Tech & Digital Skills: 5 Recruitment Strategies for Closing the Skills Gap

Posted on June 16, 2023March 25, 2024 by akessler

There are a host of new and emerging tech disciplines—the metaverse, blockchain, generative AI, cybersecurity and more—that are changing the way we work and the kind of work we do. Many jobs that were previously done by humans are now done by machines. Many new jobs are emerging that require new and changing skill sets and organizations are struggling to find the talent they need to keep up as tech and digital skills gap grows.

According to World Economic Forum, it is estimated that by 2030, “approximately 85 million jobs could go unfilled globally because of a lack of applicants with the skills to take them, which could result in $8.5 trillion (USD) in unrealized annual revenues.”

Skills Shortage: Digital Age or Digital Deficiency?

Salesforce’s 2022 Global Digital Skills Index surveyed 23,000+ workers across 19 countries and found the global digital skills readiness score is just 33 out of 100. No wonder that 64% of managers don’t think their employees are able to keep pace with future skill needs. Furthermore, 70% of employees say they haven’t even mastered the skills they need for their jobs today. Plus, a third (36%) of HR leaders say their sourcing strategies are insufficient for finding the skills they need.

As organizations try to reinvent their business models to keep up with change, employers of all stripes—regardless of sector—must prepare their workforce for digital-first employment. By taking a skills-based approach to your talent acquisition strategy, you can move beyond your tired methods to find people with the right skills and competencies regardless of their degree or job history.

Recruitment Handbook for Hiring Tech & Digital Talent

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Measuring the Technology Skills Gap

As an HR or TA leader, you’re probably asking, “Which digital and tech skills should I prioritize?”

Well, it depends.

To plan for the skills of the future, you must know where you are today. Conduct a skills inventory of current employees, regardless of department. Then, run a technology skills gap analysis, looking at what’s available now and what you’ll need in the future based on your organizational strategy.

This, combined with external labor market data on the availability of tech and digital skills, you’ll be able to understand which critical skills gaps are in place today, what skills are available in the market and what skills you’ll have to develop internally.

Only one in four talent analytics teams currently use external market data.

5 Skills-Based Talent Acquisition Strategies for Tech and Digital Talent

Here are five strategies for closing the skills gap for your tech and digital roles.

1. Assess for Adjacent Skills

A crucial part of your skill inventory must be identifying skills adjacent to your critical skills which can be developed to bridge the gap. With the right capability and skills taxonomy in place—both for internal mobility and external hiring—you can tap talent with related skills to fill talent gaps through recruitment and upskilling.

PeopleScout recently facilitated a reskilling project for a leading bank in the UK. We supported an evaluation of their customer service employees in call centers and bank branches to identify hidden skills. We evaluated hundreds of employees, surfacing many with complementary skills who are now involved in a development program to supply software engineering talent in the future.

2. Don’t Overlook Candidates with Non-Traditional Backgrounds

Identifying these complementary skill sets has the additional benefit of helping you surface non-traditional internal and external talent pools. These are candidates who possess the skills necessary to perform a role’s duties but may never have held a position with a tech or digital specific title. By taking a skill-based approach to tech and digital talent acquisition, you don’t limit yourself to a small talent pool with hard-to-find experience. This could also mean relaxing requirements around university degrees. Plus, it’s a great way to achieve diversity and social-mobility goals.

3. Develop Upskilling Opportunities

Once you’ve found talent with adjacent skills, you’ll need an upskilling program to get them up-to-speed on their target role and for ongoing development of skills as new technology emerges. Learning and development programs are a great way to support cross-functional talent mobility. Plus, it can act as a big draw for recruitment, as more and more candidates say they value growth opportunities when considering a new job. According to the LinkedIn’s Future of Recruiting report, Advancement and Skills Development are in the top five most important priorities for candidates.

4. Embrace Global Expansion

With the explosion of remote work, organizations can widen their talent search beyond their office locations. By shifting your focus to talent location and skill set, rather than your business footprint, you benefit from a more diverse talent pool. Leverage labor market data to find emerging tech hubs where demand is still low. For example, several cities in Latin America have a growing supply of digital skills with moderate salary expectations.

5. Look Outside the IT Department for Tech & Digital Skills

Technology advancement means departments across the organization—and across sectors—have become breeding grounds for addressing the IT skills shortage. In fact, according to Gartner, almost 40% of job postings for talent with digital skills come from outside of IT departments. The explosion of FinTech, MarTech and even HRIS means that there’s a plethora of digital talent in finance teams, marketing teams and HR teams. So, instead of looking for a data scientist, why not try tapping a financial analyst to get those much-needed analytical skills?

