As optimism about the economy increases and the War for Talent intensifies, employers are boosting their investments to attract and keep the best people, according to Randstad Sourceright's “2018 Talent Trends Report.”

The HR solutions provider surveyed more than 800 C-suite and human capital leaders in 17 countries, and found that 51 percent of employers plan to increase their investments in onsite benefits and innovative technologies this year to improve productivity and retain top talent. Why? A majority (70 percent) are optimistic about the business outlook for 2018 – but that also increases their concerns about talent scarcity.

“Beating the competition for talent in 2018 begins in the workplace,” says Randstad Sourceright’s CEO Rebecca Henderson. “Record low unemployment levels and a growing skills gap are driving employers to focus on improving their overall workplace experience so they can retain top employees and attract potential talent.”

Over the next 12 months, three-quarters of respondents say they also plan to enhance their company’s comprehensive hiring processes by investing in innovative HR technologies and data analytics platforms. More than 76 percent expect talent analytics platforms to play a critical role in sourcing, attracting, engaging and retaining talent this year.

However, technology alone is not enough: it must be coupled with expert insights to deploy a hiring strategy “that is personalized and engaging for each potential candidate,” according to the report.

Randstad Sourceright also found that only 11 percent of the respondents are planning to provide training or reskilling to existing employees within the next twelve months – something more employers should consider, the firm writes.

“With talent acquisition challenges becoming increasingly complex, reskilling current workers can be part of a comprehensive strategy for companies to acquire critical resources while boosting employee retention,” the authors write.

The survey also found that one out of four companies plan to shift more permanent positions to temporary or freelance talent to address the rising talent shortage. A majority (76 percent) say that the right person for any role could be an employee, contractor or contingent worker -- and could come from anywhere in the world.

“At the end of the day, companies faced with a tight labor market must pursue a multi-pronged hiring strategy that incentivizes top performing employees, while attracting hard-to-find talent,” Henderson says. “By implementing an integrated talent approach, companies can improve their workforce agility, retain top employees and increase their employer value proposition to better manage talent and drive overall business growth.”

Instant Insights /

Companies look to HR technology, data to win the War for Talent

More From HR Executive

Related Stories

Recommended For You