5 steps to survive the talent battle

to survive the talent Battle

steps

nick schichtle

introduction

2 | five steps to survive the talent Battle

The quality and diversity of talent can directly impact any organization’s efficiency, effectiveness, and profitability—attributes that are key to succeeding in a fiercely competitive business world. As technology advances and the global marketplace continues to expand, the need for quality

talent is increasing. However, organizations are finding it difficult to attract and retain skilled

people, and the shortage of talent is having a significant impact.

You should ask yourself:

• HowshouldIassessmytalentdemands?

• Whatistheappropriatebalanceinmyworkforce?

• HowdoIacquireandretainthebestpeople?

• HowcanIensurethattheimpactoftalentispositive?

This e-book is made for you to start to find answers to these questions, and to prepare to survive

the Talent Battle.

Read, learn, and enjoy. And if you have any questions or comments, please feel free to contact

me directly at [email protected]

nick schichtle

home introduction step 01 step 02 step 03 step 04 step 05 conclusion get the full report

nick schichtle

mailto: [email protected]

Whenevaluatingcorporate

resources, companies tend

to place inflated value

on tangible items such

as computer equipment,

furniture, and other material

commodities. Cost is often

considered before value,

particularly when economic

shifts necessitate expense

controls. Yet the difference

between cost and value is a

critical measure when it comes

to human capital.

Organizations with a solid

understanding of the

employees, positions, and skill

sets that are most essential

to how they should structure

their workforce will realize the

greatest return on their human

capital investment.

Buthowcanyoudothis?

Asanexample:JackWelch,

former CEO of General

Electric and author of

Winning,abestsellingprimer

on common-sense business

management, estimates that

only about 20% of today’s

workforce can be considered

“A” employees, while 70%

fall into the “B” category.

Welchadvisesthattomake

the most cost-effective

hiring, promotion, and layoff

decisions, businesses need

to identify top talent and

quantify the value of work

output that can be achieved

with an “A” employee versus a

“B” or “C” employee.

Analyze your workforce

to uncover gaps in the

company’s talent pool, and

misaligned talent in essential

positions. Retention strategies

specifically targeted toward

top performers will help to

ensure that top talent thrives

01face it: recognize the value of your human capital



if a company identifies the type of human capital required to meet their

business objectives, they can then analyze their workforce and develop an

effective workforce plan for sourcing, engaging, and retaining top talent.

As organizations evolve,

employees gradually amass

valuable knowledge and

insight related to what truly

drives the company. Analysts

have postulated that in most

organizations, up to 90%

of the knowledge of a

company is stored in the

heads of its employees.

Because they have a history

with the organization, they

may be more invested in the

company and more committed

to long-term success than new

hires.Itcan take a few

months or even years for a

new person to become a true

asset of the company.

Intoday’sfast-paced

economy, the only real

constant in business is

change. Employees with solid

institutional knowledge about

their company can help to

ensure that corporate goals

and objectives are not lost in

the shuffle of change.

But at the same time,

companies should be

intentional in aligning talent

with the right institutional

knowledge to key positions,

where their knowledge can

translate into results.

You need to assure employees

that they have nothing to

fear by sharing knowledge.

Institutionalknowledge

increases the value of both

an organization and its

people, so foster a culture

that encourages and rewards

knowledge sharing.

02look inside: the Benefits of history and experience



top-level executives simply cannot know every business process;

people who work in the day-to-day are to understand the nuances of

a successful company. therefore, the authority to act on institutional

knowledge should not be relegated to senior management alone.

Acquisition of new talent—

either contingent or

permanent—can refresh

the talent mix and foster

continuous learning and

growth. The integration

of new people, ideas,

experiences and successes

with veteran employees is

often overlooked as important

to the ongoing growth of an

organization and its people.

Isthereariskassociatedwith

selecting talent from outside

the walls of your organization?

Culturally, technically, socially

…willtheyfitandaddvalue?

Maybe, but the benefits

offered by new talent—

competitive intelligence,

new ways of thinking, proven

approaches, the energy that

comes from proving oneself

when you’re new—usually far

outweigh the risks. As far as a

good cultural fit for new hires,

structure interviews to evaluate

their organizational beliefs

and values, such as quality,

innovation, or defining and

achieving goals.

