Talent Acquisition Trends 2023
Korn Ferry talent acquisition experts offer their thoughts on what the next year will bring to the job market.
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FAQs about talent recruitment
What are the main stages of talent recruitment?
The talent recruitment process consists of six main phases.
- Candidate sourcing: Setting a strategy to identify the top talent for a particular role, using job descriptions and Success Profiles (Korn Ferry’s perspective on what is required for success in a role, combining data on experiences, behaviors, education, skills and competencies, leadership styles and more)
- Recruiting: Attracting active and passive job candidates to your job opening, including continual engagement of candidates so they understand what it would be like to work in your organization
- Screening: Identifying the qualified candidates in your pool
- Interviewing and assessing: Evaluating candidates through virtual or in-person interviews and talent assessments that consider each candidate’s competencies, traits, drivers and experiences
- Selecting candidates: Selecting the top candidates that match your organization’s hiring needs
- Onboarding: Building a development plan that will help new hires quickly get up to speed and engage them in their role and company culture
What is talent sourcing?
Talent sourcing, also called candidate sourcing, is the process of conducting a proactive search for qualified candidates who are a good fit for current or planned job openings. A sourcing strategy includes sharing the employer brand, setting job and candidate requirements, and identifying where to look for qualified individuals. The goal of talent sourcing is to build a pipeline of candidates who can fill current and future job vacancies.
To find candidates, organizations can turn to a variety of resources:
- High-potential internal candidates in development programs
- Passive candidates in similar roles from other organizations identified through social media or other recruitment technology platforms
- Employee referrals
- Community and affinity groups
- Corporate alumni groups
What is the best talent recruitment strategy?
The best talent recruitment strategy is the one that brings the right candidates to your organization. There is no one-size-fits-all recruitment strategy that will work for every company.
That said, organizations can take steps to optimize their hiring processes, and one of the most important things they can do is focus on delivering a positive candidate experience. The key is to show candidates that you care about them.
Throughout the hiring process, you should strive to leave a positive impression, starting with clear and accurate job ads and continuing by communicating regularly with candidates throughout the process — even unsuccessful ones.
We recommend that organizations follow what we call the “CARE” model.
- Configure: Configure your talent acquisition strategy with the right people, processes and technology. Make sure you have the right team members doing the right work. Also check to see whether there are any tools that might make it easier to perform their recruitment tasks, such as AI sourcing tools or requisition workflow automation. Finally, make sure you’ve built accountability into your team as well because accountability drives commitment.
- Adapt: No two candidates are alike, so your hiring process should be customized for each role as well as each candidate. Consider the candidate’s journey and make sure you’re creating an experience that targets what you want them to think, know and feel at each stage. It may be helpful to create a hiring persona with the traits, motivations and preferences typically found in a candidate segment.
- Refine: Use technology to refine the hiring process and personalize your approach to the candidate. For example, chatbots can increase the level of candidate care by offering 24/7 responsiveness to questions, scheduling appointments and interviews and providing updates. Digital assessments can notify candidates how they performed and offer constructive feedback.
- Elevate: Start treating candidates as if you’ve already hired them. By treating candidates as “employees-elect,” your candidates will feel as if they’re already part of your company. This is an opportunity to share your culture and values, so your hiring process becomes an extension of your onboarding process. This way, candidates are ready to start their job and make an impact on their first day. And even unsuccessful candidates will leave with a positive impression of your brand and culture.
What are the benefits of outsourcing talent acquisition?
A full lifecycle outsourced talent recruitment solution — one that starts with job profiling and continues through to the onboarding of the new hire — has a number of benefits. Depending on the recruitment process outsourcing (RPO) solution you choose, among these benefits are the following:
- Saving time through automated processes
- Building a pipeline of candidates who match your needs
- Shortening the time to fill positions
- Allowing your resources to focus on other high-priority work
- Reducing the risk of bad hires
- Addressing diversity and inclusion requirements by eliminating conscious and unconscious bias
- Making costs more predictable because you only pay for the resources you need
- Improving consistency across hiring processes
- Providing a coherent, engaging candidate experience
- Aligning recruitment strategies with overall business strategies
- Simplifying management of the talent acquisition function
- Giving a holistic view of the talent recruitment process
- Increasing flexibility so the hiring organization can scale resources quickly in response to changes in demand
How can an organization build a talent recruitment process?
A recruitment consultant can evaluate your organization’s hiring process and help you identify any gaps. Generally, an effective talent recruitment process consists of the following steps. (Keep in mind that you can do all of these steps yourself, or you can outsource them to an RPO expert.)
- Identify your hiring needs: Determine who the ideal person is for the position by considering the skills and competencies you need to add and how they will fit into the existing team.
- Prepare a job description: Make sure your job description reflects the position’s responsibilities accurately and that it lists all of the skills and experience required to excel in the role. Be sure to add information about how the role will fit into the team and your company’s culture and values.
- Plan where to source candidates: You’ll want to add the opening to your company’s website, but consider other options too. You may also want to post the role on job boards and social media or advertise at job fairs and college recruitment offices. Don’t forget to consider the easiest recruiting resource of all: internal talent. You may be able to find the perfect candidate from your existing talent pool or from an employee referral.
- Review applicants: Screen candidates, focusing on candidates who match your job description, skills, and experience requirements.
- Screen candidates by phone: A quick chat can quickly weed out candidates who may not be a good fit. Ask questions about any gaps on their resume and make sure the candidate is a good fit.
- Interview candidates: Follow your normal interview process, whether that’s virtual or in person. Be sure your interview environment is quiet and comfortable, and be prepared with a list of standard questions to guide your conversation and ensure your process is consistent. Don’t forget to save time to answer the candidate’s questions.
- Record feedback: Don’t hesitate to write down any notes about each candidate while they’re fresh in your mind.
- Assess the candidate: Ask the candidate to complete any additional skill and competency assessments and review the results to see how well they match your organization’s needs and where the candidate has opportunities for growth.
- Contact references: Reach out to references to confirm the candidate’s prior employment and any strengths and weaknesses.
- Make the offer: Extending an offer quickly, especially in a competitive environment, shows candidates that you’re excited to bring them on board.
The process may be more or less complex depending on your mode of hiring and the level of responsibility in the role.
