The War For Talent
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The War For Talent

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The reality of the war for talent in 2010

The reality of the war for talent in 2010

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The War For Talent The War For Talent Presentation Transcript

  • Wanda Goldwag    
    • THE WAR FOR TALENT
    • Principle:
    • The top ten percent of your employees contribute exponential value to your business (read – PROFITS!)
    • Fact:
    • These kinds of individuals (particularly in Western Economies) are in very high demand and very short supply (and the problem is getting worse)
    • Action:
    • Create a TALENT MANAGEMENT PROGRAMME to identify, nurture and develop your current and future leaders (read – TOP 10%)
    • Outcome:
    • The majority of leading businesses globally now have well developed Talent Management Programmes and source on a worldwide basis
    •  
    •  
    • THE WAR FOR TALENT: THE BIT THEY LEFT OUT......
    • The impact of globalisation:
    • Opening up of markets has led to mass economic migration and free movement of highly skilled labour
    • Off-shoring and outsourcing:
    • The skills are there but they may not be on your own payroll anymore
    • Too much focus on the top 10% disenfranchises the rest:
    • The need to manage talent further down the food chain too!
    • The increasing impact of technology in modern businesses:
    • The growth in importance of the knowledge worker
    • THE WAR FOR TALENT :..... THE REALITY
    • The war for talent only highlighted one of the key challenges associated with Human Capital Management for medium to large size organisations
    • Increasingly, it has been junior and mid-level skill based roles which have proven to be where the biggest shortages in talent really are
    • THE PEOPLE CHALLENGE
    • To be a world-class company - requires world class employees
    • Talent management – a given that the people at the top are the very best but to sustain 30% year on year growth you need the vast majority to be exceptional
    • Generation Y issues – 60% plus of the staff are in transit and see this role as a stepping stone
    • More drivers fewer passengers – the constant need for people to take on new challenges
    • THE ‘BIG’ DECISION
    • To outsource all resourcing and talent management activities to a specialist Human Capital Consultancy like True North. Why?
    • Cost – you spend a great deal of money on your Human Capital, even small efficiencies can have a big impact
    • 2. Expertise – to get the most innovative ideas quickly which is essential given the rate of growth and change
    • Accountability – all of the information in one place with clear lines of responsibility
    • 4. Speed – you might be able to do this for yourselves eventually but it would take longer and probably cost more...
    • THE SOLUTION
    • The process from the bottom up...
    • Define and understand the corporate DNA:
    • What makes an employee ‘special’ for your business?
    • How do you define that – the language
    • How do you share that – the communication internally
    • Recruit every hire against the corporate DNA:
    • Often the ‘strongest’ candidate on paper fails the DNA test
    • Only target relevant communities for candidates
    • The best people are not ‘mass market commodities’
    • Make the experience exceptional – even for those people you turn down (i.e. 99.9 %!)
      • Today’s candidate is tomorrows customer and they will become good brand ambassadors for you too
    • CONTROLLING ATTRITION: A DOUBLE EDGED SWORD
    • Positives:
    • Brings in new ideas, energy and enthusiasm.
    • Removes unproductive people
    • Negatives:
    • Affects culture, engagement, morale, costs
    • The reality:
    • A business growing say 30% year on year changes very rapidly. It will outgrow the capability of some of its people every year. Any organisation with a large Customer Operations organisation will experience higher than average attrition.
    • Challenge
    • How do you minimise attrition while ensuring a healthy turnover?
    • PUTTING THEORY INTO PRACTISE
    • BUILD A DIRECT SOURCING CAPABILITY
      • Reduce agency contacts
      • Recruit the best to recruit the best
      • Advertise on company branded sites rather than sites with the company brand
      • Relaunch bounty schemes, analyse results and respond to them
      • Relaunch intranet to drive greater internal movement
    • NARROW CHANNEL APPROACH
      • Only target candidates looking for a job at your company, not candidates just looking for job
      • Focus on selling benefits of working at your company
      • Target the best in the field not the best in YOUR field
    • PUTTING THEORY INTO PRACTISE
    • ENGAGEMENT
      • End to end Employer Value Proposition with no gaps
      • Consistency of approach and of systems
      • Branded from first to last
    • ONBOARDING
      • Incentivise HR teams to focus on on boarding
      • Use recruitment team to ‘handover’ at Induction
      • Make good on your promises
      • Follow up with surveys of key stakeholders in process
      • Capture retention data!
    • INDUCTION DAY – A SORRY TALE OF MISSHAPS?
    • Reaction on Day 1 is all important:
    • How do you make Whoah! Become WOW!
    • First impressions DO count so ensure:
        • The welcome – we are expecting you!
        • The involvement of senior stakeholders
        • Make the day ‘AN EVENT’ – think about ‘branding’
        • Ensure the basics are ready – a (clean) desk, a PC etc
        • Don’t over promise
        • Give people an action plan
        • Ensure everyone has a ‘go-to’ point of contact for even small things
    • PROBATION – OUR PHILISOPHY
    • Probation is a transition:
      • Out of the old job and into the new one – every new joiner no matter how senior will have questions and uncertainty when they join
    • We expect it to be a success:
      • This is not a time to ensure that you made the correct recruitment decision
    • New joiners want to succeed too:
      • Every new starter wants to prove themselves quickly. We work with them to ensure their objectives are visible and achievable
    • Our research shows:
      • 96% of new joiners at one business True North is doing this for are classed as ‘net contributors’ by their line managers within 16 weeks of joining
    • KPMG research shows:
      • The national average for new joiners in the US is 27 weeks
  • INSIGHT INTO THE COSTS
    • Recruitment and retention costs money!
    • The biggest costs are all hidden - Management time, opportunity costs, reduced moral and engagement of staff
    • Things to look out for:
        • Attrition amongst new joiners
        • Frequent extended probation periods
        • Resignations after new managerial appointments
        • Unsuccessful recruitment campaigns
        • Long lead times to fill vacant roles
    • Through more effective deployment of resources True North created gross savings of around 35% in costs per hire between 2007 and 2008 for one company.
  • For more information about the services we offer and how we can help your business grow Contact Wanda Goldwag at [email_address]