Category: Talent Acquisition Strategy

2018 Q3 Global Economic Snapshot

Posted on by epadmin

The strong job growth which characterized the first half of 2018 continued in the third quarter for many of the world’s leading economies. Tangible evidence of rising wages spurred by the tight job markets began to appear in the U.S. and the UK. Employers continued to be challenged by the decreasing pool of available talent which has added to the urgency to successfully recruit and retain talent.

Solid Job Growth and Low Unemployment in Many of the World’s Largest Economies


In Q3 in the United States there were more job openings than unemployed workers to fill them, and in September, the unemployment rate plunged to its lowest level since 1969. In the UK, unemployment rates were at their lowest in more than 40 years. The U.S., UK, China, Germany and Japan all posted unemployment rates under 4 percent during the quarter. Unemployment in Australia dropped to 5.3 percent in July and held steady in August. The euro area (EA19) seasonally-adjusted unemployment rate was 8.1 percent in August. This is the lowest rate recorded in the euro area since November 2008. Individual European economies however, such as France and Italy, continued to post unemployment rates above 9 percent.


For other major economies, the results were more mixed. Canada, which had experienced healthy job growth during much of the last year, had a rise in unemployment in August which was followed by job gains in September driven by part-time employment. Brazil, Latin America’s largest economy, had an unemployment rate above 12 percent during the third quarter. While Brazil’s unemployment rate is among the highest in the Americas, it is still an improvement over the 13.1 percent rate average during the first quarter of 2018.

U.S. and the UK: Possible Signals of Wage Growth are Not Shared Worldwide


In June, the New York Times noted “The rise in consumer prices over the last year has effectively wiped out any wage increases for nonsupervisory workers…That is odd for an economy with a tight labor market, with unemployment running at a 3.8 percent…the benefits of a hot economy have not yet translated into a significant wage increase for workers.” While this article was specifically referring to the United States, slow wage growth has been the norm for the world’s wealthiest countries despite sustained low unemployment.


Wage data released during the third quarter in the U.S. and the UK suggests that real wage growth may have finally arrived. In the U.S., average hourly earnings rose by 0.4 percent in August, pushing the annual rate of increase to 2.9 percent – the fastest pace since June 2009. And in the UK, wage growth accelerated over the summer with the lowest jobless rate in more than four decades. The Office for National Statistics reported that earnings excluding bonuses rose an annual 2.9 percent in the quarter including May, June and July. In July alone, basic wages rose 3.1 percent, the most since 2015. The wage increases in both the U.S. and the UK outpaced the rate of inflation, which may have a positive impact on their overall economies.


By contrast, Canada actually saw a decrease in year-over-year wage increases during the third quarter. In August the growth rate slid to 2.9 percent after expanding to 3.2 percent in July and 3.5 percent in June. In Australia, wage data for the third quarter has yet to be reported. However, the Australian Bureau of Statistics announced that consumer prices and wage price indexes both rose by an identical 2.1 percent from the start of the year to June.

Brexit, Tariffs and the End of NAFTA


While the third quarter ended without any new clarity regarding the details of the UK’s exit from the European Union, a number of businesses, including those in the financial sector, have continued planning to move operations and employees out of the UK. The composition of the UK workforce has also started to change in response to Brexit. In August, The Office of National Statistics reported the number of European Union nationals working in the UK fell by 86,000, a record amount. This decrease was the largest annual amount since records began in 1997 and continues a trend seen since the 2016 Brexit vote. This contrasts with a rise in the number of non-EU nationals working in the UK. That number is now 1.27 million, which is 74,000 more than a year earlier. Without determining the status of EU nationals working in Britain after a final Brexit settlement, the composition of the UK workforce in both the near and long-term remains unclear.


The U.S. imposed tariffs on China before and during the third quarter. In the United States, the tariffs have led to some job losses, but when balanced against impressive domestic job gains, the extent of the impact of these tariffs on both countries remains to be seen.


Uncertainty over the future of the North American Free Trade Agreement, or NAFTA, has been a challenge for many employers in Canada, the U.S. and Mexico. Changes to NAFTA could have potentially altered the price and availability of many goods and services. After extensive negotiations among the three countries, a new trade agreement known as the U.S.-Mexico-Canada agreement, or USMCA, was announced just after the end of the quarter. The agreement must still be ratified by each country’s legislatures, but the announced new terms and rules will allow employers to resume planning and hiring forecasts which may have stalled during uncertainty over NAFTA in the 1.2 trillion dollar North American market comprised of Canada, Mexico and the U.S.

Addressing the Skills Gap: Upskilling Employees


Upskilling, or teaching new skills to current employees, is one way to address the skills shortage and current economic conditions faced by many employers. Upskilling not only provides additional skills to valued workers, it can also support their retention. As a recent article in Forbes notes:


“With the job market booming, employers should make every effort to prevent employees from job hopping their way up the corporate ladder, forcing companies to backfill positions and costing thousands in recruiting expenses and lost productivity. By investing in their employees’ education and skills training, employers not only increase employees’ value to the company but also send them the message that they are worth the investment and have a place in the company’s future.”


No matter how high a company’s retention rate may be, retirement and corporate growth require an effective recruitment strategy to attract new talent. Employers that promote the development of their employees’ skills provides a competitive advantage in attracting motivated candidates, and ultimately productive and successful employees.

Ghosting in the Workplace

Posted on by epadmin

Employers are concerned about the growing trend of candidates who don’t show up to scheduled interviews, don’t arrive on the first day of work or even quit without giving notice. This trend is also known as “ghosting” in the workplace.

“As labor markets tighten, recruiters and hiring managers say they’re experiencing a surge of workers no-showing at interviews or accepting a job only to never appear for the first day of work without explanation. Some employees are even quitting by walking out and saying nothing,” wrote LinkedIn’s Chip Cutter in an article on workplace ghosting.

What’s more, an article published by USA Today reports that 20 to 50 percent of job applicants and workers are pulling no-shows or ghosting in some form or fashion.

The ghosting phenomenon is global. “I thought it could only be in pockets of a country like the U.S., where the unemployment rate has sunk to an 18-year low,” wrote Pilita Clark in an article in the Financial Times. “When I asked around in the UK, where unemployment is at its lowest in over 40 years, I found a surprising number of victims of what is known in the online dating world as ‘ghosting.’”

To further explain what ghosting is, why it’s occurring and what your organisation can do to minimise its effects on your talent acquisition programme, we explore the phenomenon and its effects on employers.

So, What is Ghosting in the Workplace?

