The War For Talent


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The reality of the war for talent in 2010

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The War For Talent

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