As 2019 came to a close, companies are wondering where the Talent Acquisition and Staffing industries are headed in 2020. And it seems that the trends of 2019 will actually continue to be prevalent, with AI, the talent shortage, and the importance of the candidate experience, even in the C-Suite, being the main driving factors.
As AI continues to grow in prevalence, companies have to watch to balance the convenience of technology with the genuine feeling that human interaction provides, a crucial factor to talent retention. A careful balance of the two will utilize the strengths of both and better candidate acquisition, experience, and retention.
Instead of trying to always bring in new talent, companies need to invest in the employees they already have. Providing more training and certification programs to help them grow into the positions that are more difficult to fill. According to LinkedIn’s 2018 Workplace Learning Report, 94% of employees would stay at a company if it invested in their careers. Companies that train and help their employees grow spend less time looking to fill jobs.
But companies will always need talent, even if they train and promote from within their companies. This is where talent pools come into play. A curated talent pool of highly-qualified candidates who want to work for the company will greatly aid them when they need to fill positions.
The talent shortage, and its challenges, includes executives. Those in the C-Suite are able to pick and choose their jobs even more so than those in lower positions. That’s why it is crucial to ensure that your executive candidates’ application, interview process, onboarding, and even the background screening process is simple, easy, and fast.
To AI or Not to AI?
While this is a question that has many staffing companies on edge, the industries are heavily leaning towards the use of AI. In 2020, AI will continue to expand its presence in the worlds of both talent acquisition and staffing. According to a report by Hr.com and Oracle, while the use of AI in talent acquisition is not widely used, 36% of survey participants expect that the usage will be high or very high in the next two years. AI has already shown potential in aiding with candidate sourcing, assessment, and selection, as well as onboarding. And the more AI is used, the more support it garners. 96% of recruiters feel that AI is key to enhancing talent acquisition and retention.As AI continues to grow in prevalence, companies have to watch to balance the convenience of technology with the genuine feeling that human interaction provides, a crucial factor to talent retention. A careful balance of the two will utilize the strengths of both and better candidate acquisition, experience, and retention.
Too Many Jobs, Not Enough People
As of October 2019, the unemployment rate in the United States was at 3.6%. With the unemployment rate predicted to remain similar in 2020, companies will have to continue to solve for the problems low unemployment provides. It’s not enough to simply put up a job offer. Companies have to compete with other companies for a limited resource.Instead of trying to always bring in new talent, companies need to invest in the employees they already have. Providing more training and certification programs to help them grow into the positions that are more difficult to fill. According to LinkedIn’s 2018 Workplace Learning Report, 94% of employees would stay at a company if it invested in their careers. Companies that train and help their employees grow spend less time looking to fill jobs.
But companies will always need talent, even if they train and promote from within their companies. This is where talent pools come into play. A curated talent pool of highly-qualified candidates who want to work for the company will greatly aid them when they need to fill positions.
Simple Candidate Experiences - Even in the C-Suite
Going hand-in-hand with talent shortage, a good candidate experience is key to retaining and attracting top talent. The easiest way to do this is to simplify as much of the candidate experience as possible. This trend will continue in 2020, and extend into the C-Suite.The talent shortage, and its challenges, includes executives. Those in the C-Suite are able to pick and choose their jobs even more so than those in lower positions. That’s why it is crucial to ensure that your executive candidates’ application, interview process, onboarding, and even the background screening process is simple, easy, and fast.
Planning for 2020
2020 is looking to be a continuation of the trends that picked up steam in 2019. With more use of AI and the talent shortage changing the way recruiting happens all the way up to the C-Suite, companies will have to spend time and resources into making sure they can keep up with the shifting industry.Watch the Webinar, "The Winning Formula for a Great Candidate Experience"
Learn key elements you can master to ensure your candidate's experience is the best it can be led by Virginia Watson, Founder of Watson Workforce Solutions, watch it here.