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talentmanagement RSS feed Tag: talentmanagement

Not All Turnover Is Bad — Why Keeping Every Long-Tenure Employee May Be Overrated

by May 11, 2015, 5:48 am ET

Screen Shot 2015-05-07 at 9.53.39 AMThis is “a think piece” — it is designed to cause you to rethink any preconceived notions that you might have that the retention of long-tenure employees is always a positive thing.

As turnover rates for employees continue to increase, there seems to be an almost universal agreement among HR and managers that “we must do something” to retain our employees. But take a step back and think about it: should all employees be kept or just the ones who currently and in the future produce high value?

In particular, should the employees with the most tenure be automatically kept, even though they may be expensive, and in some cases, they may be one of the primary roadblocks to corporate change? In fact the goal of this article and my many years of research on the topic is to identify the top potential issues that can be attributed to long-tenure employees.   keep reading…

What’s Driving the Pay Increases, and What It Means to Recruiters

by May 6, 2015, 5:40 am ET

Screen Shot 2015-04-30 at 3.39.05 PMIn mid-February, the CEO of Walmart announced that the company, long pilloried for its low wages, would be raising its starting pay to at least $9 per hour and increase it to $10 per hour next year. This move followed on the heels of an announcement the prior day that retailer Gap, Inc. was raising its minimum starting wage to $10 per hour. A month prior, the CEO of health insurer Aetna announced that it would be raising its minimum starting wage to a whopping $16 per hour resulting in an average of an 11 percent raise, and as much as a 33 percent increase for some.

What could possibly be driving this seeming flood of generosity from some of America’s largest and most successful companies? keep reading…

Use Company Culture to Hire Top Talent and Engage Your Team

by Apr 1, 2015, 6:10 am ET

Screen Shot 2015-03-25 at 9.52.43 AMHiring for cultural fit is one of the main mantras within recruitment nowadays. Recruiters are encouraged to look beyond skills and past the job description to find candidates who “fit” with the organization and its values.

By contrast, we don’t talk nearly enough about how to create a company culture that can attract the best talent. In fact, the results of a recent survey suggested that just over half of companies don’t have a defined culture! This is crazy at a time when top candidates are increasingly concerned with “culture,” and often use it as a differentiator when deciding where to apply.

Inevitably when people bring up company culture, the conversation drifts to perks. How do we top a competitor that offers free dinner for employees working late? We have to provide free lunch! This is never the best way to approach the culture question. There will always be companies that can offer better “things.”

Instead, company’s need to think about creating a working environment that attracts top candidates and can get their team excited to come to work every morning. keep reading…

Revealing the ‘HR Professional of the Decade’ – Laszlo Bock of Google

by Mar 30, 2015, 5:45 am ET

LaszloBock576GreenA Case Study Compilation of the Amazing HR Practices That Make Google the Benchmark to Learn From

Using any set of assessment criteria, Laszlo Bock of Google has been in the vanguard in creating revolutionary change in the profession of HR to the point where he has earned the title of “HR professional of the decade.” Under his leadership, Google has literally led the way in innovation in all aspects of HR and it has become the world’s only data-driven HR function. Its willingness to continuously try completely unique approaches has resulted in Google being rated the No. 1 best place to work by numerous independent groups (Fortune six times, Fast Company, Glassdoor, Universum, and LinkedIn).

Working at Google has such a powerful employer brand draw that it receives an unparalleled 3 million applications a year, even though applicants only have an estimated 0.2 percent percent chance of getting hired.

But it’s more than just image that Mr. Bock has helped to create, because Google’s workforce productivity is simply amazing at $1.23 million per employee each year.

Not only has he molded the HR function at Google in nine short years into the benchmark model that everyone admires, but he has been extraordinary in his willingness to share his knowledge with both HR professionals and potential job applicants. Even though I have been writing and speaking in the HR field for three decades, I have never come across a leader who deserved the title of HR professional for an entire decade. HR is a unique field where very few corporate HR leaders are known by name throughout the profession but Laszlo Bock is clearly the exception, primarily because he openly shares what he has learned, even when it runs counter to standard HR thinking.

