Welcome to another week in Talent everyone!
It’s that time of year again, where some companies are spending all their remaining budget, and some are holding tight to their purse strings. It’s the crazy EOFY season!
From a personal perspective, my husband and I are definitely holding tight on our purse springs. With the constant rate rises, increasing inflation, and just generally falling into a pit of negative media hysteria, we haven’t really splurge on any big purchases, despite some super cool bargains that we have seen popped up.
We’re definitely on the OzBargain site a lot more, finding tips on good deals, and generally being more cautious of what we choose to spend on. The only one that doesn’t seem affected by any of this, is Snowy. He’s still getting all his delicious food, toys, treats and cuddles. Ahh, the life of a well-loved dog.
Despite the doom and gloom around this, and with restructures and layoffs across various industries (tech, consultancies, start-ups), there are still a lot of companies that are hiring. According to Smart Company, Australia has hit 78% of our 2030 tech job target of 1.2 million. There is still a competitive landscape in finding talent, but candidates are definitely being more cautious. Candidates are going to be a lot harder to attract and convince to move, and recruiters are going to have to be more creative at getting their attention. Even LinkedIn is rolling out an AI-assisted tool via LinkedIn Recruiter to craft better messages to attract candidates.
Topics like the ‘Big Stay’ explain the hesitancy of candidates, however, I believe, if you work for an organisation that can talk to retention and engagement of its existing employees, you’re still going to be able to attract those unhappy in their current jobs.
Some of these strategies include taking a longer-term view, looking at improving or refreshing existing employee benefits to engage and retain their existing talent. Topics revolve around hybrid working policies, increasing social connection days with colleagues in the business, gender neutral parental leave, providing an extra week of annual leave on top of the standard 4 weeks, supporting learning and development opportunities, as well as growth opportunities by way of internal mobility.
And if you are thinking about internal mobility right now, next week ATC is holding a webinar with Enboarder to hear about how REA Group uses internal mobility as a powerful tool to harness existing talent, enhance employee engagement, and drive organisational growth. Make sure to tune in!
How to manage succession planning in a talent crisis
This interview and article with a CHRO focuses on tackling succession planning, particularly around critical and leadership positions. A commitment to upskilling and development could be the path forward.
In an Employee’s Market, Investing in Talent Long-Term Pays Off
With around 80% of professionals saying that they don’t believe their existing employers provide enough growth opportunities, organisations should look into improving their retention strategies. How can Talent share these types of candidate data to ensure conversations during onboarding are not lost?
12 Recruitment Strategies for Hard-to-fill Roles
Referrals, recruitment marketing, employment branding, growth opportunities, and more. Are you using any of these strategies in your current workplace?
What role does AI play in the future of hiring?
This article looks at how we can use AI alongside our day-to-day tasks, rather than replacing the role of recruiters overall (which is the scare-mongering pit hole some of us have been hearing).
The EU is leading the way on AI laws. The US is still playing catch-up
Hot topic this week is that the EU is once again ahead of creating laws and legal guidelines around things. This time, it’s on AI. US (and IMHO, Australia is far behind).
Talent Advisory – It’s a Human Thing
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If connection drives positive outcomes and humans drive connectivity, shouldn’t we be better at connecting the business strategy to the human element of organisations? Many talent strategies overlook the critical connection between organisational strategy and talent enablers – here’s how we can start to fix that.
