According to a recent global study by Futurestep—a Korn/Ferry company—74 percent of HR professionals worldwide admit their organization should be doing more to demonstrate innovation in recruitment and talent management. Yet, the study showed that specifically in the U.S., a lack of senior plus a shortage of financial investment and time are the main barriers to adopting more innovative practices.
Recruitment and talent management professionals from eight countries (UK, U.S., Australia, France, Germany, Brazil, India and Greater China) reported that using innovative methods in recruitment was key to winning the war for talent. When asked why innovative recruitment methods should be adopted, 42 percent felt it was crucial in securing the best talent while 33 percent believed it was key in hiring niche or hard-to-find talent. Yet, the survey, called “The Innovation Imperative,” showed that just over a quarter (27%) of U.S. recruitment and talent management professionals have access to an R&D/innovation budget to improve performance in HR.
Other findings include:
- Recruitment and talent management professionals believe professional online communities and online talent communities will be the most influential recruitment methods in the future—followed by mobile campaigns.
- Though not currently using these practices, respondents would like to use: mobile campaigns, creative advertising and bespoke talent communities for recruitment; creative office environments and working spaces, sharing strategies and innovative flexible working processes for engagement; and, international secondment programs, external training and external mentoring for development.
“Whilst innovation is on the minds of talent and recruitment professionals in the US, failure to secure buy-in from the board means HR departments are suffering from a lack of dedicated funds, as well as time, to develop these innovative processes,” William Sebra, president of Futurestep North America, said. “It is vital, particularly in a market as competitive as the US, that businesses are able to attract and retain the best talent available in order to drive growth in a continually challenging economic climate. However, at present, these obstructions are threatening to damage many organizations ability to deliver the talent demands of the businesses.”
Download the full study at www.futurestep.com/innovate.