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Power up your talent management strategies. Here’s what you need to know about talent acquisition, talent development, talent search, talent management systems, talent performance assessments, and more.Talent management leaders face constant challenge and change. Regulatory complexities, an unpredictable economy, four generations in the workforce, and more. Are you and your HR team prepared? In Talent Management surveys, the business side of human resources emerges as the key to HR success, including the following challenges:
- The need for a picture of the workforce based on data: 54%
- The lack of HR integration and the resulting inefficiencies: 59%
- Concerns about keeping up with evolving compliance laws and regulations: 63%
- How to attract top millennial talent as boomers retire: 56%
How to Demonstrate the Value of Strategic Talent ManagementDo you think strategic talent management is critical in your business or industry? Does your senior leadership agree? Or rather, do they agree enough to invest in the talent management technologies and infrastructure that can connect people to business success? Are they missing opportunities because HR teams have not effectively communicated value? HR recognizes that talent management has a big impact on business results, but has struggled to convince skeptics. Obviously HR leaders need to look at how to communicate differently. Convincing skeptics of the value of talent management is challenging, but possible. It just takes the right tactics and a lot of persistence. These five principles for persuasion will build support with non-HR leaders for HR’s talent management agenda.
- Principle #1: What is convincing? Focus on what your audience cares about, not your agenda
- Principle #2: One reason is better than two. A single reason can be more powerful than a string of benefits
- Principle #3: Balance the story and the data. Change starts with a compelling story but then needs hard data as support.
- Principle #4: The meeting before the meeting is the meeting that matters. Win over key stakeholders in advance and then have a formal meeting to make it official.
- Principle #5: Seek evidence instead of arguments. Propose a reasonable hypothesis to test and measure results instead of presenting immediate arguments.
What are the Key Talent Management Challenges Today?Based on surveys of the talent management field conducted by independent research sponsored by SilkRoad, there are four foundational challenges that HR and Learning and Development professionals currently face:
- Implementing integrated human resource technology.
- Getting accurate data for a clear picture of the organization.
- Converting data-driven insights into strategy.
- Securing a business role on leadership teams so that HR and learning and development expertise is recognized and valued.
How Can HR be More Strategic?The business side of HR is top of mind among talent management professionals. They want to become more strategic. Being viewed as strategic were foremost among concerns. And as they told us, HR professionals continue to fight for a “place at the table,” a partnership role in business decision-making.
- Many HR Technologies Available, but Companies Continue to Lag.Despite myriad technologies to help HR professionals move to a more strategic role, survey findings showed that companies were behind: even with the big data movement.
- Hiring Up, Sourcing is Key. Regarding talent acquisition, a slight uptick in the economy with continued volatility puts greater pressure on professionals to fill gaps caused by the recession that began in 2007. Their greatest areas of focus: an attractive culture and new technology for sourcing.
- Compliance Reigns, Time to Complete Automation. Compliance remains the Achilles heel of companies. Without a doubt, compliance regulations are evolving rapidly, driven by technology (such as laws prohibiting genetic testing of employees), changes in hiring (I-9) and veterans benefits in 2014, and more stringent healthcare policies (the Affordable Care Act), for example.
- Performance Management, Not Just Appraisals Any More. Survey results showed that performance management remains a tactical and annual function, rather than a strategic, ongoing activity in which employees are regularly coached and evaluated.
- Off-the-Shelf Learning is This Year’s Black, Social on the Rise. In learning and development, off-the-shelf training courses will be this year’s most popular investment. Social technology use is also rapidly rising.
- Employee Engagement Takes Center Stage, Time to Get Formalized. Employee Engagement was square on the radar screen of professionals. They perceive employee engagement as a lever for competitive advantage—to boost company productivity and to recruit and retain top talent.
How to Prepare for MillennialsBy 2015, Millennials will outnumber other generations in the workforce. Your talent management strategy, from recruiting to training, needs to be ready for this shift. As Millennials take on their first management roles, they’ll challenge traditions and manage in new ways. Millennials communicate differently, tearing down the corporate ladder, and bringing a fresh approach to work. It's imperative that they know how to navigate the organization and bridge the gap between management styles of senior executives and the more collaborative approach of their peers. Learn more about engaging Millennials in your workplace.
