There’s a new playing field in 2022 in the world of talent recruitment but it’s not a fair one. Organisations today find it a challenge to navigate the talent acquisition landmine and the process that they once relied upon to find talent and retain them has since changed due to the pandemic.
Organisations had to endure “The Great Resignation” and employee turnover en masse as a result of the pandemic. At the same time, remote and hybrid work arrangements and shifting organisational priorities also added to the unprecedented levels of mass turnover. Of course, the mass turnover had already begun before the COVID-19 outbreak. There were already factors leading to these changes, and many believe that it will continue to rise as the pandemic turns endemic.
So, how should you, as an organisation, move forward this 2022 with the likelihood of an ongoing high turnover trend? Our advice? Build acquisition and retention strategies that can help you emerge stronger and it starts with scientifically-proven talent assessments.
Winning the Talent War with Assessments
Think about it: You have two potential candidates with strong resumes and years of experience. They are both fully qualified for the role that you have on hand. Would you know who to bring on board? Has either of them raised a red flag about their ability to do the job that you have yet to see? What if it wasn’t just two candidates, but 10 or 15 or 20? A talent assessment can help you with this.
Talent assessments have long been a part of the hiring process and they certainly aren’t a new concept. However, conducting a talent assessment has become more complex as the factors have grown to include big data, various hiring methods, multifaceted tools and technology, and judgement. A 2019 LinkedIn report stated that 57% of professional recruiters use soft skills assessments while 60% think these assessments will make a great impact in the next five years.
That’s because talent assessments are a good indication of whether candidates are a good fit for the job you’re hiring for, as well as for the company culture and the team. Using talent assessment tools can also help to reduce the pool of candidates to a smaller and more qualified group. At the same time, you get insight into the candidates’ skills, and your process evolves.
The Role of a Talent Assessment in Your 2022 Strategy
Yet, there is still a silver lining in the waves of employee turnover in terms of creating opportunities if you have the right data. A high turnover can be seen as:
- A catalyst for rethinking your talent management, acquisition and retention strategies
- An opening for fresh talent that can drive and support team structure and success
Let’s expand a little on the first point.
A Catalyst for Your Talent Acquisition Strategy
We all know by now about The Great Resignation of 2021 in the U.S. labour market. Widespread job losses gave way to tight labour markets, with the nation’s “quit rate” reaching a record high in November that same year.
A new Pew Research Center survey showed that low pay, a lack of opportunities for career advancement, and feeling disrespected at work were top reasons Americans left their jobs last year. The survey also found that those who quit and are employed elsewhere are more likely to say that their current jobs provide better remuneration, more opportunities for career advancement, and a healthier work-life balance and flexibility.
If you’re experiencing high turnover, you’re not alone. Rather than be caught unaware in 2022, now is a good time to refresh your retention and hiring strategies for the new year. Spend some time evaluating what your organisational needs are moving forward based on your strategic plan. These, along with questions that organisations should be asking, can be measured through talent assessments:
- What are your organisational strengths and weaknesses? How will you alter the culture to meet these goals?
- What are the qualities you want in candidates which can be added to your management team?
- Should you be hiring for culture fit and contribute to the existing path, or for culture add and help you grow?
Moving on, we find an interesting take on fresh talent.
An Opening for Fresh Talent
Improving your organisational brand and automating your recruitment efforts are two of the top talent acquisition strategies in 2022. We suggest that you leave no stone unturned when hiring some of the best talents out there. But before you do, here are some things to consider.
High turnover can bring about an internal scramble that can turn into hasty decisions and an overlooked opportunity. How often did your organisation have to adapt to make changes to operations and strategies over the past couple of years? Today, it is even more crucial that you do and perhaps overhauls some of t