Turn Left to Win the Race for Talent
As the world starts to recover from the last few years of economic turmoil, a number of blogs and articles with supporting data are trending that staffing and recruitment activities are heading up while seeing green shoots of a sustained recovery. HR forums are talking about increasing headcount and managing attrition which has been all too quiet over the recent years.
Figures such as:-
26% employees will look to change employers this year
57% of firms looking to improve their headcount
62% of companies expect their big data marketing budgets to
CEO’s say the drive to hire is driven by:
Fast pace of change in business: 61%
Global competition: 51%
The nature of work today: 30%
The way companies are structured: 25% (baseline)
So we are all good then right?
Yes and No……
It is positive that companies are moving back towards a growth model, and that confidence in the employee market is up, however we still have some issues. Industry leaders and experts such as Deloitte, KPMG and our very own Brittney Craft, have pointed out the change is all positive news, except if you need STEM skills (science, technology, engineering, mathematics). STEM skills are most prevelent in financial services, consulting, technology and engineering driven companies. The shortage in STEM are baffling companies and salary bands are trending higher.
Unfortunately, what we commonly hear are excuses in solving this current and future problem. We commonly hear that because skill shortages are a foreseeable sustainable problem, all of the tools currently available and used are giving an the best result possible. The issue with this excuse is twofold.... One, executives really don’t care about excuses or explanations. What they care about is growth and eliminating barriors that prevent them from growing the business. And two, the problem hasn’t been solved.
When we work with clients and potential clients, we “get” their frustration, understand their rationale, and understand their difficult position. At the same time, we help them see how they can solve this issue for the short term and long term in order to solve the bigger issue, gaining more and better access to talent now and in the future.
Those companies who are being proactive, we say they are Turning Left.
What does Turning Left mean? It’s when an organization recognizes they have a problem, they put forth the effort to identify and vet possible solutions, then they move forward to test the solutions with the sole intent to ensure the solution works properly in order to fix the bigger/broader problems.
Turn Left companies beat their market competition by accessing talent faster, accessing more talent (up to 80% of the market), and driving speed and efficiency in their hiring process.
Having worked with numerous Fortune 1000 listed firms, Avancos has redefined how companies get ahead of the talent curve:
1) Talent Intelligence – Identify who and where the talent resides
2) Talent Pipelining – How to put talent in the queue for faster connecting
3) Talent Acquisition - How to effectively connect and convert talent
If you would like to learn more about what other companies are doing to Turn Left and attract pivotal talent skills, or simply want to know how you could improve your process without disrupting your current Talent program, then please get in touch.