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COMPETITION FOR HUMAN CAPITAL TO DRIVE NEW GENERATION RECRUITMENT

In addition to economic uncertainties and financial pressures, employers face a growing challenge of availability, competition and retention of skilled workers.


This is according to KC Makhubele, President of the Federation of African Professional Staffing Organisations (APSO), who notes that human capital is arguably the most valuable asset within any organisation and finding the perfect employees - to feed into this pool of talent - is becoming more competitive than ever before.


“Human capital is the collective value of individuals within a business. More businesses are coming to the realisation that this asset, their employees, is vital in achieving business goals and realising strategy.”

“While we witness a rising unemployment rate, competition to source and retain top talent has become an excessively costly and time-consuming exercise for organisations relying on internal resources to take control of staffing processes. This catch twenty-two – numerous job seekers, yet multiple job vacancies requiring skilled workers – is largely due to a mismatch of available skills and those required by the market,” he explains.

Makhubele notes that the basis of candidate competition is shifting from operating with a core group of employees and outsourcing as much as possible to building and maintaining a skilled and efficient employee base.

“This has prompted the need for emphasis on new ways of recruiting, on-boarding and retaining top talent,” he says.

To win this “war for talent”, Makhubele says businesses need to make an effort to retain existing staff who make a valuable contribution to the organisation.
“This often requires a great deal of employee recognition and transparency as well as communicating a clear strategy to grow existing staff and their careers,” he adds.
With this in mind, Makhubele highlights that it is not only essential for organisations to retain existing staff but also to hire the best available candidates to add to the growth, innovation and success of the business moving forward.

He adds that, as a result, APSO expects the new generation of staffing and recruitment solutions to continue picking up speed in the market.
Such solutions include Recruitment Process Outsourcing (RPO), Human Resource Outsourcing (HRO), Contingency Staffing, as well as the use of Managed Service Providers and a variation of permanent and temporary staffing solutions.

Makhubele says, “Depending on the respective company’s resources and requirements, they can choose to outsource all or part of specific staffing functions such as sourcing or screening candidates, administering payroll, managing staffing providers or organising timely temporary replacements for absent staff - this is what makes these solutions so unique.”

According to Everest Group, RPO is one of the fastest growing single-process HRO markets with overall RPO market growth of 13% in 2014.

With noted benefits including access to a broad pool of talent, cost savings, improved time to hire, increased quality of hires and improved efficiencies, these solutions are growing in popularity as potential solutions for organisations facing the “war for talent” challenge,” Makhubele concludes.


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