Developing a great team and making sure that your company is profitable are likely two of your biggest goals as you look ahead to 2020 and beyond.To make your hiring more effective, we have compiled a list of seven of the biggest emerging trends in talent acquisition that you'll likely see even more of in 2020.
Talent Acquisition Trends for 2020
- Building a Strong Employer Brand
- “Candidate-Forward" Recruiting Experiences
- Interactive Video Interviewing
- Hiring for Diversity and Inclusion
- Maturing AI
- Engaging Active and Passive Job Seekers
- Leveraging Current Employees
1. Building a Strong Employer Brand
Over the past few years, we have seen an increased focus on the way that the employer brand has impacted hiring and recruitment marketing. Candidates rely more than ever on employer branding to cut through the noise when determining where to kick start their careers.
In order to get a “leg up” on the war for talent in 2020 and beyond, your employer brand is crucial to the success of your talent acquisition strategy. Companies with great employer brands receive 50% more qualified applicants and see a 50% reduction in cost-per-hire, according to LinkedIn research. A positive employer brand communicates that your company is a good employer and a great place to work.
The bottom line is that if your employer brand awareness is low, you are not going to be an automatic contender for top talent looking to start their career. You can help this by creating a memorable and transparent employer brand that keeps candidates—both passive and active—informed and excited about what your company stands for and what your company delivers to its’ employees and the community. A true focus on increasing the visibility of your brand as a stand-out entity is imperative in showing that you are a better option than your competitor.
To make up for poor employer brand, companies must offer a 10% pay increase to attract top job seekers.
2. “Candidate-Forward" Recruiting Experiences
In today’s hyper competitive job market, candidates do not have time to waste with a prospective employer that takes too long to hire, does not communicate effectively, or makes a less than appealing first impression. When candidates start to form an opinion about your company, both as a future employer and as a business, the moment that they begin the application process, you cannot afford to jeopardize this experience.
Providing a memorable and unique candidate experience will be of utmost importance for talent acquisition leaders looking to get a leg up on their competition in 2020. Recruiting strategies must strive to create authentic relationships with candidates by making them feel valued throughout the entire recruiting in the process.
The way that you attract top talent is one of the most critical components of a modern talent acquisition strategy, and the way that you present your employer brand and the opportunities that you provide ultimately set the tone for the overall candidate experience.
Looking for more information? We uncover six proven strategies to help you improve your candidate engagement here.
3. Interactive Video Interviewing
The personal connections formed in the hiring process play a significant role in whether or not a candidate decides to join a company. What better way to nurture prospective talent and share your company's culture and values than through engaging opportunities like two-way video interviewing?
Studies show that 57% of candidates prefer live video interviews.
Some of the largest organizations like Apple, Twitter, Google, and Facebook have taken this cue and have all implemented video interviewing as a part of their recruitment strategies to attract the brightest talent. Expect more companies to follow suit as the competition for talent becomes even more fierce in 2020.
With the help of video, you can form a more authentic relationship with candidates, meeting them where they already are: online. And because these video chats can happen anywhere, you’ll simultaneously reduce the scheduling burden placed on all parties.
At Turazo, we help companies attract and nurture early-career talent by connecting their prospects with their employees for one-on-one video conversations. It is through these 1:1 connections that we believe true relationships are built. See what our users are saying about the networks they are involved in.
4. Hiring for Diversity and Inclusion
Creating an ongoing pipeline of diverse talent, including women, people of color, disabled persons, and LGBTQ employees, will continue to be a top priority for talent acquisition leaders in 2020. When it comes to recruiting and hiring, the perception of a company’s diversity and inclusion practices matter. In fact, when deciding between job offers, 67% of job seekers consider diversity and inclusion a vital factor when deciding to accept a job offer.
Technology will continue to propel hiring for diversity and inclusion by helping teams implement scalable recruiting strategies that focus on sourcing, attracting, and hiring diverse talent. Adding prospects to your Candidate Relationship Management (CRM) database is important, but your talent pool is only useful if you can quickly identify your most qualified candidates.
