In today’s candidate short market, advance planning for your talent needs is crucial. The Lloyd Connect team helps organisations of all sizes across all industries with this as part of our Talent as a Service (TaaS) offering. And today, I’ve asked our team to share their top tips for talent acquisition planning.
#1 Build your employer brand
In today’s landscape, current and future candidates want to know why they should work for you, and the best way to demonstrate this is with a strong employer branding strategy. From your company’s career pages to its social media channels, you should have a clear, consistent message.
It’s important to highlight your unique value proposition – what can you offer candidates? It’s a good idea to research what your competitors are offering and focus on your points of difference to stand out in a competitive market.
It is a worthwhile investment in your future talent pipeline, as highlighted in recent research by Glassdoor out of the U.S., which found:
- A strong employer brand can reduce the cost per hire by as much as 50%, and a negative reputation can cost a company as much as 10% more per hire.
- 75% of active job seekers are likely to apply to a job if the employer actively manages its employer brand.
- Companies actively investing in employer branding can reduce turnover by as much as 28%.
#2 Create talent pipelines for key roles ahead of time
Even the most engaging employers will likely experience some turnover that is out of their control. And with Australia’s job mobility rate peaking at 9.5% in the reporting period to February 2022, it’s reasonable for employers to expect increased movement.
So, planning ahead to fill key roles is a must. This may be done through internal succession planning, identifying suitable external candidates or a combination. It’s essential to understand the skills and experience profile you need for your key roles, so you know who you’re looking for and where you are likely to find them when a vacancy arises.
It’s one of the areas where Talent as a Service can add significant value. It gives year-round access to experienced recruiters who understand your industry, business, skill needs and cultural fit to identify the perfect candidates.
#3 Analyse and leverage your recruitment data
Analysing your recruitment data is critical to help you understand where to find the best candidates for specific roles. The best channel for your recruitment can vary from role to role, department to department, so taking a granular look at the data is a must. Knowing in advance where you will get the best bang for your buck will put you on the front foot when vacancies arise.
Working with an experienced recruitment partner can make this simple, as they put all the data at your fingertips and provide recommendations that combine these insights with deep industry experience.
#4 Invest in your recruitment
In a challenging market, it’s critical to invest in recruitment expertise for several reasons. Most critically, it can help you reach and secure the best talent in the shortest possible timeframe so you can focus on business as usual.
In fact, expert recruitment pays for itself when you consider:
- The productivity hours returned to your business by outsourcing to specialists.
- The speed at which a dedicated specialist can deliver a relevant, vetted shortlist.
- The accuracy of screening to find you the right hire the first time and avoid costly mistakes.
It’s one of the reasons we developed our Talent as a Service offering, to provide organisations with a better way to recruit. Our service gives you year-round access to recruitment expertise to help you plan for and execute your recruitment goals.
Just as most businesses use a subscription model for software rather than buying outright, TaaS enables you to do the same for your recruitment. Our innovative approach gives you access to everything you need for recruitment success for a fixed monthly subscription fee to invest in your most important asset – your people.
So, if it’s time for a better way, reach out to Lloyd Connect. We’d love to show you how Talent as a Service can change the game for your business.