Talent Acquisition Trends for Companies: 2024 Guide

Business leaders rely on their employees to grow their organization and advance toward goals. That’s why hiring people with the skills and expertise to meet these demands is so important. It’s not enough to passively recruit potential hires. Attracting high-quality talent requires time, intentionality, and effort. 

By aligning your hiring practices with your business objectives through talent acquisition, you’ll find potential employees with the ideal mindset and skills to keep your company innovative and competitive. Further, having a sense of the current trends can help your organization gain an edge in achieving its objectives. Read on to learn more about talent acquisition trends and how to choose the right talent acquisition strategies for your business.

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Understanding the dynamics of modern talent acquisition

Talent acquisition doesn’t stop when a potential employee submits an application. Effective talent acquisition is a comprehensive strategy involving ongoing employee management. It includes everything you do to find, hire, and retain employees. The elements often encompass approving job postings, running background checks, and providing onboarding training to make the hiring process smooth.

Embracing diversity and inclusion in talent acquisition

Diversity, equity, and inclusion (DEI) are fundamental pieces of a successful talent acquisition program. The workforce is more diverse than ever, and these potential employees seek out companies that actively demonstrate their commitment to hiring people from a wide range of backgrounds. It includes concrete frameworks for retaining diverse talent along with accessible hiring practices.

Some talent acquisition strategies that support DEI include examining hiring practices to eliminate biases, using a diverse hiring team, and making applications anonymous. Ultimately, DEI helps drive organizations to meet the needs of the modern workforce with all its complexities and variations. 

Read more: How to Promote Diversity and Inclusion in the Workplace: What We've Learned

Leveraging technology and artificial intelligence in talent acquisition

Recruiting software and technology help to make the talent acquisition process smoother by simplifying hiring and improving potential employees' hiring experience. Some of these software products handle every step of the hiring process, from job posting to onboarding, and provide management tools that make it easier to manage multiple candidates.

While artificial intelligence (AI) might have its place in organizing hires or creating interview questions, it’s critical to remain mindful of the potential biases that may be inherent in AI’s training materials. More complex tasks, such as resume screening, are more effective, nuanced, and less biased when completed by an actual human.

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Data-driven decision-making in talent acquisition

Analytics and metrics help identify the effectiveness of your talent acquisition efforts, as they help shed light on application rates, demographics, and employee referrals. Identifying where your talent comes from helps support more targeted hiring efforts, such as niche job posting sites. It’s also helpful for discovering where there might be inadvertent obstacles preventing people from completing applications.

Read more: Data Literacy for Business: Your 2024 Guide

The many facets of effective talent acquisition

Talent acquisition is a proactive strategy for selecting top talent that involves a variety of facets to create a comprehensive, effective program. When a talent acquisition process works well, it provides a pipeline of high-quality potential employees who are available when new roles open.

Skills-based hiring and continuous learning opportunities

Skills-based hiring means employers look beyond a potential candidate’s previous job titles or degrees and focus more on the skills they’ve developed. This type of hiring practice helps to broaden the pool of applicants to be more diverse. Also, it helps to retain employees by providing them the chance to advance into new roles that may be unrelated directly to their educational background.

Another effective talent acquisition strategy includes offering your workforce continuous learning opportunities. Top talent isn’t just looking for high salaries these days. They also want to know your company is committed to developing their staff and helping them advance in their careers. Continuous learning, along with a competitive benefits package, attracts ambitious people.

Employer branding and company culture

Potential hires want to know what it’s like to work for you. Creating a strong employer brand and a positive company culture helps reinforce that your business is suitable for top talent to invest their time and skills in. Look at how your company represents itself online, including your website, job sites, and social media. Ensure that the content shared aligns with your business objectives and helps to demonstrate what makes your company unique and worth applying to. Ask your current or former employees to leave positive and honest reviews to help prospective hires better understand what it’s like to work for you.

Remote and hybrid work environments

The COVID-19 pandemic changed the world of work, and employees across many industries want more remote and hybrid options. Offering these types of work environments helps attract top talent worldwide, providing higher productivity and happier employees for your business.

By offering remote roles, you help to make those jobs more accessible since candidates don’t need to live within commuting distance of an office. You can hire your perfect candidate, even if they live in a different city. Many employees consider remote work opportunities to be a benefit, even if they might earn more in an in-person role in their area.

Sustainability and social responsibility

Sustainability and social responsibility include the different methods and practices a business engages in to make its company more eco-friendly and directly benefit the community around it. Employees seek out companies that commit themselves to improving the world, and they tend to work harder and be more loyal to a socially responsible business. According to a survey from IBM, 72 percent of respondents are more likely to apply for a position with an organization they consider socially responsible, with 49 percent willing to accept a lower-paying position if it means working with an employer that aligns with their values [1]

Recruitment strategies for talent acquisition

Talent acquisition works best with forethought and deliberate planning. Here are some recruitment strategies that help with effective talent acquisition:

• Create a clear framework of what types of skills and backgrounds you’re looking for, then align job postings with those skills.

• Offer a competitive benefits package that meets or exceeds industry standards.

• Develop a candidate pipeline that promotes consistent communication with prospective hires.

• Partner with educational institutions to identify potential employees.

• Incentivize employee referrals with rewards such as extra PTO, physical gifts, or gift cards.

• Create a robust onboarding program.

• Use analytics, surveys, and feedback to adapt and improve your acquisition program continuously.

Attract talent with Coursera

Keeping up to date with the latest talent acquisition trends allows your company to hire and retain top talent competitively. By focusing on diverse, skills-based hiring, you’ll create a robust talent pool from which to pull.

Attract frontline talent, support internal mobility, and prepare workers for in-demand, digital jobs with Career Academy from Coursera. Featuring a curated catalog of guided tutorials and projects focused on high-value digital skills and tools, Career Academy offers competitive career development opportunities with training programs from industry leaders like Google, Salesforce, Intuit, Meta, and Ashok Leyland, among many others. Explore Coursera for Business to learn how to provide the technology training your business needs to be competitive.