An Overview of the Amazing People Management Practices at Google keep reading…

Forget the Fixtures. Upgrade Your People

by Mar 25, 2015, 5:41 am ET

Delta+Flight+Attendants+3+smA regional convenience store chain with a not-so-stellar reputation recently renovated the store located a couple miles from my house. It’s actually quite beautiful as c-stores go — bright and open with new fixtures, colorful signage, and a classy stone façade.

But what happened in front of the refurbished building is what really caught my attention during my visit there last week. keep reading…

The Future of Predictive Analytics — the Next Generation of Talent Metrics to Consider (Part 2 of 2)

by Mar 16, 2015, 5:52 am ET

A comprehensive list of future predictive talent metrics

In last week’s part one of this article that was published on March 9, 2015, I highlighted the fact that the majority of current predictive metric efforts have focused on only a handful of basic metrics. I next provided a list of the top 18 metrics that should be developed during the second-generation of predictive metrics. This final part one covers the future predictive metrics that should be developed during the third generation.

The Third Generation Of Predictive Analytics keep reading…

The Future Of Predictive Analytics – The Next Generation of Talent Metrics to Consider (Part 1 of 2)

by Mar 9, 2015, 5:22 am ET

A comprehensive list of current and future predictive talent metrics

The use of predictive analytics is a hot issue and a developing trend in talent management. But unfortunately as a longtime thought leader in the area, most of the current prediction efforts are extremely shallow. And as a result, they will have a minimal impact because they only cover a few basic areas like predicting employee flight risk and identifying the selection factors that predict hiring success. What will eventually be needed is a broader array of second- and third-generation predictive metrics covering many more advanced talent management factors.

If you’re curious about what factors must be measured in the future, here is a comprehensive list of the predictive talent analytics/metrics that should eventually be developed by forward-looking talent leaders. keep reading…

Hire Like Google — Project the ‘Career Trajectory’ of Your Candidates

by Feb 23, 2015, 5:49 am ET

job movementI frequently get asked the question “What is the one thing that recruiting functions should be systematically doing, but for some unexplained reason, it doesn’t do it?”

Well, one quick answer to that question is “to project the career trajectory of potential hires.” Which simply means to assess whether a candidate, after they are hired, are likely to progress and develop at top speed, average speed, or below average speed in critical areas like learning, promotion, leadership, and innovation. keep reading…

Why Companies Are Investing More in Workplace Flexibility Programs in 2015

by Feb 6, 2015, 5:42 am ET

Screen Shot 2015-01-27 at 11.42.25 AMWe’ve been hearing a lot about workplace flexibility because work/life balance is much more complicated in today’s always-connected technology world. The idea of disconnecting from work after you head home to be with your family is not realistic anymore since business is 24/7 instead of 9-to-5. keep reading…

Show Me These 4 Things and I’ll Show You a Quality Hire

by Dec 26, 2014, 5:31 am ET

Screen Shot 2014-12-16 at 10.33.22 AMQuality of hire is such a broad metric to quantify. There are certain metrics which provide a baseline talent and HR leaders can use to make decisions, add corrections, or make improvements, such as cost per hire, source of hire, and time to fill, to name a few. They can be calculated relatively easy. Quality of hire is certainly an important metric to measure, yet can be a complicated metric to calculate as there can be varying factors that influence it.

It happens every day across Corporate America … Mr. or Ms. hiring manager has an open position and calls down to recruiting or out to their trusted search partner and says, “I need to upgrade the talent and quality of this position.” But what truly constitutes a great quality of hire? I posed this question to multiple talent leaders and hiring managers and every single one of them provided differing criteria.

Read most HR/recruiting blogs or platforms and you’ll find many avenues on how to rate quality of hire: keep reading…

Companies Focus On Worker Stress as Talent Gets Harder to Keep

by Dec 23, 2014, 5:13 am ET

Vacancy duration Oct 2014After years of asking workers to do more with less, companies in 2015 will focus on employee burnout.

