25 Jun Why investing in Talent Acquisition is now Essential
Many of our candidates and clients are telling us how COVID-19 has impacted them. For many companies, the crisis has and may continue to have, a huge financial impact. We fully understand that, for the time being, their recruitment activities are frozen.
For those companies in a more fortunate position, there are many reasons why executive, specialist searches and talent mapping exercises should continue:
- On average, from the start of a search to a candidate beginning a job can take 5-6 months (assuming a 3 month notice period). A placement resulting from a search starting now, is not likely to happen until September or October. Putting an important search on hold now, approximately 2-3 months, will only push that start date back towards Christmas or the New Year.
- Market-leading companies are carrying on pursuing their medium to long-term strategies and using this time to get ahead of the competition in identifying and securing the best talent.
- With many executives now working from home, at least for the time being, we are, in many cases, finding it is easier than ever before, to have conversations with a multitude of potential candidates.
- Mapping now is a good investment, especially for companies who do not yet want to reach out to potential candidates, until they are certain they have a role to fill, but it does allow them to better plan for the future.
- Approaching potential candidates now will demonstrate that your organisation has confidence in the medium to long-term and this sends a positive message to your employees, your suppliers and the market.
- Although many areas of the economy are far from ‘business as usual’ with restrictions still in place, over the past 4 months, virtual recruitment processes have been successfully embraced by candidates, employers and recruiters. Interviews, offers and onboarding of new starters virtually have seamlessly taken place during the COVID-19 outbreak; and this looks set to stay post-crisis.
Many companies are demonstrably not in a position to be pro-active in this way, but, for those who can, investing in the acquisition of skilled talent now, both permanent or interim, looks to be a shrewd strategy.