How an RPO Partner Can Help You Secure Tech and Digital Skills

Employers looking to grow their tech and digital workforce can benefit from the services of a recruitment process outsourcing (RPO) provider. Your RPO partner can help you adapt your attraction strategy to resonate with candidates with tech and digital skills, ensuring that you are sourcing talent with the required skills and identifying new ways to target candidates who fit these personas. Plus, an experienced RPO provider can assist you in building your talent pool from within your own organization, by consulting to develop an internal reskilling program.

Get five proven strategies to attract, engage and hire the best tech professionals. Download our Recruitment Handbook for Hiring Tech & Digital Talent.

The Recruitment Handbook for Hiring Tech & Digital Talent

Posted on June 13, 2023July 4, 2024 by akessler

The Recruitment Handbook for Hiring Tech & Digital Talent

5 Strategies for Recruiting the Best Tech Talent Now and into the Future

Today, every company is a tech company as organizations across sectors create digital customer experiences, embrace automation and AI, and analyze the data created through these platforms. In fact, 6 out of 10 of the most in–demand skills are tech-related.

However, according to Gartner, a third (36%) of HR leaders say their sourcing strategies are insufficient for finding the skills they need. So, how can talent acquisition leaders keep up with the demand for tech and digital talent?

In this handbook, you’ll learn:

Global trends driving the need for tech talent
Strategies for overcoming challenges in your tech hiring programs
How partnering with an RPO provider can help

Candidate Experience Survey Best Practices: How to Ask for Candidate Feedback

Posted on May 25, 2023June 27, 2024 by akessler

Asking for candidate feedback is your best resource for improving your candidate experience and a crucial step for creating a strong employer brand. Yet, in our research report, Inside the Candidate Experience, we found that 44% of organizations did not provide an opportunity for candidates to give feedback through a candidate experience survey.

In an HRO Today and PeopleScout global survey, employers reported significant challenges in capturing candidate feedback, with many saying that a top struggle is having “no formal way to capture candidate feedback.”

This is a missed opportunity. To truly improve your candidate experience, you must ask your candidates what they think and make improvements based on their input. If you’re not leveraging candidate survey tools to gather feedback from your candidates, you are passing up valuable insights that can help you improve your employer brand, lower attrition and shorten your hiring cycle.

Why is Candidate Experience Important?

As consumers, our expectations are soaring. We demand that brands deliver seamless, intuitive and personalized experiences to keep us engaged. In the fight for talent, the same rules apply.

Competition in the labor market and the increased demand for both diverse talent and digital skills means that coveted candidates have more options than ever before. They can afford to be picky, holding out for the employer that engages and inspires them during the recruitment process.

It’s easier than ever for job seekers to broadcast their impressions of your brand. In fact, 83% of candidates share their poor experiences with friends and family, with 54% taking to social media to voice their discontent—and that has major ramifications for your employer brand.

For 78% of candidates the overall candidate experience is an indicator of how a company values its people. Plus, candidates are also consumers, and a poor candidate experience can impact whether you retain an applicant as a customer.

Candidate Experience Survey Questions

If you’re serious about improving your candidate experience, the best way to source ideas is through your talent audience. Introducing a candidate experience survey is a must for any organization that wants to secure top talent. These insights are invaluable for identifying areas of improvement and can help you prioritize your candidate experience optimization projects.

When it comes to measuring the candidate experience, NPS has become a popular metric.

Net Promoter Score, or NPS, began as a way for organizations to measure customer satisfaction and loyalty. By asking one question—“On a scale from 0 to 10, how likely are you to recommend this product/company to a friend or colleague?”—organizations can gauge which customers are promoters, and which are detractors. The NPS scale ranges from -100 to +100, and the higher the score the better.

candidate experience survey candidate nps

By applying this same concept to the candidate experience, a Candidate Net Promoter Score, or CNPS, becomes a benchmark with which to measure your candidate experience. It’s best practice to also include a place for candidates to provide additional thoughts and comments, so you can gather both quantitative data and qualitative data.

By asking one simple question and the candidate’s reasoning for their rating, you can gather valuable data to drive continuous improvement in your candidate experience. Measuring CNPS over time will show how your talent acquisition investments are impacting your overall recruitment outcomes.

When to Send a Candidate Experience Survey

Consider adding a candidate experience survey email to your CRM after critical stages in your recruitment process, like:

After the completion of an application
After the completion of an assessment center
After the completion of an interview
Upon rejection
All of the above

Asking for feedback should be a priority regardless of outcome for the candidate.

Creating a Feedback Loop

Remember, when it comes to feedback throughout the recruitment process, it’s a two-way street. Employers should be equally committed to soliciting feedback from candidates about their experience, and providing feedback back to candidates, particularly to those who advance further into the selection process. Providing opportunities to give and collect feedback throughout the process will provide you with valuable insights and offer an engaging candidate experience, ultimately improving your recruitment outcomes.

