Horsefly Talent Analytics Insights

 

Successful organizations all have one thing in common: they know that the key to winning in an increasingly challenging market lies within recruiting the best talent available. However, whereas successful organizations used to get by recruiting within just their local metropolitan area, today’s more competitive talent market paired with more flexible working arrangements has both enabled and necessitated that businesses work to attract talent from a broader geographic area across the globe. 

 

With the rapid expansion of TELUS International’s business, including multiple acquisitions and new delivery centers, there was mounting pressure on the Talent Acquisition team to provide timely and accurate talent data. The manual process of investigating each line of business, analyzing salaries, assessing candidate experience, and factoring in human capital information was cumbersome and inefficient.

 

The modern talent market is primarily defined by scarcity, uncertainty, and constant change. While Human Resources teams may be faced with such challenges, their counterparts within the business are still relying upon them to develop and deliver the talent necessary to execute business-critical objectives.

 

From labor shortages to hiring freezes, understanding the external labor market versus the internal talent marketplace within an organization is paramount to determining whether or not to invest internally or externally to fill open roles or new positions. When organizations find themselves needing to fill an open position, they often default to primarily sourcing talent from outside of their existing employee population.

 

Business leaders face a myriad of challenges when it comes to Talent Acquisition, expansion, diversity, and retaining top performers. To ensure that their organizations remain competitive and successful in the long run, it's imperative to adopt a data-driven approach to talent management. That means…Labor Analytics.

 

In today's rapidly-evolving business landscape, companies must have a deep understanding of the talent market to make informed hiring and workforce planning decisions. Accurate and timely data is crucial for both daily operations and long-term growth and companies that fail to take a data-driven approach to workforce planning risk falling behind their competitors.

 

Being in a position of leadership comes with the responsibility to steer their organizations toward greater success. In today's fiercely competitive business world, organizations need to utilize every tool at their disposal to achieve this end. One of the most valuable tools in a strategic leader's kit is a comprehensive understanding of labor market analytics. 

 

“Don't ignore the cost: While cost shouldn't be the only factor in your decision, it's essential to consider the total cost of ownership, including any ongoing growth or subscription fees. Also, how willing is your potential partner to build bespoke pricing that matches your current needs and future?”

 

Horsefly Analytics undertook an extensive survey of US and UK-based HR, TA professionals, business strategists, recruiters, and other stakeholders to gain insight into how they handle recruitment’s most pressing issues. Our respondents were from various industries, including healthcare, technology, recruitment agencies, the public sector, and financial institutions. The survey aimed to uncover how businesses prepare for the future of Talent Acquisition and which strategies create a pipeline of diverse leaders, managers, and specialists.