Quality of hire and better candidate experience top Talent Acquisition priorities
Fosway Group, Europe’s #1 HR industry analyst, today shares results from its inaugural Talent Acquisition (TA) Realities Research. The research complements Fosway's existing corporate research into HR and digital learning realities and shows the impact of the COVID-19 pandemic and wider market trends on hiring teams and how they have responded.
The research shows 93% of TA professionals made changes to their strategy in response to the pandemic, with 40% making significant changes to what they do and how they do it. Only 32% found it easy for their recruitment operations to cope with the impact of COVID-19 on their organisation.
The findings reveal that 60% of TA professionals feel under greater pressure to show value to their stakeholders. And 51% say they have gone through a major shift in how and what they do as a TA function, and that talent acquisition will never be the same again. And whilst TA strategies have been very effective at delivering the best cost per hire, they have been much less effective at delivering a strong talent pipeline as well as a truly diverse candidate pool.
As a result, 71% of TA teams are putting quality of hire at the top of their priority list to ensure their people investment is effective and sustainable.
Diversity, equity and inclusion (DE&I) is also now a top priority across candidate attraction, selection and hiring - 62% of TA teams are prioritising being an inclusive employer and 52% want to use fair, unbiased and diverse hiring practices. The research also shows that there is a significant way to go. For example, whilst 51% of hiring teams review job ads for biased language, only 19% always redact candidate profiles to reduce bias in decisions and 45% never or seldomly redact profiles.
Overall, the research also reveals that there is no one-size-fits-all solution strategy for talent acquisition and that only 41% of TA teams believe their TA platforms are fit for the modern workforce.
"The addition of deeper TA trends research to our Realities research portfolio is really exciting, providing corporate TA teams with valuable data and insight on what is happening with their peers," says David Wilson, CEO, Fosway Group. "The data shows that TA continues to transform as businesses grapple with ongoing skills challenges and wider economic and social changes. This is a buoyant market with high expectations as TA teams look to invest across all areas of the recruitment journey."
Sven Elbert, senior analyst at Fosway Group, adds, “Whilst it is good to see hiring teams prioritise quality of hire, the solution challenge to deliver on this remains a challenge. A large proportion of TA teams believe their recruitment technology is not fit for the modern workforce which is why making the right TA technology buying decisions is now more important than ever.”
Fosway Group conducted the survey of its corporate research network and in partnership with Inhouse Recruitment Expo between March and June 2022, focusing on TA Directors, Managers and recruiting professionals. The results are drawn primarily from enterprise organisations in Europe and the survey includes responses from 278 individuals.
Download the research infographic here
About Fosway Group
Fosway Group is Europe’s #1 HR Industry Analyst focused on Next Gen HR, Talent and Learning. Founded in 1996, we are known for our unique European research, our independence and our integrity. And just like the Roman road we draw our name from, you’ll find that we’re unusually direct. We don’t have a vested interest in your supplier or consulting choices. So, whether you’re looking for independent research, specific advice or a critical friend to cut through the market hype, we can tell you what you need to know to succeed. Talk to us today on +44 (0) 207 917 1870 or via [email protected], or visit us at www.fosway.com.