Digitalization is creating fierce competition for hires with digital skills. This is now felt across all sectors, not just those on the leading technological edge.
Talent shortages have a real business impact. For example, median time to fill critical roles increased by 30 business days between 2010 and 2017. This slowdown can stifle productivity, innovation and business growth.
Learn more: Recruitment strategies to acquire and retain top talent in the hypercompetitive labor market.
When competing for digital talent, recruiters make several common mistakes. They promote their most appealing brand attributes, which aren't unique enough. They focus on their sales pitch instead of the candidate's career goals. And they prioritize preferred skills and experience instead of looking for what's truly needed. In addition, organizations often assume that more pay translates into more quality hires, underestimating other value drivers.
Adopting a market-driven sourcing approach enables organizations to compete effectively for talent with digital skills. Recruiters anticipate organizational needs and the talent market, instead of simply acting as a hiring service. This flexible, yet evidence-based approach to recruiting can save the organization up to $1.8 million per 1,000 vacancies.
Compared to recruiters who follow the defined needs of the organization, recruiters who deploy market-driven sourcing hire 22% more employees per year.
A market-driven approach can help you overcome the common barriers that prevent you from competing effectively for critical talent.
Digitalization is not just disrupting business — it is disrupting talent as well. TalentNeuron™ helps inform your talent strategy in a constantly evolving world.
We surveyed over 500 senior executives and found that only 27% have a cohesive digitalization strategy across the enterprise. The definition of digitalization is crucial to set HR strategies for the future.
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