When to rethink your talent acquisition strategy: key indicators and best practices

There’s been a huge shift in the way organisations operate – and the way employees work - in recent years. With the rise of hybrid working models and flexible hours, and the increasing opportunity to enable our people with AI, organisations must adapt rapidly to understand the skills they need. Only then can they plan how to attract, retain and nurture the talent with the skills they need to achieve their goals.

Once the line has been drawn from the company’s goals to the skills required to achieve them, organisations can move on to mapping the skills that already exist and identifying the current or future gaps. In this way, the talent acquisition requirements become clear. And having clarity over what you will need from the talent acquisition function - now and in the future - provides the framework to assess if your talent acquisition strategy, structure, tools, agility and processes will successfully meet both current and future challenges.

Here we’ll explore the best practices that can help you navigate this critical process.

Recognising the need for change

We hardly need to say it – the skills gap is real. Maintaining an edge can mean constantly re-evaluating your talent acquisition approach and benchmarking against the industry. So how do you know when it’s time for a change? Several key indicators can signal the need for a strategic shift.

For example, when you compare yourself with market average, do you have:

• a higher proportion of poor-quality applications that need screening and responses
• more candidates who drop out of the recruitment process
• greater ratio of offers rejected
• too many no-shows on day one
• higher attrition in the first eight weeks
• overspend on contractors, temporary workers, Statement Of Work contracts and consultants compared with your plan
• hiring managers complaining about the time recruitment takes out of their day
• longer time to hire
• organisation unit heads requesting data you simply don’t have or don’t believe in

Evaluating your current approach

Once you’ve identified the areas that are causing friction in the machine, you need data to support the case for change. Assemble a cross functional team that can help collect information from any ATS, CRM or HRIS. Gather insights through candidate and hiring manager online surveys. A useful exercise is to have your senior management team rank their top 10 priorities for talent acquisition and then ask for their perception of current performance against these benchmarks. This process reveals differences between stakeholders and any gaps between aspirations and reality, providing a solid foundation for an organisation’s case for change.

Setting objectives for change

When building an organisation’s case for change, focus on setting specific, high-impact objectives. If you’ve managed to gather benchmark data on the current situation, this could mean setting clear targets for cost per hire, quality of hire, time to hire and candidate and hiring manager satisfaction. Making improvements to each of these key performance indicators will inevitably improve the perception of your TA team within your organisation and position your organisation as a destination employer. And this means not just attracting, but also retaining, top talent.

Embedding change

You’ll find change is most successful when all stakeholders have bought into the reason for the change and are aligned on the expected outcomes. So, make sure there’s open communication with all the stakeholders in the process, including them in developing solutions and agreeing what good looks like. Enabling them to take an active role will make the change process smoother and more focused.

Presenting the case for change

When it comes to presenting your case for change to leadership, lead with a current state analysis, benchmarking your existing performance against industry standards. And show the link between talent acquisition and profitability by demonstrating how effective recruitment directly contributes to an organisation’s success. Then offer evidence-based solutions, with clear recommendations backed by research and data that tells a compelling story. While overall spend is crucial, don’t neglect other performance metrics that can demonstrate the need for change and the potential for improvement such as the opportunity cost of a too-long empty sales role or the lost hiring manager time as they are dragged into administrative recruitment tasks.

In this way you can educate business decision-makers by explaining why your approach to talent acquisition should change, using the supporting data to make your case.

You should also consider engaging a talent acquisition partner.

Choosing the right talent partner

When selecting a talent solutions partner, opt for one that’s invested in your long-term success rather than just short-term gains. They should offer personal, long-term commitment through on-the-ground support and a tailored approach. Flexibility is key: as your organisation evolves, your partner should be ready to adapt alongside you.

Within Talent Solutions at Morgan Mckinley, we conduct thorough discovery sessions to understand your unique challenges. We engage stakeholders throughout the process to ensure buy-in, provide honest feedback and recommendations - even when it’s challenging - and share success stories from other clients to build confidence in a new approach.

Where stakeholders have concerns about changing talent solutions strategies, we address these by ensuring our teams immerse themselves in your culture, becoming a seamless extension of your brand. We provide market insights to inform better decision-making and strive for improved quality and delivery of cost savings. And we ensure hiring managers adhere to established processes to avoid risk. We believe in jointly recognising and celebrating achievements.

By offering this level of support, we’re able to truly change the way an organisation approaches talent acquisition – and help attract the top talent.

Why now could be the time for a rethink

Remember, talent acquisition is not just a numbers game. It’s about finding the right people who can drive your organisation forward. The talent acquisition function should help lift the morale of your organisation, communicating wins effectively to stakeholders and freeing your hiring community to focus on their core roles.

Rethinking your talent solutions strategy can be complex, but it’s necessary when the business environment is changing all the time. By identifying pain points, evaluating current solutions, setting clear objectives, and ensuring stakeholder alignment, you can create a robust case for change that drives your organisation forward.

At Morgan McKinley, we’re committed to helping organisations navigate this journey. If you’re considering a change in your talent solutions strategy, we’d love to talk through the ways we can help.

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