In the dating world, “ghosting” is the practice of ending a relationship by stopping all contact and communication with a partner without apparent warning or explanation.

The discourteous act of ghosting is no longer confined to romance; it has now entered the world of work.

Ghosting in the workplace is similar to ghosting in dating. Essentially, candidates or employees avoid having potentially unpleasant conversations with recruiters or their employers by going radio silent instead.

Instead of telling employers, “I am quitting” or “I have accepted another job offer,” some workers are thinking: “If I ignore you long enough, eventually you will take the hint and leave me alone.”

Simply put, many job seekers do not want to have an uncomfortable conversation with a recruiter or manager, so they take the easy way out by ghosting them. Ghosting in the workplace comes in many forms including:

  • No-Showing for an Interview. This occurs when candidates do not show up to scheduled interviews. This can happen for initial interviews, or interviews further along in the hiring process.
  • No-Showing on the First Day. This occurs when candidates accept a job offer but don’t show up on their start date.
  • Quitting Without Notice. This occurs when an employee leaves for the day and is never heard from again.

While job candidates and employees have ghosted in the past, what’s unique now is the practice has now become more prevalent. According to a survey conducted by Washington-based research firm Clutch, 71 percent of workers admitted to ghosting at some point in the application process. What’s more, 55 percent of the respondents said they abandon one to five applications during a job search.

Why are Workers Ghosting in the Workplace?

Some experts believe it is due to changing candidate attitudes and others believe it is a result of the booming job market and historically low unemployment. Whatever the cause, ghosting in the workplace is becoming one of the top issues talent acquisition professionals face in today’s talent market.

Change in Candidate Attitudes

In an interview with the New York Post, Rob Bralow, owner of BLVD Wine Bar in Long Island says he schedules interviews back to back because the majority of applicants simply ghost the interview.

“If I have 10 people who have confirmed interviews in a day, and three people show up, I’m happy,” Bralow says. “And we’re talking about all pay grades and positions. It doesn’t matter what the pay scale is. I’ve had ghosts [no-shows] for $50,000 to $70,000 jobs, and I’ve had ghosts for minimum wage jobs.”

Clutch’s survey found 41 percent of workers found it acceptable to ghost employers, while 35 percent found it unreasonable for an organisation to ghost an applicant. Clutch also found that of the workers that found ghosting acceptable, the most common reasons include accepting another job offer (30 percent) or deciding the role was not a good match (19 percent).

Improved Economy and Opportunities

Ghosting is not just a symptom of shifting attitudes in the workforce. It can also be the result of low unemployment.

At the height of the Great Recession, the unemployment rate reached 10 percent in the U.S. During this time, many organisations were inundated by the deluge of applications from job seekers and could not respond to every applicant.

What’s more, the global economy is expected to grow by 3.7 percent in 2018, further driving demand for talent.

As the economy and job market surge, the tables have turned. Employees are at an advantage because it’s a candidate’s job market and they have more employment options than they have in recent years.

In May of 2018, the unemployment rate reached an 18-year low of 3.8 percent. There were more job openings than unemployed workers for just the second month in two decades, according to the United States Department of Labor.

Low unemployment is not confined to the U.S., the unemployment rate in the EU has dropped to 7.1 and in the APAC region at 4.2 percent.

This means that employees have more options for employment and can move quickly from one job to the next, ignore employment offers they choose not to accept or accept multiple offers at once with little perceived negative consequences.

How to Survive Ghosting in the Workplace

Ghosting is not only frustrating for employers and recruiters, it’s also expensive. The Society for Human Resource Management (SHRM) reports the average cost-per-hire for companies is $4,129 and the average time to fill a position is 42 days. Ghosting also causes lost productivity, as hard-to-fill jobs stay open longer than anticipated.

To combat ghosting, employers can implement the following strategies:

Develop a Talent Community 

With ghosting becoming the new normal, it’s essential to be more strategic and build long-term relationships with candidates. One method of building long-term relationships is with talent communities.

Talent communities are ideal for establishing long-term professional relationships with passive talent for future opportunities. This means getting to know the talent landscape and candidates regardless of whether or not they are looking to make a career change immediately.

Developing a talent community requires organisations to shift from reactive recruiting to a more proactive approach. Your organisation’s mindset should switch from recruiting to fill an open position to thinking about who your organisation should hire in the future.

By sourcing candidates earlier in the hiring process, you have ample time to engage them and develop closer and more personal relationships, reducing their likelihood of ghosting.

Tips for building a talent community include:

  • Determine what roles you want to target for your talent community (usually roles with high turnover or roles that are hard-to-fill.)
  • Look to past candidates, former employees and interns to build your talent community.
  • Source passive candidates by combining various sourcing techniques (e.g. social media, networking events, etc.)
  • Engage candidates through recruitment marketing until you have an open role for them.

Building a talent community isn’t a short-term strategy and takes time to develop and nurture, but in the long term the benefits are worth the investment and can help offset ghosting in the workplace.

Evaluate Your Onboarding Process

While candidates ghosting job interviews can be a challenge, candidates who ghost on the first day or who resign their position without notice can wreak havoc on an organisation.

To curb and deter this behaviour, organisations should start the onboarding process early to build an emotional connection with new hires.

In fact, according to research conducted by Inavero, 77 percent of candidates are willing to accept an offer that is 5 percent lower than their expected offer if the employer created a great impression through the hiring process.

That is important because new hires decide to stay or leave a job within the first three weeks, according to a study by the Wyndhurst Group.

Despite the fact that it can take a year or longer for a new employee to reach full productivity, only 15 percent of organisations extend their onboarding past six months, according to SHRM. If employers want to keep their new hires from ghosting, they should consider extending their onboarding processes through the first year of employment. Here are some ideas for successful onboarding techniques at different key points throughout an employee’s first year.

  • Before start date: Prior to a candidate’s first day, reach out with friendly messages welcoming the new employee or sharing an introduction to some of the benefits your organisation has to offer.
  • On the first day: When the new hire arrives for their first day, be sure they are personally introduced to their coworkers and designate a point of contact who will be readily available to answer questions.
  • The first six months: Now that the new hire has learned the ropes, continuous feedback is what is going to help them hone their skills, catch mistakes and take corrective action when needed. This is also a great way to establish rapport and trust with the rest of the team.
  • After the first year: After the first year, managers should start having conversations about a new hire’s future within the organisation and their career development as a way to show the employee that the organisation is invested in their continued success.