To get the full research and more actionable candidate experience insights, download the Inside the Candidate Experience 2023 Report.

The Multigenerational Workforce: Gen Z in the Workplace

Posted on May 19, 2023June 27, 2024 by akessler

To continue our series, The Multigenerational Workforce, this article explores the challenges and opportunities of Gen Z in the workplace. For the first time in modern history, four generations are working side-by-side: Baby Boomers, Gen X, Millennials and Gen Z. The ratios will change over the coming years—and so will each group’s level of influence.

Gen Z is overtaking Baby Boomers as the largest generation history, boasting an incredible two billion people globally, and is set to become the largest demographic in the workplace by the end of the decade. Leaders must not underestimate the impact this generation’s ideas and perspective will have on the world and the workplace. By understanding their needs and preferences, you can attract, engage and hire the best Gen Z talent to propel your workforce into the future.

Who is Gen Z?

While sources vary, Gen Z is generally defined as the generation born approximately between 1995 and 2010. They are the first generation to grow up with the internet and social media and have come of age in a time marked by 9/11, polarized politics, economic fluctuations and climate woes. They watched their parents lose jobs during the Great Recession. Then, they experienced the biggest educational and workplace disruption in modern history as COVID-19 lockdowns led to their classes moving online, a surge in unemployment and psychological distress.

As voracious consumers and creators of digital media, they focus on curating their online presence and have developed an “unapologetically me” ideology. As a result, they are generally socially progressive and value diversity.

Perhaps ironically, growing up in this hyperconnected online world has also fueled feelings of isolation and loneliness among many Gen Z-ers. Seeing friends posting content and having fun (cue the #FOMO), alongside the pressure to keep on top of social trends, can make the feelings of disconnection even more acute, leading to increases in depression and anxiety.

What Matters to Gen Z in the Workplace?

Gen Z-ers have different expectations and priorities than previous generations of workers. They’ve expressed less loyalty than past cohorts and are more pragmatic. They don’t assume they’ll have a social safety net upon retirement since seeing layoffs and pensions shrinking.

Here are some more characteristics to look out for when hiring Gen Z candidates.

Fighting for Social Change

After witnessing the #MeToo and Black Lives Matter movements as well as the increased frequency of natural disasters due to climate change, Gen Z is seeking employment that matches their personal values. They believe in their ability to make a difference individually and are also demanding that employers do their part to help build a better future.

LinkedIn released a global study of nearly 10,000 professionals which found that 68% of workers in the UK, France, Germany and Ireland consider it important to work for companies that are aligned with their values. In the U.S., it’s higher at 87%. Gen Z is driving this shift, with nearly 90% in Europe saying they would leave a job to work somewhere that better matches their values.

Digitally Native but Digitally Unsure

Growing up with access to the internet and mobile devices has led to a widespread presumption that Gen Z-ers are innately good with tech. However, new research shows this may not be the case at work.

One in five of the 18-to-29-year-olds polled in HP’s Hybrid Work: Are We There Yet? report said they felt judged when experiencing technical issues in the workplace. Furthermore, this “tech shame” leads 25% of young professionals to actively avoid participating in a meeting if they think it will expose their tech shortcomings.

Generation Disenchanted?

Much has been said about the number of older workers taking early retirement, but the biggest rise in inactivity since the pandemic has not been among Baby Boomers, but workers aged between 18 and 24. In the UK, the share of workers in this age group classed as economically inactive—meaning they’re not actively working or looking for a job—stood at a record high of 32% in the second quarter of 2022. Plus, of those who are students or currently unemployed, 1 in 10 said they never intend to start working.

In a rejection of the “girlboss” and “hustle culture”, the hashtag #IDontDreamOfLabor has taken off as a platform for Gen Z to speak candidly about their rejection of work as the basis for identity, framing it instead as a financial necessity for paying the bills. In the shadow of the Great Resignation, Gen Z is vocal about the role of work in their lives—sometimes to viral acclaim. Some have taken to TikTok to coach their peers on how to negotiate salaries, which red flags to look out for in the interview process and how to stick up for what they want at work.

The formative experience of the Great Recession combined with entering the workforce during the pandemic has taught young people that hard work doesn’t necessarily guarantee stability. They want better than what their parents had and aren’t shy about demanding more from their employers. Organizations who can navigate these expectations will win the hearts of Generation Z.

Strategies for Engaging Gen Z at Work

To help Gen Z workers become as productive and successful as possible, employers need to showcase their values and offer a combination of ongoing wellbeing support and robust skills training.

