Here’s the challenge. 75% of talent acquisition professionals of Small and Mid-Market Business organizations or SMBs (0-999 FTE’s) expect headcount increases in 2023. But 61% of talent acquisition professionals from those smaller organizations say finding quality talent is a challenge.
Gem, a recruiting CRM company based in San Francisco, compiled a report on the current state of talent acquisition. They conducted a survey using a sample of 700 talent acquisition professionals.
We’re sharing some of this data to assist SMBs – small (1-249 FTE’s) and mid-market businesses (250-999 FTE’s) to get a better understanding of how to be more competitive in 2023 as they search for the best talent to grow their business. Here are some of the takeaways from the Gem report.
Pipelines are key for SMBs
According to the Gem survey, the number one focus of talent professionals in 2023 is to build talent pipelines. That requires a great deal of research and insight as well as the ability to engage with “passive talent” – talent not actively engaged in job search. The report also cites that engaging with passive talent is a top priority for SMBs in 2023, but only 29% of smaller organizations have dedicated sourcers. So, what’s the solution?
Hager Executive Search offers a variety of executive search business solutions that can aid SMBs in engaging passive talent. Our retained executive search methodology and our On Demand approach both start with building strong competitive talent pipelines.
Passive Talent Sourcing
Why passive talent sourcing is important? Because research has shown that a sourced candidate is 4-5x more likely to be hired than an inbound candidate. Meaning any solid talent acquisition strategy should include passive talent sourcing. For this reason, Hager Executive Search focuses almost exclusively on sourcing passive talent for our client partners.
Only 24% of SMBs have a formalized EVP or employee value proposition. Which is a challenge because 75% of talent consider employer brand / EVP as a key component of their interest in an opportunity. That’s where we come in. At Hager Executive Search, we help craft our client partner’s brand stories as part of our retained executive search methodology.
To learn more about our methodology / approach on how we can build your SMB company’s talent pipelines and your employee value proposition as part of your company’s customized search strategy, please visit us at Hager Executive Search.