New HCI Report Explores How Companies and Universities Can Partner to Enhance Talent Acquisition
Organization’s Latest Talent Pulse Research Shares Proven Strategies for Companies to Successfully Collaborate with Higher Education Institutions
NEW YORK (July 7, 2015) – The Human Capital Institute (HCI), the global institution for strategic talent management, today announced the release of its newest Talent Pulse, a quarterly research eBook addressing the biggest trends and challenges of talent management. This latest report, “Collaboration U: Business and University Partnerships to Secure Talent Pipelines,” examines how companies are collaborating with universities to ensure that education and training align with the job skills required for the business environment of both today and tomorrow.
In recent years, organizations have been challenged by a significant and constantly growing skills gap in today’s workforce, making it difficult to find, engage and hire individuals with the experience and expertise to be successful. In addition, there appears to be a disconnect between higher education institutions that are preparing the next generation of workers and the employers who expect to hire them, with many employers finding today’s college graduates unprepared to meet the demands of their positions. So, what are organizations and educational institutions doing to ensure that talent pipelines are secure and able to keep up with the demand of a competitive global economy?
In an effort to answer this question, the latest Talent Pulse report from HCI explores where the skills gaps primarily exist and investigates the top challenges that companies face when it comes to recruiting at colleges. The report also provides a look at organizations’ confidence levels about the strength of their talent pipeline, highlighting the fact that companies are more likely to focus on developing their current employees rather than buying talent externally to fill skills gaps.
Additional insights from the research include:
- Lack of skills goes beyond STEM: Organizations are struggling to fill engineering and technical roles, but they also are concerned with filling managerial and leadership positions. While only 22 percent of respondents to the HCI survey report having a strong talent pipeline for critical positions, companies that do feel secure in their pipeline are recruiting twice the amount of recent graduates than those who report a weak pipeline.
- Direct levels of involvement are better: Although indirect methods of involvement with educational institutions, such as tables at career fairs and recruiters on campus, are the most frequently cited by respondents, more organizations are beginning to understand the value of direct involvement. Many companies plan to establish more of a presence on college campuses within the next three years, including hosting innovation competitions for students and establishing employees as mentors for students.
- There should be a constant eye to brand awareness: Of the companies that report a strong talent pipeline, 79 percent focus on building brand awareness on campuses even when they do not have a specific position to fill. Nearly 90 percent of those same companies also alert students and schools to the essential skills and degrees they need.
“Companies that recognize the importance of the symbiotic relationship between employers and higher education are reaping the rewards of finding and recruiting top collegiate talent who are highly educated and full of innovative ideas,” said Carl Rhodes, HCI’s chief executive officer. “Our latest research provides organizations with key strategies for partnering and collaborating with educational institutions, as well as offers valuable advice from our members who are successfully applying these strategies to hire the skilled graduates they need to maintain a competitive edge within their industries.”
HCI has made “Collaboration U: Business and University Partnerships to Secure Talent Pipelines” available for download at: http://www.hci.org/hr-research/collaboration-u-business-and-university-partnerships-secure-talent-pipelines
About Human Capital Institute (HCI)
HCI is the global association for strategic talent management and new economy leadership, and a clearinghouse for best practices and new ideas. Our network of expert practitioners, Fortune 1000 and Global 2000 corporations, government agencies, global consultants and business schools contribute a stream of constantly evolving information, the best of which is organized, analyzed and shared with members through HCI communities, research, education and events. For more information, please visit www.hci.org.