Because talent acquisition, the comprehensive process companies use to find and keep workers, is the foundation of any business, employers need a well-defined strategy for its implementation. Effective talent acquisition bypasses reactive recruitment in favor of proactive hiring.
High inflation, global warming, and international conflicts continue to disrupt supply chains in the wake of a multiyear pandemic. Although the personal and business hardships of COVID-19 now lie mostly in the past, discussions of possible recession still dominate the media, and many US executives are receiving significantly reduced bonus payout and performance awards (if they get any at all).
Organizations seeking new ways to attract and retain employees while staying financially stable in a volatile economy need look no further than their compensation strategies. A well-constructed compensation strategy can be a deciding factor for why employees choose a company and how it reaches its growth goals.
With workers continuing to leave jobs in high numbers, it has never been more important for organizations to understand how to hire for employee retention. Being able to identify the best fits for a company’s roles, teams, and culture and understanding candidates on a deeper level can make the difference between success and failure.