“Developing policies and procedures that relieve employees’ sense of being overwhelmed at work and promote sustainable work habits will be one of the top organizational change management initiatives of 2015,” says ClearRock, a leadership development, executive coaching, and outplacement firm.

Citing worker engagement studies from Gallup and a joint study by The Energy Project and the Harvard Business Review, ClearRock says that the high number of workers who are, to some extent, disengaged –  70 percent of the workforce, according to Gallup — results in lower productivity and the spread of negativity. keep reading…

CFOs Becoming More Involved With HR

by Nov 13, 2014, 6:43 pm ET

CFO role survey 2014CFOs are becoming more involved in human resources issues, as companies more and more break down traditional silos in favor of ever greater collaboration among departments and divisions.

Better than 8 in 10 CFOs say their responsibilities have expanded in the last three years to touch areas as diverse as marketing and operations. Human resources leads the list, with 21 percent of the 2,100 CFOs surveyed saying their job now includes at least some involvement with HR issues. Following closely, 19 percent of CFOs reported having some responsibility for IT. keep reading…

More than Money: Simple Perks Can Point to Great Employers

by Nov 12, 2014, 5:57 am ET

It can be tempting to dismiss the glowing praise of those who work at great employers in technology and other fields flush with cash. After all, what’s not to like about free smoothie stations, unlimited time off, Cadillac health plans, and other accoutrements of organizations that seem to spare no expense in attracting talent? But dig deeper, and you’ll find that some of the most valued policies at companies with satisfied employees aren’t necessarily about money. Here are a few worthwhile perks for HR professionals to consider, regardless of their industry or resources for employee benefits.

Flexibility keep reading…

By a Landslide, Flexible Work Is a Success

by Oct 15, 2014, 3:27 pm ET

Screen Shot 2014-10-15 at 12.27.15 PMSeventeen times as many HR professionals say that telecommuting on a regular basis is successful than say it is unsuccessful, according to a study released today. keep reading…

HR Ranks at the Bottom — Reasons to Adopt Metrics and Predictive Analytics

by Sep 29, 2014, 12:55 am ET

When you survey the most frequent users of analytics and metrics in the corporate world, not surprisingly you find that HR ranks at the very bottom. Compared to finance, which is ranked No. 1, HR compares poorly with only half of its functions being classified as advanced users and three times more HR functions are classified as non-users.

HR shouldn’t be surprised to learn that the executive team came in No. 2 because they (along with finance) are at the forefront of demanding more metrics and analytics from HR. The remaining business functions, operations, R&D, marketing, and sales all had a higher percentage of advanced metrics users than HR in this excellent 2013 AMA/i4cp study. I have been a public advocate of talent management and talent acquisition shifting to a data-based model for decades but the transition at most corporations has been slow, expensive, and painful. Because I give regular presentations on analytics and metrics, I’ve been able to capture a long list of reasons why firms should shift to a data-based model. The remainder of this article is simply a list of credible reasons that resonate with most HR audiences as to why your corporate talent function should embrace metrics and a data-based decision model.

Part I – Reasons Why Every Firm Needs to Shift to Data-based HR Model Using Standard Metrics and Analytics keep reading…

Workforce Speed — the Most Impactful Talent Factor That No One Is Managing

by Sep 15, 2014, 12:50 am ET

Screen Shot 2014-09-11 at 2.22.46 PMI work in the Silicon Valley, where we have a long-established mantra of “faster, cheaper and better.” But now no matter where you work in the world, almost everyone can sense the fact that every aspect of global business now seems to move significantly faster than it did even 10 years ago. You could even label the 21st century as “the century when speed dominated.” This increased speed means that new products and product features come to market at an amazing rate, copying is almost immediate, everything you rely on seems to become quickly obsolete, and long-established businesses routinely lose out to faster moving startups.

