A recent study from Harvard Business discusses
how a company’s own board of directors, seen as the business lighthouses
guiding the organizations to business success, demonstrates how these business
leaders view the success of their company’s own talent management strategies.
In short, these companies are awarded a big fat F
by those brilliant business minds that are guiding the organizations. Something
has to change because the current model isn’t working. Without an effective
talent management strategy recruiters are sourcing and spending time on
candidates that won’t make it past the qualification stage of your process.
This is a waste of crucial resources that your company can spend on building a
better company culture or newer HR technologies.
A talent management strategy isn’t just HR or the
recruiting team’s responsibility. It’s an entire company initiative focused on
the entire employee life cycle from engaging to sourcing to recruiting to
hiring to onboarding to developing to promotion to exiting and every point in
between. Without focusing on the overall employee life cycle companies will be
doomed from the start. The process in today’s recruiting world goes far beyond
the simplicities of hiring and firing employees, but it extends outward towards
the entire cycle from pre-screening to retirement.
According to these leaders, the areas of
opportunity include diversity, firing, and rewarding talent-assessing talent
which actions commonly associated with management and business leaders not just
hiring and recruiting. Without overall strategies your company can never take a
holistic approach to talent management and will be doomed from the beginning.
How do you fix these problems? Here are just a few suggestions on how to start
turning your entire strategy around:
Build a
talent pipeline. Building a talent pipeline is one of the most
effective ways to start recruiting from a pre-selected group of already
qualified candidates. Start working with applicable candidates in building a
secure pipeline.
Invest in
a community. Talent Networks like Talent Circles allow recruiters
to be a part of the conversation instead of applicants filling like a data set in
company’s CRM. Building a community allows each candidate to feel special and
will more likely want to stay as a candidate whether they’re actively or
passively seeking employment.
Hire based
on skill not only work experience. When candidates apply for your
company and have a skill set that is what you want, don’t look past them if
they don’t have necessary experience. Take it as a way to mold the candidate
into an employee you want them to be instead of retaining bad practices from
previous employers.
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