As many industries finally experience rapid growth, the war for top talent is becoming more cutthroat than ever. A one-size-fits-all recruiting strategy no longer serves employers well— to attract the best and brightest, organizations must develop a new approach to talent acquisition in order to effectively engage candidates and top-performing employees. Here are five key recruiting trends likely to continue throughout 2015.
1. Adapt to the shifting balance of power
Employer-driven approaches to hire top talent are now a thing of the past. Eighty-three percent of employers reported a shift in power away from employers to the candidate in a recent MRINetwork study. The market has become candidate driven, with a high demand for skilled labor but a short supply of quality candidates to fill open positions. Turnover rates are also high, with about 38 percent of new hires averaging only 3-5 years at a company before moving on to other opportunities.
Talented people understand their worth and are unlikely to stick around unless the work remains stimulating. Recruiters must work harder to provide a great candidate-driven experience and keep their employees happy, engaged and motivated.