The competition for the best talent is fierce in the modern job market. This trend is unlikely to change, with a recent survey showing that about 71% of chief executive officers (CEOs) expect the talent shortage issue to continue. But why is there such a high competition rate in talent acquisition? Well, companies compete for top talent as it helps them gain a competitive edge. In fact, having the best employees drives productivity, as they are the best in what they do.
However, talent acquisition is never a walk in the park. Employees are reassessing their priorities by quitting, retiring early, establishing their own businesses, and looking for a renewed sense of purpose in their jobs. This has resulted in high employee turnover rates. Therefore, the talent skills gap has become a significant risk for organizations. As a result, human resource leaders are searching for new approaches to attract and maintain employees by harnessing real-time data and insights in talent acquisition. But how does ServiceNow help? Let’s find out.
5 Challenges of Talent Acquisition in the Modern Era
Here are some top challenges faced by HR leaders in the talent acquisition process:
1. Identifying the Right Talent
The global unemployment rate is 5.8%, with estimates projecting that about 208 million people will be unemployed as of 2023. This means every time an employer posts a job opening, they receive hundreds or even thousands of responses.Deciding the most suitable applicant becomes a major challenge. Remember, resumes may not reflect the applicant’s capability to do the job. Actually, there’s a difference between hiring the right person and the best person for the job.
So, it’s crucial to clearly outline your requirements in the job post. Also, provide a concise view of the job’s roles and responsibilities. This will help you quickly screen out applicants who are not fit for the role.
2. Hiring Fast
Talent acquisition teams want to hire the best applicant as fast as possible.However, maintaining a balance between the two is often challenging. Also, vacant positions delay operations and cost money.Depending on the sector, hiring can take up to months, exerting immense pressure on recruiters and hiring teams. The long time to hire may be due to a shortage of highly qualified candidates. Also, the hiring process may take too long due to the difficulty to reach a consensus among hiring teams. This often results in the best candidates finding opportunities elsewhere.
3. Engaging Top Talent
Exceptional and highly qualified candidates often receive hiring requests from recruiters. This makes it difficult for your hiring email to stand out. Also, candidates with hard-to-find qualifications and skills often consider multiple job offers simultaneously. So, you must put extra effort to persuade them to select your company over your competitors.4. Developing a Strong Employer Brand
Creating a strong employer brand increases your chances of attracting, engaging, and retaining better candidates. Companies that invest significantly in employer branding are 3X likely to make a high-quality hire.However, building a strong employer brand is often a complex process. It includes anything from promoting your brand culture on social media to ensuring a seamless candidate experience. Moreover, it is a continuous and collective process that requires you to step out of your comfort and obtain buy-in from coworkers.
5. Adopting a Data- and Insights-Driven Recruitment Strategy
Organizations can use recruitment metrics, insights, and data to continuously improve their hiring process. This helps them make more informed decisions. Unfortunately, gathering and processing such data can be daunting.Companies often use spreadsheets to monitor hiring data. However, this solution is prone to human error. Also, it is labor-intensive and time-consuming. Even worse, spreadsheets are vulnerable to non-compliance. This makes it challenging to accurately track hiring trends and data.
Embracing ServiceNow in Talent Acquisition
Based on these challenges, you need to embrace advanced strategies and technologies to enhance your talent acquisition process. Harnessing real-time data and insights can help is one strategy to consider to improve your hiring capabilities. It helps you attract and retain talent with the right skills to adapt to the ever-evolving business needs.
ServiceNow can help improve your talent acquisition by leveraging real-time data and insights in the hiring process.
Here are three ways in which ServiceNow can enhance your talent acquisition:
ServiceNow provides a CHRO dashboard that gives talent acquisition and HR leaders a unified view of real-time data and insights throughout the enterprise. Also, they can filter the most essential information to make data-driven talent acquisition decisions. This helps them solve hiring problems faster, ensuring the company has the right-size workforce.
If a team in one location struggles to hire diverse talent, you can act instantly. So, you don't have to keep chasing a moving target with quarterly or yearly reports.
The ServiceNow platform allows you to create efficient workflows that support your talent acquisition teams. For instance, if you need a tool for modeling candidate offers, you can quickly develop an offer calculator using ServiceNow. This helps your recruiters quickly check the candidates' offers based on local market data and anonymous comparisons.
