The biggest challenge of 2023: Attracting Top-tier talent (Mercer-Mattl report)
40 percent of recruitment leaders admit to finding it tough to attract top-tier talent. With the problem getting aggravated due to the climbing demand for specialized skills.
Talent Acquisition Leaders acknowledge that it might be difficult to draw in elite talent, with 40% saying as much. The growing need for specialized talents is making the issue worse.
What other difficulties did corporations face in 2023? In addition to obtaining top talent, the previous year brought several other problems for hirers, according to Mercer Mettl Global Talent Acquisition Insights 2024. HR directors may find value in these ideas from more than a thousand CXOs, or those from even higher levels, in the upcoming year.
Recruiting top talent is difficult, according to at least 37% of the 7500 HR leaders from over 48 countries and over 50 industries who participated in the study. This makes sense given the fiercer competition that has made it harder to find qualified specialists. Furthermore, the challenges were compounded by changing employee expectations, which called for employer value propositions (EVPs) and strategic employer branding
According to 21% of the respondents, their second major issue was managing the available money. They found it difficult to strike a compromise between financial constraints and the requirement to draw in top talent in a very competitive job market. Roughly 14% of respondents claimed that their recruitment efforts were hampered by the shifting nature of the labor market. Eleven percent said it was difficult to develop a diverse staff.
Ten percent of HR directors and recruiters were concerned about mismatched talents, while three percent were worried about fragmented recruitment experiences.
Approximately 43% of companies think that emphasizing the applicant experience is crucial. Approximately 85% of mid-sized businesses reported having no layoffs and the least fluctuation in hiring.
According to the report, a staggering 76 percent of firms stated that their top criteria for selecting individuals were communication skills. The most in-demand positions seem to be in data science across all organizations.
Almost 60% of businesses think that developing a strong employer brand will be essential to recruiting in the future.
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