This is part of a special advertising section focusing on the talent management outlook.
From technology advancements to a fluctuating economy, the pace of change in today's recruiting environment is staggering. With a surplus of talent solutions on the market today, the buzz surrounding the latest and greatest products continues to create noise in the industry. As HR executives explore new opportunities, the importance of finding the right solution to sustain their future talent strategy is more important than ever. In order to cut through the clutter and determine the best approach, HR executives should consider the following when evaluating future prospects.
When it comes to recruitment technology, today's organizations have plenty of options, but purchasing the right system has increasingly become a daunting task and recent consolidations among large providers have made the decision-making process even more challenging. With the complexity and cost of these systems compounded by the speed of change, the notion of outsourcing the ownership of technology has gained momentum among organizations partnering with outsourcing providers.
Outsourcing the ownership of technology enables organizations to utilize and keep up with the latest and greatest without the burden of ongoing updates and changes that are managed by the service provider. Bundled in with additional outsourcing services, the technology can often be offered at a significantly lower cost. This, in turn, frees up recruiting dollars to redeploy among other vital recruitment methodologies, which can ultimately maximize spend across the board.
Without a doubt, social technologies are changing how companies hire. However, many organizations create social platforms that result in little or no traction. Today, social media is viewed by many as the "Holy Grail" of passive-candidate recruiting, but an effective social-media strategy requires significant expertise to navigate and maximize the candidate outcomes, something that many organizations lack. To be totally effective, companies must have adequate resources to interact daily with the numerous channels and candidates that are available. Continuous updating of social content is also key to evolving a recruiting brand and content has to be rich or it will be ignored and discounted by candidates.
While social recruiting has proven to be highly effective for certain audiences and demographics, it's not the be-all, end-all. It's vital to continue investing in other recruitment channels and fully understand where the talent is. While social-recruiting solutions may be the golden goose of recruitment tools right now, it's important to remember that referrals and direct sourcing still drive proven results.
Over the years, recruiting metrics have changed significantly. Gone are the days when cycle time, costs and sourcing data were sufficient. Today, it's vital to re-evaluate the factors that drive business success and determine the actionable data worth measuring. Trends such as integrating recruiting with performance data as well as predicting passive candidate availability and movement are becoming essential to forecasting and workforce planning.
As pressures to create improved efficiency and cost savings continue to escalate, the stakes become even higher for leaders to predict availability, costs and market readiness of their organization. This is further reflected in the growing popularity of new analytical software specific to recruitment and HR. Having a dedicated analytical resource with the ability to continuously fine-tune reporting can be an effective way to stay on top of the constantly changing needs of HR executives.
As the rapid change of today's recruiting landscape continues to escalate, the evolving marketplace of talent acquisition tools and solutions will only multiply and many organizations may find it increasingly difficult to manage on their own. Today, recruitment process outsourcing has become a viable option for many of the world's leading companies due to its ability to remain a true expertise in evolving solutions, thus helping organizations build and maintain recruitment expertise.
RPO partnerships help ensure companies stay strategically competitive by managing the hiring process, creating and executing innovative recruiting strategies, and helping to reduce cost and boost quality of hire. Clients also benefit from expert knowledge, best practices and cutting-edge technology without the significant internal investment.
Regardless of strategy, it's vital for HR executives to take the time today to determine the right talent-acquisition solution for tomorrow. Enterprises committed to understanding and managing the evolving talent landscape may see considerable payoff to their bottom line, help increase their competitive edge and further impact their brand as an employer of choice.