Conclusion

No one can say for certain if ghosting in the workplace is a trend that is here to stay or if the emergence of an employer-friendly job market will curb it. But one thing is certain; candidate’s attitudes have changed, so organisations need to take steps to adjust.

By building strong talent communities and engaging new hires early and often, you can better position yourself to reduce the likelihood of candidates and employees ghosting you.

Expanding the Talent Landscape by Recruiting Virtual Employees

Posted on by epadmin

With very low unemployment in many of the world’s major economies, those seeking to attract talent should explore the benefits of recruiting employees that work from home. Since a number of these countries, such as the United States and the UK, are considered to be at “full employment,” where nearly everyone who wants a job has a job, the traditional formula of recruiting in the market where a company is located may no longer be as effective as it has been in the past. And since the top reason for quitting a current job is to increase wages, employers face the challenge of meeting candidate expectations for higher pay based on local salary ranges.

While remote work may not be viable for some positions, expanding the pool of candidates outside a specific geographic area allows employers to take advantage of the growing trend in telecommuting as well as potentially reduce attrition, decrease cost-per-hire and even improve productivity.

The Virtual Workforce is Substantial (and Growing)

A study by Global Workplace Analytics and FlexJobs released earlier this year reported that 3.9 million U.S. employees, or 2.9 percent of the total U.S. workforce, currently work from home at least half of the time. This number is up from 1.8 million in 2005, an increase of 115 percent. And as of 2017, 43 percent of U.S. workers worked remotely at least occasionally, up from only 9 percent of workers in 2007.

Growth in remote work is not limited to the United States. In the UK, one in seven people work from home, according to the Office for National Statistics. In Canada, nearly half (47 percent) of employees work from outside one of their employer’s main offices for half the week or more. And in Australia, the number of people who work from home has risen to 30 percent. The significant percentages of telecommuters is not the case for all economies. Eurostat reported earlier this year that working from home was slightly more common in the Eurozone than in the EU as a whole. And some non-Eurozone countries have a negligible virtual workforce. Bulgaria has only 0.3 and Romania just 0.4 percent of its workers working from home, as an example.

A Deloitte study on Global Human Capital Trends reported that 70 percent of employees value telecommuting, but only 27 percent of employers offer this option. Therefore, companies that provide opportunities for telecommuting may have a competitive advantage in attracting talent.

Reducing Employee Turnover and Increasing Productivity

While study results vary, there is evidence being offered that working from home can increase employee retention. One study by OwlLabs found that companies that support remote work have 25 percent lower employee turnover than those that don’t.

A study conducted by a Stanford University professor set up a control group between office-based workers and those were allowed to work from home. As the Harvard Business Review reports:

“Half the volunteers were allowed to telecommute; the rest remained in the office as a control group. Survey responses and performance data collected at the conclusion of the study revealed that, in comparison with the employees who came into the office, the at-home workers were not only happier and less likely to quit but also more productive.”

The professor noted that “The results we saw at Ctrip, (the company studied, which is the largest online travel agency in China and the owner of other travel sites worldwide including Trip.com) blew me away. Ctrip was thinking that it could save money on space and furniture if people worked from home and that the savings would outweigh the productivity hit it would take when employees left the discipline of the office environment. Instead, we found that…Ctrip got almost an extra workday a week out of them. They also quit at half the rate of people in the office—way beyond what we anticipated. And predictably, at-home workers reported much higher job satisfaction.”

Providing the option of working virtually can be a crucial factor in retaining valuable talent. If an employee needs to relocate temporarily for family reasons, such as caring for an older parent, or permanently due to a spouse’s job transfer, the employee can remain with the company by working remotely. Having this option available allows the employee to remain with the organisation while the employer retains experienced talent and saves the costs of hiring and training a new worker.

Cost Savings for Employers and Employees

This same Stanford study showed that the company saved $1,900 per employee working from home over nine months. Remote workers allow employers to save money on furniture, parking, office space, insurance costs and other expenses. Global Workplace Analytics’ research shows that a typical employer can save more than $11,000 per year for each half-time telecommuter, the result of a combination of increased productivity and reduced real estate, turnover and absenteeism.

The cost benefits of remote work also extend to employees. Those working remotely save on commuting expenses, depreciation on their vehicles if they drive and gain the time back that would normally be spent going to and from work.

Can Remote Work Be a Solution for Your Business?

The difficulties of recruiting locally and the potential returns of developing a remote workforce may be attractive, but it is also uncharted territory for many companies. How would you source candidates throughout the nation and even beyond? Can you develop recruiting processes, including interviewing, that are effective using video and other tools if you have only relied on face-to-face meetings until now? And once a candidate is hired, how will you manage the onboarding process remotely? The answers to these and many other questions confronting a company exploring a remote workforce option can be provided by a recruitment process outsourcing company (RPO). An RPO can provide the experience, technology and expertise to ensure your success as you remove the geographic limits of your talent pool.

Talking Talent: How RPO Can Solve the Top Challenges in Healthcare Talent Acquisition

Posted on by epadmin

In this episode of Talking Talent, we discuss how RPO can solve the top challenges in healthcare talent acquisition.

The Bureau of Labour Statistics projects that healthcare occupations in the U.S. will grow 18 percent between 2016 and 2026. With this growth and staffing shortages that are already common in the industry, healthcare organisations face new challenges sourcing, recruiting and retaining top talent. To cope, healthcare organisations are increasingly turning to RPO providers that can act as an extension of a healthcare organisation’s HR department to source and hire top talent.

At PeopleScout, we’ve recently expanded our healthcare solutions to help clients compete more effectively in the intensifying race for healthcare talent.
As part of this expansion, Brett Bryner joined the PeopleScout team. Brett is our healthcare workforce leaders who brings decades of insight-driven strategy and talent intelligence. Brett creates customised solutions for both clinical and non-clinical healthcare talent acquisition needs that support full-cycle, partial-cycle, project-based and total workforce engagements. In this episode, he talks about the top challenges in healthcare talent acquisition and the specific ways an RPO provider can help.

In this episode, Brett shares expertise about topics including:

  • Employee turnover
  • Talent shortages
  • HR Technology
  • Candidate Expectations
  • And more

How the Skills of the Future Will Impact Enterprise Recruitment Teams

Posted on by epadmin

Technology is disrupting nearly every industry, at a pace that has never been seen before. As we shared in our earlier article on how to create a workforce equipped with the skills of the future, this pace of change means that employers need to take a proactive role in ensuring their workforce is prepared for this change. As in-demand skills shift towards prioritising complex problem solving, critical thinking, emotional intelligence and creativity, workforce leaders need to rethink the way they are acquiring talent.

