The pandemic has hit the Australian economy hard, and businesses are feeling the pressure. With the Reserve Bank implementing record-breaking measures to tackle inflation, it’s clear that the government’s pandemic payments have had unintended consequences. As senior HR professionals grapple with recruitment challenges and recruitment strategies in this tough market, thinking outside the box is more important than ever.
According to the latest Elmo Industry Benchmark Report, attracting the right candidates, reducing hiring time, and making sound recruitment decisions based on data are identified among the top 10 recruitment challenges facing organisations. Clearly, competition for talent is fierce, but as Einstein said, “We cannot solve problems at the same level of thinking that we were when we created those problems."
To attract top talent, organisations must go beyond the basics. Offering a great company culture, a strong employer brand, diversity and inclusion, competitive salary packages, career advancement, and flexible work arrangements are all essential factors. But what makes a difference is offering candidates a precise and accurate picture of the traits, skills, and competencies ideally suited for success in a particular role and specific to an organisation. This will help candidates to see themselves in the role and align their aspirations with the organisation’s goals for longer-term employment.
A big challenge for talent teams is how to provide this information quickly, easily, and accurately. Enter science. Recruitment is all about gathering information and reducing risk for the employer. With cutting-edge algorithms, organisations can now measure candidates’ traits, skills, competencies, and potential job performance against an exclusive benchmark by role within an organisation, ensuring a solid match. This data answers the “what’s in it for me?" question that all candidates have and enables hiring managers to identify the ideal candidate for the team successfully.
By adopting this recruiting strategy, organisations not only reduce hiring costs but also achieve a seamless fit between the candidate and the team, leading to a win for all involved. In this way, science can help organisations overcome recruitment challenges in a tight market and set them up for people planning and success in the years ahead.
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