In this environment, even notable fast-mover firms like Google and Apple occasionally don’t move fast enough. This was the case where they both failed to effectively seize on the amazing social media and microblogging opportunities that the faster-moving startups Facebook and Twitter quickly dominated.

In the past, the business domination rule was simple … Large and established firms will dominate the smaller ones.

However the new rule has become “It’s the fast-moving and rapidly adapting firms that now dominate the slower ones, whether they are large or small.”

If Your Firm Changes Slower Internally Than the External World, it Has No Future keep reading…

Retention — The Top 10 Ways a Manager Can Identify Who Is About to Quit

by Jul 28, 2014, 12:49 am ET

There are few things that are more shocking to a manager then to have one of their top-performing employees suddenly quit on them. Some managers have described it as the equivalent to a “kick in the gut.” It is a shock not only because losing a key employee will damage your business results, but also because managers hate surprises, and as a result, they frequently wonder how they missed the signals that this person was going to leave.

Employee turnover is always an important issue, but most managers are unaware of the fact that overall, turnover rates went up 45 percent last year. And because I am predicting that they will go up at least 50 percent this year, individual managers should be aware of the precursors or warning signs that can indicate that an employee is considering looking for a job, so they can act before it’s too late.

After 20+ years of research on predicting turnover, I have found that if you approach the problem systematically, you can successfully identify which individual employees are likely to quit with an accuracy rate of over 80 percent. Firms like Google, Xerox, and Sprint, as well as several vendors, have developed processes for identifying who might quit. But for most managers, you must realize that you will simply have to develop your own identification process. So if you know of a manager who is worried about turnover, pass this list of turnover predictors to them so they won’t be surprised when their next employee announces that they are quitting.

The Top 10 Ways a Manager Can Determine if an Employee Is Considering a Search for a New Job keep reading…

Closing the Engagement Gap

by Jul 9, 2014, 12:25 am ET

Screen Shot 2014-06-22 at 8.19.53 PMEmployees can be a very big recruiting resource

A recent report by PR firm Weber Shandwick — Employees Rising: Seizing the Opportunity in Employee Activism – has a lot to say about the potential for tapping employees as a recruitment resource.

The report is based on a global survey done by the firm. The survey found that engaged employees can become activists for their employers. They can be an employer’s best advocates, promoting the company as a great place to work. Many employees actively defend the reputations of their employers. More than half of all employees surveyed reported defending their employer to family or friends or in a public form like a website or a blog.

But they can also be its worst opponents. Just read the reviews on Glassdoor for proof of both.

None of this should be a surprise, but what’s most interesting in the report is that employee advocacy is a largely untapped resource. keep reading…

What to Do If You Rely on Trained Employees

by Jul 2, 2014, 12:06 am ET

fed reserve chicagoRecently I got to be a fly-on-the-wall at the quarterly Industrial Roundtable luncheon at the Federal Reserve Bank of Chicago. Yes, it was a fancy lunch in a fancy boardroom, and I was very impressed — but that’s not the point. In the room, there were about 20 leading Midwestern industrial manufacturers and distributors updating the Fed’s staff economists on the state of their businesses and industries.

I’m neither an economist nor an expert in manufacturing, so many of the details of their reports were a bit over my head. I can say that no one in the room was particularly excited or worried by the economic situation. The general consensus was that modest growth was expected to continue for the near future.

I did hear some disturbing concerns, though. keep reading…

Company Culture: Your New Secret Recruiting Weapon

by Jun 26, 2014, 12:08 am ET

Screen Shot 2014-06-24 at 2.57.24 PMRecruiting is an arms war, with rapidly advancing technology and complexity. At stake is the future of your company. Social media has changed the game, raising expectations of the applicant experience and making everything faster and more connected. Employees and prospects have the upper hand and our tactics have to keep up.

But we can all name companies that are snagging (and keeping) top talent. So beyond the most recent recruiting weapons, what one thing is helping them win that race?

Company culture.

What’s Culture?

keep reading…