Prior to 2020, it seemed there was an article written about the “War on Talent” almost every day. Phrases like “candidate-driven market” and “record-low unemployment” dominated headlines. Then COVID hit.
As virtually all industries reeled in the wake of unprecedented uncertainty, leaders made pressured decisions, organizations became leaner, staff trimmed, and a whole lot of people lost their jobs.
The headlines have read quite differently the past twelve months. But as we’ve made slow but steady progress through this pandemic week by week, the old hits are appearing again.
According to a poll from Randstad that asked senior HR professionals from organizations employing over 50,000 people, only 2% said they thought the war on talent was over or “that it’s going to be easier to find and retain talent in 2021.”
Even more revealing, the need for high-performing talent seems to be even more urgent and impactful than pre-pandemic: 65% indicated that organizations must have the “best people on board to help the rebuild” as we emerge from the pandemic.
Beyond just polls, there are serious indicators in the market that support just how tight competition once again is for top talent. Just a few weeks ago, online brokerage giant Robinhood Markets Inc. acquired San Francisco-based recruiting firm Binc for an undisclosed sum.
As it ramps up hiring across its US office and remote locations, Robinhood stands to nearly double the size of its recruiting team by adding the 80-person Binc team into the mix.
While we may not quite be able to stroll into restaurants quite the same way as we did in early 2020, the condition of the labor market and fierce competition for leading candidates is perhaps where we can feel most normal.
With “economic normality tantalizingly in sight, decision-makers have reason for optimism,” per Deloitte. And along with that optimism comes increased hiring, especially for higher-level positions.
But, in the search for top talent, organizations are running into many familiar obstacles once again: steep competition, dwindling supplies of qualified candidates, and difficulty reaching passive candidates.
To win talent post-COVID, organizations must commit all hands on deck and exhaust all avenues or risk falling behind their competitors as they race to rebuild. The war on talent, it seems, has indeed resumed.
Healthcare Recruiters International (HCRI)
The healthcare industry changes rapidly, and, at HCRI, it’s our job to understand and anticipate those changes to better deliver our specialized hiring solutions. Today, we know your teams can’t afford to miss out on leading talent. That’s what we’re here to ensure—our team of expert recruiters has forged key relationships within the industry over the years by connecting the top talent in healthcare with great organizations.
If you’re looking for your next high-impact hire or your next opportunity to lead, contact our team at HCRI today.