LONDON, October 19, 2017 /PRNewswire/ --
An assessment of 400 talent programmes in seven European countries proves organisations with high-performing talent acquisition functions are more likely to operate at a high level of productivity than their less effective peers.
The report entitled European Talent Acquisition Trends: Productivity, Profitability and Personal Impact from Cielo, the world's leading strategic Recruitment Process Outsourcing (RPO) partner, found that 31% of companies with High Impact talent acquisition functions feel that they are operating at maximum productivity, compared with only 4% of companies with Low Impact talent acquisition functions. 68% of companies with High Impact talent acquisition functions report an increase in profits last year compared with only 31% of companies with Low Impact talent acquisition functions.
Cielo categorised respondents as High, Medium or Low Impact based on the effectiveness of their talent acquisition functions across 12 strategic and core dimensions. High Impact talent acquisition functions are mature with articulated strategies that shape business decisions. Low Impact talent acquisition functions are weak at core talent acquisition tasks and ineffective at measurement.
The report also found the biggest challenge facing talent leaders in all categories is the skills shortage. Other challenges cited as significant barriers include: retention of new starters, changing political landscape and increasing cost per hire.
Respondents who work with an RPO provider to support their talent acquisition process have a more significant impact on business outcomes than exclusively in-house teams. RPO partnerships outperformed at: innovating to meet the demands of the business; delivering quality hires consistently; and demonstrating agility to meet changing demands.
Seb O'Connell, Cielo's Managing Director of Europe and APAC, commented: "Whilst it is understood that Talent Acquisition is not the only influence on the profitability of an organisation, the difference in profitability between the Low Impact and the High Impact functions is so significant that it has to be considered as a core contributing element. The research proves organisations that appropriately invest in their talent acquisition function see the most value."
Download full report here .