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Talent acquisition strategy

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Talent acquisition strategy

  1. 1. TALENT ACQUISITION STRATEGY Using Checkland’s Soft Systems Methodology (SSM)
  2. 2. Stage 1: Define and Understand the Problem Situation Global Talent Acquisition is a unique challenge, especially for a business such as Pump Corporation. The company offers a range of highly engineered industrial products that serve a diversified customer base in over 50 countries. Without the required human capital in place, especially in the emerging markets, Pump Corporation could fail to achieve its business objectives. The current Average time-to-Fill is greater than 90 days.
  3. 3. Stage 2: Express the Problem Situation Economy Customer Demand Business Requirements E E c c o o n n Internal Talent Pool o Internal Transfers / o Business Objectives Promotions m m y 1. Budget Workforce Plan y 2. Criticality / Timing 3. Geography 4. Internal Equity Employment / Labor Law Organization Hiring Policies Selection Practices Retirement Prospective External Candidates Types of Positions Knowledge, Skills & Abilities External Labor Pool Attrition Economy
  4. 4. Stage 3: Select how to view the situation from various perspectives Subsystems InterdependenciesEconomic subsystem Small changes in the global economy can cause tremendous changes in talent supply and demand, which can be greatly exacerbated in certain local markets. This adds to the complexity of the system as the macro economy is an aggregate of several economies that are at varying points of maturity.Customer Subsystem There is a constant feedback cycle between the business operations and the ever-changing demands of the customers. As the needs of the customers evolve, the talent needs of the business shift accordingly.Business Requirements Through its annual planning cycle, Pump Corporation re-examines its headcount plans, pivotal skillset needs, and plots them against business segments and geographic locations. These human capital plans drive the talent acquisition activity levels of the organization. The primary business constraints such as budget, timing, geography, internal equity of compensation, etc. have to be taken into consideration while formulating the talent acquisition plan for each segment, region, and location of the overall corporation.Workforce Plan It is a dynamic process that changes along with the business requirements, the attrition of existing talent and the availability of external talent. The business requirements set the level of the stock, the attrition is the outflow and the promotion of internal talent as well as the addition of external talent is the inflow.Internal Talent Subsystem Human capital is less mobile than financial or technical capital, local economic conditions in certain markets can cause unusual imbalances between supply and demand. For example, Pump Corporation may have a greater supply of engineers in a developed market than in an emerging market, but it is often not possible for the engineering talent to relocate to where it is needed. This immobility of talent results in an imbalance in the emerging market and could cause that particular emerging market to become a leverage point on the entire system.External Labor Pool The scale of the external labor pool is contingent upon many factors such as the local economic growth, theSubsystem unemployment rate and demographic trends of the populations (including age, educational level, ability to relocate, etc.).Prospective External This subsystem is a derivative of the external labor pool. The main criteria to create inflow into thisCandidate Subsystem subsystem are matching the specific talent needs of a position to the skills of the available candidates. The resulting filtering sometimes produces counterintuitive consequences. For example, a population with a high unemployment rate may still not produce enough candidates to meet demand if the skill levels are not adequate.
  5. 5. Stage 4: Build conceptual models of the system requirements Business Requirements / Qualified Turnover / Workforce Plan External Retirement Candidates Prospective Internal Talent External Talent Pool Pool External hires to meet desired staffing levels Discrepancy• The business requirements/workforce plan is the balancing feedback loop.• The greater the discrepancy between internal talent and the desired staffing levels, the greater the need for the organization to find talent externally.• The external talent pool is a renewable stock, but replenishment is not immediate.
  6. 6. Stage 5: Compare the conceptual models (stage 4) to the real world expression (stage 2) Donella Meadows Ludwig von BertalanffyThe concept of buffers: A buffer’s ability to stabilize a system The concept of feedback and homeostasis: Ideally, theis important when the stock amount is much higher or lower system should be at homeostasis when there is an eventhan the potential amount of inflows/outflows match between supply and demand within the system.Because the global business environment is very competitive, However, because the talent acquisition system is highlythe buffer of talent at any given time is quite small. If there dynamic, with many leverage points and few buffers, there isis a sudden increase in demand, there is very little excess rarely a good match between supply and demand and thetalent capacity to absorb the demand. This results in a system is rarely in homeostasis.dramatic increase in demand relative to supply. Similarlywhen local market conditions turn adverse, there is arelatively small financial buffer in the system, resulting in anincrease in supply relative to demand, and therefore, theneed to adjust the talent base quickly to meet theenvironmental conditions.
  7. 7. Stage 6: Identify feasible and desirable changes to improve the situation1. Take care of the stocks2. Create an increased flow in critical growth markets while ensuring there are no system leakages3. Reduce system delays by proactively identifying sourcing channels4. Stay tuned to the cloud5. Have a dynamic workforce planning process
  8. 8. Stage 7: Develop recommendations for Action Provide the right talent on time and where needed Strategy Employment Targeted Talent Selection Future Resource Brand Pools Competency Requirements Recognized global Targeted talent pools and Talent assessment and Workforce planning thatFuture State Employment brand recruiting resources that selection competency, identifies future resource 3 Year achieve identified workforce tools & processes that requirements with planning requirements improve overall quality of emphasis on critical skills in hires and time-to-fill emerging markets • Develop employment • Develop consistent • Develop consistent • Develop process and message that attracts top global university staffing practices tools for aligning future Key Objectives talent relations and recruitment • Develop selection talent needs and gaps • Establish Flowserve as an practices assessment tools to meet business employer of choice with which align with strategy strong employment brand • Identify and manage competencies • Alignment of talent recognition and a positive sourcing channels which • Develop & deliver acquisition, succession candidate experience delivers a strong pipeline interview training to planning, and internal • Establish a social media of talent drive strong selection talent movement roadmap practices and provide processes with strong candidate workforce forecast experiences Social Media University Relations Global Talent Acquisition Talent Acquisition Dashboard Focus Areas Best Practice Processes Career Portals Recruitment Events and Workforce Planning Sourcing Resources Selection Assessment Tools Interview Material Vendor Selection and Interviewing Skills Training Management
  9. 9. Questions? Comments?

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