In order to acquire right talent, the aggressive firms are : Putting work where the talent resides Subcontracting outsource contracts for low value activities to other locations/ nations Opening offices in locations that compete directly with their clients Offering very lucrative compensation packages for key players who return or are willing to relocate to a place or a country of business In short, the war for talent is no longer a local war, but rather a global one that will drive the evolution and practice of talent acquisition While implementing innovative modes of recruitment, mix of right media and channels for recruitment is vital. Innovative usage of newspapers and business magazines helps create pull to the substance of the HR Practices. Marico, for instance, promoted a series of well structured articles on how common employees with uncommon sense of innovation and creativity are encouraged and empowered. This helped the future employees (Students, working professionals etc,) understand the on the ground and genuine efforts the company is putting in for offering canvas for employee self expression. Other than normally used campus building tools, presenting Career Maps of the students / alumni is a potent practice for building the presence. One creative way to engage the students is by assigning them the projects related to business / market issues (e.g. market research study, product feature study). This helps in two ways : Their intellectual energy is leveraged and they feel attracted to the company’s brand by being partners in it’s business thought process.
Talent Edge : Talent Acquisition - a Strategic Approach NHRDN Conclave 20.1.2011 Sharad Gangal EVP- HR,IR & Admin ‘ Talent Acquisition and Retention is not just a skill, it is an organizational Attitude ’!
<ul><li>Talent Attraction : Major Business Challenge </li></ul><ul><li>Strategic Talent Framework </li></ul><ul><li>Some Talent Acquisition Methods to suit changed scenario </li></ul><ul><li>Some Key Elements of a robust Talent Acquisition </li></ul><ul><li>Strategy </li></ul>Agenda
Talent Attraction : A Major HR Challenge <ul><li>Rapidly changing economic scenario : Emergence of BRIC. Multiple choices available for the employees across the globe. </li></ul><ul><li>Rapidly Shrinking World : Social Networks, Faster Information exchange </li></ul><ul><li>A BCG survey spanning 83 countries shows that developing and retention is a challenge. A staggering 60 % + executives felt insufficiently engaged </li></ul><ul><li>Educated VS Talented Dilemma </li></ul><ul><li>Demand Exceeds Supply and Loyalty is Portable. </li></ul>
Strategic Talent Framework Talent Acquisition Talent Development Talent Management Talent Retention HR Policies and Planning Employment Branding Cultural Induction Leadership Development OD Interventions : E-Groups of the Talent, Learning & Development activities Performance Management Reward & Recognition Talent pipeline, Career Development (job rotations, fast track schemes), Succession Planning Retention policies Employee Engagement
Some Talent Acquisition Methods to suit changed scenario Virtual Acquisition (Direct / Lateral Sourcing): Job portals, knowledge communities, campus communities, competition intellegence Talent Tracking : Newsletters that advertise internal movements and appointments can be tracked and used for internal mapping Campus Building : Building long term relationship with the Campuses. Ongoing visibility enhancement through Early mover advantage, On-campus Promotions, Academic Programmes etc. Bonds without Ties : Openness to acquire and leverage talent in a non conventional manner (Bubble Assignments,Facilitators)
Build Employment Brand : Mechanisms such as Success Stories / Experience sharing, Campus Bonding will yield an Employment Brand that is strong on the following parameters : Some Key Elements of a robust Talent Acquisition Strategy <ul><li>1. Brand Awareness </li></ul><ul><ul><li>Degree to which candidates are familiar with your brand </li></ul></ul><ul><li>3. Brand Differentiation </li></ul><ul><ul><li>The degree to which candidates percieve differntiation between your and other recruiter’s brand </li></ul></ul><ul><li>2. Perceived Quality </li></ul><ul><ul><li>The degree to which your firm is recognized as having a positive reputation </li></ul></ul><ul><li>4. Brand Impact </li></ul><ul><ul><li>Extent to which your Company’s brand reflects the impact, e.g. good ranking on “Best Place to Work”, employee referral rate, employee survey observations, community participation </li></ul></ul>Innovative Talent Scout : Market the openings – evangelize employment. Create “Pull” for the candidates by microtargetting. Get an approachable, persuasive, non-intimidating talent “Collector ”
Define, Standardize processes , then Deviate if Need Be : Define the “Tickets of Entry”, Assessment Mechanisms, Culture Fit evaluation process for the new hires. However, don’t let this to be a trap. E.g. while position pre-requisites are essential, don’t be afraid to explore non-conventional backgrounds and dip into the diversified talent pool Track the Strategy: Yearly soul-searching on Acquired- Leveraged – Retained- Exited with cause & effect focused lens is vital. Important insights will also come from the Employee Engagement Survey. Some Key Elements of a robust Talent Acquisition Strategy