Talent Acceleration: The Future of Talent Acquisition
Recently, Harvard Business Review Analytic Services conducted a survey, sponsored by KellyOCG®, about how business leaders and experts view the future of talent acquisition. We wanted to learn their insights in order to test our hypothesis that, due to the evolving workforce and the adoption of innovative technologies, talent acquisition is at an inflection point that could fundamentally change its role in, and value to, the organization.
The changing role of talent acquisition
At its core, talent acquisition is tasked with the build and execution of a strategy that delivers the best talent for the best price and at the right time to an organization. Traditionally, this involved reacting to a requisition by going to the marketplace and identifying potential candidates. However, this traditional approach is no longer sufficient and doesn’t address the demands of the business.
Today, talent acquisition has to consider a variety of factors. Candidates have many different ways to connect with organizations, from social media to ratings and review sites to talent communities. Talent acquisition is responsible for articulating their employer brand across all these channels to attract the right talent.
In addition, the configuration of the workforce is changing. Labor categories such as hybrid, gig, and contingent workers, as well as independent contractors and freelancers are experiencing explosive growth. As a result, talent acquisition must now consider how candidates prefer to work and how best to present their opportunities—especially in a highly competitive landscape where top talent may be focused on one or two of the most sought-after employers in a particular market.
Last, but certainly not least, talent acquisition is no longer about simply filling open requisitions. It’s about creating a workforce strategy that supports the organization’s objectives under dynamic business scenarios. This involves examining the talent component of these objectives and analyzing what has to be done to accelerate competencies and the overall talent strategy in order to drive long-term business growth.
Survey results in brief
After surveying more than 440 senior executives from across the globe and interviewing several prominent experts from a wide spectrum of industries – including high-tech, retail, and life sciences, KellyOCG learned the following:
- Senior decision makers recognize that in order to acquire the right competencies, their organizations need to utilize strategic workforce management. This involves learning how to leverage the ever-changing combination of process solutions, internal and external talent, and technology to their organizations’ advantage.
- The consumer mindset of candidates and employees requires that companies become more innovative and agile in how they recruit candidates and engage employees.
- Talent acquisition leaders now have the opportunity to establish themselves as strategic leaders whose expertise regarding innovative technology, as well as new workforce models and work approaches enables their organizations to optimize labor resources in a sustainable manner.
From talent acquisition to talent acceleration
Clearly, it’s critical for talent acquisition leaders to not only be informed about what’s happening in the marketplace, but to create talent strategies that meet future challenges head on. By doing so, they can proactively leverage and accelerate talent to help their organizations meet their short- and long-term business objectives.
In the following weeks and months, KellyOCG will be rolling out its Talent Acceleration campaign – giving velocity and direction to the change HR needs and sharing our research findings in action-oriented formats – to help you do just that. We’ll be bringing you blog posts, e-books, forums, and webinars to provide you with insights and knowledge about meeting modern talent challenges by adopting collaborative talent acquisition strategies that integrate all aspects of your organization.