1. Evaluate Your Employer Brand for Gen Z

As most young people seeking employment with a company they can believe in, it’s important to build an employer brand that resonates with Gen Z values. In the recent global study, Inside the Candidate Experience, PeopleScout found that the top things Gen Z job seekers look for when evaluating a job are:

Mission and purpose

Flexible working and work/life balance

DE&I; Company culture (tied)

With mission and purpose as the top factor for Gen Z job seekers, it’s surprising how few organizations include this information on their career websites. On the sites we examined, we found an organization’s mission and purpose less than half (48%) of the time. This means that half of companies are passing up an opportunity to engage emotionally with their young talent audiences and assist prospects in understanding how the job they have applied for fits into that goal. Candidates won’t look at your open roles if they can’t identify your mission on your careers site.

2. Embrace Social Media

Despite concern over how much Gen Z-ers use and consume social media, it is their main way of staying connected, so it is imperative for employers to have a strong presence on social. Two-thirds of candidates use social media to research companies during their job search. Yet, a third of employers are not posting career related content (above and beyond job listings) to their social channels at least once a week.

Favorite social platforms for Gen Z include TikTok, Instagram and YouTube—so consider creating video content to engage talent from this generation. “Day in the life” videos are a great way to provide a realistic job preview and show early careers talent what it’s like to work at your organization.

3. Showcase Your DE&I Efforts

Diversity, equity and inclusion (DE&I) is a top consideration for Gen Z candidates when looking for a job, and they’ll be scrutinizing any employer to separate lip service from authentic DE&I action. When candidates from underrepresented groups are searching for jobs, the right job title might be enough to get them to click on a posting—but whether they actually apply is influenced by what they read and hear about how an organization treats its people.

Representation matters, and employers who showcase employees across a range of demographics show candidates that people from diverse backgrounds can flourish at their organization. Ensure your recruitment communications include voices and stories from underrepresented groups at all levels of the organization.

Employers should also strive for transparency with their diversity recruitment data and share any plans they have in place to shift the dial around representation. Then, when candidates from underrepresented groups encounter similar voices throughout the recruitment process, they’ll realize that not only are they welcome at the organization, but they’ll also have the opportunity to thrive and progress.

4. Offer Employee Mental Wellness Benefits

Growing up entirely in the digital age has undeniably had an impact on how this generation interacts with others. With fewer in-person exchanges, some 37% of Gen Z feels worried that technology weakens their ability to maintain strong interpersonal relationships and develop people skills. Living in a world of non-stop communication through apps and social media also contributes to mental health conditions like anxiety. The strain of modern living on mental health has been further exacerbated by the pandemic and lockdown life.

Gen Z-ers are proud advocates for mental health, sharing their experiences and removing the stigma around depression and anxiety. According to Cigna International Health’s 2023 survey of almost 12,000 workers around the world, 91% of 18-to-24-year-olds report being stressed. And they’re looking for support from their employer. A whopping 92% of university students say employers should offer mental well-being benefits, and more than a third (36%) are prioritizing those who do as they start their careers.

Employee assistance programs, employee resource groups and workplace mental health training are all ways employers are creating a culture that promotes mental health and wellbeing. Gen Z will be drawn to employers who are joining the conversation around mental health and creating a safe space to raise and address these issues.

5. Highlight Growth Opportunities for Gen Z

Worryingly, 37% of young people say their education did not adequately prepare them with the technology skills they need for their career. This digital native generation is lacking in the digital literacy most organizations need to fuel future innovation.

Gen Z is prioritizing employers who demonstrate investment in developing their employees’ skills and career paths. Employers who highlight training, mentoring and professional development programs in their recruitment materials will satisfy Gen Z’s ambition and desire to grow.

Training for new Gen Z joiners should center around soft skills like resilience, relationship building and empathy, enabling people from this cohort to manage their own stress levels effectively and to understand when and how they should ask for help. Face-to-face support and mentoring programs are a core elements of training for Gen Z in the workplace. Mentoring and reverse mentoring are being widely embraced by organizations across industries, enabling more senior employees to share their experience with the younger generation to counteract skills gaps, while also tapping into the knowledge and insights of Gen Z in the areas of social trends and digital media.

Gen Z in the Workplace: Embracing Positive Change

As organizations plan for the future of work, they must work harder to appeal to the savvy Generation Z-ers entering the workforce. While most employers understand the importance of inclusivity and ethical decision-making, this generation will hold them accountable to putting those principles into action. Employers must embrace these values and the positive changes brought by Gen Z in the workplace. Talent acquisition leaders should keep their finger on the pulse of how these young workers will shape how we hire and develop talent in the coming decades.

