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The modern talent market is more competitive than ever, and many organizations are doing all they can to simply recruit the right talent to fill the open seats in their organization. However, too few organizations take the time to understand whether their recruitment processes, tools, and overall strategy are as effective and efficient as they can and should be.
Effective workforce planning is crucial for businesses that want to thrive and stay competitive in today's dynamic market. However, it is not without its challenges. From navigating tight budgets and addressing talent redundancy to shifting work models and rapid market changes, workforce planning requires careful consideration and strategic foresight.
In case you missed it, we recently discussed the impact the national talent shortage is having on key industries and how critical roles like Workforce Planning Professionals and Talent Acquisition professionals are addressing it. In short, their efforts can lead to a more productive, engaged, and innovative workforce that is better equipped to tackle the challenges of the future.
As a component of the overall Talent Planning/Talent Management process within organizations, succession planning is an undertaking that generally aims to strike a balance between the objective and the subjective. When comparing internal versus external candidates at all levels within a company, insights into global labor market intelligence are paramount to developing a holistic succession planning initiative.
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.
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.
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.
We are thrilled to kick off 2023 in the best way possible by introducing new features for our Horsefly 4.0 clients: longitudinal supply and demand data and prescriptive commentary.
There is a lot of talk about the latest phase of recovery from the covid period. Have you noticed how everything is preceded by “Great.” Currently, the most popular term and discussion point goes under the label of “the great resignation”. It was where they were moved to post “the great rehire”, which followed “the great lock down.” Everything, it seems, has to be great, but is this great resignation really what it seems, or is it best described as “hyperbole.”
