TalentRISE Survey Reveals How Organizations Are Investing in Recruitment in Response to Greater Competition for Talent

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As organizations contend with a tightening labor market, a new survey conducted by TalentRISE shows that they are going "back to basics" by re-visiting their recruitment strategies, processes, people and technologies.

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Many companies are now strategically rebuilding their recruiting function to ensure that they can attract and hire the best quality talent before the competition.

A new survey by TalentRISE, a management consulting company focused on recruitment, and the Center for Research and Service at Illinois Institute of Technology finds that companies are responding to a shrinking supply of labor by investing in more dedicated recruitment resources, better technologies and tools and providing job candidates with an enhanced experience.

When asked about their recruitment challenges, 64% of respondents indicated “hiring better quality talent” and 51% said “hiring talent faster” are top concerns. This is not surprising, according to Carl Kutsmode, Managing Partner at TalentRISE, since recent data published by the Bureau of Labor Statistics shows that job openings are continuing to trend upwards at pre-recession levels. “Organizations recognize that talent is often their most important competitive differentiator. Our survey validates that businesses are, post-recession, keenly focused on getting the best talent hired as fast as possible," Kutsmode said. The survey also uncovers the many pragmatic investment priorities companies are now investing in, including: enhancing their candidate sourcing strategies, infusing on-line recruitment strategies with Search Engine Optimization (SEO), upgrading Applicant Tracking Systems (ATS) and focusing on metrics such as candidate satisfaction. A significant number also say that they are investing in the organizational structure of the recruitment function which may entail establishing new roles and/or providing more training for recruiters.

Kutsmode believes that the survey results prove that many organizations are still re-calibrating their resources post-recession to best fit their hiring needs. “As companies are ramping up their hiring needs, they are now facing much stiffer competition for the best candidates than a year or two ago. That’s why we think so many are strategically rebuilding their recruiting function to ensure that they can attract and hire the best quality talent before the competition.”

The TalentRISE/Illinois Institute of Technology survey gathered data on four areas of recruitment, including: (1) current trends with regard to planning, strategy, and tracking metrics, (2) technology/tools (3) recruitment processes and (4) practices utilized with regard to the people who are a part of the recruiting function. The survey closed with a section asking respondents about steps they are taking to prepare for future challenges.

A note on the respondents: The data was collected from over 60 respondents. Respondents largely identified themselves as recruiting professionals, followed by HR professionals. The remainder identified themselves as sales or operations professionals, recruitment contractors or executives. The industries represented included Professional Services, Healthcare/Pharma, Financial Services, Manufacturing/Logistics/Distribution, Information Technology, Retail/Hospitality and Non-profit. For a complete summary of the data, please email ckutsmode(at)talentrise(dot)com or follow this link.

TalentRISE is a Chicago-based management consultancy and recruiting services firm focused on helping companies transform their business through talent. As talent management consultants, the firm partners with clients to help them assess, align, optimize, outsource and/or transform their talent acquisition systems, processes and strategies in order to best support changing business needs. As recruiters, TalentRISE provides cost-effective, project-based contract recruiting or retained executive search support and scalability to clients’ internal recruiting capabilities–often during unexpected (or planned) hiring spikes related to M&A, business expansion, growth, or other corporate transformation/change initiatives.

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Carl Kutsmode
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