Talent acquisition remains a barrier to preparing for the 'future of work'
- A new report from technology firm Catalant found that 63% of companies have a "future of work" plan, but need to rethink how talent is acquired and the functions to make it succeed. The report, "Reimagining Work 20/20," says survey respondents' top three challenges are training (44%), planning and budgeting (38%), and technology (37%).
- The report concludes that while companies are beginning to address these challenges, most are realizing that traditional ways of finding talent aren't working. Survey results show that many employers take 90 days or more to fill key roles and that there are technology gaps that could resolve the talent problem.
- To overcome technology gaps, respondents said they plan to adopt change management strategies and new technologies to attract specialized or highly skilled talent (75%), find talent that can do the work faster (62%), speed up talent acquisition (57%) and reduce reliance on costly brand-name consulting firms (40%).
The phrase "future of work" refers to technology, specifically the use of artificial intelligence (AI), robotics and automation as defined by a digitized workplace. While technology can be an effective tool in acquiring the right talent and reducing the lag time between recruiting and placement, the struggle for employers may be in keeping up with new developments while also integrating them into strategy. Already, HR managers must shift their approaches to create digital, mobile-first experiences driven by the company brand, with more innovative talent-acquisition strategies to come.
More employers are bringing contingent workers onboard to remain agile as staffing needs fluctuate and to fill openings that require hard-to-find skills. The balance of money savings with speed of access has helped a number of employers overcome talent gaps, but many are still adjusting to managing both contingent workers and full-time employees.
Technology is making inroads in this arena, as well. Mercer and freelance management firm WorkMarket are collaborating on a cloud-based platform that streamlines the management of contingent workers, which employment experts say will soon dominate the workforce.