In recent years, businesses have faced immense challenges addressing their talent shortages. High turnover, a worker-controlled market, and an increase in salary demands have hindered organizations globally. Consequently, it is imperative that organizations rethink their talent acquisition strategy and workplace structure to accommodate these changing demands. As 2024 quickly approaches, now is the time to think about your recruitment strategy to attract the best and brightest talent.
In this episode of Yoh's 'Back to Work' podcast series, our host, Joe McIntyre speaks with Tom Enright – Vice President of Recruiting for Yoh Specialty Practice Group – surrounding the development of an effective recruitment strategy in 2024 to overcome pervasive hiring challenges.
Watch the full podcast episode
How Hybrid Working Models are Influencing Recruitment Dynamics
Candidates are now leading the discussions with recruiters as to whether the role is hybrid or remote. The response from recruiters frequently serves as a key factor in deciding whether they are motivated to proceed with the role and submit their application. The numbers support this claim, as remote and hybrid jobs are attracting 7 times more applicants than in-person roles – according to CNBC. As candidates remain vocal about their desire to work in hybrid environments, it’s up to organizations to meet their growing demands.
How Leaders can Adopt to Attract Top Talent in 2024
Leaders must proactively consider revisiting and adapting their talent acquisition strategies to stay abreast of dynamic market trends. A key indicator of your organization's appeal to candidates is by obtaining the perspectives of passive candidates. Passive candidates are those that not actively searching for a new job but are considered the right fit for a specific position by an employer. If a passive candidate is willing to consider switching jobs to join your organization, it means you are doing something right!
As a leader, you should be thinking about how to attract top talent in 2024. Here are a few ways to achieve it.
- Comprehensive Benefits Packages
- Hybrid Working Models
- Supportive Onboarding
- Increased Compensation
- Opportunities for New & Exciting Work Projects
The Importance of Creating Human Relationships in Talent Acquisition
Artificial intelligence has become a widely discussed topic - sparking conversations about its transformative impact on talent acquisition. Although Tom Enright suggests that recruiters shouldn’t get away from building long-standing relationships in favoring of automated outreach. While leveraging automation tools to interact with candidates can be efficient, it often comes across as disingenuous to candidates.
Recruiters that make a concise effort to create genuine relationships with candidates will prevail over those that approach candidates with a transactional mindset.
Final Takeaways Going into 2024
The market dynamics have not been favorable for recruiters in recent years, as rising interest rates coupled with workforce reductions have halted hiring for many companies. Although Tom Enright is still bullish on the market – suggesting that now is a great time to be a recruiter and we will get over the hump in 2024 to arrive at greener pastures. As new tech and tools emerge in 2024 to accelerate talent acquisition, he continues to emphasize the importance of creating genuine relationships that are often overlooked with the advent of tech. Listen to the full podcast episode to learn more about focused strategies to develop an effective recruitment strategy heading into 2024.