Win the Race for the Best Employees

Race for Employees

Are you winning the race for the best employees? Today’s labor market is highly competitive. The skills needed to perform the work are increasing and the qualified applicants to fill the positions are decreasing.

Talented workers are mobile and are changing jobs more frequently than ever before. There is a shortage of qualified workers and yet unemployment remains at unacceptably high levels. Improvements in efficiency and productivity within all industries have reduced the number of employees needed to meet customer demands, yet employers are struggling to find employees ready and able to work for the pay and benefits they can afford to offer.

The people who are talented are already employed and many prospecting employers are actively recruiting them to switch jobs.

You need to not only attract but retain the best employees to win the talent race. Pay, however, is only one factor when trying to attract or retain talent, and not, according to most studies, even the most important consideration.

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Nervous about Filling Your Talent Pipeline?

nervous about filling talent pipelineAre you getting nervous about how to fill your talent pipeline during the next few years? If you said no, you may want to consider the cold hard facts of what we are facing. According to the Pew Research Center, 10,000 baby boomers will reach retirement age every day from now through 2030. In addition, staggering statistics abound; 50% of U.S. government workers are eligible to retire and 55% of registered nurses can be expected to retire between now and 2020.

While unemployment remains high, finding skilled workers to fill open positions is among the top challenges in virtually every organization. As the economy improves, top talent will have more choices and attrition will accelerate. In addition, “X” and “Y” generation leaders will require us to evaluate our approach to career progression/options, work-life balance and global factors. This, along with strategic uncertainty, the impact of social media and data overload, and the increasing velocity of business, indicates mounting people challenges ahead for businesses large and small.

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DESP… Pick the Right Employee

ESPMany organizations use various tools and techniques for identifying their talent pipeline. Some use a “nomination approach,” while others use traditional tools such as a performance and potential matrix, a tool used by managers to identify high-performing individuals who are potential promotion candidates, creating lists of probable candidates.

DESP: A New Approach to Traditional Succession Planning Models

We suggest that a more comprehensive and objective approach with four key components, or “pillars,” will provide the rigor and discipline to produce a solid and fluid pipeline of talent. The “four pillars” are the critical components to be considered with any strategy.

Each has its own set of contributing factors, and collectively they produce a solid foundation for execution. We refer to this as the “DESP” model.

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New Tech to Manage Hiring

new tech tool to manage hiring

They say data is king. He who gathers and uses the data the best wins, no matter what the goal. So if your goal is to hire the best suited person for the job, are you optimizing your data?

For the last twenty years, the HR solutions for hiring used slow, inefficient processes to choose the right job candidates. Other departments, such as book keeping, sales and customer service evolved from using static, standalone contact systems to more sophisticated automatic systems. These new systems cut down on tedious entry work and added efficiencies and greater performance. They free up labor to perform more personal and human tasks allowing for better customer and prospect engagement and tighter financial performance.

Yet, HR talent acquisition remained limited to software filled with old data that required manual updating and was difficult to use. Time and space were being taken up with paper application or slow digital storing and sorting processes. With these systems, 80 percent of a recruiter’s time was typically spent performing low-level mindless tasks.

However, hiring and development of good talent is getting a boost from more sophisticated data management. Forward thinking companies are now utilizing more sophisticated software systems that use data science and predictive analytics to alleviate the menial work.

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New Role of HR Manager- HSM

New Role of HR Manager- HSM

Hiring and development of good talent is getting a boost from sophisticated talent data management. Forward thinking companies are now utilizing more sophisticated software systems that use automation, data science and predictive analytics to optimize talent decisions while increasing efficiency in talent management processes. This new breed of “smart” hiring software is fueling an emerging category called hiring success management (HSM).

As HSM becomes more prevalent and computers take over much of the routine side of recruiting, some industry watchers have expressed concern that recruiters’ roles would become obsolete. In fact, the opposite is true.

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