As some of you may have already seen, Human Capital Institute (HCI) released its 2015 Talent Pulse report, an annual report that explores the latest trends and challenges in talent management. This year, HCI honed in on the skills gap and how businesses can work with universities to proactively build their talent pipelines. Throughout the report, there were a few trends and best practices that emerged. While the skills gap is no surprise to anyone, HCI noted that it is no longer exclusive to STEM roles and is aggressively moving into other critical positions.
The benefits that come along with university partnerships play a direct role in helping organizations combat the skills shortage and ensure their company is prepared for future workforce and economic changes. The below highlights some of the key findings and trends within HCI’s 2015 Talent Pulse report and we invite you to share what you found most interesting in the comments section below.
As mentioned previously, the skills shortage is nothing new and if you haven’t actively started strategizing ways to get ahead of it, you are already behind. But, it's never too late to get started. In the latest Talent Pulse report, HCI found that organizations are concerned with filling managerial and leadership positions in addition to the STEM and critical-thinking skills needed to maintain business growth. Additionally, HCI survey respondents indicated less than one-quarter agree they have a strong talent pipeline for critical positions, but those who recruit from colleges reported being more secure in their talent pipeline. As the skills gap continues to grow and more of the workforce retires, leadership development will only become more critical. However, HCI noted that HR leaders report that only 24 percent of high potentials are leadership ready. Now is the time to build leadership development programs and keep your top performers engaged.
University recruitment initiatives and involvement range from having a table at career fairs to funding university research and development. But what is most effective when engaging university talent? HCI found that direct involvement and establishing a brand presence on campus were most effective when leveraging university talent to build out a talent pipeline. Eighty-three percent of respondents indicated offering internships and co-ops brought in the most new hires from universities. An impressive 84 percent said offering apprenticeships result in a large number of hires as well. While participating in career fairs and sending recruiters to campus may seem like a good idea, these were among the least effective ways to attract university talent. If you’re going to implement university partnerships, you have to be directly involved. Otherwise you are not seeing a strong ROI and you will be losing out on talent to your competitors who are directly partnering.
Employer branding is necessary to attract and retain top talent, so when partnering with universities, why would this be any different? HCI reported that organizations that constantly build brand awareness on campus and are vocal of the skills needed, while measuring the success of their university partnerships, are more likely to report a strong talent pipeline for critical positions. When asked to think about the current state of their organization, 79 percent of respondents said building brand awareness of their employment brand at colleges and universities, even when they don’t have positions to fill, has positively impacted their strong talent pipeline for critical positions. While it may seem easy to maintain a brand presence on campus, a number of challenges can present themselves. Sixty-three percent of respondents said a lack of resources (budget and staff) hinder their ability to recruit at colleges. Lack of strategy was also one of the top challenges HR leaders noted they face, at 55 percent.
To learn more about these key findings and strategies to better your university recruitment initiatives, download HCI’s 2015 Talent Pulse report.
Wilson Human Capital Group, Inc., (WilsonHCG) is a global leader in innovative talent solutions that operates on the principle of providing true partnership to our clients. Through our highly configurable Talent Ecosystem™ model, we transform the talent function into a strategic advantage. At WilsonHCG, the relationships we develop lead to the results our clients realize. Better People, Better Business.®