We’ve explored the pending change of skills in the workplace and its impact on employees, but what does this mean for an in-house recruiting team? As roles are redefined and employers move from traditional job descriptions to skills-based definitions, traditional recruiting teams must learn to adapt.

In this article, we’ll examine the need to change the way jobs are defined and categorised to attract the right talent, how the shifting candidate experience drives continued focus on digital sourcing and recruiting strategies and what these changes mean to in-house recruiting teams.

Changing Skills in the Workplace and the Impact on Recruiting Teams

Jobs are being redefined, which impacts the way recruiting teams must work to find the best candidates. How can internal recruiting teams that have traditionally been aligned to specific business units adapt to meet the needs of workforce 4.0?

  • Some companies are realigning their recruiting teams away from business units to talent segments, where they focus on recruiting for a specific skill set
  • Others are outsourcing select talent segments to RPO providers for additional support and expertise
  • Other employers are moving from job-based recruitment to skills-based recruitment

The shift towards aligning recruiters with specific skills creates a challenge for in-house recruiting teams, which may not have the bandwidth or ability to shift to this model. In-house teams are struggling to keep up with the pace when recruiting for a large variety of roles and skill sets, as the number of jobs being redefined to adapt to new skills increases. Analysis of some in-house client teams show time-to-hire is actually increasing as teams find difficulty with new skills and unique roles to fill.

The digitisation of work is also having a major impact on recruiting. It’s difficult for enterprise recruiting teams to keep up with the pace of change in talent acquisition and HR technology. Recruitment teams have access to more technology, which should increase productivity and improve the quality of candidates. But in truth, it can be overwhelming. The HR technology marketplace is valued at more than $14 billion, and new technologies continue to enter the space.

As employers continue to shift their recruiting processes to keep up with the pace of change, many are turning to outsourced providers, like RPOs, to help with talent segments they’re having trouble with. Partnering with an outsourced firm also brings access to improved talent technology. At PeopleScout, for example, our Affinix™ technology is equipped with AI, machine learning and predictive analytics tools that enable our clients to connect with the best talent faster. We are also continuously evaluating and implementing new tools and features, so our clients are on the cutting-edge of emerging technologies in the marketplace.

Changing Candidate Experience: Ways to Engage with Candidates Online

Employers need to contend with changing candidate expectations in addition to adapting their jobs for the skills of the future. Candidates today want benefits like flexible working hours and virtual work opportunities and have in-demand skills that translate across multiple job categories. And, candidates today have more options than ever. With very strong job growth and low unemployment in many of the world’s leading economies, it is becoming a more candidate-driven job market every day.

How do you find these candidates of the future? Employers need to shift their employment branding strategies to fit the digital era.

Many employers invest large amounts of time and money in their career sites and application process, however most candidates are not finding your career site organically and the application process is often still cumbersome and slow.

While it is critical for candidates to have a good experience when they hit your career site, you need to first find and reach candidates where they are. With the rise of Amazon and other personalised online retail experiences, candidates expect to be treated like a consumer throughout the recruiting process. Recruitment marketing tactics must evolve to meet these requirements, with career sites recommending jobs to candidates the way online retailers recommend products to consumers.

Developing candidate personas can help employers understand exactly who they are targeting. With the candidate in mind, you can develop targeted digital advertising campaigns, post positions on specialty job boards and develop recruitment marketing content to guide candidates through the application process.

It is also critical to closely monitor job rating sites. A poor candidate or employee experience can result in a loss of candidates due to negative reviews on sites like Glassdoor and Indeed. A positive review, on the other hand, can be more meaningful as it is coming straight from an unbiased individual, rather than a company career site.

The right talent acquisition technology tool can also help provide a superior candidate experience.

  • AI-enabled sourcing tools help recruiters find the best candidates faster.
  • A streamlined application process can allow candidates apply with just one click.
  • Personalised recruitment marketing tools like chatbots, SMS messages, email campaign and individualised landing pages provide candidates with the consumer-like experience they have come to expect online.

Why Turn to Outsourced Recruitment?

When enterprise recruiting teams are struggling to implement technology or source the right candidates for positions requiring new skills, some employers bring in a talent partner to focus on specific job functions or skillsets. Talent acquisition leaders are turning to RPO providers for their expertise in hard-to-source talent segments. They’re also looking for a partner who can bring the right technology to improve sourcing and hiring metrics. Visit our website to learn more about PeopleScout’s RPO solutions.

The Value of Globalising Your Recruitment Strategy

Posted on by epadmin

As competition for talent increases, it is increasingly important for international organisations to build recruitment strategies that are consistent across the globe. One factor driving this shift is falling unemployment around the world. The U.S., China, Japan, Britain and Canada all have unemployment rates at or below 6 percent – with the U.S., China and Japan at or below 4 percent. This makes it difficult to find and attract top talent in these economies.

Leaders are concerned about the growing competition for talent. According to PwC’s 21st CEO Survey, which collects data from leaders around the world, 80 percent of CEOs say they’re worried about finding talent with necessary skills. Additionally, 54 percent say they plan to increase the headcount at their organisation over the next year and 57 percent believe global growth will improve over the next year.

To support growth and remain competitive in sourcing and recruiting the best workers, organisations need to build a comprehensive global recruitment strategy. An overarching global recruitment strategy covers recruitment marketing and employer branding, candidate experience and onboarding around the world.

In this blog post, we will cover the benefits of a global recruitment strategy and the building blocks employers need to be successful.

Benefits of a Global Recruitment Strategy

Improved quality of hire

An effective global sourcing strategy enables employers to make a better cultural match and increases the potential of finding the right candidate with the right skills.

Increased diversity and greater cultural literacy

Employers are able to speak to and attract candidates regardless of country through a consistent global recruitment strategy. If the recruitment process is optimised for one country or weaker in different parts of the world, an employer will see the overrepresentation of some candidates and underrepresentation of others. By deploying a truly global process, employers will be able to attract and hire a more diverse slate of candidates. Increased diversity has a host of benefits including improved productivity and higher levels of employee engagement. Diverse employees also bring an increase in cultural literacy to an organisation.

Better ability to source candidates with skills of the future

A global recruitment strategy can help employers source candidates with the skills of the future. Automation is changing the way we work, and different areas of the globe are adapting at different paces. According to PwC, 94 percent of CEOs in China are worried about finding candidates with the right skills compared to just 51 percent in Canada. With a global recruitment strategy, HR professionals can adapt candidate personas from around the world to ensure they are sourcing talent with the necessary skills and identifying new ways to target candidates who fit these personas.

