A business is only as good as the output of its people, meaning robust talent acquisition should always be a strategic imperative. So why are some organisations still failing to understand the link between talent acquisition and the bottom line? Held at Tom’s Kitchen in Chelsea, Changeboard’s roundtable, in association with TMP Worldwide, explored this theme.
Referencing TMP Worldwide’s recent survey of 100 senior HR and resourcing professionals on recruitment, CEO Andrew Wilkinson began by stating that 25% of organisations see talent acquisition as a cost rather than an investment, while two-fifths (43%) of respondents struggled to demonstrate how their activities add value to the bottom line. So what is stopping them from doing so?
According to the survey, too many HR professionals are bogged down in the tactical, rather than strategic, resourcing space, focusing on transactional initiatives. This idea resonated with our delegates, with many citing a lack of time and resources as a reason.
“We’ve hired 1,000 people this year with a team of 18; we’ve been told to hire an extra 600 people with the same team and budget next year,” said one delegate.
The need for increased diversity in recruitment was a pressing issue, both from delegates’ experiences and survey participants, more than half (56%) of whom said their organisation had placed more importance on diverse workforces in the past 12 months.
Where diversity and inclusion was once seen as a corporate and social responsibility that trickled down from the boardroom, recruiters now consider it a necessary strategic intervention. Niche skills such as digital expertise mean many professionals are looking outside their traditional fields of recruitment.
One guest shared how his company used to hire Oxbridge graduates. Now, they target students depending on their expertise, such as marketing.
“Diversity isn’t just hiring more women or black people,” said another delegate. “It’s about people who think differently to what you have.”