5 Steps to survive the Talent Battle


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This new ebook from Nick Schichtle is extracted from his latest whitepaper "The Impact of Talent: Strategic Insight on Retaining an Optimal Workforce." It delivers 5 steps which will help HR to effectively recognize the value of human capital.

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5 Steps to survive the Talent Battle

  1. stepsto survivethe talentBattlenick schichtle
  2. 2 | five steps to survive the talent Battleintroduction The quality and diversity of talent can directly impact any organization’s nick schichtle efficiency, effectiveness, and profitability— attributes that are key to succeeding in a fiercely competitive business world. As technology advances and the global marketplace continues to expand, the need for quality talent is increasing. However, organizations are finding it difficult to attract and retain skilled people, and the shortage of talent is having a significant impact. You should ask yourself: • How should I assess my talent demands? • What is the appropriate balance in my workforce? • How do I acquire and retain the best people? • How can I ensure that the impact of talent is positive? This e-book is made for you to start to find answers to these questions, and to prepare to survive the Talent Battle. Read, learn, and enjoy. And if you have any questions or comments, please feel free to contact me directly at Nick.Schichtle@kellyservices.com nick schichtlehome introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  3. 3 | five steps to survive the talent Battle01face it: When evaluating corporate resources, companies tend sets that are most essential to how they should structure Welch advises that to make the most cost-effectiverecognize the to place inflated value their workforce will realize the hiring, promotion, and layoffvalue of your on tangible items such greatest return on their human decisions, businesses need as computer equipment, capital investment. to identify top talent andhuman capital furniture, and other material But how can you do this? quantify the value of work commodities. Cost is often output that can be achieved considered before value, with an “A” employee versus a As an example: Jack Welch, particularly when economic “B” or “C” employee. former CEO of General shifts necessitate expense Electric and author of Analyze your workforce controls. Yet the difference Winning, a bestselling primer to uncover gaps in the between cost and value is a on common-sense business company’s talent pool, and critical measure when it comes management, estimates that misaligned talent in essential to human capital. only about 20% of today’s positions. Retention strategies Organizations with a solid workforce can be considered specifically targeted toward understanding of the “A” employees, while 70% top performers will help to employees, positions, and skill fall into the “B” category. ensure that top talent thrives if a company identifies the type of human capital required to meet their business objectives, they can then analyze their workforce and develop an effective workforce plan for sourcing, engaging, and retaining top talent.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  4. 4 | five steps to survive the talent Battle02look inside: As organizations evolve, employees gradually amass hires. It can take a few months or even years for a intentional in aligning talent with the right institutionalthe Benefits valuable knowledge and new person to become a true asset of the company. knowledge to key positions, insight related to what truly where their knowledge canof history and drives the company. Analysts translate into results. In today’s fast-paced experience have postulated that in most organizations, up to 90% economy, the only real You need to assure employees constant in business is of the knowledge of a that they have nothing to change. Employees with solid company is stored in the fear by sharing knowledge. institutional knowledge about heads of its employees. Institutional knowledge their company can help to increases the value of both ensure that corporate goals Because they have a history an organization and its and objectives are not lost in with the organization, they the shuffle of change. people, so foster a culture may be more invested in the that encourages and rewards company and more committed But at the same time, knowledge sharing. to long-term success than new companies should be top-level executives simply cannot know every business process; people who work in the day-to-day are to understand the nuances of a successful company. therefore, the authority to act on institutional knowledge should not be relegated to senior management alone.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  5. 