Check out our report to learn more about the future of work:

Future of Work

DESTINATION 2030: 10 PREDICTIONS FOR WHAT’S NEXT IN THE WORLD OF WORK

Read the Full Report

Conquering Top Challenges in Healthcare Talent Acquisition

Posted on May 9, 2023June 27, 2024 by epadmin

Conquering Top Challenges in Healthcare Talent Acquisition

In the past 5 years, the average hospital turnover has been 105% of its workforce yet the total median HR funding for healthcare organizations is around 1% of operating costs. There are serious consequences of inadequate staffing and declining investment in talent acquisition such as degradation of patient care, potential “failure to rescue,” as well as internal job stress and higher attrition rates that could be detrimental to the organization’s brand and bottom line.

In this ebook, we explore the top challenges in healthcare recruiting, including:

Talent shortages
Advancements in talent technology
Evolving candidate expectations

Plus, you will learn how an RPO partner can help your organization overcome recruiting challenges in healthcare by applying expertise, experience, technology and innovative solutions to your talent acquisition program.

Employee Retention by the Numbers

Posted on April 17, 2023June 27, 2024 by banderson

Survey results from McKinsey and Company show that 40% of employees across Australia, Canada, Singapore, the UK and the U.S. are likely to leave their jobs. To that end, below are key facts and figures that illustrate the current state of hiring and how organizations can recalibrate to improve employee retention in 2023. 

Hiring Takes the Back Burner…

(Source: LinkedIn October 2022 Global Talent Trends )

…As Retention Takes Priority

Employers Don’t Understand Why Employees Leave 

More Important to Employees than Employers Appreciate:

Valued by organization
Valued by manager
Sense of belonging

Potential for advancement
Having caring and trusting teammates
Flexible work schedule

(Source: McKinsey & Company)

(Source: ADP Research Institute’s People at Work 2022: A Global Workforce View)
(Source: Microsoft Work Trend Index Special Report)

Flexible Work Matters 

64% of the global workforce would consider looking for a new job if they were required to return to the office full-time.  

52% of employees are even willing to accept a pay cut—up to 11%—to maintain flexible, hybrid work arrangements. 

(Source: ADP Research Institute’s People at Work 2022: A Global Workforce View)

Employees Crave Development & Growth 

Career progression is the No.1 pull factor attracting employees to new jobs. 

(Source: Achievers 2022 Engagement and Retention Report)

76% of employees would stay at their company longer if they could benefit more from learning and development support. 

(Source: Microsoft Work Trend Index Special Report)

Internal Mobility Makes a Difference 

Workers who have no visibility into internal career opportunities are 61% more likely to have plans to quit their job. 

(Source: Cornerstone People Research Lab and Lighthouse Research & Advisory 2023 Talent Mobility Study )

Employees who make an internal move are more likely to stay at their organization longer than those who stay in the same role.

Keeping the Human in Human Resources: 3 Employee Retention Strategies for 2023

Posted on April 17, 2023June 27, 2024 by banderson

After the last three years, there’s no doubt that we could all use a deep breath. But, with economic uncertainty filling the air, we haven’t quite reached a steady state. Instead, now’s the time to reflect on all that’s been learned throughout the last few years and recalibrate your strategies to better succeed in today’s reality. In fact, this work has already begun, with new research suggesting that talent acquisition is no longer a leading priority among employers. Instead, a focus on employee retention strategies takes the lead.

According to Lattice’s 2023 State of People Strategy Report, 40% of HR professionals surveyed said that talent acquisition was a top priority in 2021. By 2022, that number had dropped to 17%, with the surveyed professionals indicating that retention would be a leading priority over talent acquisition heading into 2023. Notably, this data tracks globally, as a recent Global Talent Trends report from LinkedIn highlighted decreasing hiring rates from 2021 to 2022 across a sample of 14 countries. 

During the current economic downturn, it’s clear that employers are looking inward at how they can retain their best people. So, how can your organization foster an environment where people don’t want to leave? Consider these three tips for increasing employee retention in 2023: 

1. Establish a Strong Sense of Purpose & Belonging 

According to a study from McKinsey and Company, the relational factors that are most important to employees—such as feeling valued and a sense of belonging—are often overlooked by employers who falsely assume transactional factors (such as compensation) are most important to employees.  

Consider these tips for establishing a sense of belonging with your employees: 

Train managers on how to have meaningful conversations with employees. 
Encourage managers to be invested in employees’ personal and professional aspirations. 
Make vulnerability a normal practice among leaders, managers, and contributors. 
Establish a strong DE&I program, complete with employee resource groups.

Along the same lines, there’s no better way to foster a connection to your organization than by recognizing employees who live your purpose in practice. Whether it’s via a team email, internal newsletter or social media post; identify employees who embody your organization’s purpose. They’ll feel valued, and others will be encouraged to find ways to integrate that purpose into their daily lives, as well.  

