9 key challenges in digital transformation and recruiting
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#implementing-and-using-technology-efficiently-and-effectively
#getting-a-diverse-and-inclusive-workforce
1. Talent Shortage
On a global scale... 36% of firms reported their key focus was quality talent acquisition in 2022.
But why is there a shortage of talent? Let’s look at a statistic, in November 2021, job openings in the United States exceeded 10.5 million, compared to 3.8 million a decade ago.
But why!?
Well, put simply, they are saying it was due to Covid-19 and also an ageing workforce. Skilled workers are becoming hard to find locally.
2. Managing recruitment costs
As business owners, we all face the same annoying “walls”. We try to keep recruitment costs and overhead low while still acquiring a steady stream of high-quality talent.
Not to mention keeping up with the Jones and staying current on the latest tech-enabled processes.
The thing is neither of these work hand in hand making it near impossible. Growth can be expensive, don't you agree? We need to accomplish these things to be able to continue going onwards and upwards.
3. Retaining Talent
Talents today work on a global scale. They can pretty much work wherever they like. An Indian, for example, can work for a US company and a Filipino can work for a UK firm while still being located in their home country. If they are not happy at one company for any reason they will change. And guess what, other companies will accept.
Typically they will work harder for less money.
We need to pair jobseekers and employers better to prevent this and set better expectations.
On a side note this is why we encourage both employer and applicant to post videos with their profiles and job ads.
4. Time invested, wasted
More companies than ever are trying to automate their processes with things like Application Tracking Systems (ATS) - however this does not totally get rid of the timely part of the interviewing and the back and forth communication before and after.
We have integrated video into profile and job descriptions to allow for a fasting vetting process. Not only this but you can see who is online right away. Want to see what we mean?
5. Speed of recruiting
As I mentioned before, it takes on average 10 days, 2 working weeks or 80 hours to hire an entry-level employee. Why does it take so long, and why are we wasting so much time?
Well, as mentioned above, you have a lot of back-and-forth conversations with the potential candidates only to get to the interview to realise they aren't quite what you thought. » With remote staff what you might find is they can't communicate very well verbally and depending on the company or role, this is vital.
FYI, for an executive role its around 3 to 6 months. That is crazy long, don’t you think? It needs to be faster and we are working on it!
6. Implementing and using technology efficiently and effectively
As stated above, you will be left behind if you’re not onboarding new technology into your business.
A prominent slogan we have at Inten is it takes speed to lead and its totally right! If you're not first, you're last. Technology will and does help many firms improve their processes. What was life like before Xero or Quickbooks a living hell one of our CPA's tells us.
Do you know the story of Kodak and Sony? No? Kodak were the top dogs for photography most of the 20th centry during the 90's Sony produced a digital camera when cameras were all going digital and at the time Kodak wasn't ready.
7. Getting a diverse and inclusive workforce
This is high up on the list for candidates, so listen carefully. In a survey 78% of jobseekers said they want to work for a company that makes an effort in creating a diverse and inclusive workforce, they listed it a priority actually.
To keep and retain your new hires, bear this in mind.
In addition » to this, Harvard Business School has previously reported that firms where diversity is an important issue and that promote multiculturalism in the workplace are among the best at fostering creativity.
8. It’s a candidate's market
This typically creates a lot of noise in the market. We are all looking for the same candidates. An article found the other day says to get around this, make your employer's brand stand out, and make the applicant chase you.
We believe and totally support this. Why should candidate always have to be impressing the employer. To empower this, our job posting allows video job descriptions so employers can impress candidates. Check out what we mean.
9. Targeting passive candidates
From LinkedIn’s research, 70% of the global workforce is made up of passive talent who aren’t actively job searching and the remaining 30% are active job seekers.
Our take on this is everyone is a candidate and anyone can be recruited if you have a great match between their skills, experience and interests and the opportunity you’re looking to fill.
We think focusing on passive candidates is actually okay, perhaps the real problem is that you didn't have a good enough offer - not just monetry but the actualy job itself.
Everyone can be recruited.
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