jenay Sellers | Dec 04, 2019

In today’s hyper-competitive job market, where employment has reached historic lows, it’s becoming increasingly difficult to attract and retain top talent. Companies that prioritize talent acquisition as a key component of their overall strategy will be better positioned to maintain a full recruitment pipeline while keeping engaged employees happy and bolstering their employee brand.

So what is talent acquisition? According to HR Technologist, it’s defined as, “The process of developing a full-fledged strategy to attract and recruit top talent.” It should not be solely limited to recruitment, because recruitment is one part of true talent acquisition. In addition to recruiting, talent acquisition includes employer branding, recruitment marketing, employee onboarding, succession planning, and talent development.

In addition, leveraging talent outside of full-time employment, such as hiring Gig Workers with very specific skill sets or expertise, should also be considered. Businesses that adapt, shifting their focus from traditional 9 to 5 hiring practices, can leverage additional talent sources to quickly meet changing demands, save money, reduce time to hire, and benefit from specialized expertise.

With these considerations in mind, organizations can dedicate resources to sourcing top-quality candidates while following hiring best practices to help them remain competitive as they move into the new year ahead.

Build your talent acquisition strategy

HR Technologist says there are 5 Steps in the talent acquisition process: inbound marketing, outbound marketing, filtering and selection, conversion and onboarding, and continuous improvement.

A nonlinear process, talent acquisition should be incorporated into your overall company strategy, carried out across many departments, and continuously improved.

Much like digital marketing today, you should focus on inbound and outbound efforts to source candidates. Once the applicant pool is filled, HR can focus on filtering and selection (recruitment) as well as conversion and onboarding (hiring and training). Lastly, it’s important to collect feedback to iterate. Gather feedback from your employees to learn what’s working and what can be improved as it relates to your hiring practices.

In addition, it’s important to understand what your employees want. For example, a retail store’s employees may prefer discount codes for the retailer as opposed to on-site catering. Find out what makes your employees tick so that you can align your offers to their top requested perks.

Define your strategy

You’ll want to make sure the changes you’re implementing at the recruiting and employer brand level also align with the purpose behind crafting your talent acquisition strategy. For example, consider the various scenarios you may encounter as they pertain to your hiring plans. Are you hiring senior-level strategic candidates? Will you encounter seasonality that requires you to make a large number of hires at once? Do you have an internal process so your employees can refer candidates? What positions could be offered to Gig Workers or contingent labor?

Culture counts

Increased hiring competition has put the impetus on businesses to evolve culturally. Companies that offer a culture of flexibility and transparency are better poised to meet the wants of the rising millennial and Gen Z talent pool — a group that will account for 58% of the workforce in the next decade, according to CNBC.

With employees currently enjoying their time in the driver’s seat, it’s important for employers to differentiate from the competition by offering a superior cultural experience. Companies emphasizing the employee experience by offering flexibility and transparency are now being seen as the most attractive to the next-generation workforce.

Recent Glassdoor research states the following three core drivers of employee satisfaction:

  • A workplace with a clear mission connecting employees’ work to a purpose.
  • High-quality senior leaders who are inspiring, empathetic, and competent.
  • A set of clearly-defined upward pathways.

Businesses who put their culture-first by aligning it to what makes employees feel valued and satisfied will continue to win the war in attracting and retaining top talent.

Include Gig Workers

Today, Workers have more freedom than ever to pick up temporary positions that allow them to work on their own terms. This means there’s a growing pool of talent who may not be interested in your full-time job posting. The good news: Workers aren’t the only ones benefiting when Gig Workers are utilized. Consider ways to leverage temporary Workers as part of your talent acquisition plan. Doing so can help your business take advantage of many benefits as outlined below.

Hiring Gig Workers can help you:

  • Find specialized expertise on-demand.
  • Rapidly grow or shrink your workforce (without the downside of cutting full-time employees).
  • Access global talent (which may be priced lower overseas).
  • Offer 24-hour customer service.
  • Experience amazing growth by enabling you to leverage specialized skills from freelancers without the high overhead of hiring a full in-house team.
  • Save money on employee benefits and traditional staffing expenses.

As an added bonus, utilizing Gig Workers frees you up to capitalize on available time and resources, without the burden of long-term commitments. Successful businesses will set themselves apart by finding ways to try out and utilize on-demand Workers as part of their modern talent acquisition plan.

Think ahead to hire ahead

Paired with today’s historically low unemployment rates, it’s now more critical than ever for employers to be proactive in creating talent acquisition plans that will set them up for long-term success. Businesses who think beyond the traditional job requisition will better position themselves to leverage freelancers and Gig Workers who provide many benefits when included as part of a modern talent acquisition strategy.

GigSmart makes it easy to leverage temporary Workers when your business needs arise. To post your first free Gig on our mobile hiring app, download the GigSmart Get Workers app today.

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