Digital has, by its very nature, created a business environment that is constantly changing. Employers need professionals who are flexible enough to adapt. 46% cite the difficulty of finding digitally-savvy candidates.
Consequently, companies need employees with digital skills that are immediately applicable and meet the business needs. For those with cutting-edge and relevant skills, the job markets are their playground, as the competition is fierce.
This blog explores four ways companies can find the talent needed to drive digital transformation and ensure commercial success for years.
Online talent platforms are a great way to find new talent
By 2025, online talent platforms may add $2.7 trillion or 2% to the global GDP. This is quite amazing, to put it mildly.
Online platforms that match talents with businesses are increasingly popular in today’s virtual world. Companies can find niche skills for certain tasks by using these online platforms. Imagine an online dating platform for professionals.
Sites like Monster.com, LinkedIn, and Upwork aggregate CVs, job listings from traditional companies, and the digital marketplaces that are rapidly growing in the gig economy.
Online talent platforms can be used by companies to not only identify and recruit candidates who have the skills and experience they need but also to motivate and increase productivity after a new hire starts working.
Apprenticeship initiatives
63% of college graduates with paid internships received a job, compared to 35% of those who did not intern during their schooling. Graduates with paid internships earned an average salary starting at $52,000. This is almost a third more than graduates without internship experience.
The workplace experience gained on the job can help develop practical skills such as critical thinking, analytical reasoning, and written communication. It also helps to gain knowledge about what it is like to work in an actual business environment.
Internships offer students the chance to discover or develop digital skills that were previously unknown to them. This increases their chances of adding value to an organization and driving it forward.
Eighty percent of employers see internships as the primary recruitment method today. Internships are an effective way to find and develop talent.
Employers say that students have textbook knowledge but lack the skills to apply it to solve complex problems, think critically, and innovate. They also have difficulty working in a group. “They want students to have the skills that used to be developed on the job.” Anthony Carnevale is the Director of the Georgetown University Center on Education and the Workforce.
Collaboration with educators
Business leaders need to champion a skills development system that is employer-led to attract the best talent. Educators must embrace their role as advocates for students to help them achieve their ambitions in a competitive, evolving job market.
A CareerBuilder survey found that almost 74% of employers planned to hire college graduates this year, the highest level over a decade. This is done to find the “right” talent early and to allow students to develop and progress their skills. This gives companies the best chance to retain and develop the type of workforce required for success in the digital age.
First-year students at Bentley University, Massachusetts, take a career development course and a skills test to better understand their strengths and weaknesses. Employees from Fidelity, TJ Maxx, and others participate in the program to give valuable feedback on CVs and elevator pitches. They also provide interview tips. By sourcing talent and increasing commercial awareness early, companies can place their Employer Brand in front of the right talent and build a strong workforce for the future.
Collaboration and new thinking are essential to success. In the modern world, the graduate of today is the innovator of tomorrow. Looking through resumes to find the best candidate is no longer enough. You need to find ways to tap into the talent of fresh recruits and connect on a more personal level.
Create and innovate
Today’s Professionals are looking for new opportunities to inspire and challenge them while allowing them to develop their skills.
Twenty-five percent of the workforce is made up of millennials. To find and recruit the best talent, businesses must take a creative and innovative approach
Employers are stepping up the game by immersing their students in their workplace and hosting competitions that reflect their brand. Employers can use these methods to put their brand at the forefront of students’ minds and identify talent. In today’s corporate environment, a practical approach seems to be the most effective recruitment method.
Here are some examples of innovative, creative recruitment methods:
Hackathons Originally used by companies to crowdsource applications or solve problems, the talent of individuals is now at the center of these networking initiatives. Hackathons are the best way to test a person’s collaboration skills, interpersonal abilities, technical knowledge, and potential. The US hosted 1,568 Hackathons last year, followed by the UK with 470. Hackathons will continue to increase in number this year and beyond.
Innovation Competitions: L’Oreal has developed an initiative called Brandstorm which invites students worldwide to take on a specific challenge and present their results. It is a great way to discover talent. Students on the verge of entering the workforce can showcase their skills to potential employers. Brands have the opportunity to show off their products. This is a practical and effective recruitment tool for today’s world.
Real-world challenges: Introduced only eight years ago, ‘s Collegiate-Effie allows participants to create cases for marketing communication that address real-world challenges marketers face. Participants can showcase their talents and prove their ability to offer practical solutions to business problems. This is a great way to identify the talent that can help a brand meet its needs and achieve digital maturity.
The talent landscape has changed, and traditional recruitment methods are losing relevance. Companies must adopt a proactive approach to identifying, developing, and retaining talent to compete in today’s world.