A recent survey conducted by talentRISE, a Chicago-based management consulting company focused on recruitment, found that companies are investing more in developing different candidate sourcing strategies, in implementing employee branding initiatives and in changing the structure of their recruitment function.
When asked, “Compared to three years ago, how are you investing time and resources in the following to address your company’s or your clients’ strategic recruiting needs?”, survey participants ranked those three responses higher than other options, which included strategic workforce planning, assessing rewards/compensation and evaluating outsourced recruitment options. (See chart)
Given the challenges faced by corporate recruitment functions, it’s not surprising that hiring the best talent as quickly as possible and addressing hiring spikes are among the most common challenges, said Carl Kutsmode, managing partner at talentRISE. “Hiring better people faster is, and has been, the age-old concern of all organizations, particularly in our knowledge economy where talent is the major force for competitive differentiation,” Kutsmode said. “We have seen a similar trend with clients who are investing more in new or different sourcing strategies that integrate well with social media. Companies are also spending more on analytics tools to help them measure ROI as well as provide insights into better ways to allocate marketing dollars to boost their employer brand.”
As far as why companies are investing in changing the organizational structure of their recruitment function, Kutsmode believes that many organizations are still re-calibrating their resources post-recession to best fit their hiring needs. “We are certainly seeing an uptick in the number of clients asking us to objectively assess their current recruiting model to see whether it will support their future needs,” he said. “As companies are once again hiring, the time is right to seriously consider how to strategically rebuild a new, efficient, scalable and cost-effective recruiting function to compete more effectively in quickly attracting, engaging and recruiting the best, quality talent.”
The talentRISE survey also focused on how companies intend to direct their resources in their efforts in talent acquisition technologies and tools including applicant tracking systems, onboarding and social and career websites. Additionally, the survey gathered data on several other aspects of recruitment including the process itself and the recruitment professionals responsible for implementing that process.
A note on the respondents: The data was collected from over 60 respondents. Nearly half (49%) of respondents identified themselves as recruiting professionals, followed by HR professionals (17.5%); the remainder identified themselves as sales, 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.com.
ABOUT talentRISE LLC
talentRISE is a Chicago-based talent management consultancy and recruiting firm, helping companies achieve sustainable competitive advantage through talent. As talent management consultants, the firm partners with clients to help them assess, align, optimize, outsource and/or transform their HR systems, processes and strategies in order to best support changing business needs. As executive recruiters, talentRISE provides cost-effective, project-based contract recruiting or retained executive search support and scalability to our clients’ internal recruiting capabilities-often during unexpected (or planned) hiring spikes related to M&A, business expansion, growth, or other corporate transformation/change initiatives.