Components of a Global Recruitment Strategy

Employment brand

The first step of implementing a global recruitment strategy is building an employment brand that is truly global. Many employers, especially those in the B2B space, don’t have a strong consumer brand. Without a strong consumer brand, most organisations need to rely on their employer brand to attract talent. There are many ways for an organisation to build its employer brand, including developing employee ambassadors, using social media and digitising brand strategy while putting mobile first.

When implementing a global recruitment strategy, organisations need to build an employer brand that is effective across the world. It is important to work with local employees to ensure employer branding and recruitment marketing campaigns are culturally appropriate in each region in which an employer recruits.

To accomplish this effectively, HR should work with marketing, so the strategy is aligned with and deployed alongside traditional marketing messages.

Candidate experience

A strong end-to-end candidate experience is important regardless of where candidates are from. Candidates around the world want mobile-friendly applications that are fast and easy to fill out, well-written job descriptions that engage candidates and convince them to apply, positive interview experiences and consistent communication.

Employee referral programme

The process should also include a strong employee referral programme for each country as employee referrals account for nearly a third of all hires, according to SHRM. It is important to ensure an equivalent referral bonus in each country. The amount should be based on a percentage of the average income in each location. If referral bonuses are too varied in different countries, it can make employees in one location feel less valued.

Consistent onboarding process

The onboarding process should also be as consistent as possible in each location. According to SHRM, 69 percent of employees are more likely to stay with a company for three years if they experience great onboarding. While some countries have exceptions, like requiring a new hire to come into the office for a signature before the start date, but otherwise the process should be as consistent as possible. At PeopleScout, we standardise, document and create global job contract repositories to make our clients’ onboarding processes more efficient and compliant.

Standardised technology

When building a global recruitment strategy, it is important to standardise technology as much as possible across the globe. While there are exceptions, like Russia where, by law, you need to have an ATS on the ground in the country, you should use the same technology systems wherever possible.
A centralised technology system for all global locations gives you better data and a better view of your entire workforce. This gives you the ability to better spot trends and make strategic decisions.

Global labour market data analysis

If the talent market starts to tighten in one part of the world, you can easily see how your workforce compares throughout the region and other areas of the world. That insight can be used to make high-level business decisions. For example, a PeopleScout client was looking to hire Norwegian speakers in a central European country. After analysing the market data, PeopleScout provided recommendations for better locations outside of Norway where the client could find more candidates who met their requirements.

Finding a Global RPO Partner

A global RPO provider can be a valuable partner in developing a global recruitment strategy because you benefit from the wealth of knowledge and experience they gain through working in different industries around the world. As you look for a partner, it’s important to ensure that they have experience in the parts of the world where you’re looking to hire candidates.

Your partner should help you navigate the compliance and cultural issues that accompany any global sourcing programme. While some local labour laws deal with issues that happen after the hiring process, remember that they can have implications during the hiring process too. An RPO provider can help prepare you for many of the challenges before you post a job or extend an offer. Additionally, a partner with years of experience can help you anticipate any communication and training issues so that you can tackle the issues head-on.

If you are considering building a global recruitment strategy, read more about our global RPO solutions.

How to Leverage Workforce Analytics and HR Data in Workforce Planning

Posted on by epadmin

According to a survey conducted by Harvard Business Review, 15 percent of respondents said they use “predictive analytics based on HR data and data from other sources within or outside the organisation,” while 48 percent predicted they would be doing so in two years.

While organisations are increasingly incorporating data into the HR mix, there are still areas for improvement and to further adopt workforce analytics. Below, we outline some of the best practices for building an analytics-oriented workforce planning programme along with some of the analytics processes essential for success.

Building an Analytics-Oriented HR Data Team

Organisations need to solicit input from a variety of stakeholders like talent acquisition programme managers, human resource leaders, data specialists, budget and finance leaders and IT specialists to create a multidisciplinary team. When building your team, considering the following:

  • Does your organisation have an individual with experience and expertise in data analysis with the leadership skills to manage a workforce analytics team?
  • Does the team you have assembled include analysts with data management, statistics and data visualisation skills?
  • Do you have your IT department’s support to choose the right tools to integrate HR data with other data sources in the organisation?
  • Can your team confidently present data-oriented solutions to senior leadership even if the solutions are counter to past workforce plans?

Collecting the Right Data

Collecting essential data points is a key step in a data-driven HR programme. The data needed for analysis may come from multiple divisions within an organisation. Organisations need to communicate the importance of sharing data with leaders organisation-wide. Evaluating current internal HR data can help organisations identify future needs and draft a workforce strategy around them. Below is a list of data needed for workforce analytics.

Internal HR data:

  • What are the demographics of the current workforce? (Gender, ethnicity, disabilities, full/part-time, etc.)
  • How many people work in each position?
  • Where are positions located?
  • What is the employee to supervisor ratio?
  • What are the pay rates of current employees?
  • What is the likelihood of attrition through retirement?
  • What recruitment activities have been completed in the last two to three years?
  • What recruitment activities and resources were used?
  • How many qualified applicants were found?
  • Where did the most qualified applicants come from?
  • What do new employees think of your recruitment practices?
  • How many employees are needed to fill each position?
  • What knowledge, skills, competencies and abilities are needed to perform anticipated job functions?
  • What processes could be done more efficiently or effectively?
  • What are the organisation’s strategic objectives?
  • What are the organisation’s diversity objectives?

External Data Sources

Many organisations have inward-focused approach to workforce analytics and HR data and do not take into account what is going on outside the organisation. The labour market is rapidly changing. Labour market data can inform organisations about talent supply in different locations and provide critical market intelligence on issues like competitiveness and salary range.

Data and job projection reports from the U.S. Department of Labour’s Bureau of Labour Statistics, for example, can lead to a better understanding of the supply and demand for essential occupations and the competitiveness of the job market.

Putting HR Data in Action  

Organisations should take the insights gained through workforce analytics initiatives and develop a workforce plan to fill the gaps between current and future hiring needs. Some strategies and considerations when drafting a data-oriented workforce plan include:

  • Plan for employees to receive skills training when needed to prepare for changing roles within the company.
  • Hire and retain employees with skills that are critical to the success of the business.
  • Create programmes focused on employee retention.
  • Increase efficiencies in recruitment and hiring processes by proactively identifying vacancies through succession planning and forecasting future business requirements.
  • Identify training needs, classification and compensation issues, organisational or position changes that may affect employee retention.
  • Create workplace diversity strategies to reach organisational diversity goals.

