Symphony Talent’s 2023 Talent Acquisition Outlook report finds that one quarter of respondents are dissatisfied with current talent acquisition efforts, a 212% increase from 2022. The number of highly satisfied professionals decreased from 47% in 2022 to 29% in 2023. This shows that the industry needs solutions that provide a comprehensive, intelligent approach to talent acquisition.
The survey respondents indicate that understanding candidates prior to hire is their highest priority (4.3), followed by combining technology with creative and branding (3.9), controlling and automating job advertising (3.8), and partnering with creative to build candidate relationships (3.8). Decision-makers favor investing in talent acquisition to improve results, with a particular focus on re-evaluating the employer value proposition (41%), investing in talent acquisition technology (33%), and investing in talent attraction media (17%).
Competition for top talent is top recruitment concern (64%), followed by a lack of skilled candidates (43%), both of which have increased in concern among talent teams in 2023. Other notable challenges include economic uncertainty (33%) and outdated processes (27%). The biggest challenge associated with sourcing talent is candidates opting for a competing offer during the hiring process (63%), followed by poor candidate fit (60%), high candidate volume (45%), and lost connection during the process (41%).
Though challenges are inevitable, talent teams believe they can be more proactive and agile (32%), use technology and media (28%), refine creative strategies (14%), and gain greater access to talent (14%). When asked which technology solutions teams are currently using for their talent acquisition processes, participants highlighted career sites (82%), CRM software (65%), recruitment marketing (54%), talent assessments (53%), programmatic advertising (51%), internal mobility (51%), virtual events (49%), and EVP (44%).
Symphony Talent suggests that HR leaders outline their top priorities and metrics for success, identify roadblocks, seek best-fit solutions, and reach out to recruitment marketing experts for support as they navigate ongoing changes to the workforce.
