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Talent Acquisition Effectiveness Varies with Firm Savvy

The drive to improve the performance of talent acquisition is a common denominator among many firms, with high percentages implementing talent acquisition strategies to those ends. But results from these efforts vary considerably according to a firm's overall savvy when it comes to hiring. Best-in-class organizations use a combination of strategy, processes, and technology to improve recruiting efficiencies and compete for top talent, according to the Aberdeen Group's report, The Global War for Talent: Getting What You Want Won't Be Easy. Top talent acquisition organizations' efforts outpace those of competitors who nevertheless have similar goals and also go about implementing strategies to achieve them, the study also finds.

So what, then, puts the top firms above the rest? Aberdeen’s report categorizes participating firms into three types that reflected their savvy in implementing such efficiencies: Best-in-Class, Average, and Laggard. In doing so, Aberdeen identifies many of the attributes and habits of top-performing and behind-the-curve firms.

• Companies that implement, integrate and communicate a talent-acquisition strategy are up to five times more likely to experience a decreased cost per hire.
• Sixty percent of companies surveyed state that "future workforce planning" is a top factor driving their company to focus resources on talent acquisition.
• Best-in-class companies are more than twice as likely to have a talent acquisition strategy that is integrated with the company’s overall strategic plan.
  Source: Aberdeen Group