The advancements and speed of technological disruption are rapidly growing, and we should be doing everything in our power to embrace these transformations. While individuals and companies need to stay up-to-date with current technologies, they also need to be aware of the growing complexity of talent trends. Talent acquisition is an ever-evolving strategy and companies need to equip themselves with the most appropriate resources to stay ahead of the curve.
According to the Randstad Talent Trends research, which surveyed more than 800 human capital and C-Suite leaders in 17 countries about the current initiatives on talent acquisition, there were some eye-opening findings:
- 76% of companies that haven’t yet adopted a total talent approach plan to do so in the next 12 months
- 45% of companies are conducting diversity training to minimize unconscious bias and enhance inclusion in the workplace
- 72% are investing in people analytics to help them better acquire and manage talent, while eliminating inefficiencies and unnecessary costs
From this data, it’s evident that employers and leaders need to have a proactive approach to the transition involved between Baby Boomers and Millennials to attract and retain new talent and support an inclusive work environment. Employers should be rethinking their entire hiring strategy — adopting more flexible working arrangements, leveraging technology to manage a remote workforce, and investing in online collaboration tools, all of which can all help to bridge the talent gap.
Talent scarcity is an issue most companies are facing if they continue to limit themselves geographically, under-resource, or stick to traditional working models. We are living in the digital era where the internet is one of the most important factors of transforming business practices and in order for companies to thrive they need to adapt to this new hiring landscape.
What Can Employers do to Keep on-top of Talent Trends?
- Innovation creates better access to the right candidates: Get involved with a talent platform; 92% of the recent survey states that more companies “now believe the adoption of technology enhances the attraction, engagement and retention of talent, compared to 79% in 2016”. Partnering with talent communities opens the doors to find the specific skills for any project without geographical limits.
- Diverse teams drive better results: 51% of women leave the workforce due to rigid, inflexible working models. Incredible female talent is available worldwide, employers need to evolve with more flexible working arrangements allowing women to create their own work/life balance on their own terms.
- Champion an engaging work experience: Collaboration tools are key – companies that find creative ways to communicate and engage with their talent, are more likely to retain and receive new hire referrals from within their organization.
- Have measurable business impact goals: “83% say the goal of their talent strategy is to have a measurable impact on their business”. Having the right data available such as billable hours, project cost data is helping companies achieve greater workforce accountability, preventing overbilling and time-fraud. Workforce transparency will not only allow companies to monitor the work that is being done, but focus on growth strategies where there are talent gaps.
TransparentBusiness is the first online platform that leverages cloud technology, matching algorithms, machine learning, and data science to help companies source and hire vetted professionals globally while providing them with the tools to monitor, manage, collaborate, and pay their teams. Our technology ensures full data transparency – which today is more important than ever to drive trust, engagement and accountability.
Technology has made it easier and more convenient to manage a remote team, but has also given the means to empower talent to be part of an internet-enabled marketplace for work opportunities wherever they are in the world. A clear example on when in the age of digital transformation, everybody wins.