The Changing Facets of Human Capital Search in 2022

 

Human capital search has undergone a significant change, influenced by technological advances, recession, social media and the gig economy. Previously, areas of human capital services that required utmost attention were finding executives with the right skillsets and succession planning. These days, the increasing competition of CXO level and other executives is the top concern of human capital management. The dynamic business environment has grown to accommodate individualised and employee-focused strategies. Needless to say, the tables have indeed turned now. Let’s explore the critical human capital search trends that define the new employee-focused business environment.

 

Strategies that define human capital services

1. Increased social media presence

Companies are finally beginning to welcome the impact of social media in various aspects of employee engagement. Organisations are finally exploring ways to engage Gen-Z on social media platforms, from shouting the excitement of the successful onboarding of a candidate to celebrating the work anniversary of the loyal ones. Interestingly, online job boards like LinkedIn have gained prominence among both job seekers and recruiters.

2. Improvised employee benefits

The benefits and perks found in job postings significantly impact employees' decisions, particularly CXO-level ones, before committing to an organisation. Top leadership professionals are always looking for companies that offer perks beyond the traditional definition of benefits. To attract top talents, you should devise attractive perks and benefits that genuinely lure them.

3. Constructive feedback

Draconian style performance appraisals cannot win the trust and loyalty of employees. Instead of the structured review formats, managers and top executives should focus on informal real-time reviews that resonate well with millennial employees. Though a perfect performance appraisal system is still elusive, HR executives should find strategies to communicate industry benchmarks of job-specific skillsets to employees.

 

4. Beyond the boundaries of the office

The endless possibilities of remote work have genuinely caught the fantasies of employees. If you are looking to hire and retain top talent, you should be open to a flexible arrangement that works well with the employees. The boundaries of office space should not limit the talent that would be hired for a specific job role. This requires your company to have a perfect understanding of the pitfalls and nuances of remote-hybrid work models.

 

5. The growing enthusiasm for the gig economy

Employees have come to understand the various benefits of the gig economy. Gen Z and the millennial population are enthused more towards racking new skill sets, knowledge, and experiences than committing to one organisation. HR managers should truly understand these changing preferences and roll up their sleeves to meet the different challenges. HR should not try to bind employees with loyalty and tenure. Instead, they should offer enough learning and growth opportunities to motivate the employee to stay on. The HR team should also focus on human capital developmentprocesses, which improve employees' technical, professional, and business acumen to industry standards.

 

Times are changing, and human capital search is taking on a new path in 2022. HR managers should be prepared for the new trends and the culminating challenges that will dictate talent acquisition strategies. For more information on human capital services, do check out www.taplowgroup.com