Having the right talent acquisition strategy can directly impact your bottom line, but how do you go about building it? You’ll need to take a structured approach to your talent strategy — and we've got all the guidance you need in that department. Follow our lead and pretty soon you'll be able to significantly reduce time to hire, mitigate employee recruitment challenges and serve as a far more strategic partner to the business.
1. business goals = true north
As you evolve your talent strategy, remember that business goals should be your "true north." You should also think strategically, and try to take into account any trends that are unique to your industry or line of business. While, ultimately, your plan will touch on many different aspects of employee attraction and recruitment, at the outset you should focus on just a few areas, with the understanding that your plan will continue to change over time.
2. work backwards from the future
Your talent acquisition strategy will be the most effective when it aligns with and supports the overall growth strategy of your business. So start with 12-month, two-year and five-year business plans to determine which functional or departmental areas will likely see the most growth, then think about your related talent needs. You should definitely look to partner with senior leaders at this stage, and by anticipating key growth areas — and securing buy-in from the top-down — you'll help ensure smoother execution down the line.
Your talent strategy must identify ways to stay current with — or better still, ahead of — trends and forecasts for your industry. For instance, are there new technology applications that are likely going to create new talent needs? By understanding these dynamics, you’ll be better prepared for the future and have a much greater chance of success when it comes time to start sourcing candidates.
3. build your brand — every day
Simply put, companies with strong employer brands attract strong candidates. In fact, studies have found that the majority of candidates won’t even apply to companies with negative reviews on job sites like kununu. That's why your talent acquisition strategy should include a plan for enhancing your employer brand. Focus on communicating your company's culture, perks and benefits, level of digital sophistication and more. And, finally, make sure you think through how you're going to engage with different audiences across platforms and channels.
4. leverage technology and data
Technology and data are integral components of an effective talent acquisition strategy. How you use them also tends to have a determining influence on who you recruit, where you recruit them from — and more.
On the one hand, technological advancements can quickly create demand for (or eliminate) specific skill sets within your organization. So you should try to establish relationships with tech-savvy teams or other information sources. That way, you can stay in the loop about new developments and keep your talent strategy ahead of the technology curve.
From another perspective, any number of software tools can help you collect, record and evaluate data related to employee recruitment, acquisition or experience, just to name a few. As you work on your talent acquisition strategy, outline which metrics you can generate in-house and which you may need to acquire. Identify who within the organization can help interpret results, how and with whom you’ll share results and what you’ll do in terms of next steps.
To get the most value from the latest technologies impacting the recruiting and hiring space, you might also consider aligning with a digitally proficient employee recruitment and workforce solutions partner. This type of partnership can make your digital talent strategy more robust, while minimizing costs and risks.
5. continue to finesse
As with any functioning plan, of course, your talent acquisition strategy is necessarily going to evolve over time. And that’s okay. Keep it up to date. Ensure ongoing alignment with key stakeholders. Doing so will help you secure top candidates with less stress and lower bottom-line costs. At the end of the day, your plan should be a living, growing document — not something set in stone.
Just follow the five steps outlined here and you'll be well on your way to putting an effective talent acquisition strategy in place.
Click here to get the complete guide to talent acquisition.