That’s where Turazo comes in. We help you keep candidates continuously engaged and connected to your employer brand by organizing your data - saving you time on manual tasks - and by providing your prospects with a valuable and truly unique candidate experience.
Take Under Armour for example. Through their Turazo talent acquisition network, Under Armour is able to leverage their existing university relationships while also building strategic partnerships with schools that serve predominantly minority populations. Through these efforts, they’ve gone from interacting with roughly 20 schools per year to over 200 per year.
When it comes to diversity recruiting, the best strategy for building a diverse pipeline ultimately means fishing where the fish are. Most employers, however, notoriously target colleges based on their academic merit not their demographic representation. By actively targeting schools like Historically Black Colleges and Universities (HBCUs) or Hispanic Serving Institutions (HSIs) in your campus recruiting initiatives, you’ll tap into a wider pool of great candidates where your competitors are likely not fishing.
So what does this all mean? An inclusive organization cannot exist without a diverse workforce. And an organization must be inclusive in order to retain its diverse staff. It will take comprehensive efforts and continued investment in 2020 and beyond to attract, hire, develop, and retain a diverse workforce while building an inclusive culture.
5. Maturing AI
Recruitment technologies that apply AI will continue to focus on the crucial needs facing recruiters today:
- Hiring quality candidates quickly;
- Sourcing passive candidates cost-effectively;
- Maintaining ongoing engagement with a robust talent pipeline of candidates for current or future opportunities.
From automation to sourcing potential candidates, the possibilities of how artificial intelligence will be harnessed in 2020 will continuously evolve. It’s important to note, however, that AI still has a way to go. As “AI” has made its presence felt in the HR space, a counter-movement has developed with many HR practitioners voicing that the H in HR stands for “human.”
The true power of AI lies in its ability to augment the capabilities of a recruiter, rather than replace what they do and how they interact with potential candidates. After all, recruiting is inherently a social activity and candidates want to interact with the real people behind their desired positions — not machines.
It’s inevitable that AI will continue to gain traction in HR. Knowing which areas of the employee journey lend themselves to AI and which ones are best left to humans will be the ultimate challenge for talent acquisition leaders looking to introduce new technologies into their recruiting stack in 2020.
6. Engaging Active and Passive Job Seekers
80% of candidates say that they would take one job over another based on personal relationships formed during the interview process. Ironically, however, recruiting has historically been a one way street where employer-centric recruiting (focused on filling open positions) trumped candidate-centric recruiting (focused on building relationships with candidates).
Where do we go from here?
Talent acquisition networks and talent communities will likely increase in order to more efficiently convert and funnel career site visitors and other sourced candidates into a database where they are nurtured over time. The best ones will be two-way streets. To help with a few examples, we have identified five companies that are harnessing the power of 1:1 engagements with candidates while building talent pipelines that truly stand out from the competition.
Continuous authentic candidate engagement - both with passive and active job seekers - will be key to your recruiting success in 2020.
7. Leveraging Current Employees in Recruiting
Candidates trust a company's current employees way more than their corporate messaging to provide credible information on what it’s like to work there. More so today than ever before, employees are increasingly well-positioned to act as a bridge between your company and a potential candidate largely due to the rise of social media.
The relationships that your employees have with the people within their personal networks - like potential customers, prospects, and hires - are stronger than any relationship that these people will have with your brand. This will only continue to amplify in 2020 as employees start to play a more active role in attracting and nurturing future employees.
How can you use this to your advantage?
Knowing that the information that your current employees share about your brand - like the working environment, a day in the life, or benefits - is seen as more genuine than your corporate messaging to candidates or prospective candidates. You should take advantage of the fact that your current employees are uniquely posed to be positive additions in your hiring and recruiting strategies by leveraging your current employees as brand ambassadors. Including them in your recruitment marketing strategy could mean the difference between hiring great talent and losing them to your competition.
The expectations of the recruitment experience are constantly evolving - both from the perspective of the candidates and from the teams in charge of recruiting them. In 2020, expect to see technology continue to equip recruiting teams with creative and innovative ways to attract and nurture the best talent. Staying on top of these seven trends can help you and your team stay competitive in 2020 and beyond.