The State of Talent Acquisition
It is fair to say talent acquisition professionals are tired of hearing they are living in “unprecedented times.” However, it is critical to understand the current state of the industry. The past couple of years have been extremely challenging and, unfortunately, it doesn’t seem things will get easier.
Talent acquisition professionals are dealing with significant hurdles like high attrition, low candidate volumes, and, of course, global events like the Great Resignation that continue to create uncertainty. This makes it harder than ever to predict and plan for future hiring needs, which directly impacts the business.
In fact, in 2021 alone, 47 million people left their job in the U.S. with the overall turnover rate across industries at 57.3%. And the impact on attrition is immensely burdensome, as the cost of losing an employee can be up to 2X the employee’s annual salary.
Today, this is no longer just a talent acquisition or HR problem – it is a business problem.
Talent acquisition is one of the only functions that can drive top-line growth and bottom-line profitability at the same time. It is critical that talent acquisition professionals understand the connection between their function and business performance as this connection will help develop the right future strategy, as well as garner the business investment needed for the budget, people, and technology to support their business.
To read full download the whitepaper:
Bridging the Gap: Connecting Talent Acquisition KPIs to Business Growth
