2 - The War for Talent
The most important corporate resource over the next 20 years will be talent:smart,sophisticated business-people who are technologically literate, globally astute, and operationally agile. Talent really does matter – for example “top software developers are more productive than an average software developer not by 10x, 100x, or even 1000x … but 10,000x” (Nathan Myhrvold, former Chief Scientist, Microsoft) According to The Conference Board of Canada, “the war for talent is fierce, and is likely to become more so with the massive number of employees retiring in the next five years. Top organizations are moving beyond the vanilla “employer of choice” concept to a more rigorous strategy of attracting and retaining the right employees through branding.” Here are the facts: The Conference Board of Canada predicts a shortage of 1 million skilled workers by 2020. By 2006, for every two workers leaving the workforce, only one will enter. 2.6 new jobs are expected to be created for every person entering the workforce. Younger workers are now bosses of the older workers. The key to attracting and retaining scarce skills is to be, and be seen to be, a first-tier employer that can meet the needs of high potential/high performance employees. Traditional workforce planning is being replaced by talent strategies and skills gap analysis. Once they determine the gap, it becomes clear what talent they need to hire, to layoff, or to develop or transfer internally.
Now is not the time to sit in the ivory towers thinking you know who your major contributors are. You need to dig deep into the organization to identify the top talent, the high performers in every aspect of your business. In all likelihood it’s not the people who are the most politically astute or the most popular. Traditional marketing practices are going to have to be applied to recruitment. Employer branding and unique selling points with a strong differentiator are imperative. Look at strategies such as changing your employer brand from the groan-inducing “we’re a big successful company” to a company delivering on the promise of continuous learning, work-life balance, personally-fulfilling roles and innovative reward and recognition programs. 5 Some recruitment effectiveness strategies include: Employment branding Ongoing recruiting, not stop-start Nurturing relationships with strong candidates, even though no jobs for them are currently available Referrals – this is particularly effective with Generation “Y”ers. They do everything through leveraging their networks. They are always connected – using mobile phones, text messaging, instant messaging, blogging or email. Realistic job previews Managers trained in interviewing (so that they will create a favourable impression of company) Selection criteria – Can they do the job? (Competencies) Will they do the job? (Motivation) Can we offer them what they are looking for? (Cultural Fit) Rapid response and follow up – Hard to hire skills are in high demand Debrief candidates as quality control monitoring for recruitment
process Most candidates will not get jobs – but they might be current or future
customers, hence the importance of handling the rejection process effectively. Note: Ceridian surveys rejected candidates to get their feedback on the entire recruiting and selection process. Even though we have not hired those candidates, their feedback about the process and their treatment during it is very favourable. Recruitment, while strategic, involves a lot of administration. Now is the time to outsource some of those tasks to organizations that have the people, technology and process so that you can decrease time-to-hire, increase the quality of your candidates and reduce your expenses…which leads into our next point. 6
2 - The War for Talent The most important corporate resource over the next 20 years will be talent:smart,sophisticated business-people who are technologically literate, globally astute, and operationally agile. Talent really does matter – for example “top software developers are more productive than an average software developer not by 10x, 100x, or even 1000x … but 10,000x” (Nathan Myhrvold, former Chief Scientist, Microsoft) According to The Conference Board of Canada, “the war for talent is fierce, and is likely to become more so with the massive number of employees retiring in the next five years. Top organizations are moving beyond the vanilla “employer of choice” concept to a more rigorous strategy of attracting and retaining the right employees through branding.” Here are the facts: The Conference Board of Canada predicts a shortage of 1 million skilled workers by 2020. By 2006, for every two workers leaving the workforce, only one will enter. 2.6 new jobs are expected to be created for every person entering the workforce. Younger workers are now bosses of the older workers. The key to attracting and retaining scarce skills is to be, and be seen to be, a first-tier employer that can meet the needs of high potential/high performance employees. Traditional workforce planning is being replaced by talent strategies and skills gap analysis. Once they determine the gap, it becomes clear what talent they need to hire, to layoff, or to develop or transfer internally. Now is not the time to sit in the ivory towers thinking you know who your major contributors are. You need to dig deep into the organization to identify the top talent, the high performers in every aspect of your business. In all likelihood it’s not the people who are the most politically astute or the most popular. Traditional marketing practices are going to have to be applied to recruitment. Employer branding and unique selling points with a strong differentiator are imperative. Look at strategies such as changing your employer brand from the groan-inducing “we’re a big successful company” to a company delivering on the promise of continuous learning, work-life balance, personally-fulfilling roles and innovative reward and recognition programs. 