April 2014 HR News Roundup
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As our world becomes interdependent and more connected, the demand for global talent continues to increase as the competition becomes worldwide. This article begins with defining globalization along with occurring trends such as the need for global talent, supply and demand of skilled workers, and technology’s role within the recruiting space.
Many companies, whether global entity or a small business, need great talent to reach its organizational goals. For bigger, multinational firms, the need for global talent is greater because it needs to accommodate its global consumers. It’s important to attract and retain the best talent whether it be domestically or from abroad. This article goes into details on methods to combat the need for global talent and also mentions how talent in the U.S. is affected by the rising talent abroad. Many people are able to perform the same tasks for less, so businesses rely on recruiters to go to out and find those talented people. Recruiting firms with a global presence have a greater chance at reaching talent abroad. Technology is also changing recruiting by breaking down geographic barriers. There are some challenges that come with advancements such as various databases and different applicant tracking systems. The last point the author made is the ability to use technology effectively to gain the strong foothold globally.
This article begins by defining proprietary metrics and the industries in which it’s used most often. The author uses Baseball as an analogy to illustrate the real time data teams receive due to advances in metrics. Teams are able to use the data to enhance the franchise. The author goes on to detail the secrecy behind propriety metrics to gain a competitive advantage. The article transitions into types of talent metrics that need to be developed and the importance of continuous improvement.
It’s critical for organizations to be aware of different metrics because numbers can reveal many things such as progressions in trends and candidate effectiveness. In the trend toward big data, having a proprietary talent management metric system is crucial in improving the organization. While it’s difficult to develop, previous experiments have shown that the use of analytics had a great impact on businesses. It’s important to continue adapting and improving metrics because other organizations copy ideas that work, thus, eliminating the systems’ competitive advantage. This article also gives suggestions on how to use certain metrics in specific areas. These are just suggestions to jump start the right next metrics to use depending on the organization.
Talent acquisition has become a hot-button topic amidst of the talent war. Advancements in today’s society allows for greater transparency, which is changing the way companies recruit top talent. Highly recruited candidates are looking for different things in their place of work than in previous years. In today’s society many people are looking to work at a place where their work is meaningful. The article goes on to explain further what candidates are looking for when choosing a place of work.
This article may seem generic, but it’s filled with useful information. Recently, LinkedIn conducted a study about talent trends, so this article is digging deeper into findings from the study. There are different ways to define what a “great place to work” is. The article breaks down sections of the study to make a point about what desirable talent really want. It also provides a link to the original LinkedIn study.
Some HR departments are beginning to deal with workforce changes because of the Baby Boomers, but some of them aren’t ready to retire, creating a problem. While Boomers are beneficial to a workforce because of the knowledge and skills they possess, they may drive away many high potential employees by limiting advancement opportunities. This article discusses various ways to keep those high potential employees.
High potential employees are vital to the future or an organization. Once the Baby Boomers leave, these are the people that will be taking over the Boomers’ roles. To avoid a drop off in talent, HR departments must consider the long-term benefits of keep those high potential employees. This article provides tips such as implementing a mentorship system, professional development opportunities, etc. to show those employees that they matter. While they aren’t moving up the ladder as fast as they would like, high potential employees need to know that they are an important part of the organization.
To attract the best candidates, a company must position itself by creating a unique brand. At the same time, the company already has an established brand for its consumers. The article mentions the dynamic between attracting potential customers versus potential employees. The two groups vary, so each requires a unique brand. The article mentions the different relationships that occur when interacting with the two groups and the risks and rewards that come as a result.
With the plethora of blogs mentioning the importance of employer branding, this article is not the typical article about branding. The dynamic between a consumer and a potential employee is great, so it makes sense to keep the employer brand separate from the company brand. The article goes on to explain why the two groups are different and the end goals involved in attracting people for the different target groups. The risks and rewards associated with the two groups differ because the level of emotional involvement for potential employees accepting an offer is greater than that of a consumer deciding whether or not to buy a product.
Having great HR leaders is important to the health of the company. This article identifies five traits that can harm an HR department which includes using faulty metrics, failing to track results, not taking enough calculated risks, not conversing enough, and failing to align its goals with the mission of the organization. In addition to discussing the traits in more detail, the author also explains their significance.
The beginning of the article isn’t as important as the five traits that are listed later on. Much of the company runs through HR such as implementing the right policies, making sure that the talent the organization possesses is adequate for the job duties, staying on top of compliance issues, etc. Just like any other department, the people at the top need to set an example to the subordinates because those people are the future of the organization. HR leadership is critical for an organization, so it’s important to identify traits that can make or break an efficient HR department.
This article accesses five biases and how it keep peoples from their full potential. The author begins by taking a psychological approach to explain why we have certain biases and then goes on to explain each bias in more detail. The five biases in mentioned are the Halo Effect, System Justification Bias, Recency Bias, Ingroup Bias and Confirmation Bias.
For HR professionals, constant evaluation is key in making sure you are doing the best job possible. Everyone wants to be the best, but there may be a few hurdles along the way. Sometimes people act subconsciously and don’t stop to think about certain actions they take. This article is a good benchmark to evaluate and determine any biases that prevent one from being the best HR professional.
This article discusses the use of metrics to continuously improve various trends within HR. A few topics the article covers are the issues with talent acquisition, the dilemma in supply and demand in talent, the use of internal and external data in the decision making process, how competitive advantage can be hindered and the metrics used to monitor and change risks.
There are numerous articles pertaining to metrics, but this one is about using it to manage risk. Regardless of the industry, some risks have to be taken, but it’s the calculated risks that are worth taking. Additionally, the lack of certain resources also pose risks for the organization, so it’s important to understand what contributes to those risks.
This article details 12 reasons why HR must speed up the process of hiring. This article also discerns certain myths associated with speedy hiring. Topics discussed are losing in-demand candidates and prospects, lost productivity as a result of slow hiring, damaged external employer brand image, decreased customer service and hidden hiring costs.
Hiring is expensive so HR needs to be aware of which practices can take away from hiring the best candidate. While Hiring shouldn’t be done so quickly to where you pick just anyone, but at the same time, it shouldn’t be so slow that you miss out on top candidates. Hiring should be treated like any major investment. Not only is hiring expensive, but also affects the organization top to bottom both directly and indirectly. This article analyses why the craft of hiring must be perfected. The hiring process has negative consequences if one hires too slow in addition to hiring too fast.