Emerging Talent Acquisition Trends For 2010: Are You Ready for a Roller Coaster? (Part III of III)
In the final installment of this series, I’d like to focus on two remaining action areas that organizations should consider in 2010. Both action areas relate to significant shifts in the broader business environment that talent acquisition leaders must acknowledge, namely a shift in power to global top talent and a shift in privacy concerns.
The third action area addresses emerging trends related to the likely return of intense competition for top talent globally. Some in HR dislike the phrase “the war for talent,” but their disdain for the word won’t change the fact that competition for top talent is once again becoming intense, and that obtaining your organization’s fair share or better will require a battle plan. While a global economic slowdown decreased the emphasis on talent acquisition, it didn’t eliminate it, and as economic growth ticks back up many organizations in high-growth industries/areas are once again battling talent shortages (albeit not necessarily labor shortages). As the competition for talent increases, the relative power of the recruiting relationship shifts away from the employer and toward the potential candidate. This shift in power and competition requires you to take certain actions.
Action steps for handling the power shift
There are four primary action steps that you should consider when the competition for attracting and retaining talent once again becomes intense for your organization:
The final group of emerging talent acquisition trends cover the development of new and exciting recruiting tools that render some traditional tools virtually obsolete. (I’ll be the first to concede that for the average recruiter not much changed in 2009 with regard to technologies and approaches used, but being average doesn’t interest me much!) Innovations often appear at the edge of practice areas and don’t tend to impact the masses for some time.
It wasn’t that long ago that fax machines, newspaper ads, large job boards, and in-person job fairs were considered among the primary tools of recruiters. Fast forward just 10 years and even talking about such tools in a leading talent organization triggers an endless stream of jokes. Despite the status quo of the masses, every new year brings new tools and techniques, some of which make it to fad status and some of which fundamentally alter the game.
The key is to be aware of new tools and approaches and to gauge quickly their trajectory. In an intensive care unit, telemetry nurses are a critical resource because they monitor trends and help prevent critical incidents by escalating cases moving one way or the other rapidly. Today many organizations are on the edge, and a talent acquisition function incapable of recruiting the right talent at the right time paired with a talent management function to make effective use of the talent could put the final nail in the organization’s coffin.
A large number of new and relatively inexpensive Internet tools and approaches that allow organizations to adopt new and exciting recruiting strategies are emerging daily. It’s not acceptable to review a new approach and simply dismiss it as not relevant simply because it doesn’t seem feasible for your organization to adopt. Feasibility is a largely driven by design, and design is largely influenced by need. If organizations focus on addressing the need versus using the tool, often times the right solution is available.
Action steps for identifying and adopting new tools and approaches
There are five key action steps related to emerging recruiting tools and approaches:
There are a host of topics that should be hot in 2010 that most likely won’t break the surface with regards to popularity. They include:
If you follow my work, you probably already know that I have a well-established track record of accurately forecasting HR-related trends. Once again, I’m putting my reputation on the line by forecasting each of the trends that I have identified: the good, the bad, and the ugly. If you are a skeptic, I suggest that you make a note on your calendar to revisit this list in 6 or 12 months to assess its accuracy. I also urge you go the next step and set aside some time to have an in-depth discussion with your team about these and other trends that you’ve identified. The key to dramatically improving recruiting results is not just being aware of trends but in developing strategies, plans, and action steps to actually handle these upcoming problems and opportunities.