Why businesses need a more proactive approach to talent acquisition in 2023

In the recruitment world, the ‘Great Resignation’ gripped the landscape in 2018. The shortage of qualified candidates caused businesses to suffer. A war for talent was fought. This war is now over, and talent has won.

According to the Office for National Statistics (ONS), the UK unemployment rate for the third quarter of 2022 is 3.6%, the lowest in recent memory. Since the Covid pandemic, we’ve seen a rise of over 500,000 people leaving the UK workforce due to the cost of living. Huw Pill is the Bank of England’s chief economist. He warned that inflation, which was already on the rise, could continue to increase as a result of job market conditions, even after the impact of high energy prices has faded.

Recruitment and passive talent pools

Hiring managers must be proactive and agile in their approach to attracting candidates, as the talent pool is not growing. LinkedIn reports that 70% of the global workforce is passive, meaning they don’t actively search for new roles but may be convinced if given the right opportunity. This puts more pressure on employers to improve their recruitment process and make themselves attractive to potential employees. You may find that the remaining 30% of active candidates have many options and are not as well-suited to your position as their passive counterparts. Compare passive hiring strategies with active hiring.

Relationships with candidates are now a priority. Many businesses still view recruitment as a transactional process, even if it was only a few short years ago when the market was more candidate-driven. Many companies would ‘ghost’ candidates who were no longer useful due to the abundance of talent.

Candidates’ main complaint is poor communication during the recruitment process. The external perception of employers was never more important. You never know when a candidate who initially didn’t cut a position might be a good fit for another role. So, it’s worth keeping in touch with them.

Employee retention is a priority.

What is the best way to reduce the amount of time and money spent on recruiting talent? Invest in the retention of skills that you already have.

Communication is key. You can address issues earlier by simply communicating with your employees.

It will help to reduce staff turnover, but circumstances may still force people to leave. It will not be in vain if you can create a positive work environment that will encourage former employees to reflect positively on their experience with your company. It goes back to the external perceptions discussed above. People will check sites like Glassdoor to see what others think of your company before they join. The way people describe their experiences can have a big impact on how you attract talent.

What HR software can do for recruitment?

Did you know you can streamline the recruitment process with software? NaturalHR provides businesses with the tools they need to attract and retain top talent.

By Vicki

‘HR Shopper’ has a 10 years of experience in management and HR in top 2 global MNC’s. Understanding the employee needs as well as organization productivity she adopts the techniques that create perfect balance satisfying the needs of both.

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