SAN DIEGO--(BUSINESS WIRE)--Eastridge Workforce Solutions (“Eastridge”), one of the nation’s leaders in workforce solutions, developed a Talent Acquisition Assessment to identify hiring challenges that exist in today’s competitive labor market.
Companies nationwide took the online assessment to audit and compare their current recruitment and technology practices to other organizations. Respondents provided insight into their current hiring performance relative to three processes: recruitment, management, and technology.
Today’s employment situation is changing to become a more candidate-driven market, making employers quickly shift their hiring strategies to remain competitive. In the recently published U.S. Bureau of Labor Statistics (BLS) Report, the unemployment rate fell to 5%, down from 5.1% in the prior months.
At its lowest level in seven years, the falling unemployment rate is evidence of a shrinking talent pool of top caliber professionals. Positions are becoming increasingly difficult to fill, ultimately causing a negative effect on overall productivity.
Seth Stein, President of Workforce Recruitment at Eastridge Workforce Solutions, commented on the value of having an effective recruitment strategy, “In order to secure top candidates, organizations must have a well-defined recruitment process to ensure consistent and repeatable performance through the hiring life cycle. This measures effectiveness and sets a baseline for ongoing expectations.”
Results from the Talent Acquisition Assessment showed that 41% of respondents do not currently use an Applicant Tracking System (ATS), with 50% of these respondents tracking and storing candidate resumes manually. Organizations that do not have efficient hiring processes, like quick turnaround time from interview to offer, are subject to losing top candidates to their competitors. Companies that have leading edge recruitment technology and proven talent acquisition practices can source, interview, and hire top candidates quicker.
In addition to discovering outdated recruitment methods, the Talent Acquisition Assessment also revealed gaps in the hiring process. Knowing current market trends can impact performance and help hiring managers plan for significant talent market pressures. However, the assessment showed that only 7% of hiring managers are updated on talent market trends.
The Talent Acquisition Assessment has revealed significant gaps that exist in current recruitment processes and hiring strategies. Download the results for key findings and recommendations for enhancing your talent acquisition functions.
About Eastridge Workforce Solutions
Backed by over 40 years of experience, Eastridge Workforce Solutions makes attracting and managing a skilled workforce easier. We develop strategic workforce management programs, innovative technology platforms, and comprehensive staffing solutions customized for your organization. As the success of an organization relies on its talent, businesses partner with Eastridge to solve their workforce needs and stay ahead of the competition. For the latest news and information, please visit: eastridge.com.