6 Hiring Trends That Impact Your Talent Acquisition Success

Clearly, hiring the best people is more critical than ever if you want to reach your company goals. Now, let’s briefly review what’s going on in hiring and employment. These six trends make talent acquisition more challenging than it’s been in many years:

1.  Talent is becoming scarcer.

Baby boomers are retiring and there are fewer U.S. graduates with technical degrees; this is increasingly driving high-tech jobs and top technical talent overseas. Given the increasing governmental regulations and oversight in your market, you are finding the need to upgrade your employee’s skill and knowledge base. You or your company must become very good at competitive recruitment and attracting stronger talent to your organization.

2.  Talent acquisition is harder.

Both the employed and unemployed have more opportunities to evaluate and receive multiple offers. Delay hiring decisions and you likely lose out on talent to more aggressive employers (or those who can make faster decisions). As we mentioned earlier, a key trend is the movement of big CPG companies into this space, meaning they now compete for top talent. Thus, you have to work harder and smarter to find the best person for your organization, or settle for a second or third choice.

3.  Retention is becoming more challenging.

As top tier employees become scarce, companies will directly recruit from competitors. If key executives have been overburdened or overworked due to the difficult global economic situation, layoffs, or downsizing, then they are more apt to accept a better offer elsewhere.

4.  Relocating is less common.

It should come as no surprise to you that candidates are less likely to relocate than they did five, ten, or fifteen years ago. Why? Because it's much harder to sell a home in this weak housing market. In addition, children seem to have a stronger influence in a family’s willingness to relocate the ten or fifteen years ago.

5.  Hiring has increased across all functions.

Increases in hiring demand for sales, business development, marketing (especially social media), as well as research and development regulatory, and quality are being seen across companies in the Consumer Healthy Living sector.. Strong industry growth absolutely brings benefits to your company, but it makes recruitment and talent acquisition a high priority. Are you dedicating enough attention to acquiring top talent?

6. Globally experienced executives are in high demand.

Employees with international experience and multi-language in high demand in all industry sectors. As dietary supplement and food/nutritional ingredient companies look to expand and grow into internationally, they will need to employ men and women who have that experience.

 

Further Reading:

3 Key Hiring Trends & Why They Are Driving the Need for Top Talent

8 Myths About Executive Search Firms & Why They're False