In the world of talent acquisition, the last few years have been… well, interesting.
We’ve swung from panicked pandemic layoffs to ‘oh, perhaps that was a knee-jerk reaction’ re-hiring – and lurched wildly through every layer in between.
Somewhere along the way, we saw The Great Resignation and then the quiet quitters (whoever they are) began their silent protest.
The world turned upside down.
So, where does that leave us now?
Our recent webinar (watch for yourself here!) explored the current state of the talent market and where it might go in the coming years.
We were joined by panellists Jess Dunham, Toll Group’s head of talent acquisition for Australia and New Zealand, and Sarah Piper, founder and director of Invisible Partners, along with our wonderful host Matt Woodard.
Together, we had a fascinating – and incredibly valuable – discussion, and we’re here to give you the highlights!
Read on to find out the best strategies for sourcing talent, and a few things to think about for future recruitment. Discover what’s on the cards for 2023, and how you can compete for talent in a market of empowered candidates.
Let’s talk about successful sourcing strategies
The current talent market – according to Jess – is best described as turbulent.
Low unemployment and, consequently, no spare capacity means its tougher for recruiters to source the right talent.
The truth is: there’s no silver bullet strategy here. But Sarah and Jess shared a few fundamentals they found useful in 2022.
Source talent internally, rather than externally.
“What I’m finding is that we’re starting to all fish with the same bait in the same pond,” says Jess. There’s no spare capacity in the market right now, and that can feel like a challenge. But what recruiters often forget to try is nurturing from within.
“We’re neglecting is our internal talent!” says Jess. “What we need to do is look at opportunities for greater internal mobility.”
Honour your team’s hard work and try sourcing from your current staff. You’ll increase loyalty among the crew – and may find some hidden gems in the bullpen!
Do the work – get good workers
If you company does decide to recruit from the outside, traditional, tried-and-true job channels definitely still work. However, both Jess and Sarah agree recruiters need to go above and beyond to connect with their target candidates.
“What has to pivot is the way that we engage,” says Jess. “I think you can teach a monkey to source. What you can’t teach it is to connect, and so, I still think that the focus needs to be on that connection and we need to as an industry do better with that.”
Keep your key audience in mind
Sarah believes connection means starting the recruiting process with your audience in mind.
To her, a great job ad with “bloody good” ad copy, a well-conceived campaign and focus on the company’s value proposition is vital.
Know (and use) your data
Both Jess and Sarah also mention that knowing your data is intrinsic to a successful recruitment campaign.
“I’m a massive believer in looking at conversion through the funnel because that, to me, tells you a story of how effective your connection or your campaigns or your strategy has been, and that gives you the opportunity to pivot really quickly,” says Jess.
What will recruiting’s ‘new normal’ be?
In the immediate future, the borders opening will have a considerable impact on the market.
With an influx of people comes an influx of talent, thus expanding the pool and potentially making it easier for recruiters to find suitable candidates.
Jess and Sarah believe that while there’ll be increased supply, recruiters will still need to adopt a human-centred focus, especially in terms of messaging.
Moreover, there will likely be an equalising of salaries across the market.
But Sarah says candidates will still largely be in control.
“I think, quite rightly, candidates are now able to dictate their terms much more than ever before,” she says. “I think it’ll equalise on salary, but not on every component of the employment proposition.”
What kind of changes should we expect in 2023?
The experts made it clear: emerging tech will be the biggest influence on talent sourcing.
While it certainly can’t beat the human-to-human connection essential to recruitment, automation will streamline many of the menial and admin-heavy tasks required by the job. Sarah adds that the increased availability of data and candidate intelligence will also help serve up the right talent.
But remember: no amount of fancy tech tools will take away the need for authenticity.
Jess sees genuineness and connection continuing to be some of the main challenges for businesses over the coming years, particularly where candidates are concerned.
“You need to know what the benefits of your organisation are, and then how do you then take that out to the candidate market in a way that resonates,” she says.
Sarah and Jess’ top tips?
- Crafting a really compelling CVP [candidate value proposition] and take that out to market. Candidates are still going to have the upper hand for a while, so think about how to make them buy into you as an organisation as opposed to your competitors.
- Approaching the market like consumers – think about it:
- Utilising the right channels to reach candidates – Where do your tribe hang out? Consider channels you could use – not just thinking about talent channels – and make sure your messaging is authentic and clear.
So, how should we approach recruitment moving forward?
It’s time to revise your role; and your mindset.
For talent acquisition professionals, it all comes down to:
- Managing expectations – in this new and turbulent talent market, it’s essential to understand that things are very different …even from a few years ago!
- Embracing education and new information – especially around new tech, and the supply vs demand issue of today’s market
- Be flexible – look beyond the must-haves in a role and think instead about transferrable skills
- Expanding your role – avoiding treating recruitment as a “transactional order” and shifting to a more advisory approach.
To hear more of our experts’ insights – watch the full webinar.
And remember: we’re here to help. If you have any questions or need advice, reach out to our team today..