Are there too many jobs in the US today? Or, do we need to rethink what a job entails?
For the first time since the start of the millennium, there are almost as many job openings as there are people looking for them. In fact, 66% of U.S. companies already cannot fill key positions, and 47% of companies that are able to fill open positions report taking over 90 days to do so. In the very near future, the number of open reqs will surpass the number of unemployed. As the market becomes oversaturated with unfilled roles, candidates are becoming more selective, increasing competition between peer companies for the same people.
To get ahead of that competition, forward-looking leaders are thinking creatively about how work gets done. We created this free eBook to help you adopt the innovative mindset, shifting from focusing on talent acquisition to talent access.
In the book, we offer four concrete steps to take while waiting to fill critical open positions. These each correspond to emerging trends affecting the movement of talent and how top companies are responding:
- Machine learning and artificial intelligence
- The rising importance of corporate branding and culture
- ‘Agile’ workforce models applied cross-functionally
- External talent pools, freelancing, and hiring platforms
Read on for a quick summary of what we discuss, and don’t forget to download your free copy of the entire eBook.
Machine Learning & Artificial Intelligence
Artificial intelligence (AI) is more than a trendy buzzword used to turn heads, and it certainly isn’t limited to those in technical roles. The insights offered by AI can provide immense value to recruiters, helping your company to better identify talent from sources that might not have been readily apparent. This speeds up critical hiring decisions and decreases the investment you, as a hiring manager, need to put in for each new position. Encourage your HR team to use AI in hiring for your open roles, or take matters into your own hands and engage predictive analytics to find the right match.
Corporate Brand & Culture
Corporate brand matters now more than at any other point in history. Out of a combination of societal factors — many of which were brought on by the technological revolution — companies are now greatly competing on the basis of their culture. As people build their careers and lives out of a mosaic of work opportunities, they are looking for brand personas that align with their personal interests, experiences, and journeys. By crafting a focused yet realistic brand experience, you will ensure greater alignment with top talent that will actually enjoy working for you.
The Agile Workforce
Shifting customer preferences and global competition have done away with the slow, siloed business models of the past, requiring nimble workers and mutable objectives to keep up with the future. Responding to this need, the developer-coined methodology ‘Agile’ has become popularized across functions and industries.
At heart, Agile involves encouraging and enabling people to work together without the boundaries of department or job description. By creating fluid teams, you can maximize efficacy, react efficiently to strategic shifts, and even break up monolithic roles into small, tangible workstreams and discrete projects. While a shift to ‘Agile’ often results from a company-wave initiative, this can be done at the functional level with direct implications for your hiring needs: in the absence of an FTE, having an agile structure allows you to zoom in on the skills needed to complete a role’s responsibilities and allocate those across a collective.
External Talent Pools
It’s common knowledge that increasing numbers of people are striking out on their own in search of flexible working options, control over their career progression, and the independence bought by freelancing. Rather than losing an entire quarter or more waiting to fill a full-time position, consider identifying specific skills needed in the immediate term and engaging external talent to meet those needs. Top talent possessing specialized skill sets and the ability to work independently is already in the market looking for discrete ‘projects’, which you can use to keep your business moving along while looking for the right FTE.
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There are many tools at hand to help your company reconceptualize talent in a way that’s disruptive to the industry, not your workload. Download our free eBook to learn how you, as an organizational leader, can stop thinking about how to find the best people for the projects at hand and actually focus on getting work done.