Delmarva Shrm Economic Tsunami Presentation

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Delmarva Shrm Economic Tsunami Presentation

  1. 1. The Economic Tsunami: How Businesses Are Rethinking Recruitment & Retention
  2. 2. People Practices During Past Recessions <ul><li>Early 1970’s-1980’s: Mostly furloughs. Brought staff back. </li></ul><ul><li>Early 1990’s: Layoff and re-engineering </li></ul><ul><li>Early 2001: Layoffs, Business focuses on core and outsource the rest. </li></ul>
  3. 3. People Practices During Today’s Recession <ul><li>Today: August 2008 to present. </li></ul><ul><ul><li>Layoffs </li></ul></ul><ul><ul><li>Aggressive workforce plans </li></ul></ul><ul><ul><li>Reductions in employee costs </li></ul></ul><ul><ul><li>Close watch on overhead </li></ul></ul><ul><li>80% of business have done some form of lay off or reorganization through this recession </li></ul><ul><li>Business is running at 2004 or 2005 levels in revenues yet most public companies cut staff to year 2000 levels </li></ul>
  4. 4. How Workforce Planning as we know it emerged <ul><li>1970’s Thirty years and the gold watch. Age of personnel and the search firm. </li></ul><ul><li>1980’s: The rise of the temporary workforce. </li></ul><ul><li>1990’s to today: Development of all things outsourcing </li></ul><ul><li>Today? The Film industry </li></ul>
  5. 5. The business earthquake hits… <ul><li>Stopped hiring / Froze vendors </li></ul><ul><li>Organizations are managing performance; limited replacements </li></ul><ul><li>Furloughs and early retirement </li></ul><ul><li>Cut temporary workers </li></ul><ul><li>Cut hours </li></ul><ul><li>Stopped employment branding programs </li></ul><ul><li>Cut HR & Recruitment staff </li></ul><ul><li>Reduced or cut employee related costs </li></ul>
  6. 6. Recruitment Landscape during 100 year flood <ul><li>Organizations today need to: </li></ul><ul><ul><li>Control their recruitment spend (5%) </li></ul></ul><ul><ul><li>Reduce overall risk (11%) </li></ul></ul><ul><ul><li>Get predictable outcomes (5%) </li></ul></ul><ul><ul><li>Have flexibility & scalability to meet business needs (35%) </li></ul></ul><ul><ul><li>Adapt with new skills or work models (41%) </li></ul></ul><ul><ul><ul><ul><ul><li>Results of Poll Conducted on Linked In </li></ul></ul></ul></ul></ul>
  7. 7. Through the worst of it? <ul><li>Best practices lost </li></ul><ul><li>Technology not being used </li></ul><ul><li>Recruitment spigot turned off </li></ul><ul><li>Talent won’t move – fear factor at play! </li></ul><ul><li>6 unemployed workers for every open job </li></ul>
  8. 8. What is the impact on the HR Professional? <ul><li>You cut your staff </li></ul><ul><li>You cut your budget </li></ul><ul><li>Time to turn on a dime… </li></ul><ul><ul><li>Focus on morale </li></ul></ul><ul><ul><li>Address retention of top talent </li></ul></ul>
  9. 9. Survival is a Victory! <ul><li>You have survived the first tremor, Congratulations! </li></ul><ul><li>The Wave is coming and its impact may be greater than the first </li></ul>
  10. 10. Two questions to ponder… <ul><li>What have you done to survive the recession relative to recruitment and retention? </li></ul><ul><li>How do you intend to move forward relative to recruitment and retention? </li></ul>
  11. 11. Daily Pulse – what are Mid-Atlantic companies doing? <ul><li>Pushed hiring to business units </li></ul><ul><li>No planned hiring </li></ul><ul><li>Outsourced a skill set this is high volume </li></ul><ul><li>Cut back on flexible staff </li></ul><ul><li>Added contract recruiters for peaks </li></ul><ul><li>Push for outsourcing to create cost savings </li></ul><ul><li>Hire temporary employees </li></ul><ul><li>Shift away from job boards to lower costs </li></ul><ul><li>Rise in social media as a recruiting strategy </li></ul>
  12. 12. Daily Pulse in Retention <ul><li>Offer more flexible work arrangements </li></ul><ul><li>More training </li></ul><ul><li>Promising future benefits </li></ul><ul><li>Performance driven incentives </li></ul><ul><li>Salary </li></ul><ul><li>Title and salary </li></ul><ul><li>Losing key talent </li></ul><ul><ul><ul><ul><ul><li>Information gathered from Careerbuilder.com Survey 11/2009 </li></ul></ul></ul></ul></ul>
  13. 13. Riding out the rogue wave… <ul><li>Do you have a post recession Talent Acquisition Strategy? </li></ul><ul><ul><li>Should you add back staff? </li></ul></ul><ul><ul><li>Why not use temporary workforce? </li></ul></ul><ul><ul><li>There is a place for search firms. Do you know when and how to use them properly? </li></ul></ul><ul><ul><li>Should you look into partial or full outsourcing of the function? </li></ul></ul>
  14. 14. Riding out the wave… <ul><li>Rebuild connections </li></ul><ul><li>Restore trust </li></ul><ul><li>Re-engage remaining workforce </li></ul>
  15. 15. Reflections <ul><li>Will you catch the wave? </li></ul><ul><li>Rethink workforce models </li></ul><ul><li>Remember the workforce “Clint Style” </li></ul><ul><li>Do something simple with retention </li></ul><ul><li>How will you respond? </li></ul>
  16. 16. <ul><li>Phone: (877)746-8450 </li></ul><ul><li>Visit us on the web: www.thecbigroup.com </li></ul><ul><li>Follow our blog: www.thecbigroup.com/blog </li></ul><ul><li>Join our LinkedIn Group: </li></ul><ul><li>CBI Group – Leaders in Recruitment Solutions </li></ul>Leaders in Recruitment Solutions To Learn More About CBI Group:

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