While the business climate may change, the search for critical talent continues to pose challenges. Finding quality sources for candidates remains the number one talent acquisition pain point among recruiting decision-makers according to a recent survey by The Newman Group, a talent management consulting leader and part of Futurestep, a Korn/Ferry Company.
The report based on the survey, Talent Acquisition 2008: Survey and Analysis of the Changing Recruiting Landscape, notes that sourcing remains a key recruiting challenge as companies wrestle with a myriad of sourcing options, from traditional web posting to more advanced Web 2.0 and network building efforts. With economic concerns driving more careful business decisions, strategic talent acquisition efforts continue to play a growing role in talent strategy, with more than half of respondents (54 percent) engaged in focused workforce planning activity.
The report draws from a survey of 500 respondents active in talent management and related roles within their organizations. This is the fourth year that The Newman Group has conducted the survey, and it reflects the continuing progress that talent organizations are making in their efforts to balance tactical concerns with strategic vision.
"Finding the right talent to deliver on objectives remains a key challenge for businesses today," says report author and Newman Group Consulting Director Sally Millick. "Companies understand the significance of an effective talent acquisition strategy. They are now striving to understand their needs, prioritize their actions and put those strategies into practice. That will be an ongoing process."
"The survey shows that companies recognize the continuing importance of talent management fundamentals and the need to deliver business impact," says Ed Newman, president of The Newman Group. "Our relationships with enterprise clients are based on a mutual understanding of the importance of a strategic approach to talent. An effective talent management strategy is essential not only for the success of recruiters and hiring managers, it is critical to the success of the business as a whole."