Developing a streamlined path for recruitment and closing the skills gap is vital to success in today’s rapidly changing business world. A digital talent pipeline is another facet of the overarching digital transformation that is driving change across all industries. By embracing technology and developing your own pipeline now, you can help future-proof your company.
Where’s Your Digitization Strategy?
Only 27% of senior executives surveyed by Gartner have a cohesive digitalization strategy in place, and even those strategies are felt to be lacking.
This isn’t something that can be put off, however; digitization is happening whether you are ready or not.
Concentrating on the benefits can provide motivation: shifting to digital talent identification and acquisition can accelerate your company’s digital transformation by as much as 20%-30%, delivering investment savings in the double digits and moving the indicator on key revenue drivers.
Recruitment is Facing its Biggest Challenges Yet
According to McKinsey, finding talent that fills the needs of the future is only going to get more difficult.
Over the next five years, the prediction is that the supply of talent with the ability to deliver in new capabilities will be dwarfed by demand.
Agile skills alone are anticipated to face a demand four times greater than supply, while big-data talent could face supply shortages amounting to a missing third of the needed workforce. How can you create a pipeline that keeps top talent flowing into your organization and reduces flight risk?
Four Steps to a Digital Talent Pipeline
You can only create a powerful digital talent pipeline by letting go of traditional recruitment methods. Be proactive, not reactive, and keep your funnel running at all times to attract top talent so you’ll always have qualified candidates on tap.
- Look for potential over credentials. Don’t forget the possible hidden talent inside your own offices. Be prepared to invest in upskilling to develop high-value employees with strong loyalty.
- Value soft skills as much as technical ones. Not all employees need to be equally strong in both, but take care to prevent your organization from being too heavy on one end or the other.
- Incentivize employees to come and stay. Provide a compensation package that will attract the best of the best, then follow through with career advancement and learning opportunities.
- Develop teams, not just individuals. By diversifying your workforce and promoting inclusivity, you can build teams that advance your brand and its reputation, while increasing revenues.
Create a Talent Management Plan
One in three senior management executives surveyed says there are major obstacles in the way of digitizing operations, specifically listing lack of management awareness and support, organizational barriers, and lack of an adequate talent management plan as prime culprits.
Managing your existing talent and incoming talent is critical if you want to have strong employee retention and loyalty. Strategic workforce planning should include a talent management aspect. By creating a framework that is designed to nurture and retain talent from the first contact through onboarding and training to career development is key.
Invest in Referrals
Referral hires can be the most cost-effective, churn-proof way to fill key positions. Motivating your existing employees to refer top talent from their own networks can help you build stronger teams. Oddly, many organizations ignore their referral opportunities or treat them as an afterthought.
By putting even a fraction of your recruitment budget into a strong referral program, you can increase the quality and longevity of your hires. Automating key processes in your program can strengthen and streamline your digital talent pipeline.
How Censia Can Help You Build and Maintain a Digital Talent Pipeline
Take advantage of the digital power of a plug-and-play ATS, actionable, data-driven insights, and a platform designed for future-proofing your workforce. Censia’s AI and talent intelligence help you map your skills needs, match openings to candidates inside and outside your organization, and give you in-depth insights into your current and future workforce needs.