Companies should create

a cultural questionnaire

to evaluate a candidate’s

organizational values.

Ifcompetitivetalentaligns

well with an organization’s

needs and corporate culture,

the results can impact the

company in profound ways.

Fresh insights and new ways

of thinking can provide

advantage in a constantly

changing marketplace.

03look outside: the Benefits of new talent



managing talent successfully is a balancing act. existing talent helps

maintain established processes and objectives, but the fluidity and

flexibility of new talent can offer great rewards, particularly when

business and workforce demands change rapidly.

Retaining and hiring top

talent is important, yet equally

as important is being sure

that your talent portfolio

is balanced. The pool of

available talent today is more

diverse than ever, and workers

have different benefits to offer

in terms of experience, skills,

education, and flexibility.

A strategically aligned and

balanced workforce fosters

innovation and creativity, as

well as maintaining historic

and relevant company muscle

memory—which directly

correlate to productivity and

profitability.

To accomplish this successfully

you need a holistic

approach, beginning with

the organization’s mission,

corporate strategy, and goals,

in order to develop a staffing

strategy that will result in an

appropriate mixture of talent.

04find the right mix: the talent Balancing act



you can pack your workforce with nothing but ‘a’ players and still

run into problems, if you haven’t balanced your labor pool to put

the right skill set in the right responsibilities at the right time.

Attracting and hiring a well-

balanced talent pool is the

foundation of successful

workforce planning, but

those efforts will be wasted

without developing solid

retention strategies. Most

retention efforts focus on

keeping people engaged

and committed, which largely

encourages “B” and “C”

performers to stick around.

Real thought should also be

given to assessing workforce

effectiveness and routinely

replacing low-performing

employees with high

performers. “A” players want

to be surrounded by other

”A” players, thus naturally

creating positive, healthy

competition which fosters

top performance. Happy

top talent attracts more top

talent, effectively replicating

a stronger, more productive

workforce.Whynotspend

more of your time supporting

and attracting “A” players

than trying to “fix” your “C”

players?

Retention efforts come in

all forms. Compensation

and benefits alone will not

suffice. One size does not

fit all when it comes to

employee engagement and

satisfaction. Simply put, figure

out what is important to your

most essential people, and

provide it.

05reward the Best: retaining top talent



gen y and gen x workers are focused on assuming responsibility and

developing skills that will make them marketable to multiple employers.

therefore, providing opportunities for training and development can help

encourage talented younger workers to stay with an organization.


conclusion Intoday’shighlycompetitiveglobalmarketplace,organizations must make effective workforce decisions. Shareholder value and corporate success directly correlate to attracting and retaining quality talent, so having the right professionals with the right responsibilities is critical. Companies have long believed people are their most important asset, but that’s only half of the story—the wrongpeoplecanbeasignificantliability.Ifcompaniesmake concerted efforts to design and strategically balance their workforces appropriately, they position themselves to deliver the optimal impact to business strategies and their collective success.


About the Author

Nick Schichtle is Vice President, Americas Product Group, Direct hire

Solutions of kelly Services. he holds a bachelor of Science degree in business

Administration from oregon State university in corvallis, oregon. Specialties:

infrastructure Mapping & Development; creation of Positive, competitive

cultures; Professional & leadership Development; Performance coaching &

Mentorship; team recruitment & Selection; Search training & Development.

About kelly

kelly Services, inc. (NASDAQ: kelyA, kelyb) is a leader in providing workforce solutions.

kelly® offers a comprehensive array of outsourcing and consulting services as well as world-class

staffing on a temporary, temporary-to-hire, and direct-hire basis. Serving clients around the globe,

kelly provides employment to 480,000 employees annually. revenue in 2010 was $5 billion.

exit

DowNloAD your free coPy toDAy.

This ebook is extracted from The Impact of Talent:

Strategic Insight on Retaining an Optimal Workforce.

http://www.kellyocg.com/Knowledge/White_Papers/The_Impact_of_Talent/

5 steps to survive the talent battle

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