Covid-19 is affecting the hiring landscape with 38% of companies globally putting their recruitment on hold as a result of the pandemic and 17% reducing the number of planned hires this year, according to research released today by Alexander Mann Solutions in partnership with Aptitude Research.
Still, quality of new hires remains a top priority for 60% of businesses, according to the report.
“The pandemic has dramatically changed the landscape of talent acquisition,” said Neil Jones, managing director APAC at Alexander Mann Solutions. “Organizations have adapted and adjusted their priorities, processes, and budgets with limited resources. After years of building strategies and roadmaps, many talent acquisition leaders have been forced to reconsider these plans overnight.”
The report also found workforce planning is becoming more important. The report’s survey found that, in April, 30% of companies said workforce planning was a capability gap and priority, up from 12% saying the same before the pandemic.
However, only 24% of companies were increasing talent acquisition budgets after the pandemic compared to 64% prior to Covid-19.
“The events of 2020 have undoubtedly accelerated the need and desire for the talent acquisition function to think differently about how they run their business; however, the lack of investment and unpredictable environment means 2020 is more likely to be the year of refocus, repurpose and planning,” Jones said.