Investment Week | Board gender parity delayed to 2059 at current pace
3rd March 2020 3 minutes read
As the country moves on from Brexit and volatility subsides, the talent acquisition landscape is shifting thanks to other issues and trends. Understanding these developments can be the difference between successful recruitment and retention, and struggling for talent. Recent additions to the YPO supplier framework, Green Park, take a look at the emerging factors affecting the field in 2020.
The make-up of the workforce is changing
The demographic of the workforce has never been so broad: today, we have Baby Boomers, Generation X, Millennials and now Gen Z-ers all in employment. To maintain a multi-generational workforce, organisations need to understand what each group wants and expects. Career motives, learning styles, technology, wellbeing policies – every age group has its own priorities and perspectives. To attract and retain talent of all ages, a major re-vamp of employee propositions may be necessary. Bear in mind that Millennials are set to make up 75% of the global workforce by 2025.
Candidate experience – a growing influence
Social media and sites such as Glassdoor are giving people a platform to share their feedback in a way that didn’t exist before. When candidates get a poor recruitment experience, they get online and tell the world. One study reports that one in three job seekers has shared at least one negative review of a previous or prospective employer. And that means it’s essential that employers provide a first-rate experience – with an efficient, structured processes and engagement from start to finish.
Technology continues to change the face of Talent Acquisition
No surprise that technology is changing the face of recruitment, just as it has transformed most other industries. Job boards, social media networks, automated application systems, on-boarding – Talent Acquisition is becoming increasingly digital. Recruiters must understand the plethora of apps, software and tools, and pick the best ones for the job. With tech evolving daily, the choice is infinite and must be made with care.
The increasing demand for agile support
Whether it’s to regain control of services or to save on costs, many organisations are bringing outsourced Talent Acquisition back in house. However, not all teams are equipped for the extra workload or have the necessary skills. This is where agile partners are becoming increasingly important, offering focused, flexible support. A trusted consultant can step in to handle peaks of activity and attach to existing infrastructure, creating a versatile, capable function.
Reaping the benefits of an increasingly diverse society
Today’s richly diverse population means UK citizens offer a wealth of backgrounds, experience, skills and thinking. Statistics show that organisations which choose to hire diverse talent reap multiple benefits, from greater levels of innovation, to enhanced financial performance. In short, diversity has become a source of competitive advantage, transforming teams and cultures, and making organisations more relevant to wider customer groups. Smart recruiters have recognised its importance and are placing equality, diversity and inclusion at the heart of all they do.
A fast-evolving world
There’s no doubt that the challenges facing Talent Acquisition professionals are in constant flux. This is where a partner with breadth and depth of expertise can deliver substantial value for money. With its expert consultants, Green Park is equipped to support organisations in the battle for talent. Our People Solutions Practice is ready to help with every aspect of large-scale talent strategies.
About Green Park
An award-winning consultancy, Green Park is an approved supplier on the YPO Managing Permanent Recruitment - Lot 10 - and Recruitment Process Outsourcing (RPO) – Lot 11 - Frameworks. The business provides Executive Search, Interim Management, Board Advisory, Diversity & Inclusion and Managed People Solutions across the private, public and third sectors. Originally a challenger brand and now one of Europe’s fastest growing suppliers of recruitment solutions, Green Park is the only recruiter to feature in the 2019 Sunday Times and Virgin Atlantic Fast Track 100, charting Britain’s fastest growing private companies. To find out more, click here.