2. Maintain Flexible Work Options

The data is clear: Losing flexible work is not an option—not if you want to have any chance of retaining your people. According to a 2022 study from ADP, 64% of the global workforce would consider looking for a new job if they were required to return to the office full-time. What’s more, the survey also found that more than half (52%) of employees were even willing to accept a pay cut if it meant maintaining flexible, hybrid work arrangements. 

As such, it’s important to remember that flexible work doesn’t have to be all or nothing. Consider these options: 

Require two to three in-person workdays for all employees. 
Allow employees to choose which days they work from home. 
Offer atypical work hours — such as 8 a.m. to 4 p.m. or 10 a.m. to 6 p.m. — to accommodate employees with other responsibilities and interests.  
If possible, allow full-time remote work.

After determining which flexible work options make the most sense for your organization, remember to purposefully build opportunities for engagement among your remote or hybrid team. And, if your organization’s policies don’t allow much room for flexibility, be mindful of tying those policies back to the business. For example, rather than citing “productivity” as a vague reason for not allowing employees to work remotely, explain why collaborating in person will allow the business to better serve customers. 

3. Prioritize Development & Internal Mobility

Employees are hungry for growth and development. According to the latest Engagement and Retention Report from Achievers, career progression was the #1 pull factor attracting employees to new jobs. Similarly, new data from Microsoft showed that 76% of employees would stay at their company longer if they could benefit more from learning and development support. So, what can employers do about it? To start, don’t give employees a reason to look elsewhere for opportunities to grow their careers.  

By prioritizing learning and development (L&D) from day one, employees will feel like their career progression is being taken seriously. More precisely, consider mentorship programs, shadowing and skills training to invest in employees’ growth. Likewise, another critical component of retaining employees is internal mobility, which works in tandem with L&D.  

Research from LinkedIn shows that employees who make an internal move are more likely to stay at their organization longer than those who stay in the same role. For example, at the one-year mark, employees are 75% likely to stay without an internal move, while those who make a lateral move or receive a promotion are 87% likely to stay. This trend continues for each year an employee stays at the company. 

Treat People Like People 

At the end of the day, people want to be treated as just that—people. They crave connection, interaction and belonging—all things that were compromised by the seemingly overnight shift to more virtual work. Employers who understand the importance of relational factors over transactional ones will be the ones to retain their employees. And, those who are intentional about establishing a strong sense of purpose; fostering engagement; and creating opportunities for flexibility, recognition and development will emerge stronger with the most valuable resource —their people—intact. 

Workforce Planning: Applying What We’ve Learned to Drive Future Success

Posted on April 13, 2023June 27, 2024 by nfuqua

In the past three years, we’ve seen a talent market that has shifted more drastically and rapidly than we’ve ever seen. These weren’t the standard economic oscillations that take place slowly throughout many years—rather, this pace of change was something new and required talent leaders to spend the last three years fighting fires instead of focusing on workforce planning.

Now, it’s as important as ever to be more intentional about our strategy as we ask, “What’s next?”

Taking Time to Reflect

As talent leaders, we’re no strangers to the Great Rehire, quiet quitting and the Great Resignation—it seems at every turn, we are learning about a new workforce movement. At PeopleScout, we feel the real value comes not from labeling the next talent trend, but in doing the work to help employers struggling with today’s very real talent obstacles and developing custom solutions to address our clients’ unique talent challenges.

Right now, there is an opportunity to take a look back at everything we’ve learned from our experiences over the past three years and apply those lessons to our talent programs to drive continued success. It’s time to change strategies, rewatch the tapes and recalibrate our approach to meet whatever challenges the future holds.

So, where do we go from here? We step back, take a breath and reflect, then take action by challenging the status quo.

In this article, we’re going to outline many of the different lessons learned, as well as opportunities for you to revitalize your own workforce planning.

The Economic Reality

While the global economic landscape continues to fluctuate, the pace of change has decelerated. In the U.S., most economic indicators give a mixed picture: some companies have made headlines with layoffs, but job growth in other industries has remained strong. What’s more, monthly jobs reports still show strong hiring numbers and economists have seen positive signs around inflation.

At the same time, we’re starting to see a bit of “gas pedal, brake pedal” as talent leaders try to read the tea leaves of the economic picture amid these mixed signals. While employers across some industries are still hiring, the pace has slowed from the height of the Great Rehire.

Globally, we’re seeing the setup for similar environments. In the UK, job vacancies have fallen from their 2022 high, but still remain far above average with a shrinking labor force; however, issues like high inflation, rising wages and worker strikes persist. And, in Australia, the unemployment rate remains at a very low 3.5% and our clients are seeing a tighter applicant pool.

These are certainly challenges to contend with, and the best way to move forward is with a quick glance back.