Managing a Workforce Analytics Programme and HR Data

Workforce analytics is a continuous process that is highly susceptible to changes in the economy and labour market. To stay on top of new developments, organisations need to ensure their workforce analytics process is managed properly. Below, we share advice on how to best manage a workforce analytics programme.

Prioritise Business Goals

For workforce analytics to drive real value, it has to be aligned with an organisation’s business goals. Everyone contributing to workforce analytics process needs to be briefed on the overarching business strategies, so they can understand how their analysis contributes.

Common workforce goals include:

  • Reduce turnover on a particular team or organisation-wide
  • Retain high-performing individuals
  • Improve staffing and recruiting efficiency
  • Lower the cost of operations
  • Ensure the organisation has talent aligned to expansion plans or planned new product offerings

Stakeholder Management

Because workforce analytics involve stakeholders from HR, finance, IT and others within an organisation, clear and open communication should be emphasised early in the process. This will help stakeholders and their teams understand expectations up front and establish relationships between teams for success.

Data Quality

At the start of a workforce analytics initiative, it makes sense for organisations to conduct basic data hygiene practices like assessing the quality of data, gauging the need for data clean-up and documenting data-gathering and reporting processes.

Data Governance

Because employee data is personal, privacy rules must be respected. Proper data governance should be the responsibility of everyone involved in workforce analytics. However, someone should be assigned ownership to ensure that data and HR teams are following the processes established for data security.

Flexibility

Economic and business climates are not static; even the best workforce analytics programme may miss emerging talent shortages or inadequately take certain contingencies into account. To make sure workforce analytics programme reflect the latest internal and external developments, organisations should regularly re-calibrate and revise assumptions made from previous HR data analysis.

RPO Providers Can Assist Organisations with Workforce Planning, HR Data and Analytics

There is no one-size-fits-all workforce planning programme, even for global organisations that have similar needs. What’s right for one organisation may not be what another organisation needs.

However, workforce planning does not have to be mysterious or complex. Organisations more than likely have a lot of the data they need, it is just a matter of creating the right management and reporting practices to interpret the data in meaningful ways.

The right RPO partner can help organisations make sense of their workforce analytics with their experience and deep understanding of labour market data and trends. An RPO partner can also work with an organisation to create methodologies adapted to suit their needs. Click here to learn more about PeopleScout’s RPO solutions.

Strategies for Building an Effective Talent Community

Posted on by epadmin

Competition for talent is increasing across the globe, and employers are looking for innovative strategies to stay ahead of the competition. To gain a competitive advantage, employers are deploying a variety of methods. Wages are on the rise after years of slow growth. New graduates face strong prospects for employment. Even retirement is starting to look different for older workers with important skills. Finding new ways to source and attract workers with the skills of the future is a growing need.

In the U.S., years of job growth have led to the lowest unemployment rate in decades. Around the world, favorable job conditions are making it more difficult for employers to hire the talent they need. Adding to the challenge, employers are facing a skills shortage as they look to hire candidates who have the training, education and experience to bring their workforce into the future. This pressure is even greater in industries that are currently adapting to disruptive technology, like the auto industry. While reskilling and future degree programs can help increase the size of the talent pipeline in the future, employers still need to find and hire talent today. Building a talent community is a promising solution.

What is a Talent Community?

A talent community is a sourcing strategy that is an ongoing, multifaceted approach to candidate engagement that creates employment brand ambassadors and a talent pool that begins to feed itself. A talent community is a process rather than an event and takes continual effort to maintain.

Traditional sourcing starts with a job opening. From there, a job description is written and disseminated. A sourcing specialist may search their contacts and social media to find a candidate with skills that match, but the process largely involves posting a job and waiting for the right candidate to find you.

In a talent community, the process is cyclical. It starts before a job requisition is created, and it doesn’t stop when a candidate is hired. Employers consistently build profiles of the types of candidates they would like for roles they may need to fill in the future. Then, employers need to build pipelines through technology, partnerships and employer branding initiatives to connect with those people, whether the employer currently has a job opening for that candidate or not. Finally, when a candidate gets to the point of applying, the experience throughout that process needs to be so strong that even candidates who do not make it through the process will become ambassadors for that brand and continue to apply for open positions in the future.

Building a talent community sourcing strategy has a host of benefits for employers. A talent community is sustainable. It can feed itself. This means decreased time-to-fill and cost-of-vacancy because candidates who are interested in working for an organisation are waiting for a job to be posted rather than a recruiter posting a job and waiting for the right candidate to apply. It also leads to increased quality of hire because the employer has already determined the ideal candidate persona and has built a pipeline to find those people. When more qualified candidates are in that pipeline, the likelihood of making a strong hire goes up.

Why Talent Communities Alone Aren’t Enough

  • They have to be combined with great employer branding.
  • Your content has to be engaging and of value to the audience.
  • You have to have the right mix of viable candidates with the skills and experience that your company values, and ambassadors for your employer brand.
  • It is what you put into it, not what you take out–you have to cultivate the community or it will stagnate.

Using Employer Branding to Build a Talent Community

As employers work to create a talent community they need to build an employer brand that stands out from other organisations they compete with for talent. Organisations with a strong employer brand can stand out in a crowded landscape and draw in more candidates. There are several strategies employers can use to build their brands.

Online Talent Communities

An online talent community is a way to continue to communicate with candidates who may be interested in working for you in the future but can’t find a job opening that meets their skills and needs right now. It is also a way to engage with candidates who apply to jobs they aren’t qualified for yet but still have potential. An online talent community allows candidates to provide their contact information, resume and job interests. Then, the organisation can search those resumes when a position opens, and it can send matching job openings to the candidate. This keeps the employer at the front of a candidate’s mind and provides recruiters with a slate of candidates every time a requisition opens.

Recruitment Email Marketing

Many organisations use email marketing as a part of their traditional marketing strategy, but it is also important in employment branding. Email marketing can be used in partnership with an online talent community. Organisations can send recruitment marketing emails to share job openings, as well as information about their culture. One caveat to using email marketing as a part of an employer branding strategy is that the emails should be as personalised as possible. A candidate who has provided their resume should only receive job openings that correspond with their skillsets. Data about candidates can also be used to personalise how often candidate receive emails or at what time of the day they are sent. Regulations like CAN-SPAM in the U.S. and GDPR in the EU regulate email marketing, and we discuss those later in this post.

