Human resources manager shaking hands with applicant after successful interview

2024 HR Professionals’ Main Challenge is Talent Acquisition

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The main challenge for HR professionals has transitioned from talent retention to talent acquisition, with several key issues emerging:

  1. Talent Shortage: 48% of HR professionals report facing a shortage of available talent;
  2. Inefficient Talent Acquisition Processes: 26% of HR professionals believe that inefficient processes result in missed opportunities to secure top talent;
  3. Uncertainty About Recruiting Sources: 22% of recruiters are uncertain about the effectiveness of their recruiting sources.

Additionally, the labor market is evolving, with changing expectations and needs. Employers are seeking for specific skill sets (e.g., AI) and offering benefits that appeal to today’s workforce (e.g., flexibility, competitive salaries).

To address these issues, here are some tips:

  • Attractive Conditions: Provide flexible work options, such as remote or hybrid arrangements;
  • Equitable Hiring Process: Establish a fair and transparent hiring process that includes skill assessments for candidates;
  • Childcare Support: Offer access to childcare to support employees with families.

The labor market is also becoming more complex. Baby boomers, who constitute 19% of the workforce, are projected to retire by 2031, representing 1 out of 5 employees. This anticipated turnover underscores the critical need for effective Talent Acquisition processes. Implementing robust Talent Acquisition strategies now will help HR professionals manage the upcoming wave of retirements and maintain a strong workforce.

Source: Brian Bingaman, 2024 “Talent Acquisition the No. 1 HR Challenge Right Now: How Experts Are Handling It”, hrmorning.com, May 28th 2024, https://www.hrmorning.com/articles/biggest-hr-problem-talent-acquisition/

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