Global Talent #7
Global Talent #7
How Ex-Employees Often Remain Untapped Resources and Why Recruiters Must Collaborate with CFOs to Improve Financial Performance
How Can Companies Balance Cost-Cutting with Effective Talent Acquisition in the "Great Hesitation" Era?
Jake Zabkowicz | Forbes | September 17, 2024
The job market is experiencing a significant shift, moving from the "Great Resignation" of the pandemic era to what's now being called the "Great Hesitation." This change reflects a cooling labor market where employers are regaining the upper hand in hiring dynamics. The use of talent intelligence emerges as a crucial tool in this new era. Companies can make more informed decisions about their workforce needs and streamline their recruitment processes by analyzing market trends and candidate behaviors. This data-driven approach can lead to significant cost savings and improved talent retention. Strategies, such as offshoring, could reduce costs but may raise concerns about job displacement domestically.
Are Ex-Employees the Untapped Resource Your Company Needs to Thrive in Today's Job Market?
Geri Tucker | SHRM | March 19, 2018
Companies are increasingly recognizing the value of maintaining relationships with former employees. This shift in perspective has given rise to the concept of "alumni networks" - programs designed to keep ex-workers engaged with their previous employers. The trend, which began in professional services firms, has spread to various industries, including technology, finance, and even nonprofits. With workers changing jobs more frequently than ever before - Millennials averaging a job change every 2.8 years - companies are adapting to a new reality. These alumni networks serve as a pool of potential rehires, brand ambassadors, and even future business partners. Rehired employees, often called "boomerang employees," tend to onboard faster and stay longer in their positions. They bring valuable competitor intelligence and often return with enhanced skills and broader expertise.
Talent, Training, and Transparency: Building Resilient Companies in the Scale-up Era
TalentXChange Podcast | March 20, 2024
An insightful podcast from a seasoned Learning and Development expert that emphasizes the importance of authenticity in shaping organizational culture. The podcast talks about how companies should focus on honestly portraying their current state rather than presenting an idealized version of themselves. This approach not only attracts talent that aligns with the company's true values but also fosters trust and transparency within the organization. As companies grow, they often struggle to maintain their initial culture and values while diversifying their workforce. Experts advocate for a more nuanced approach to hiring and development, suggesting that companies should be willing to invest in potential rather than always seeking the perfect candidate.
Can Virtual Reality Interviews Bridge the Gap in Remote Team Building for Tech Companies?
Dmytro Spilka | Entrepreneur | August 20, 2024
The AI in recruitment market is projected to reach $1.05 billion by 2032, indicating significant growth in this sector. Emerging technologies are revolutionizing international talent acquisition for SaaS companies. AI-powered natural language processing is breaking down language barriers, allowing firms to accurately assess non-English speaking candidates. Generative AI is streamlining the screening process, quickly identifying top candidates while reducing unconscious bias. This enables SaaS companies to tap into broader, more diverse talent pools globally. Virtual reality is enhancing remote interviews, offering more immersive experiences to evaluate candidates' cultural fit and intangible qualities. These technologies are particularly crucial for SaaS firms facing talent shortages and skill gaps in their domestic markets.
6 Critical Metrics That Drive Financial Performance in Recruitment Strategies
Christine Nichlos | CFO | May 7, 2024
In today's competitive business landscape, the partnership between CFOs and CHROs is becoming increasingly critical. A recent analysis sheds light on 6 key talent acquisition metrics that can significantly impact a company's bottom line. From the time it takes to fill a position to the quality of new hires, these metrics offer a window into the efficiency and effectiveness of recruitment efforts. Interestingly, many companies still struggle with measuring these metrics accurately, often falling into the trap of focusing on vanity metrics that don't truly reflect the hiring process. The article suggests a practical approach: start with available data, benchmark against competitors, and embrace new HR technologies. Perhaps most intriguingly, it emphasizes the importance of strong internal communication. After all, even the best metrics are useless if they're not understood and acted upon by all stakeholders.
