Global TA Day: Why Educational Programs Should Be Part Of Your Talent Acquisition Strategy

Learn what MightyCall's plan on the Global Talent Acquisition Day is

Over the past year, the pandemic has caused a major shift in recruitment realities. From the skyrocketed U.S. unemployment rate (up from 3.7.% in 2019 to 8.9% in 2020) to the overnight transition to digital workplaces, a skills gap in 75% of job applicants, and a drop in recruiting budgets for over 50% of businesses, new times are calling for new solutions in talent acquisition.

Against this background of an evolving business world, our company chose to focus on a new strategy for celebrating Global Talent Acquisition Day 2021. Instead of a one-off celebration, we’ve decided to make Global TA Day the jumpstart of a long-term talent acquisition strategy: educational outreach programs for students and young professionals.

As we discovered, educational outreach practices like internships and mentorship programs (both online and offline) are essential for businesses invested in long-term growth. Here’s why educational outreach became a fresh part of our corporate culture, how it can reinvent your talent acquisition strategy, and why Global Talent Acquisition Day is a terrific occasion to start.

Ninety Percent of HR professionals and employers place soft skills and emotional intelligence (EQ) on par with hard skills, especially in the environment of remote and hybrid workplaces. However, the same research shows that 89% of failed employees stumble precisely over this missing link in talent acquisition: inadequate soft skills.

In the hiring process, soft skills are often overshadowed by hard skills, but in the long run, the former determine the employee’s longevity in the company. Remember the earlier cited skills gap present in 75% of the current workforce? Any experienced manager will remembers such candidates. They were hired because they looked “good on paper”, however, they turned out to be a complete misfit when it came to syncing with the team culture and values. Unfortunately, such problems always surface late, when a new employee is weeks to months into their work.

At MightyCall, we discovered that educational programs are a highly effective solution in defining the human and EQ potential of prospective employees. Prior to setting up an educational program like internship or mentorship, the company’s HR and leadership team should draw on the company's values to define what kinds of people, not simply workers, they wish to attract. Leaders may then make a list of soft skills most prized at the company. Don’t go for something general, like “trustworthiness”. Be specific (e.g. "initiative-driven", “bold creator”, “strong self-management skills”, “caregiver”, etc.) and among your interns, look for people that possess those particular character qualities.

When young professionals come out of educational programs having a strong understanding of the values a company embodies, people with similar ideas always “stick around”. They feel drawn to become a part of your team or will enthusiastically recommend your company to others. This in turn not just acts as organic networking and marketing but attracts “keepers”, which means your talent acquisition strategy gets a natural booster shot.

In 2021, employers focus not just on filling in old gaps left by the receding economy but on filling in new roles. Studies show that over 90% of employers are now hiring for new roles to recover and adapt to new business environments. For companies, new roles mean new opportunities. For employees, they mean new responsibilities. Educational programs effectively merge the two.

Educational outreach through internship and mentorship programs provides companies with opportunities unavailable through standard hiring procedures. Instead of finding a “general fit” for a new junior-level position, by investing several weeks or months in educational training, company experts can train interns with a target on particular skills needed for the position. Employers also have a fantastic chance to parse through the group of interns/mentees and spot the best talent “in action”. This is nearly impossible in a regular work environment where employees don’t have the chance to prove themselves until they’re hired.

While educational programs like internships and mentorships may seem a longer-winded approach to talent acquisition than just hiring a “ready” employee, companies that have strong educational programs don’t just “acquire” talent. They “create” their next best employees. In light of evolving workplaces and roles that demand wider expertise than ever before, this approach to talent acquisition helps tailor employees to the unique needs of your business.

Here’s a fact: losing an employee costs a company 33% of that employee’s annual salary. For example, if you’ve got an employee with a $30,000 annual paycheck (the median salary of half of American workers), then you’ll lose around $10,000 while looking for a replacement. Just think of how much a senior expert will cost a company.

A company that engages in educational practices doesn’t just acquire new talent and take part in its formation. It also retains talent. A learning environment for young professionals engages your established experts to take an active part in workplace culture through the practice of nurture.

We found that a worthy practice is to engage not just senior-level experts (who often run short on time) but middle-level specialists as mentors. Middle-level specialists provide great value to the interns while getting a strong impetus for personal growth within the company. By becoming mentors to the interns and mentees, middle-level experts feel valued and rewarded within the organization and are usually extremely happy to share their experience.

As part of corporate culture, educational outreach programs establish strong bonds within teams and form generational ties where knowledge is effectively passed on while new trends are absorbed. It’s no wonder that even in light of a better-paying position, over half of employees choose the environment where they feel appreciated.

As we get ready to celebrate Global TA Day, the long-term benefits will depend on whether our celebrations are just a single-day event or a permanent investment in the company's growth. It’s the latter kinds of celebrations -- ones that include the launch of new projects and goals -- that will provide ultimate value to your company.

While setting up educational programs calls for planning and effort on behalf of your existing employees, this farsighted TA strategy works on multiple levels by spreading the word about your company, forming your own best talent, and cultivating the loyalty of all employees.

Best of all, the benefits of educational outreach aren’t limited to TA Day celebrations. When leaders at all levels, from company CEOs to HR departments and team leads encourage talent acquisition through educational programs, the company plants seeds of long-term growth that yields a rich harvest year-round and becomes a source of pride for generations to come. This Global TA Day, our business’s talent acquisition course is set. And yours?