Is Your Talent Management Strategy Meeting the Mark in A Tightened Job Market?

talent management strategy

Things are looking good for job seekers in the United States. In 2018, over 300,000 jobs were added to the economy, and average wages rose 3.2%. Paired with historically low unemployment rates, the workforce holds more power than it has in recent years.


This presents a challenge for employers; as the labor market becomes more competitive, recruitment is tougher than it has ever been. HR professionals need to take a good look at their talent acquisition and management strategies to make sure they are meeting the mark for recruiting top talent. When analyzing current strategies and practices, employers should ask themselves:


Are my recruitment tactics out-of-the-box?

To remain competitive, employers have to stand out and do things a little differently. Taking a step (or three) outside of the traditional recruitment box can make your organization more noticeable and appealing. Here are some tactics that can really make a difference:

  • Look outside your industry. There is an entire world of talent outside of your specific industry. Many skills can transfer from industry to industry, so don’t limit applicants based on industry.
  • Utilize LinkedIn. LinkedIn has a lot of great tools for finding and pursuing talent. Take this proactive approach and start a conversation with someone, rather than passively waiting for people to apply.
  • Bring technology into the recruitment process. Outdated recruitment tactics are a big red flag, especially for younger workouts. Consider one-click applications and video interviews.
  • Provide flexibility. Do not limit your talent pool by describing your opening as a “9-5 office job.” Consider opening the position to remote employees and offering flexible schedules (when possible).


Remember, the employee experience starts the second the candidate considers applying for your company.


Does my strategy utilize AI?

Artificial Intelligence (AI) is the next big player in the HR game. You can use language analysis tools to remove unintentional bias from recruiting communications and to create meaningful conversations with recruits and employees. AI-powered chatbots are a great way to quickly address candidate and employee questions, so they never feel that they are helpless in a given situation. AI can also provide a real-time analysis of the existing workforce, so you can easily measure productivity, skill gaps, and whether or not employees are happy. That way, you can adjust where necessary, before unhappy or overworked employees leave.


How do my benefits offerings stand up to my competitors’?

Employee benefit packages are now just as big of a consideration--if not bigger--for talent management as salary. Employees need (not want) benefits that are affordable and that address their needs.


One way employers can make themselves stand out from the competition is to make some benefits available immediately upon hire. Gaps in coverage leave new employees anxious about what could happen to them. Offering benefits from hire date when possible can make your organization extremely attractive.


Additionally, take a look at the needs of your ideal candidate and address them through your voluntary benefits. For example, if you are looking for a tech-savvy millennial, consider offering telecommuting options. Student loan repayment programs, pet insurance, employee wellness programs, and caregiver benefits are all voluntary benefit options that address real-world concerns.


Am I doing this the best way?

Utilize technology to reduce administrative burden so the focus can be on what really matters--the people. HR professionals already wear many hats; they will never have the time to dedicate towards improving talent management strategies if they are spending most of their time on administrative tasks. Benefit administration software can drastically reduce the amount of time spent on paperwork, reporting, and compliance, so HR professionals can spend more time improving the employee experience.