5 | five steps to survive the talent Battle03look outside: Acquisition of new talent— either contingent or Culturally, technically, socially … will they fit and add value? Companies should create a cultural questionnairethe Benefits permanent—can refresh Maybe, but the benefits to evaluate a candidate’s offered by new talent— organizational values.of new talent the talent mix and foster continuous learning and competitive intelligence, new ways of thinking, proven If competitive talent aligns growth. The integration approaches, the energy that well with an organization’s of new people, ideas, comes from proving oneself needs and corporate culture, experiences and successes when you’re new—usually far the results can impact the with veteran employees is outweigh the risks. As far as a company in profound ways. often overlooked as important good cultural fit for new hires, Fresh insights and new ways to the ongoing growth of an structure interviews to evaluate of thinking can provide organization and its people. their organizational beliefs advantage in a constantly Is there a risk associated with and values, such as quality, changing marketplace. selecting talent from outside innovation, or defining and the walls of your organization? achieving goals. managing talent successfully is a balancing act. existing talent helps maintain established processes and objectives, but the fluidity and flexibility of new talent can offer great rewards, particularly when business and workforce demands change rapidly.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  6. 6 | five steps to survive the talent Battle04find the right Retaining and hiring top talent is important, yet equally A strategically aligned and balanced workforce fosters To accomplish this successfully you need a holisticmix: the talent as important is being sure innovation and creativity, as approach, beginning with that your talent portfolio well as maintaining historic the organization’s mission,Balancing act is balanced. The pool of and relevant company muscle corporate strategy, and goals, available talent today is more memory—which directly in order to develop a staffing diverse than ever, and workers correlate to productivity and strategy that will result in an have different benefits to offer profitability. appropriate mixture of talent. in terms of experience, skills, education, and flexibility. you can pack your workforce with nothing but ‘a’ players and still run into problems, if you haven’t balanced your labor pool to put the right skill set in the right responsibilities at the right time.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  7. 7 | five steps to survive the talent Battle05reward the Attracting and hiring a well- balanced talent pool is the effectiveness and routinely replacing low-performing and attracting “A” players than trying to “fix” your “C”Best: retaining foundation of successful employees with high players? top talent workforce planning, but those efforts will be wasted performers. “A” players want to be surrounded by other Retention efforts come in without developing solid ”A” players, thus naturally all forms. Compensation retention strategies. Most creating positive, healthy and benefits alone will not retention efforts focus on competition which fosters suffice. One size does not keeping people engaged top performance. Happy fit all when it comes to and committed, which largely top talent attracts more top employee engagement and encourages “B” and “C” talent, effectively replicating satisfaction. Simply put, figure performers to stick around. a stronger, more productive out what is important to your Real thought should also be workforce. Why not spend most essential people, and given to assessing workforce more of your time supporting provide it. gen y and gen x workers are focused on assuming responsibility and developing skills that will make them marketable to multiple employers. therefore, providing opportunities for training and development can help encourage talented younger workers to stay with an organization.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  8. 8 | five steps to survive the talent Battleconclusion In today’s highly competitive global marketplace, organizations must make effective workforce decisions. Shareholder value and corporate success directly correlate to attracting and retaining quality talent, so having the right professionals with the right responsibilities is critical. Companies have long believed people are their most important asset, but that’s only half of the story—the wrong people can be a significant liability. If companies make concerted efforts to design and strategically balance their workforces appropriately, they position themselves to deliver the optimal impact to business strategies and their collective success.home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report
  9. This ebook is extracted from The Impact of Talent: Strategic Insight on Retaining an Optimal Workforce. DowNloAD your free coPy toDAy.About the AuthorNick Schichtle is Vice President, Americas Product Group, Direct hireSolutions of kelly Services. he holds a bachelor of Science degree in businessAdministration from oregon State university in corvallis, oregon. Specialties:infrastructure Mapping & Development; creation of Positive, competitivecultures; Professional & leadership Development; Performance coaching &Mentorship; team recruitment & Selection; Search training & Development.About kellykelly Services, inc. (NASDAQ: kelyA, kelyb) is a leader in providing workforce solutions.kelly® offers a comprehensive array of outsourcing and consulting services as well as world-classstaffing on a temporary, temporary-to-hire, and direct-hire basis. Serving clients around the globe,kelly provides employment to 480,000 employees annually. revenue in 2010 was $5 billion. exit