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In the ever-changing world of recruitment, companies face both challenges and opportunities in 2024’s ongoing talent war. Navigating these dynamics requires strategic talent acquisition (TA) planning, especially as broader trends shape the workforce.
As Q4 planning ends, it’s time to assess your 2024 talent acquisition strategy and explore new ways to foster a positive candidate experience. Unsure where to start? Dive into three real-world case studies showcasing the ways companies have successfully brought these goals to life.
If you need help getting started with your 2024 recruitment plan, read our detailed 2024 planning ebook here.
Prioritize Diversity, Equity and Inclusion (DEI) in Your Recruitment Program
If you’ve read our ebook, you’re aware that skills-based hiring is on the rise. The traditional workplace model is changing, and companies sticking to strict corporate structures might overlook talented individuals with unconventional backgrounds.
Embracing skills-based hiring enables companies to stay competitive by reaching out to underrepresented groups and individuals with unique career paths. Adopting this intersectional approach also helps organizations address common DEI challenges by removing barriers and promoting fairness.
Case Study: Steelcase Integrates a Skills-Based Hiring Approach in their DEI Strategy
Steelcase, a prominent furniture manufacturer, collaborated with the W.K. Kellogg Foundation’s Expanding Equity program in 2017 to actualize their DEI goals. They built a recruitment system that:
- Embraced a skills-based hiring approach
- Promoted inclusive hiring practices
- Established diversity-focused HR roles
- Removed entry barriers for candidates
- Created more inclusive job postings
- Prioritized evidence-based skills
Steelcase worked with diversity-focused programs like HireReach and Thurgood Marshall College Fund to establish inclusive talent pipelines. They also built more accessible hiring processes to attract candidates from varied backgrounds.
Instead of using traditional career cues like college degrees or certifications, Steelcase’s recruiting team overhauled their job postings to appeal to a more diverse candidate pool. They employed Textio, a language-focused recruitment marketing software, to detect and remove gender-biased wording. They also encouraged recruiters to focus on core competencies, skills and candidate value.
The company’s new hiring approach was a success. Since the program’s inception, 55% of Steelcase’s new hires are women (a 2% increase from 2021) and 30% are from racial or ethnic minority groups.
Isabel Medellin, Steelcase’s global director of DEI and talent acquisition, attributes this to their methodical approach. “I’m proud to say we have a systems approach to drive DEI progress and the results are evident while acknowledging we have opportunities for improvement – it’s a combination of looking at different accelerator factors and trying to eliminate barriers to drive progress.”
Effective skills-based hiring can strengthen your DEI strategy by seamlessly integrating into your organizational framework.
Support Employee Well-being and Mental Health
A few years ago, “workplace wellness” was considered a trendy buzzword. After the world felt the pandemic’s impact on physical and mental health, employees no longer view wellness benefits as a fad. It’s now a significant factor in talent acquisition and retention.
Nearly 54% of Gen Zers and 58% of millennials view company wellness programs as an important factor in their job search. Additionally, 45% of employees at small-medium businesses state that they would stay at their jobs longer if they had a strong wellness program. If employers want their organization to flourish, they’ll need to support their employees first.
Case Study: Bank of Ireland Supports Employees through Holistic Mental, Physical and Emotional Health Benefits
In 2022, Bank of Ireland (BOI) revamped their wellbeing program. Known as Power Down & Recharge, the program concentrated on reshaping colleague policies and fostering overall health to support employees throughout their well-being journey.
BOI revolutionized their employee policies in 2023 when they introduced its Family Matters program. Their enhanced policies are designed with families in mind: they offer up to seven weeks of parental leave, 13 weeks of paid leave, foster care, fertility, surrogacy and early pregnancy leave.
To support hybrid and flexible work, the team crafted return-to-office guides and built an in-office well-being studio. They offered special health benefits like Gympass, free meditation apps and subsidized gym access.
BOI’s Group CEO Myles O’Grady emphasizes the importance of employee support for mutual company growth. “As one of the largest employers in Ireland, we want to build a progressive workplace and contribute to a progressive society. This is also important for our business which competes hard to attract and retain the talent we need to serve our customers, support growing businesses, and also grow as a company.”
Their approach worked—in a recent survey, the bank reported improved employee engagement scores, increased work positivity and a more supportive work environment. Burnout went down by 4% that year and was below the industry average.
Holistic wellness programs don’t just show your employees that you care—they also boost workplace engagement and productivity.
Retain Employees with Talent Management and Development
Solely focusing on talent acquisition isn’t enough. Employers must now nurture their existing workforce and provide career growth opportunities to keep up with fast-paced technology changes. Skills needed for today’s job market have changed 25% since 2015, and are expected to double by 2027. Companies are training their teams to stay ahead and prepare for new careers that contribute to organizational growth.
Case Study: PepsiCo Launches an Upskilling Program for Career Mobility
With over 300,000 global employees, PepsiCo has a significant manual workforce in manufacturing and distribution. In response to a widening skills gap, PepsiCo launched an upskilling program to equip front-line employees with future-focused career support.
The organization’s myeducation benefit gives full-time employees access to 100+ diploma and degree options, prioritizing high-demand skills. The company covers 100% of tuition costs, books and fees within its debt-free catalog. PepsiCo partnered with Guild Education, an education and upskilling platform, to design the program. In 2022, 311 participants experienced role changes, with 125 earning meaningful promotions and 13 securing priority job roles.
The company also collaborated with Gloat, a talent management software, to launch a project-based learning system called myDevelopment. Employees can apply to “stretch projects” and acquire new skills. They can also experiment with new job roles through 90-day assignments before fully committing. This removes barriers for employees with limited relevant experience and offers a chance to start a new career journey. Project outcomes are also logged for internal job applications and interviews.
PepsiCo’s upskilling initiatives go beyond fulfilling internal hiring needs. The goal is to nurture employees’ skills, fostering their growth in alignment with the company’s future.
“Our priority is to keep humans at the center of our digital transformation,” said Athina Kanioura, Chief Strategy and Transformation Officer at PepsiCo. “It’s not just about filling in the gaps; it’s also about advancing their careers. Increasing digital knowledge—not just on my team, but across the organization—can have a positive impact across the entire company.”
Blend talent management and development to keep your best employees, address current hiring needs and cultivate a future-ready workforce.
Master the Art of Talent Acquisition in 2024
Align your hiring strategy with what candidates want in 2024. Now is the perfect time to redefine your hiring goals and refresh your program.
While we’ve shared some talent acquisition strategies, this list isn’t exhaustive. For further insights on building a dynamic workforce in 2024 and beyond, download our 2024 Recruitment Marketing Planning Ebook.
For more tips on planning for your 2024 and many other tools to help your recruitment marketing efforts, visit our marketplace now. Happy hiring!