Chapter 4 - Attracting Top Talent / The New Priority Flashcards
Why is talent important?
High performers are 400% more productive than the average ones.
Great talent is scarce
Failure to attract and retain top talent was the number one issue in survey of global CEOs before economic growth and competitive intensity.
Talent shortage is getting higher. Advanced economies up to 95 million workers could lack the skills required for employment.
Engagement - The Key to Talent Attractiveness
Barriers to engagement- smart content about the organization and the job (mostly not exciting)
Following gaps in the approach and comprehension of organizations:
1) inability to adopt modern marketing approach while hiring
2) ignorance of the importance of familiarity
3) undermining the smartness of applicants
4) failure in building and stewarding Employer Brand
Drivers of successful engagement
Candidates want a clear understanding of the company culture, employee experience and the job itself.
Job research channels
Marketing content (candidates are most interested in company values)
Job related content
Monitoring candidate experience quality
Employer Value Proposition
What employees get for what they give
Gives: time, effort experience ideas
Gets: experience rewards
EVP should be strongly distinctive and differentiated, sharply targeted, real and believable
Hiring Process and Talent Attractiveness
5 best practices
1) write clearly worded job descriptions
2) make employee testimonials available
3) show that feedback is respected in the company (top frustrations-not being heard)
4) provide agendas and timelines for the hiring process
5) exchange feedback with talent
Candidate Experience Management
Candidates are customers and they are used to personalization
6 important aspects organizations may want to care about in their talent search and hiring practices
1) define the exact criteria for talent search
2) develop a compelling recruitment plan (creative title with personal message to ideal person)
3) cast a wide net and mount a targeted effort (start with easiest and least expensive method then for quality use expensive and labor intensive Methods)
4) treat candidates like customers
5) limit the number of interviewers
6) move quickly when you find the right person
Becoming a talent magnet
Attracting talent through showcasing leadership Selling a career not jobs Show the company’s larger purpose and mission (mission and purpose must be evangelized from top) Build creative thinking into role needs Share your social commitment and charity Innovation (introduce innovation labs) Professional development Recognition and reward Teamwork and team building Make the work sound interesting Offer great benefits on top of a strong salary Make the interview process efficient Remote working Making them ‘take risks’ Shirt work hours
Talent magnet example
Aspire Assess Architect Act Advance
Interactive dashboard with metrics on hiring, quality, fit and efficiency
