Four Factors that affect an Organisations approach to attracting talent and recruitment and selection
1. Skills Shortages
2. Costs / budgets
3. Lengthy recruitment and selection process
4. Economic Climate
This is a strong factor for an organisation at the moment when trying to attract and recruit talent into a business. The unemployment rate in 2012 has grown significantly; however, even though quantity of applications has increased when recruiting, the quality has decreased. I feel this is based largely around the current economic climate. A lot of ‘skilled and talented’ individuals appear to be staying in their current roles for job security, which is causing a huge skills gap for employers who are recruiting.
1.‘CIPD Press Release’- This year, three-quarters (75%) of organisations experienced recruitment difficulties. As in previous years, the main reason for these recruitment difficulties is a lack of necessary specialist or technical skills.
Costs / Budgets
One focus for certain organisations this year has been around budgets and cutting costs where possible. One area where budgets have dramatically tightened is recruitment. This has caused a review of specific methods that are used to attract talent into the business at as minimal cost as possible. It is important to research the ‘best’ method of attracting the ‘right’ individuals to the position; if this is not done correctly it could cause a cost implication due to unsuitable applications being received, and vacancies not being filled. The use of agencies to source talent has reduced dramatically due to the cost impact this has on the business. In order to save costs of recruiting the focus now seems to be on developing talent in-house rather than attracting external talent into the business. This may also, however, have a cost implication to an organisation as, in order to retain and develop existing talent, a review of the company benefits may need to take place to make this more attractive for the individuals, in particular for the more senior level positions.
2. ‘CIPD Press Release’ – Limited budgets mean organisations and HR departments have to think creatively – doing more for less is not so easy. However by developing internal talent pipelines employees can benefit from increased opportunities, development and progression and the employer can fulfill the skills requirement for the job.’
Lengthy Recruitment and Selection Process
Having a well structured recruitment and selection process is imperative in attracting and retaining ‘strong talent’ into an organisation. Areas to think about when creating this process may be methods of recruitment, how to attract individuals to the business, structure of the interview process and selection criteria. However, if this process is too lengthy and drawn out it can go in the opposite direction, as individuals may drop out of the recruitment process.
The current economic climate has had a large impact on organisations budgets which has meant that, for some businesses, recruitment freezes have come into place. This has caused businesses to focus more on developing talent in-house and moving individuals into roles rather than sourcing external people. In some cases roles have been reviewed and, where possible, two positions have been amalgamated into one position with larger responsibilities and higher expectations.
3. (Annual Survey Report 2012) – 47% of organizations report that the economic climate has had a negative impact on their organizations resourcing budgets for 2012-13
The organisational benefits of attracting and retaining a diverse workforce
Having a diverse workforce can have a large impact for Organisations. A diverse workforce can be anything from personal characteristics i.e. background, culture, personality, etc to protected characteristics i.e. ethnicity, sexual orientation, age, disability, etc. Below are...