It’s a tough world out there in talent acquisition – a fact that was strongly voiced at our virtual round table for TA leaders in June. We polled the 40 participants from across the country to find out exactly what issues they face when dealing with hiring volumes.
So what are the top three challenges for recruitment professionals today?
Skills and talent shortage – 68%
Sixty-eight per cent of respondents named the skills and talent shortage as one of the key issues they face. This lack of talent means that many organisations are going after the same people, as Anna Britt, Senior Director TA at Medallia, agrees:
“Skills shortage is definitely the biggest issue that we have here. Even passive candidates who we think will only be hearing from us have two or three other offers in the process. It can’t stay this busy and this competitive forever… right?”
~ Anna Britt, Senior Director TA at Medallia,
Well, that may be wishful thinking. This isn’t a short-term issue. Predictions from Korn Ferry say that by 2030 more than 85 million jobs could go unfilled because there aren’t enough skilled people to do them. That equates to an $8.5 trillion talent shortage.
Increased volumes – 55%
Next up, 55% stated increased volumes as a key challenge. This is unarguable. Unfilled vacancies in the UK have reached an all-time high, hitting 1.3 million in the three months to May 2022. That’s around 535,000 more vacancies than the same period in 2021. And adding to the significant pressure already felt by TA professionals, PwC’s Global Workforce Hope and Fears Survey shows that one in five employees is likely to switch to a new employer in the next 12 months.
Lack of forecasting – 36%
Third in line was a lack of forecasting. “Every client I’ve ever had has faced a lack of forecasting. They’re meant to be the first to know what’s going on in the business, but they’re often the last.” So says our own MD, James Chapman. And for Petr Novotny, Head of Recruitment at Rohlik, it poses the most significant issue:
“The forecasting issue comes hand in hand with the increased demand. If you know what you’ll be hiring for, you won’t be surprised by the increased volumes.”
~ Petr, Head of Recruitment, Rohlik
A powerful solution
He goes on to suggest that one solution to the lack of talent in the market is to use scaleable recruitment teams, meaning organisations can be agile in their response to fluctuating hiring targets. At Recruiter on Demand, we can help you do just that. We know that an on-demand, embedded TA resource can help to strengthen any internal team and find quality candidates. We offer a flexible, low-risk way to match the demands you face – you only pay for us when you need us. And we have impressive success rates. We score 4.9/5 with our clients, 4.8/5 with candidates, and fill 94% of the jobs we’re given.
Find out about our no-commitment, hassle-free services