Supporting Financial Aid Teams: Talent Acquisition Services To Improve Employee Retention

With many financial aid positions left vacant and current staff taking on multiple roles to keep the department afloat, there is simply no time left to find and recruit quality administrators. The most many hiring managers do when they attempt to hire for an open position is to post on multiple platforms and possibly have their HR department or software narrow down the applicants based on the answers submitted on the hiring application. Managers simply don’t have the time or bandwidth to do proper recruiting.

This is why more and more institutions are hiring companies that offer talent acquisition services to bring in quality applicants. Talent acquisition is not just about hiring new employees, but also retaining them. Recruiting the right employees means finding people that fit well with your organizational culture, values, and vision.

Enhance Candidate Experience: Financial Aid Administrators have their pick of positions and institutions due to the overwhelming number of vacant positions. As mentioned in HRDIVE, 75% of people now working at companies where they had a positive candidate experience said the hiring process influenced their decision to accept their job offer. At the same time, at least 50% of job seekers have declined an offer due to poor candidate experience. People are dynamic, with ideas, intentions, and most importantly, options. Besides great pay and benefits, what makes employees stick around is genuine human connections and workplace culture. By developing more human and less transactional relationships with prospective employees, companies are able to contribute to employer branding on a much more personal level.?

Hiring Efficiency: Hiring, firing, re-hiring, re-training, and recruiting are extremely expensive business costs. When companies are not investing in a quality talent acquisition team, recruiting and hiring become inefficient. Inefficient hiring leads to additional training and employee turnover. When positions are not filled with high quality candidates and engaged employees, the institution suffers. Without quality recruiting and efficient onboarding procedures, most companies will get stuck in a cycle of unending turnover leading ultimately to high costs, burdens on existing staff, and frustrations from managers.

Hire Passive Candidates: Sometimes the right person for your workforce might already be a part of a different organization. ?The recruitment plans that only extend to candidates actively looking for a job can make it hard to find qualified candidates with enough experience. Using Talent Acquisition Services to add passive candidates to your talent pool helps you bring in candidates who have proper training on the job, as well as good experience to help them efficiently manage their roles.

In conclusion, talent acquisition is no longer just about filling vacant positions. It's a holistic approach to building a workforce that aligns with an organization's values, goals, and culture. Investing in talent acquisition services can give institutions a competitive edge, enhance retention rates, and encourage positive employer branding. As a recruiter or hiring manager, it's crucial to consider investing in talent acquisition services to attract and retain the best talent and support your organization's growth and success.

At Higher Ed Consulting, we understand the unique challenges faced by financial aid teams in the ever-changing higher education landscape. Our team of experienced consultants specializes in analyzing your organizational needs and vacancy intake to determine selection criteria, then search and attract the best member for your team. If you are looking to fill your vacant positions with qualified long-term administrators, contact Higher Ed Consulting today. Visit our website www.hecenterprise.com and let's shape a future where every student has access to the financial resources they need for academic success.