- Posted by Vidcruiter
- On October 12, 2012
- 0 Comments
- applicant hiring system, automated hiring, future of recruiting, recruiting technology
There is immense pressure in sourcing good people today. Talent acquisition is beginning to be a core organizational activity that is directly associated with profitability. There is no denying that in the information age, talent matters. It is not only getting whoever is available. It is getting the perfect (organizational match) top caliber professional (job match) in the industry. There is no other way towards sustainable growth and profits.
The impact of talent shortage
Talent shortage is a global HR issue. It is not about the shortage of educated and willing-to-work individuals. The problem is a global mismatch of talent to available specialized jobs. Sourcing today takes a little more effort simply because hiring needs to find a way to justify new hires that do not perfectly fit the bill but can be trained to do the job anyway. This can translate to added costs on recruitment and placement. The trouble does not stop there. There is a higher chance of demotivation over time and this can affect performance and productivity. This will ultimately affect the profitability of the company one way or another.
Mismatches and profitability
This is rather an expansion of the first point above. Talent shortages simply make it almost impossible to find the best candidates for a specific job. This can mean higher rates of job and organizational mismatches – a more serious problem than getting below par employees. Let us explore that thought further. Organizations sometimes have bad hires. It is an inescapable reality. Sometimes these bad hires are under qualified applicants who were forced to the cut to satisfy job demands. But this a small hiring risk compared to getting qualified, top-notch applicants who simply do not fit right to the jobs given to them and the organization they work for. These people first of all are expensive to compensate and train, yet still fail to deliver expected output because of the glaring mismatch. There is simply no sound justification for this hiring blunder and it has deeper organizational implications.
What can be done in the midst of talent shortage and mismatches?
Organizations need to adapt to the reality that the nature of available jobs today is way different than a decade ago. Job descriptions must be studied more and job descriptions changed to be at par with the available workforce. Does this mean compromising workforce quality? Not necessarily. This simply means aligning the process of sourcing and pooling so that the organization will be able to maximize available human capital. By changing functional details of various jobs and its minimum qualifications, the organization will be more poised to accommodate more people and train them easily along the way. By being proactive to this hiring challenge, organizations can adjust their HR forecasts, customize their job offers, develop an OD initiative to improve integration of functions, and then realign their strategies and plans accordingly. Profitability does not have to be sacrificed over elements that can be adjusted and refined. There is always one more thing an organization can do to improve its situation.
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