Opportunities for Adjustment with Workforce Planning

With large variances across countries, regions and sectors, the lessons learned and resulting transformations will depend on how the past three years have affected you.

Here are the five main areas we recommend you prioritize as part of your workforce planning strategy enhancement.

1. Recruitment Process Improvement

The first place to start your recalibration is the recruitment process. Did the pandemic and Great Rehire introduce changes into your process? For example, many employers were forced to shoehorn their in-person hiring process into a virtual one through the pandemic and Great Rehire. If that was the case at your organization, does that process still work, especially for your remote and hybrid employees?

This is one of the biggest opportunities for talent leaders to connect with their teams to understand what worked and what didn’t. Your team members have built up so much knowledge on the ground working through the challenges of the last three years. How can you harness that going forward?

Similarly, take a step back and look at the data you’re using to define success with your recruitment program. Are you hitting your goals, but still feel like something is missing? If so, you may be looking at vanity metrics, as opposed to sanity metrics. There’s always room for improvement; you just need the right data points to identify it.

In this case, consider bringing in a recruitment process outsourcing (RPO) partner. A partner can help with any future scaling up and down as your hiring needs change, but they also provide value in helping benchmark your progress and success. For instance, the most frequent questions we get from clients during our routine business reviews with them are around what other employers are doing. What technologies are out there? What innovations have been made? What suggestions do you have? Without an RPO partner, you miss out on that insight.

2. Employer Brand

There has probably been more discussion about employer brand during the last year and a half than ever before, and this has been driven largely by the change in workforce and candidate priorities. During the Great Resignation, employees left for perceived greener pastures. To that end, it’s important to understand what you did right and where you may have let employees down during the last few years. In particular, there’s an opportunity to talk to the people who stayed with you to understand what kept them at your organization through some difficult years. Then, you can apply those lessons to your employer value proposition. In fact, if you haven’t updated your employer value proposition and employer brand since before 2020, you’re behind the curve.

Outside of the pandemic and recovery, the growing influence of Gen Z in the workplace has also influenced employer brands. Our research shows that Gen Z—more than any other generation in the workforce—says that your mission and values, company culture, and diversity, equity and inclusion initiatives influence their decision to apply. With that in mind, does your employer brand reflect the changing values of the workforce?

3. Candidate Experience

The world has fundamentally changed in the last few years, and so have candidate expectations. Specifically, we’ve seen a shift toward the need for a consumer-like candidate experience in recent years, and it has only accelerated. As consumers, we’ve grown to expect even more convenience. In 2020, many of us expanded our use of services, like grocery pick-up and delivery. We order our coffee with an app so we don’t have to wait as it’s made. Even as the pandemic receded, many of us kept up with these conveniences. Candidates expect a similar experience when it comes to finding and applying for jobs.

In the same vein, when was the last time you evaluated your candidate experience? Have you taken on the task of simply applying for a job at your organization to see the experience through the candidate’s eyes? Did you make compromises in the depths of the pandemic or the chaos of the Great Rehire? Or did you implement tools—like on-demand video interviews or automated text message screenings—and discover that they reduced candidate fall-out? In any case, it’s probably time to recalibrate your candidate experience.

PeopleScout recently released research around candidate expectations and candidate experience best practices. Read our three most important takeaways.

4. Retention

The Great Resignation forced employers to renew their focus on employee retention, and it has definitely had an influence. According to HR Digest, employers that invested in employee development saw a 58% increase in retention in 2022. Beyond employee development, many organizations have also made their moves to remote, hybrid and flexible work permanent.

In 2023, we expect the pace of turnover to slow down for many employers. That’s because the changing economic landscape has left candidates less confident in their job searches, according to CNBC. As such, we anticipate more workers will place greater value on stability after several turbulent years.

As you look at your own program improvements, the employees you retain will be valuable assets as they’ve learned the key lessons firsthand. They’ve stayed with your organization and adapted through the changes of the past several years. They know your company better than anyone. What can you do to provide benefits like work/life balance, professional development and wellness?

5. Optimizing Technology

Finally, take a look at your technology. Many employers quickly added new recruitment technology solutions in 2020 to support remote recruitment during lockdown. If that was the case at your organization, are those tools optimized for your current needs?

When it comes to improving your recruitment program, your technology is one of your most important tools: Your recruitment tech stack likely affects every one of the other opportunities for enhancement that we’ve highlighted. With machine learning and artificial intelligence, we can learn from the history of candidate behavior. The right tools can then help recruiters prioritize interactions with candidates and automate communications to candidates in your recruitment funnel. Similarly, the right technology can also make your recruitment process more efficient; help you more effectively share your employer brand; improve your candidate experience; and provide benefits for current employees. If you’re reevaluating your talent acquisition strategy, technology needs to be a part of the conversation.

