Finding the right candidate in today’s competitive job market can be complex without a well-versed talent acquisition team. In HRE’s 2021 survey, 60 percent of company leaders cited recruiting and retaining workers as their top two challenges. This struggle has been heightened by the fact that several roles are in such high demand that employees now have the upper hand to choose their employer, not the other way around.
In such a scenario, finding the right talent acquisition specialists is paramount for any company looking to secure and retain top talent.
Why hiring experienced talent acquisition specialists is essential for your company
Today, companies are upping their game by allocating resources to developing innovative ways to source talent. In fact, 63 percent of companies plan on investing in AI solutions to optimize their hiring processes. While there are ongoing discussions about the ethics behind digital assessments, this statistic highlights a common pain point companies are facing: Traditional hiring methods are no longer cutting it.
Apart from leveraging technology, having the right talent acquisition experts has become a must-have for any company with global aspirations. According to iCIMS, job postings for talent acquisition positions have exploded, more than doubling since February 2020. Talent acquisition teams help employers:
- Find top quality hires: In a labor market where you have a job surplus, finding the ideal candidate for your open roles can be an uphill battle. The right talent acquisition specialist knows how to navigate a saturated market, develop rapport, create genuine connections with potential candidates, and, ultimately, hire the best employees for your team. According to a survey by PWC, 49 percent of respondents have declined a job offer because of a poor recruitment experience, so having a strong talent acquisition team to ensure the employee experience is flawless from the get-go is paramount to attract top talent.
- Foster a healthy organizational culture: Hiring is both a science and an art. Talent acquisition specialists not only have to find candidates with the technical expertise for the job, but they must also ensure new hires are the right cultural fit. Amidst what some have coined the “Great Resignation,” working alongside people that are emotionally aligned with your company will give you a massive advantage.Top talent acquisition specialists are aware of this and do their best to find individuals whose motivations and goals correlate with the organizational culture. Achieving this match decreases turnover rates and creates an internal culture that sets employees up for success.
- Increase productivity: Finding the right candidate for each of your openings can dramatically increase your output, shorten the learning curve for new hires, and speed time to productivity. The U.S. Department of Labor estimates that a bad hire can cost a company up to 30 percent of the employee’s first-year earnings. Luckily, the right talent acquisition specialists know how to find ideal profiles, and, in case turnovers occur, will do their best to obtain feedback and incorporate it to improve long-term retention strategies.
- Create a better onboarding experience: It is no secret that a positive onboarding experience is fundamental for new hires. Companies that implement a formal onboarding program see 50 percent higher employee retention rates among new hires and 62 percent greater productivity.Having the right talent acquisition team will impact the type of onboarding you provide. Talent acquisition specialists are brand ambassadors — they are the first point of contact candidates have with your company — so make sure your teams are prepared to make new hires feel comfortable and confident to get up to speed as quickly as possible.
Ignoring the importance of having top talent acquisition specialists by your side can have a trickle-down effect — resulting in low quality hires, high turnover rates, a decline in productivity, a poor onboarding experience, and an unpleasant work environment for employees. These specialists are the backbone of your company. Their role as gatekeepers makes them responsible for your company’s first impression, which should be positive even for candidates who don’t make it past the shortlisting process.
Richard Branson once said, “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” This famous adage becomes much more meaningful once you realize the importance of having a talent acquisition team to nurture your current and future employees.
How can Globalization Partners help?
Even the best talent acquisition specialists need digital tools and strategic allies to successfully transition a candidate from recruitment to hiring. Globalization Partners enables companies to hire anyone, anywhere, quickly and easily. Our AI-enabled, automated Global Growth Platform™ can help you grow and build your talent acquisition team.
Our platform is fully compliant with employment, tax, and licensing laws in 187 countries, and delivers in seconds what used to take months — allowing you to onboard the best talent in the world while minimizing costs and risks.
Contact us today or request a proposal.