Circa’s unparalleled industry expertise and SaaS solutions have transformed how businesses approach talent acquisition, retention, and workforce management processes since 1994. In a recent featured resource, the The Future of Talent Acquisition 2023 research report focuses on talent acquisition, current and near-future trends, metrics, analytics, tools, fair compensation rates, and more.
There is an incredible amount of information and data on economic, technology, talent acquisition, and employee preference trends. As well as the major findings that help to explain the paradigm shift in talent acquisition that includes an emphasis on measuring success factors like flexibility, learning agility, emotional intelligence, and culture fit – factors we at the Talent Store are proud to say was a basis of our founding and what we are trying to shift.
- Most organizations view talent acquisition as critical to the business and bottom line, but relatively few of them truly excel at it.
- The majority of organizations struggle to find skilled candidates to replace workers who have exited.
- Most invest in paid tools and technologies in a bid to make talent acquisition more efficient.
- Organizations lack consensus on the most preferred TA metrics, though the quality of hire is the most widely cited.
- Respondents are most likely to say that the near-term future of talent acquisition will focus on predictive analytics and strengthening the employer brand.
- Those that DO excel at talent acquisition are:
- 4x more likely to use software for the purpose of talent pipeline management.
- Over 3x more likely to say that talent acquisition is the most important human capital issue for organizations today.
- Over 3x more likely to use an employee referral platform.
- Over 2x more likely to use offer acceptance rates and employee attrition as key TA metrics.
- Over 2x more likely to use an applicant tracking system (ATS).
- 2x more likely to believe their talent acquisition budget will grow over the next two years.
- 2x less likely to say their TA processes are ineffective and time intensive.
- 2x less likely to say their organization struggles with a “just-in-time, reactive hiring approach”.
The Talent Store was founded based on the understanding that the workforce preferences and organizational talent needs would be going through a huge shift and Talent Strategy would become even more vital to a business’s success. Let’s talk about how we can support your growth by helping you excel at Talent Strategy today.