Lessons Learned

During the last three years, many of us have spent so much time dealing with the present that there hasn’t been an opportunity to think about the future. That said, we have learned the value of scheduling time to focus on what’s next; over and over again, we’ve seen the importance of being nimble. With that in mind, we’re encouraging our clients to think about the elements discussed above and identifying ways that PeopleScout can help them meet their talent needs. So, I urge you to take the time to think about how you can adjust your talent program for whatever the future brings.

PeopleScout Releases Q2 2023 Issue of PeopleScout NEXT

Posted on April 11, 2023June 27, 2024 by akessler

Latest issue provides research-based insights and practical actions to help employers build a more resilient talent acquisition program

CHICAGO – APRIL 11, 2023 – Today, PeopleScout released the Q2 2023 issue of its award-winning PeopleScout NEXT magazine, which provides actionable insights on the rapidly changing talent acquisition, talent technology and workforce management landscape.

The past three years have seen the depths of pandemic job losses and a talent market that has shifted more drastically and rapidly than before. While talent market and economic complexities remain, employers now have an opportunity to reflect on the lessons from the past few years and apply those learnings to hone their recruitment strategies to meet the demands of today’s market.

This edition of NEXT includes research-based insights and practical actions to improve recruitment outcomes and build a more resilient talent acquisition program to ensure future success.

In the issue, talent acquisition leaders will find:

A guide for applying the lessons learned over the past few years to their current talent program
Exclusive, data-driven insights about what candidates want out of the recruitment process and how the right technology can make it happen
How to keep the human in Human Resources by understanding what is driving high turnover and tips for turning it around
Real-life examples demonstrating how employers can recalibrate and transform their talent program
A roadmap to prepare your talent program all the way to 2030

PeopleScout NEXT began publication in 2018 and has received numerous awards for its content and design. In February 2022, PeopleScout NEXT was named a Gold winner in the 2022 AVA Digital Awards for its Q3/Q4 2021 issue. In October 2020, PeopleScout NEXT magazine was named a Gold winner in the Publication, Magazine category in the 2020 MUSE Creative Awards competition. This win followed two 2019 MarCom Awards: Platinum in the Print Media – Writing category and Gold in Print Media – Design for PeopleScout NEXT.

Access the Q2 2023 issue of PeopleScout NEXT today at www.peoplescout.com/next

About PeopleScout NEXT
NEXT is PeopleScout’s bi-annual publication covering an expansive array of talent acquisition and workforce management topics and technology trends, designed to provide readers with the knowledge they need to go from advice to advantage. PeopleScout’s audience is focused on what’s next—the future of work, impending skills shortages and technological advances. The goal of PeopleScout NEXT is to provide talent leaders with both the big ideas and small steps they can take today to make sure they are set up for future success. You can access the latest edition of PeopleScout NEXT here.

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PeopleScout Jobs Report Analysis—March 2023

Posted on April 7, 2023 by nfuqua

U.S. employers added 236,000 jobs in March, a slowdown from the start of the year. This shows a gradual cooling of the labor market that experts have wanted to see. The unemployment rate fell slightly to 3.5%. Year-over-year wage growth fell to 4.2%.

The Numbers

236,000: Employers added 236,000 jobs in March.

3.5%: The unemployment rate fell to 3.5%.

4.2%: Wages rose 4.2% over the past year.

The Good

As the Wall Street Journal reports, March’s report shows that the job market is starting to cool after a very strong start of the year. This is what officials at the Federal Reserve have been hoping to see as they’ve increased interest rates in the hopes of slowing hiring, wage growth and inflation. The most recent numbers also show a decrease in wage growth, though some industries, like leisure and hospitality, are still seeing rapidly rising wages. The leisure and hospitality sector led wage growth again last month, followed by education and health services.

Additionally, more workers entered the workforce in March, boosting the participation rate for Americans considered in their prime working age to the highest level since 2001. The overall labor force participation rate rose to 62.6%, the highest rate since February 2020.

The Bad

The most recent report is starting to show the impact of recent layoffs. As the New York Times reports, several of the industries most impacted by borrowing costs shed jobs in March, including financial services, manufacturing and retail. This is difficult news for workers as we have also seen increases in unemployment claims over the past several weeks.

The Unknown

March’s jobs report does not reflect the impact of the failure of Silicon Valley Bank as the numbers reflect trends at the beginning of the month. The fallout will begin to show up in the revisions to March’s numbers in April’s report.

Additionally, the big question for experts is whether or not this cooling will be enough to slow the pace of rate hikes at the Federal Reserve. As MarketWatch reports, the slowdown is good news, but it may not be slow enough for officials. The Fed next meets May 2-3.