The Resourcing and talent planning survey 2020, produced in partnership with Omni, provides people professionals and their organisations with trend analysis and benchmarking data on key practice areas such as recruitment, talent management, retention and employee turnover.
Now in its twenty-first year, the report comes at a critical time for organisations who are facing the continued, global impact of the COVID-19 pandemic and the impending end of the Brexit transition period with its implications for workforce management.
The findings and practice recommendations from this report will help employers and their people teams to make informed decisions about people management and investment within this challenging climate.
This year's survey highlights the impact of COVID-19 on the economy, workforce and resourcing activity: almost a third of organisations have decreased their recruitment activity and over half have put it on hold. Almost two in five anticipate a reduction in their recruitment budgets in 2020–21. In this light, the following four areas will be of important focus for employers.
Taking a strategic approach to talent management
More than three in five organisations take a strategic approach to recruitment, but few organisations take a comprehensive, data-based means to improve their resourcing decisions. Not many collect and use good-quality data to forecast hiring demands, or assess the availability of talent in the market. Fewer than two in ten currently measure the return on investment of their recruitment processes.
Broadening and diversifying talent pools
Two in five have recruited a more diverse workforce over the last 12 months compared with the previous year and over half have a formal diversity strategy. However, there is considerable variation in efforts to attract diverse candidates to board level. Organisations need to place more focus on ensuring greater diversity throughout their organisations and make this a continued focus rather than an ad hoc effort.
Developing skills in-house
Skill shortages and lack of relevant experience are common causes of recruitment difficulties. Encouragingly, many organisations are responding through developing more talent in-house, including to fill hard-to-recruit-for positions and sponsoring relevant professional qualifications. Developing talent in-house enables organisations to meet their specific skill needs, decrease reliance on the external labour market and reduce recruitment and retention costs.
A considered use of technology
Organisations are increasingly using technology to attract candidates. The proportion using technology to conduct interviews has also grown and more are conducting tests/assessments online. While technology itself is not a fix-all, the considered application of appropriate technologies can be hugely beneficial and cost-effective in improving recruitment processes.
Moving forward, organisations need to continue to develop a thorough understanding of their existing talent profile and their current and future requirements. Collecting and evaluating data, and strengthening approaches based on the insights gained, is critical to maximise the effectiveness and efficiency of resourcing strategies. Joining up talent management practices in a strategic way from recruitment to development, progression and retention will also be vital.
Omni is a resourcing transformation specialist with one clear purpose – to change the way organisations resource for the better.
We work with clients to improve their recruitment effectiveness, enabling them to stand out from their competitors in how they engage and retain talent. Born out of entrepreneurial spirit, we have been transforming how organisations recruit in the UK for over 23 years. Comprising four business streams – Resourcing Transformation Consultancy, Outplacement, Resourcing and Technology – Omni delivers a tangible and measurable competitive advantage to its clients across both permanent and contingent talent markets.