If you nip it in the bud now, you’ll minimize problems later. What is it? It’s a growing talent gap, and according to a Career Builder survey, top executives are relying more on recruitment and HR leaders for innovative business strategies grounded in data.
“HR is the new frontier for data science applications in business,” said Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation. “In our study, CEOs acknowledge that the recruitment landscape is changing and the need for their HR teams to come forward with data-driven, competitive approaches and efficient technologies is more critical than ever. HR leaders are becoming more influential members of the executive team. CEOs are looking for HR to be just as data-savvy and digitally-savvy as other areas of the company, and to take quick, measurable actions that move the business towards its goals.”
The nationwide survey was conducted by Harris Poll in 2015 on behalf of CareerBuilder with input from 88 leaders at companies with revenue of at least $50 million.
According to the survey, here’s what we can expect from HR in this new era of recruitment:
- HR leaders should be proficient in workforce analytics–90% of CEO says this is important, and 35% say it’s “absolutely essential.”
- HR teams should interpret data and ascertain the right talent mix.
- The recruitment process should be more efficient and provide a better candidate experience.
And here are the top three recruitment challenges CEOs identified for their organizations:
- Lack of skilled candidates–49%
- Inefficient recruitment process/taking too long to fill jobs–35%
- Candidate experience is not as good as it could be–25%
Nearly half of CEOs (48%) say their companies have lost money due to inefficient recruiting. As a result, we’re seeing a new found willingness to give HR a bigger role in the organization–with room to grow.
In fact, 92% of business leaders think HR executives can have broader influence by:
- Providing actionable talent data and other research to help devise strategies to meet larger business goals–57%
- Showing ways to increase efficiency or cut costs by better using the company’s human capital–57%
- Knowing what the company does, but also how everything works–52%
- Proactively working with other leaders to help solve business problems–51%
So, are you ready to dig into data? It’s not such a dirty job after all.