HR.com Study Reveals Struggle to Enhance Talent Acquisition Strategies
HR.com Study Reveals Struggle to Enhance Talent Acquisition Strategies
Key Takeaways (TLDR)
Organizations with advanced TA strategies have a critical advantage in attracting skilled candidates.
The study by HRRI reveals that organizations struggle to enhance the sophistication of their TA strategies.
Evolved talent acquisition strategies and leveraging technology can make the world a better place by securing top candidates.
TA leaders are 5X more likely to have five or more paid TA tools and technologies, making them stand out in key areas.
Why it Matters
This news matters because it sheds light on the challenges organizations face in developing advanced talent acquisition strategies. It also emphasizes the urgent need for organizations to evolve their talent acquisition strategies and leverage technology to stay competitive in today’s job market.
Summary
HR.com’s Future of Talent Acquisition 2024-25 study reveals that, despite talent acquisition (TA) being a top strategic priority for many organizations, most struggle to enhance the sophistication of their TA strategies. The study, conducted by the HR Research Institute (HRRI), highlights that only 21% of organizations rate their TA function as 'advanced' (14%) or 'world-class' (7%).
It’s good news that talent acquisition is a top-five priority for over 70% of organizations, yet most struggle to develop an advanced TA strategy. Further analysis indicates that skills shortages and competition for talent remain major challenges for recruiters:
58% cite a lack of candidates with required skills or experience.
54% are stuck in a reactive, just-in-time hiring approach.
44% report that their compensation and total rewards are below market rates, making it difficult to attract top talent.
Organizations with highly developed hiring functions, labeled as 'TA leaders,' stand out in key areas compared to their counterparts.
“These findings highlight the urgent need for organizations to evolve their talent acquisition strategies and leverage technology to stay competitive in today’s job market,” stated Debbie McGrath, Chief Instigator and CEO of HR.com.
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