Social Media

Every organisation should have a strategy for sharing its employment brand on social media, though that strategy may look different for different companies. One option is to create a separate “careers” social media page where the organisation can post job openings and information about the workplace, culture and current employees. At PeopleScout, we recommend this strategy to our clients and work with them to optimise their existing pages to showcase their employer brand. This strategy works well for employers with a strong brand presence and large volume of hires. Another option, especially for smaller organisations, is to include some employer branding on their traditional social media accounts. In this approach, employer branding related posts that share information about the workplace and culture should be interspersed between standard social media posts.

Video

Many employers are familiar with video interviewing, but video can enhance employer branding in several additional ways and doesn’t always need high production quality. One example is video job descriptions. A job posting could include a short video of a hiring manager talking about the job and what they are looking for. A video like this gives a candidate a better understanding of the job and gives them a glimpse into the culture of the organisation. Additionally, organisations can use video to show workplace tours, so job seekers get an idea of what working for an organisation might look like. If an organisation is hiring for a lot of entry-level roles but frequently promotes within the company, a video that shows an employee’s career path from entry-level to a leadership role can also motivate candidates to apply for hard-to-fill entry-level jobs.

Chatting and Text

Another method of building a strong employer brand is communicating with candidates in the ways candidates want to communicate. Chat and text are growing in popularity. Some employers are deploying chatbots throughout their recruitment process. For others, a chat window with limited hours but access to a live recruiter can be successful. While many employers may be cautious to start a system to text messages candidates, several PeopleScout clients have found success and higher rates of candidate engagement.

Using Innovative Technology to Power a Talent Community

While a compelling employer brand is important for attracting strong candidates, it’s not enough to stay ahead in the current competitive landscape. Innovative technology solutions can help employers source top talent faster than the competition.

Geofencing

Geofencing can be used in a few different ways during the sourcing process. Much like targeted ads for restaurants or stores can be delivered to a person’s cell phone or computer based on where that person is located, job ads can be targeted to candidates in a specific geographical area as well. This can be valuable to employers that have a variety of locations spread across a large geographical area. Geofencing can be used to target job ads at candidates near specific branches. It can also be used for industry events or expos where a large number of potential candidates could be in one location at the same time.

AI Sourcing

Artificial intelligence sourcing can provide recruiters with a solid slate of candidates as soon as a requisition is opened, giving the recruiter a strong head start to fill the role. An AI sourcing solution that uses predictive analytics modeling can also provide the recruiter with information about how well the candidate matches the job opening and how likely the candidate is to leave their current role. With this information, recruiters are able to work more quickly and efficiently, filling the role with the best talent in less time. In the end, it saves companies time and money. At PeopleScout, AI sourcing is built into AffinixTM, PeopleScout’s proprietary talent technology solution.

AI Data Tracking

AI data tracking can be used to make other sourcing and employer branding strategies more effective. Artificial intelligence and predictive analytics can understand and predict candidate behaviors. By tracking what time of day candidates apply, open emails or use social media, employers can schedule email marketing and social media posts to maximise the number of candidates who will see and click on job postings. Employers can also use this data to optimise their ad spend on job boards, so the ads appear when the best candidates are most likely to be online. One PeopleScout client had data that showed most of its applicants applied after lunch on Wednesdays. By posting jobs just before that timeframe, the employer saw a 15 percent increase in applications.

Finding a Partner

As employers work to build their own talent communities, an RPO provider can be a valuable partner. The right RPO partner will have a wealth of knowledge gleaned from experience solving a wide variety of problems and successfully sourcing and recruiting in a number of markets and industries. Employers can benefit from that collective knowledge.

Additionally, working with an RPO partner provides compliance benefits. Many of the sourcing strategies addressed in this article are impacted by GDPR, CAN-SPAM and other regulations, as well as regulations by the OFCCP. RPO providers have years of experience with these regulations and strong checks in place to ensure all sourcing strategies are compliant. This can provide peace of mind for employers.

Employers working with RPO partners will also see financial benefits, including reducing or eliminating agency spend. At PeopleScout, some clients have gone from agency usage as high as 25 percent or more to zero. To accomplish that, employers need to be committed from the top down to building the sourcing infrastructure to implement a talent community.

To find an RPO partner who is a good fit, employers should look for providers who possess customisable offerings that can be adapted to meet every need. A one-size-fits-all approach ignores the specific needs of employers in different industries and the unique challenges that can arise in recruiting in different markets. To build a strong talent community, employers should look for an RPO partner who can successfully deploy and manage these innovative sourcing strategies.

Removing Barriers to Employment for the Long-Term Unemployed

Posted on by epadmin

With record low unemployment rates in the U.S., the UK and other leading economies, recruiters seeking to attract talent may assume that everyone who wants a job already has one.

However, this not the case, even in the strongest job markets. In the United States, the long-term unemployed are defined as those who have been out of work for 27 weeks or more and are searching for work. In May 2018, when the jobs report numbers were so good that reporters ran out of words to describe it, nearly 1.2 million individuals had been out of work and seeking employment for more than six months. The long-term unemployed made up 19.6 percent of all unemployed Americans and May was the first month that this percentage fell below 20 percent since the Great Recession.


During an economic downturn, the primary cause of long-term unemployment is simple: there are not enough jobs to employ those who want them. With the robust job growth over the last year, the ranks of the long-term unemployed in the U.S. have fallen by one third. During times of economic growth, causes of extended joblessness can often directly be addressed and remedied by employers.

Minding the Resume Gap


Imagine being a qualified job candidate who has been unemployed for nearly a year. After months of disappointment, a job comes along that looks like a perfect match. The candidate is excited to fill out the online job application, but when they reach the job history section, they see: “Please provide the start and end dates for all of your jobs. If there is a gap of more than six months, please provide an explanation.” These types of questions related to job history can be used (or perceived to be used) as a way to disqualify candidates.


The Deloitte Handbook A Guide to Recruiting and Hiring the Long-Term Unemployed recommends removing filters and screening procedures that ask for dates of last or current employment and automatically eliminate unemployed and long-term unemployed applicants. It also recommends confirming that Applicant Tracking Systems do not screen out resumes based on employment status.

Avoid Date Limits on Valuing Experience


A candidate who has been unemployed for an extended period may possess years of valuable experience and required job skills. It is important for employers to consider whether their recruitment process gives undue weight to recent expertise over cumulative experience gained over the lifespan of a career. Recruitment processes should also be checked for any potential bias against older applicants. An OECD study found that incidence of long-term unemployment increases with age throughout many developed economies.

