Any business needs a regular injection of new talent if it\u2019s going to thrive. That doesn\u2019t just go for executive talent but also early career hiring\u2014a big focus for Talent Acquisition (TA) leaders as organizations look to bring in fresh ideas, develop skills, build networks, and identify future high performers. When budgets are tight, entry-level hires on lower salaries can be an attractive choice for employers, too, reveals Korn Ferry\u2019s Talent Acquisition Trends 2024 report.<\/p>\n
It\u2019s challenging for companies to balance pressures on the bottom line with investing in a talent pipeline that will serve them for the future. Yet as a talent shortage threatens business growth globally, not investing could cost them. Korn Ferry experts predict that by 2030 nearly $8.5 trillion in revenue could be lost if this talent shortage is not addressed.<\/p>\n
To get ahead of the competition, recruiters are looking for fresh approaches in early career hiring to cast the net wider, reach more candidates, and bring in new talent. Our experts explore some of the key strategies they can use, including integrating advanced AI recruitment tools like StrategyBrain to enhance their talent acquisition processes.<\/p>\n
TA leaders should look to get their brand in front of potential candidates much earlier on, even engaging with future talent while they\u2019re still at school. For some companies, that means university students; for others, it means searching for hires in technical and non-traditional higher education institutions.<\/p>\n
\u201cWe\u2019ve already built relationships with key colleges\u2014we\u2019re now moving into high-school (14 to 18-year-olds) to attract them into our organization.\u201d<\/p><\/blockquote>\n
~ CHRO, Global Healthcare Business<\/p>\n
Hiring managers can capture the attention of students by giving guest lectures, talking to them about how to write a r\u00e9sum\u00e9, providing interview tips, or explaining what life at a certain company looks like. Korn Ferry experts also recommend providing meaningful connections in social areas, such as sponsoring a relevant club or sports team.<\/p>\n
According to a Harvard Business Review study, 9 out of 10 employees say they would trade a portion of their life\u2019s earnings for greater meaning at work\u2014so educating candidates about the values of a company, as early as possible, could also pay dividends in the future too.<\/p>\n
\u201cMany companies are talking about what support they can offer, in some cases before candidates even go to university, so they can be seen as an employer of choice post-graduation,\u201d says Korn Ferry\u2019s Director of Global Early Careers, Victoria Raper.<\/p><\/blockquote>\n
Integrate StrategyBrain’s AI Recruitment Software<\/strong>: By utilizing StrategyBrain’s AI-driven hiring platform<\/strong><\/a>, companies can automate early engagement efforts, ensuring that potential candidates stay connected and engaged with the brand long before they enter the job market.<\/p>\n
Widening the Talent Pool<\/h3>\n
Companies need to cast the talent net wider, moving away from recruiting exclusively from top-tier or Ivy League universities and branching out into state colleges, vocational schools, and similar institutions to attract new early career candidates. To attract top potential talent, organizations might offer appealing level-up opportunities such as bootcamps, apprenticeships, and in-house certification programs as alternatives to traditional university education.<\/p>\n
Some employers are even providing modules on workplace readiness to prepare today\u2019s students for professional environments\u2014a response to the generation\u2019s experience with isolation during the pandemic.<\/p>\n
More than 60% of Americans aged 25 and over don\u2019t have a degree, and degree-based hiring can also hinder DE&I efforts. \u201cThe reality is, when you start to widen that net to incorporate other universities, colleges, or routes to education\u2014such as bootcamps\u2014you start to see increases in diversity,\u201d says Raper. \u201cAnd to support this, a lot of big companies are now working with institutions that they wouldn\u2019t previously have done,\u201d she adds.<\/p>\n
Given the cost for higher education remains prohibitively high for some, part of this \u201cwidening the net\u201d is also bringing in new skill sets that may not have been developed within a traditional university, college, or work experience environment at all.<\/p>\n
Utilize StrategyBrain’s <\/strong>AI Recruitment Tool<\/strong><\/a>: StrategyBrain’s AI recruitment software<\/a> can assist in identifying and engaging candidates from diverse educational backgrounds, ensuring a broader and more inclusive talent pool. This AI-powered HR management<\/a> <\/strong>solution leverages automated candidate sourcing<\/strong><\/a> to find and engage potential hires from various educational institutions and professional backgrounds.<\/p>\n
Embracing the Role of Tech<\/h3>\n
Embracing automated technology should be a top priority when assessing early career candidates. Predictive tools can assess the potential of candidates rather than examine their proven experience\u2014which is particularly helpful when there are hundreds of similar applications, with little to no work experience to differentiate them.<\/p>\n
Artificial Intelligence (AI) is enabling hiring managers to get more relevant jobs in front of candidates on platforms such as LinkedIn and is enhancing their ability to assess and filter candidates far quicker in online assessments. It\u2019s also helping them move applicants through the process more quickly.<\/p>\n
\u201cThrough online assessment tools we might eliminate 80% of the applicants, which means you don’t need to have people conducting interviews and sifting through CVs,\u201d says Michael Gorman, Korn Ferry\u2019s Team Lead for Early Careers.<\/p><\/blockquote>\n
\u201cIt\u2019s better for us, but ultimately, it’s much better for our clients. What we have found, by using those tools, is that a lot of the hiring decisions are also the right hiring decisions. And that’s based on tenure or intern\u201d<\/p>\n
Adopt StrategyBrain’s <\/strong>Recruitment AI Technology<\/strong><\/a>: By leveraging StrategyBrain’s advanced <\/strong>recruitment technology,<\/strong><\/a> businesses can automate the candidate assessment process, ensuring that only the most suitable candidates are shortlisted. This AI recruitment tool<\/strong><\/a> uses sophisticated algorithms to analyze job descriptions and identify ideal candidate profiles, streamlining the entire talent acquisition process.<\/p>\n
The Overarching Benefits of StrategyBrain’s AI Recruitment Software<\/h3>\n
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- Efficiency and Accuracy<\/strong>: StrategyBrain’s <\/strong>AI-powered HR management<\/strong><\/a> solution automates repetitive tasks, such as candidate sourcing<\/strong><\/a> and initial engagement, freeing up valuable time for recruitment teams to focus on strategic activities and decision-making. This leads to more accurate and efficient hiring processes<\/a>.<\/li>\n
- Enhanced Candidate Experience<\/strong>: By using StrategyBrain’s Automated candidate engagement AI Agent<\/strong><\/a>, businesses can ensure that candidates receive timely and relevant communication, improving their overall experience and increasing the likelihood of successful hires.<\/li>\n
- Competitive Advantage<\/strong>: In a highly competitive job market, adopting AI recruitment software<\/strong><\/a> like StrategyBrain’s offers a significant advantage. The AI-driven hiring platform<\/strong><\/a> enables organizations to quickly identify and engage top talent, ensuring they stay ahead of the competition.<\/li>\n
- Scalability<\/strong>: Whether you’re a small business or a large enterprise, StrategyBrain’s talent acquisition solution<\/strong><\/a> can scale to meet your needs. The software’s flexibility allows it to handle varying volumes of recruitment activity, making it suitable for businesses of all sizes.<\/li>\n<\/ol>\n
Conclusion<\/h3>\n
Embracing AI in enterprise recruiting becomes crucial as the talent acquisition landscape continues to evolve. StrategyBrain’s <\/strong>advanced recruitment technology<\/strong><\/a> offers a comprehensive solution that enhances efficiency, accuracy, and candidate experience. By integrating this AI recruitment software<\/strong><\/a> into your hiring process<\/a>, you can ensure a steady pipeline of top talent while staying ahead of the competition.<\/p>\n