Talent Intelligence… the silver bullet
According to the recent “Talent 2020” report from Deloitte Consulting LLP, about 80% of employees plan to stay with their companies for the next year, compared with only 35% who said that last year. "Instead of addressing broad concerns over high turnover rates, employers now face a more targeted challenge, " says Bill Pelster, principal and U.S. talent services co-leader at Deloitte, since "companies must adjust their talent management initiatives to focus on retaining employees with the critical skills required to advance their business in today's turbulent marketplace, as [these employees] pose the biggest flight risk." The flip side of this is that it is going to be harder to hire the right people you need, who have the critical skills your company must have. Critical skills are those that are required for pivotal roles, which drive our businesses; namely, they are high margin, customer-pleasing roles. They add value unlike any other roles. If employees are the business’s blood, then pivotal roles are the oxygen.
This represents a paradigm shift for HR though. The three focuses are now tending toward 1) employment branding, 2) employee satisfaction, and 3) talent acquisition. These are the driving trends for HR today. Talent management has come a long way, and HR as a whole has done a tremendous job of listening to employees and bridging the gap between management needs and employee needs. However, with today’s businesses needing to fill pivotal roles to stay competitive, it has been difficult for HR to fill this suddenly critical need. While marketing owns employment branding, talent acquisition is met with an ad hoc approach. New tools, old tools, contingent recruiters, RPO, managed services, and VMS can solve some needs, but again, the approach has been ad hoc at best. What if HR had a silver bullet, though – a service that allowed them to see, in real-time, exactly what the talent market looked like, where those critical skills were, what drives them, and what would cause those candidates to look at a new opportunity? What if that service was fast as well?
Avancos built Advanced Insight Talent Intelligence to solve these problems, and companies utilize Talent Intelligence to achieve the following three things:
- Companies who buy from us need greater access to talent for pivotal roles, and they are usually constrained by limited bandwidth and budget.
- Companies who work with us access 3X more talent, reach critical mass 2X faster, and cut external vendor costs by 2/3 on average
- Companies who work with us strengthen their internal bandwidth and have 4X greater insight into their talent market.
By identifying a company’s pivotal roles, and breaking them down to basic qualifications, Advanced Insight Talent Intelligence can identify 90% of the people who meet these basic qualifications in a given market within a short period of time, and that is just the first phase. Companies then need this information to tell them different things – some will seek the information for strategic reasons, while others will need it for tactical purposes. For instance, a VP of Sales may want to know where potential workers can be found who not only meet the basic qualifications, but who can also open new markets and sources of revenue for them. Conversely, an HR Recruiter may look at this first phase and see an overwhelming list of names and titles and wonder what this means to them. They just want to fill a position quickly.
Sales all of the information s/he needs. On the other hand, the HR Recruiter can get what s/he needs through a “short list” of potential
candidates as refined output. Thus, whether it is a data driven narrative outlining your market’s competitors and their information or it is a short list of candidates, Avancos Advanced Insight Talent Intelligence solves the problem and is the perfect real-time, data-driven tool for today's Talent Acquisition climate.
With Monster, Dice, your own vendor program for approved contingent recruiters, and all the other tools you have used up until now, you are probably wondering how our Talent Intelligence can possibly be any different. At Avancos, we see everything as being divided into Technology, Process, and People.
- For technology, we use 87 disparate intelligence gathering sources;
- For process, we run the data through an 11-point proprietary process to capture it quickly and completely; and
- For people, we are all trained on advanced data analysis methodologies that extract exactly what you need in volume, variety, and velocity.
Avancos’ CRM Team works through your needs, both tactical and strategic, teasing out the exact outcome you are looking for. The Avancos Global Delivery Team has already begun pulling relevant data prior to the launch meeting with the client. By delivering pertinent, timely data, this allows the hard-to-fill, pivotal roles to be filled strategically and quickly. By integrating with your company’s employment branding initiatives, a seamless process ensues. Avancos delivers all of this data in a digestible format to the client allowing them to integrate that data into future initiatives. Most of our clients have been so pleased with our Advanced Insight Talent Intelligence that they have purchased this product monthly and have integrated Avancos into their planning and strategy on a yearly basis.
See our recent whitepaper for more information about the market and call one of our sales people to request more information. Ask yourself if you can pass up a solution like this. Try a pilot program today, and then tell us whether it is a silver bullet or not.