The landscape of talent management is changing from minute to minute. Technology is advancing at every turn, creating a need for artificial intelligence (AI) skills on every HR team. Employees and candidates alike have a new set of expectations for their experiences, while skilled workers are more challenging to find and employees harder to retain. On top of that, small and midsize businesses must compete against large companies with far more resources to hire and retain talent.  

4 Key Talent Trends in 2024 

1. The Rise of AI  

76% of HR leaders see AI adoption as crucial, with 50% of HR departments expected to use AI by 2025. Implementing AI saves time, boosts efficiency, and improves insights from employee data. “AI enables decision-making through quality archived data,” said Bill Kane, Partner Growth Manager at VensureHR.

2. Labor Shortages  

“Many industries face a gap between needed skills and available talent,” said Kane. 84% of HR professionals struggle to fill essential roles with skilled workers. “Skills needed for business are ever-changing, making talent harder to find,” said Jack Craig, Channel Engagement Manager at ClearCompany. 64% of managers believe their employees lack future skills. 

3. Candidate Expectations  

75% of candidates say their candidate experience impacts job decisions, and 49% declined offers due to poor experiences. Interest drops by 62% if communication is delayed over two weeks. “Delayed responses can deter candidates from reapplying,” said Craig. 

4. The Employee Experience  

Poor employee experiences affect retention. While 95% of HR leaders are confident, 58% of employees consider switching jobs. Only 50% feel connected to company culture. “Average employee tenure has decreased since 2012,” said Craig. 70% of CHROs prioritize strengthening employee experience and company culture. 

Check out our on-demand webinar with ClearCo. Navigating Talent Challenges: 4 Essential Talent Management Tactics  

4 Essential Talent Management Tactics 

Navigate talent management challenges with cutting-edge technology. 

Automated & Tailored Recruitment Tools  

“High turnover and evolving candidate expectations make fast hiring crucial,” said Craig. ClearCompany’s AI and automation tools enhance the candidate experience and speed up hiring: 

• AI-assisted tools for job descriptions, candidate communications, and offer letters. 
• Virtual Recruiter chatbot for 24/7 engagement, application assistance, interview scheduling, and initial screenings. 
• Text-to-apply and 1:1 text messaging for simplified applications and interview coordination. 
• Automated and self-service interviews for quicker hiring. 

Identify Competencies  

With a skilled labor shortage, understanding current and future skills is essential. “We must prioritize employees’ skills development and invest in upskilling,” said Kane. ClearCompany helps identify top performers’ competencies and align them with roles, filling skill gaps. “Identifying competencies aids in evaluating performance and informing recruiting,” said Craig. 

Elevate the Candidate’s Experience  

“Improving candidate experience is crucial as many turn down offers due to poor experiences,” said Craig. Enhance your brand by showcasing perks, personalizing interactions, and integrating digital processes like ClearCompany’s Virtual Recruiter chatbot. Promote your brand seamlessly across your career site, job postings, and communications to attract more job seekers. 

Improve the Employee Experience  

Cultivate an engaging employee experience by aligning individual and team goals with business goals. “Aligned goals boost motivation and productivity,” said Craig. Recognition is key: “50% of employees who quit felt undervalued,” said Craig. ClearCompany’s recognition tools help incorporate appreciation into your culture, strengthening relationships and boosting morale. 

VensureHR and ClearCompany Help Solve Talent Management Challenges 

Effective talent management is crucial for success in today’s business environment. VensureHR and ClearCompany offer the tools to optimize your workforce and achieve long-term success. VensureHR’s PEO services include payroll, benefits, HR, and compliance, freeing up your time. ClearCompany’s Talent Management System provides all the tools for recruiting, onboarding, and retaining top talent. Together, they enable a comprehensive approach to talent management at every stage of the employee lifecycle. 

Discover how to enhance candidate experience and improve hiring outcomes with ClearCompany’s ATS.