Such tools allow your recruiters to get real-time data and insights on how different offers stack up. So, they don’t need to scroll through complex systems and spreadsheets. Additionally, it ensures objective and equitable offer packages.
Additionally, ServiceNow is working on improving, innovating, and quantifying the "quality of hire" strategies. This will help employers use the platform to focus on developing and recruiting the best talent at all levels.
· Workforce Management. Sage IT, leveraging ServiceNow, supports businesses in creating modern and sustainable work experiences with future-ready culture and flexible service models.
· Cloud Implementation. Sage IT uses ServiceNow to help companies implement modern technologies and the cloud.
· Customer Experience Upgrading. Sage IT enables businesses to redesign customer engagement with proactive solutions using ServiceNow.
· Automation. Sage IT, leveraging the ServiceNow platform, enables businesses to quickly develop frameworks supporting automation.
The partnership between Sage IT and organizations, leveraging ServiceNow for optimization, has significantly improved business operations. Business representatives have reported improved work efficiency, faster detection of issues, and automation of repetitive tasks. These positive testimonials prove Sage IT’s efficiency and experience in delivering ServiceNow Consulting solutions.
1. Gaining a Comprehensive View for Quick Action
HR and talent acquisition leaders often lack visibility into the hiring process. This results in "blind" hiring decisions, minimizing their chances of making a quality hire.ServiceNow provides a CHRO dashboard that gives talent acquisition and HR leaders a unified view of real-time data and insights throughout the enterprise. Also, they can filter the most essential information to make data-driven talent acquisition decisions. This helps them solve hiring problems faster, ensuring the company has the right-size workforce.
If a team in one location struggles to hire diverse talent, you can act instantly. So, you don't have to keep chasing a moving target with quarterly or yearly reports.
2. Simplified Hiring Process and Reduced Bias
Regardless of your company’s industry or size, you want your talent acquisition team(s) to be always efficient and productive. Also, you may wish to automate some transactional processes to ensure recruiters and hiring managers focus on more strategic work.The ServiceNow platform allows you to create efficient workflows that support your talent acquisition teams. For instance, if you need a tool for modeling candidate offers, you can quickly develop an offer calculator using ServiceNow. This helps your recruiters quickly check the candidates' offers based on local market data and anonymous comparisons.
Such tools allow your recruiters to get real-time data and insights on how different offers stack up. So, they don’t need to scroll through complex systems and spreadsheets. Additionally, it ensures objective and equitable offer packages.
3. Crowdsourcing the Best Talent
In today’s market, data and insights are not enough for talent acquisition teams. ServiceNow is looking to scale its 20,000+-person workforce to help employers map the best talent. In fact, the platform is developing new ways to discover top talent across different sectors -all based on crowdsourcing from workers and their professional networks.Additionally, ServiceNow is working on improving, innovating, and quantifying the "quality of hire" strategies. This will help employers use the platform to focus on developing and recruiting the best talent at all levels.
Sage IT’s Role as a ServiceNow Implementation Partner
Sage IT provides various ServiceNow consulting services, including the following:· Workforce Management. Sage IT, leveraging ServiceNow, supports businesses in creating modern and sustainable work experiences with future-ready culture and flexible service models.
· Cloud Implementation. Sage IT uses ServiceNow to help companies implement modern technologies and the cloud.
· Customer Experience Upgrading. Sage IT enables businesses to redesign customer engagement with proactive solutions using ServiceNow.
· Automation. Sage IT, leveraging the ServiceNow platform, enables businesses to quickly develop frameworks supporting automation.
The partnership between Sage IT and organizations, leveraging ServiceNow for optimization, has significantly improved business operations. Business representatives have reported improved work efficiency, faster detection of issues, and automation of repetitive tasks. These positive testimonials prove Sage IT’s efficiency and experience in delivering ServiceNow Consulting solutions.
Final Thoughts
Talent acquisition is a complex process. Companies must address the various challenges, such as identifying and engaging the best talent and hiring faster. ServiceNow can help you streamline talent acquisition by harnessing real-time data and insights. This will improve your efficiency in hiring the best talent. However, proper guidance and support are necessary to ensure streamlined talent acquisition with ServiceNow.
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