Addressing the Jobs Skills Gap


A lack of in-demand skills can be a cause of long-term unemployment. There are many resources for those with extended joblessness to receive training in marketable skills. Employers can build relationships with these agencies as part of their recruitment programme to target the long-term unemployed. In the UK, skills training can be included as a standard benefit offered to the long-term unemployed. In Australia, the government offers programmes which include training for young people and others who either have or risk having long periods of unemployment. Job training services are also provided by Canadian provinces and by state and local governments in the United States.


There are numerous local initiatives in which businesses combine with non-profit agencies to provide skills in an effort to fight all levels of unemployment. Employers can work closely with these agencies to source available talent (often at reduced sourcing costs) and even partner with them as part of their community engagement efforts.

Reaching the Hard to Reach Talent


Individuals without strong job seeking skills can have their period of unemployment unnecessarily extended. For example, the process of finding a job 15 years ago was completely different from today. Reaching candidates whose experience and skills may add tremendous value to your organisation requires specialised expertise in sourcing that may not be readily available in many human resources departments. Several leading employers have turned to Recruitment Process Outsourcing (RPO) companies to successfully attract and recruit hard to reach talent.

Worth the Effort


For many companies, the incentive to attract the long-term unemployed may be to meet a need to recruit the last pool of available talent in a tight labour market. However, hiring those with extended unemployment can potentially be a valuable tool in retaining talent, which is critical in today’s economy. The Deloitte handbook cites a White House study that found that companies that hire the long-term unemployed experience higher retention rates and greater workforce loyalty. Given the potential for talent attraction and retention, employers who remove barriers for the long-term unemployed may gain an unexpected competitive edge in an increasingly challenging market.

Changing Workforce Demographics: Aging Talent

Posted on by epadmin

An Aging Workforce in an Aging World

For the first time in history, the majority of people on earth will live to 60 years of age and beyond. This is true in high, medium and low-income nations. People are not only living longer, but they are working longer. In the U.S., 23 percent of workers are aged 55 and older. Over one-third of Canadians over the age of 55 are still working and in the UK, workers over 50 comprise 27% of the workforce. In Australia, labour force participation, (those working or actively looking for work), for those 55 and older has never been higher. The demographic shift towards an aging workforce brings both unprecedented opportunities and challenges for organisations that want to attract and retain talent.

A Talent Ticking Time Bomb?

The Deloitte 2018 Global Human Capital Trends Study notes that “population aging poses a workforce dilemma for both economies and organisations. Thirteen countries are expected to have ‘super-aged’ populations—where more than one in five people is 65 or older—by 2020, up from just three in 2014. These include major economies such as the United States, the United Kingdom, Japan, Germany, France, and South Korea. China’s 65-and-older population is projected to more than triple from approximately 100 million in 2005 to over 329 million in 2050. In fact, analysts have estimated that 60 percent of the world’s population over 65 will live in Asia by 2030.”

The study notes that almost all developed economies have a birthrate below the “replacement rate,” or the rate of babies born that will ultimately replace previous generations, leading to a potentially catastrophic talent shortage. Citing the example of Japan, now the world’s oldest country in terms of population, a shortage of approximately 1 million workers in 2015 and 2016 is estimated to have cost the economy $90 billion.

To bolster its declining talent pool, Japan changed its laws so that descendants of Japanese citisens living abroad would be attracted by newly available long-stay visas and work permits. It had particular success in attracting workers from Brazil with as many as 320,000 Brazilians of Japanese descent working in Japan ten years ago, although that number has decreased in recent years. China also faces a steep plunge in its working population in the coming years and has made it easier for those of Chinese descent to live and work there.

Despite these developments in Asia, addressing a workforce shortfall through immigration appears to be an increasingly remote option for many advanced economies. A recent article in the Economist explains that the trend in many countries has been to place increased barriers to foreign talent. For organisations seeking to successfully navigate this demographic reality, success may depend on leveraging the talent of an older workforce, mentoring, succession planning and redefining the concept of retirement from work.

Older Workers as Outperformers

There is evidence that older workers have an edge on their younger colleagues regarding work performance. A study conducted by a management professor at the University of Pennsylvania’s Wharton School of Business concluded that older workers often out-perform their younger colleagues, stating “when it comes to actual job performance…older employees soundly thrash their younger colleagues…every aspect of job performance gets better as we age…I thought the picture might be more mixed, but it isn’t.”

Creative solutions which include accommodating the needs of older workers can help utilise their talent and positively impact a corporation overall. The Economist cites an example from BMW:

“When BMW, the German car maker, faced an outflow of workers it applied an adaptive approach for older workers with great success:…facing an imminent outflow of experienced workers, [it] set up an experimental older-workers’ assembly line. Ergonomic tweaks, such as lining floors with wood, better footwear and rotating workers between jobs, boosted productivity by 7%, equaling that of younger workers. Absenteeism fell below the factory’s average. Several of these adjustments turned out to benefit all employees and are now applied throughout the company.”

Employer Brand Ambassadors and Mentors

Older workers, especially those with significant tenure in an organisation and industry, can serve a critical role in its talent lifecycle. Older employees can become employer brand ambassadors by effectively sharing their success stories with prospective candidates as part of an organisation’s recruitment marketing messaging. Older employees can be mentors for new workers being onboarded that not only teach necessary skills but also help acclimate a new employee to the organisation’s corporate culture. If a company’s workforce is reflective of the economy as a whole, then it should plan to see an exit of at least one-fifth of its employees due to retirement in the next ten years. These older workers form a natural base for a mentorship programme which can play an essential role in succession planning.

Redefining Retirement Age

The days when turning 65 meant the end of working life appear long gone. Some workers past the traditional age of retirement have no choice but to continue working due to a lack of savings. Others choose to keep working, on a full or part-time basis, or as consultants. Companies will also have to compete with the trend towards entrepreneurship for talent 65 and over because this age group is more likely than any other to be self-employed.

Having the Competitive Advantage

What does an aging workforce mean for the overall talent strategy of your organisation? Does your organisation have the necessary insight into the challenges and opportunities that an aging workforce presents? If not, this expertise can be provided by recruitment experts such as a recruitment process outsourcing (RPO) company. Whether your strategy is developed in-house or with a partner such as an RPO, the current tight job market drives the need to build a talent programme that integrates the reality of this important workforce demographic. As the Deloitte study concludes “The demographic math is undeniable: As national populations age, challenges related to engaging and managing the older workforce will intensify. Companies that ignore or resist them may not only incur reputational damage and possible liabilities but also risk falling behind those organisations that succeed in turning longevity into a competitive advantage.”