Finding and keeping good talent has been a challenge for organisations since the dawn of the first Industrial Revolution – and it continues to this day. About 70 percent of respondents in Deloitte’s Human Capital Trends research cited recruitment as important, and 16 percent said it was one of three most urgent issues their organisations would face. This finding is no surprise, given that across every industry sector, talent acquisition and business leaders are struggling to hire talent that sticks. Retention strategies are often reactive, relatively scarce, and disconnected from organisations’ recruitment initiatives.
In a competitive talent market with a socially conscious and highly selective candidate pool, recruiting teams need to be more data-driven in order to keep up with organisational demand without sacrificing quality of hire. Talent acquisition must fundamentally reinvent its approach to hiring through a focus on accessing capabilities and optimising tools and technology. Yet, despite understanding this need, talent acquisition function is often resistant to experiment and change.
In 2020, the shifting focus will be the new imperative for the talent acquisition function. As enterprises evolve and adopt more data-driven approaches to talent selection and development, assessment technologies will become increasingly prominent. These innovations are long overdue, according to High-Impact Talent Acquisition research.
Recruiters are still wired to hire to one opening and then quickly move on to the next requisition without truly considering the potential downstream impact of these hiring decisions. Time-to-fill tends to win out over quality of hire, mainly because it’s easier to measure and claim success.
Based on High-Impact Talent Acquisition research, psychometric assessment will help bridge the divide between recruitment and employee retention. Psychometric assessments will empower talent acquisition teams to more fully evaluate talent prospects, helping them understand the whole person beyond the resume. These new tools can enable recruiters to assess unique human capabilities such as empathy and curiosity, as well as identify talent that is likely to fit well with an organisation’s culture and thrive in a particular context.
By leveraging science-based predictions, recruiters can reduce any potential for misjudgments in the screening process and begin to assemble an internal talent marketplace that is the right fit for both open jobs today and enterprise needs in the future. Organisations already recognize the impact of a bad hire, but in most cases, this is caught too late. With a keen focus on assessments in the early stages of talent pool development, recruiters will begin to uncover more about the behaviours and motivators of successful employees, and focus their efforts accordingly.
Organisations trying to stay competitive should incorporate assessments as part of the top-of-funnel sourcing process. With richer data and validated insights, talent acquisition functions can have the clarity needed to deliver an intentional and fully integrated talent strategy. Talent acquisition teams can fully optimise their impact by hiring the right people for the right roles, driving better retention outcomes at scale. Once talent acquisition leaders learn how to balance data with intuition, blending human interactions with augmented solutions, the function will be able to better deliver a less homogenous and more effective pool of talent, and one that fits and stays put.