5 Some recruitment effectiveness strategies include: Employment branding Ongoing recruiting, not stop-start Nurturing relationships with strong candidates, even though no jobs for them are currently available Referrals – this is particularly effective with Generation “Y”ers. They do everything through leveraging their networks. They are always connected – using mobile phones, text messaging, instant messaging, blogging or email. Realistic job previews Managers trained in interviewing (so that they will create a favourable impression of company) Selection criteria – Can they do the job? (Competencies) Will they do the job? (Motivation) Can we offer them what they are looking for? (Cultural Fit) Rapid response and follow up – Hard to hire skills are in high demand Debrief candidates as quality control monitoring for recruitment
process Most candidates will not get jobs – but they might be current or future
customers, hence the importance of handling the rejection process effectively. Note: Ceridian surveys rejected candidates to get their feedback on the entire recruiting and selection process. Even though we have not hired those candidates, their feedback about the process and their treatment during it is very favourable. Recruitment, while strategic, involves a lot of administration. Now is the time to outsource some of those tasks to organizations that have the people, technology and process so that you can decrease time-to-hire, increase the quality of your candidates and reduce your expenses…which leads into our next point. 6
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2 - The War for Talent
The most important corporate resource over the next 20 years will be talent:smart,sophisticated business-people who are technologically literate, globally astute, and operationally agile. Talent really does matter – for example “top software developers are more productive than an average software developer not by 10x, 100x, or even 1000x … but 10,000x” (Nathan Myhrvold, former Chief Scientist, Microsoft) According to The Conference Board of Canada, “the war for talent is fierce, and is likely to become more so with the massive number of employees retiring in the next five years. Top organizations are moving beyond the vanilla “employer of choice” concept to a more rigorous strategy of attracting and retaining the right employees through branding.” Here are the facts: The Conference Board of Canada predicts a shortage of 1 million skilled workers by 2020. By 2006, for every two workers leaving the workforce, only one will enter. 2.6 new jobs are expected to be created for every person entering the workforce. Younger workers are now bosses of the older workers. The key to attracting and retaining scarce skills is to be, and be seen to be, a first-tier employer that can meet the needs of high potential/high performance employees. Traditional workforce planning is being replaced by talent strategies and skills gap analysis. Once they determine the gap, it becomes clear what talent they need to hire, to layoff, or to develop or transfer internally.
Now is not the time to sit in the ivory towers thinking you know who your major contributors are. You need to dig deep into the organization to identify the top talent, the high performers in every aspect of your business. In all likelihood it’s not the people who are the most politically astute or the most popular. Traditional marketing practices are going to have to be applied to recruitment. Employer branding and unique selling points with a strong differentiator are imperative. Look at strategies such as changing your employer brand from the groan-inducing “we’re a big successful company” to a company delivering on the promise of continuous learning, work-life balance, personally-fulfilling roles and innovative reward and recognition programs. 5 Some recruitment effectiveness strategies include: Employment branding Ongoing recruiting, not stop-start Nurturing relationships with strong candidates, even though no jobs for them are currently available Referrals – this is particularly effective with Generation “Y”ers. They do everything through leveraging their networks. They are always connected – using mobile phones, text messaging, instant messaging, blogging or email. Realistic job previews Managers trained in interviewing (so that they will create a favourable impression of company) Selection criteria – Can they do the job? (Competencies) Will they do the job? (Motivation) Can we offer them what they are looking for? (Cultural Fit) Rapid response and follow up – Hard to hire skills are in high demand Debrief candidates as quality control monitoring for recruitment
process Most candidates will not get jobs – but they might be current or future
customers, hence the importance of handling the rejection process effectively. Note: Ceridian surveys rejected candidates to get their feedback on the entire recruiting and selection process. Even though we have not hired those candidates, their feedback about the process and their treatment during it is very favourable. Recruitment, while strategic, involves a lot of administration. Now is the time to outsource some of those tasks to organizations that have the people, technology and process so that you can decrease time-to-hire, increase the quality of your candidates and reduce your expenses…which leads into our next point. 6
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