HRO Today Global Spring 2014 - 22

Talent Acquisition
Within Reach
A new report examines the current talent landscape.
By Pam Berklich
Far from simply filling existing gaps as quickly and
economically as possible, recruiting has become a highstakes
competition to foresee economic conditions and
business projections, estimate critical talent gaps as
early as possible, and source the highest-quality talent
available.
Even in the face of economic recovery in many global
markets, recruiting top talent remains a major concern;
in particular, a shortage of skilled labour continues to
vex hiring managers. Accessing quality talent remains
a top concern. As many recent studies confirm, among
the biggest challenges HR professionals face is recruiting
quality talent. The 2013 PwC CEO Survey found more than
half of United States CEOs report a shortage of skills is
a potential threat to growth this year. Respondents to
our RPO survey report similar frustration. Sixty-one per
cent say they experience difficulty recruiting staff, and of
those, 87 per cent blame a shortage of skilled recruiting
staff in the roles required. Other critical challenges
include being unable to offer a competitive salary (49
per cent) and offering an undesirable work location (30
per cent)-both of which only sustain the all-important
challenge of attracting and retaining top talent.
[22]
HRO TODAY GLOBAL | SPRING 2014
Hiring Challenges
A shortage of high quality talent is a serious problem
for more than two-thirds of companies. Sixty-eight per
cent report talent shortages slow or stall the hiring
process (see Figure 1). Among other top factors slowing
the hiring process: hiring manager satisfaction (37 per
cent), time-to-hire (36 per cent), cost-to-hire (25 per cent)
and quality of recruiters (23 per cent). Not surprisingly
more than a third report their organisation's average
time-to-hire is more than 45 days, a statistic signaling
that despite reports of high unemployment, a number
of roles are still very difficult to fill. Time-to-hire is still
a difficult statistic to benchmark given variation by type
of hire, industry, company size, and outsourced vs. inhouse
recruiting. As a point of comparison, however, the
Society for Human Resources Management reports the
average time to-hire for large organisations-those with
more than 1,000 employees-is 43 days. Time to hire for
small organisations-defined as having fewer than 1,000
employees-is 29 days.
Hiring appears robust for the coming year, both for
internal full-time labour as well as contingent hires.
Nearly three quarters (73 per cent) of companies surveyed
plan to increase the number of internal full-time hires

HRO Today Global Spring 2014

Table of Contents for the Digital Edition of HRO Today Global Spring 2014

HRO Today Global Spring 2014 - 1
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