Interesting thoughts…..
……..from interesting and knowledgable people. 
Talent Attraction and Procurement Trends for 2016
A new year is upon us bringing changes to talent attraction and procurement. 3.6 million baby boomers are set to retire in 2016 and there are not enough people within generation X to fill the gap. This leaves many opportunities for millennials to move up into key leadership positions. The first group of generation Z graduates will enter the workforce and this group is showing a tendency to be more loyal, flexible, and realistic. In addition, they will seek mentors in their careers more frequently.
The talent shortage we saw in 2015 will continue into the new year making competing organizations the biggest obstacle in attracting top talent. The experience each candidate has will be key in procuring this talent.
Employer branding will need to address how the organization will build and maintain relationships with candidates during the attraction process. A relationship will need to be developed while the candidate is deciding to make a move or while the organization is waiting for a position to open up. Companies with strong brands understand that candidates will share their experience with friends, family, and on social media. This experience can ultimately determine how the organization is perceived by many.
Boomerang employees (i.e. those who have left the organization and are rehired) and talent retention will be a priority during the talent shortage. A recent study shows that 76% of companies who previously shied away from boomerang employees are now open to rehires. This is up from 48% in the past. The benefits of rehiring talent include a lower cost to hire and less time on-boarding.
Retention efforts will focus heavily on workforce planning and internal recruiting with the goal of filling gaps from within. These efforts will include more training, cross-training, and the creation of well-defined career paths. Referral programs will also be utilized as a key source of quality hires, since referred hires tend to have longer tenures and increased performance. Organizations will need to make certain that the candidate’s experience is polished before heavily promoting referral programs, as these two programs are interdependent.
In addition, office spaces will most likely be utilized in new ways or will shrink in size as more flexible work options are introduced. Remote work, flexible schedules, and an increase in freelance use will allow for an increased talent pool and better retention. It is estimated that by 2020, 40% of all talent will be freelance.
Recruiting in 2016 will have organizations looking inward at the candidate experience, rehiring the best talent that got away, and retaining top talent to their industries.
The people at Genesis Search are pros at not only helping your find top talent, but also helping you retain the top talent you currently have onboard. To learn more about Genesis Search Group or get on their newsletter list, go here:
http://www.genesissearchgroup.com/
