Talent Acquisition Models that yield exceptional outcomes (part 2)
Hello again. In my last blog ‘talent acquisition models that yield exceptional outcomes (part 1)’ we identified trends, challenges, and strategic needs of a business in relation to TA models, and I asked a number of questions positioned around the ideal model/outcomes a company should have.
I also promised to share with you experiences of the best and worst options we have seen with Fortune 1000 companies and explain how that is affecting their strategic value and tactical outcome.
This is not a name and shame blog. However the three examples are real Fortune 1000 companies who have positively changed the way in which they think, value and operate in their recruitment space.
The Good:- The in-house team who are actually recruiting talent for their internal stakeholders, and spend more than 50% of their time being a brand ambassador for the company and filling 95+% of their roles within 45-60 days.
The Okay:- The in-house team who continue to have more conversations with recruiters, agencies, and shuffle through a lot of email clutter, than spending time with potential employees. They end up having consistent pressure around bandwidth and budget management.
The Bad:- The in-house team who spend 80% of their time liaising with internal stakeholders about why there is no talent, defending why there is an enormous amount of open requisitions and candidate fall off rates are through the roof, with little ideas on why.
Cause and effect:-
A significant proportion of this comes down to the old adage of 80/20. Avancos has seen that 68% of businesses with an in-house team of recruiters spend only 20% of their time engaged with talent. The rest (80%) of their time is spent managing internal relationships/expectations and/or dealing with external agency staff. Not us, I hear you cry……well chances are that actually it is you.
Our research has shown that corporate recruiters are actually very good at what they do! Recruiting talent into a business, and by recruiting I mean identifying candidates, approaching them, selling the brand, the opportunity, the career development programme, creating a brand experience with accurate data, timely interaction etc. Not negotiating with suppliers, not developing technology platforms to improve access to talent, not holding internal meetings about internal meetings about why does each recruiter have over 20, 50, 100+ open requisitions! Not chasing hiring managers for weeks, months even for feedback on interviews…….yet, this appears to have a familiarity about it!
The biggest challenge facing recruiters is ‘access to talent in a manner which is timely, accurate and predictable’.
Avancos has helped over 100 companies to review and improve their strategic understanding of recruiting talent directly. We have shown companies that by linking the strategic needs of the business with the tactical delivery of the recruitment team companies can improve their access to talent, strengthen their internal bandwidth by between 17 and 22%, reduce their cost per hire by 2/3rds and be able to deliver a candidate experience which aligns to the needs of the quality aspect of the talent pool.
In my next blog, I will go on to tell you how we achieved these improvements, but for now all I will share is something which my Nan used to say……you can’t bake a great cake without fresh eggs!