It feels different this time doesn't it? It's getting busier, but because we were in a recession for what seemed like a decade, we are bit gun shy. I'm here to tell you that 2014 will be the busiest year you've had in recruiting in 10 years!
Why will 2014 be the year of Talent Acquisition?
Well, let me explain. Here's the perfect storm that is hitting all of us right now:
- 10 years ago we were told Baby Boomers were going to start leaving the workforce in record numbers. Then, it didn't happen. It's going to happen. Do you really think your mom and dad want to keep working? They don't! My dad is 72; he should've retired five years ago, but felt like he couldn't. The other day he told me that he now feels he can.
- In 2013, the S&P 500 gained 27 percent. That means all those folks on the edge of retirement just saw their 401K plans and retirement accounts grow back to where they were 5 to 7 years ago. Hey people, it's time to cash out!
- Almost every industry, and every company, delayed or stopped technology upgrades during the recession. Most, if not all, are now jumping in and upgrading. This means thousands of new jobs and a trickle-down effect of non-technical jobs - all happening now.
- Most organizations cut their Talent Acquisition departments during the recession. If you're not hiring, you don't need recruiters! Many of those folks left recruiting for good.
All of this adds up to Talent Acquisition being the busiest it's been in a decade. And rest assured Talent Acquisition will once again be able to pull some weight around your organization.
What should you do to prepare? Prioritize!
Three priorities for Talent Acquisition in 2014:
1. Hire. Hire talent that can recruit talent. This doesn't mean you should hire back previous recruiters. What it does mean is finding folks who are passionate about your business, and can network. Talent Acquisition is sales; it's not HR.
2. Train. For many of you, training your Talent Acquisition staff hasn't been a priority these last eight years! It's time to sharpen that saw because you're going to be cutting a lot of wood in the coming years!
3. Upgrade. Your Halogen Talent Acquisition™ systems and processes probably aren't very fresh because they haven't been challenged in a while. It's time to do some disaster planning. What if you had to hire 100 new employees next month? Could your systems and processes do it? Really? Like I said, you need to upgrade!
In 2015, many of you will look back on 2014 and think, "What the hell happened! We weren't prepared!" Believe me, you don't want to be the Talent Acquisition leader saying that. If you are, you'll most likely be asking the what-the-hell-happened question while looking for another job.
You don't staff for the business you have, you staff for the business you will have. That theory goes up and down. If you project less business, you start cutting. If you project more business, you start adding resources. You don't wait for the business to come, and then add. At that point, you're too late!
Want to be strategic? You're in luck - 2014 is your year.