Hiring in 2021 is governed by a need for cost efficiency, and your HR Strategy probably needs retooling to reflect this. We examine trends worth noting, and how to take advantage of them.
While HR has always been vital to any company, it is no longer enough to think of it in terms of “the people who recruit new people”. As with any other aspect of business operations, HR has become an invaluable resource that works hand-in-hand with other departments to provide a cohesive, organisation-wide benefits programme in the form of talented new hires or high staff morale.
The pandemic derailed hiring plans for many firms, but talent acquisition has since restarted – in a very changed space. Cost efficiency and ROI is of premium importance to companies getting back on their feet while searching for the right people to push their business forward.
All this means your HR strategy is probably due for an update or even an overhaul, to better tackle the new challenges we face today. In its role as the liaison between employees and the organisation, your HR strategy needs to take it to the next level or risk being left behind.
For starters, you should consider:
- The rise of the gig economy
More and more workers are taking jobs on a contract basis, and you would do well to capitalise on this trend.
The three main benefits of contract workers are: flexibility, cost and experience. They can be onboarded quickly and often do not count as part of the headcount. Secondly, contract workers do not qualify for medical benefits or other staff perks, making them cost efficient. Lastly, these professionals are often hired to provide specific experience for a specific project – and move on after it is complete.
Consequently, leveraging on these unique characteristics of the gig worker may be a boon for a business in the midst of cost cutting measures, or one that its finding its new direction through different projects.
- HR tech to streamline processes
In recent years, HR tech has developed in leaps and bounds. Primarily, HR tech tools can help streamline traditionally time-consuming tasks like sourcing, pre-screening, assessing and interviewing candidates.
For example, our CareerBuilder HR Product Suite can help find, screen and retain the correct people in the correct positions. It provides an end-to-end service from scouting possible candidates, evaluating them, sorting them, to ensuring the onboarding process is seamless and fuss-free.
- A long-term HR strategy
There are two different kinds of job openings, generally speaking. Some need to be filled immediately, such as when a vital team member leaves for another opportunity. Others are more long-term, such as personnel needed for new projects or expanding the business.
Ensure that your HR strategy is in-line with the needs of the company, and prioritising hiring according their timelines. It is not sufficient to be on the lookout for the right people, you also need to be catching them at the right time for the right position.
- The importance of leadership
Sometimes, HR can be forced into a somewhat passive role. Especially in smaller companies, the HR rep simply starts putting out job ads when the big boss says so. Otherwise, he or she handles the day-to-day of payroll, employee complaints, and arranging staff here or there.
That is no longer a sustainable way forward. HR, like any other aspect of the business, needs to be pro-active. Take the lead and look at hiring trends in the industry, what the HR needs of your company are, and how processes can be improved or streamlined to cut cost and increase efficiency.
HR is the vital liaison between company and employee – it must stand its ground or be swept away.
Interested in HR Solutions? Email [email protected] for a demo, or contact your CareerBuilder rep to learn more.