Succession Planning Tips: New Leaders Sink or SwimOrganizations haven’t adequately prepared young professionals to be managers, and it shows. Of current millennials who are leaders, only 36 percent said they felt ready when entering the role, and 30 percent still do not feel ready today – citing managing difficult people or situations, lack of experience, and dealing with conflicts as their top concerns upon entering a leadership role. Informed leaders agreed that millennials lack self-awareness and the ability to effectively manage others.
Talent Development Focus is CriticalThis lack of preparedness echoes what has been reported in prior research. A recent survey by the American Society for Training and Development reported that two-fifths of millennials don’t think their cohort is entering the workforce with sufficient skills to become future leaders, and Harvard Business Review claimed that the average age to receive leadership training is 42, or a decade away for the average millennial leader. Over half of ASTD’s respondents felt that millennials require specialized leadership development programs, but only 15 percent said their organizations offer such programs – though the business case for them is clear. For instance, higher-performing organizations are 57 percent more likely than those from low-performing organizations to have a millennial leadership development program in place.
How to Keep Young Professionals EngagedWhile organizations struggle with how to develop their young professionals, millennials are looking elsewhere. Our survey showed that 70 percent want to launch their own companies, with the greatest number of budding entrepreneurs in Brazil, China, India and Mexico. More alarming, less than 20 percent of global millennials aspire to senior leadership in a large organization with 10,000 or more employees, and presently no one in these companies is convincing them that it’s in their best interest to come aboard and stay aboard. All this indicates that the time to start thinking “change” is now. Auditing your talent in a process-focused way, can be a good start to understanding the key skills your top talent possesses to bring out their best.
How to Assess Your Talent Management ProgramTo be a truly effective HR organization, the HR function must grow and change with a company. So much like an organizational growth curve, HR must evolve to keep up. Based on The Bersin & Associates HR Maturity Model®, SilkRoad’s HR Talent Management Assessment places respondents into four categories, or stages, to help HR professionals see where their organizations are and provide a starting point from which to plan steps to reach the next level. To identify your organization’s stage, measure where you on the HR Evolution scale with an HR Assessment.
In future years, the employee experience will emerge as a critical HR focus due to its potential to impact business results. Experiences need to move beyond engagement and focus on “activating employees” to outcomes such as greater productivity, agility, competitive advantage and the like.
What will HR look like in 2025? Four HR industry experts recently shared their thoughts on the future in an engaging and high-energy panel discussion.
Frequent feedback in the workplace is being demanded by employees. Recent research by Tiny Pulse, found that 64% of employees surveyed said they wanted their supervisor to check in with them at least every two weeks, with 42% of millennials wanting feedback every week. This white paper lays out a plan to create a culture […]
Performance management processes are in a state of flux. The traditional systems we’ve grown accustomed to are being updated and enhanced to reflect today’s workplaces and employees. These shifts in performance management are not the result of a spur of the moment decision or a trend du jour. They are in reaction to years of ineffective performance management cycles.
Are your employees contributing to organizational success? The Ultimate Guide to Performance provides the information needed to improve how companies manage and track employee performance, to ensure employees are aligned with the proper goals and objectives to increase business performance.
It’s time to move beyond traditional performance management. Leading HR experts recommend getting started on a fresh look at performance management, emphasizing real-time, agile and a focus on results. Learn how agile performance works, typical cost and productivity savings, best practices, and more.
We asked HR professionals to share with us the pains and challenges they face each day in effectively managing and engaging their talent.
Learn key findings from the 2016 CLO Innovations in Onboarding Survey, onboarding best practices and success stories.
Learn why traditional reviews still reign as most popular but performance management change is on the way. An eBook, Seeking Agility in Performance Management, reports on the survey results from over 200 HR leaders in this important area.
Get recruiting right with the Source of Hire Report. The Source of Hire report is back and more comprehensive than ever, covering more than 13 million applications, 600,000 interviews, and almost 300,000 hires. The job market is back. And so is increased competition for top candidates.
Learn formulas to calculate how much you could save by using an applicant tracking system or a recruiting technology solution to manage your talent acquisition processes. Includes strategic guidance, practical tips, and recruiting metric formulas to lead ROI discussions.
Productivity gains come from effective performance management. This requires a system that gives HR, managers, and employees a clear line of sight into goal setting, the review process and more. Learn some of the key areas where you can increase productivity, reduce turnover, and decrease costs.
Radical changes in HR, from agile performance to analytics, will make 2016 a defining year in the HR world. Job seekers are gaining more power than recruiters and technology is becoming an ever present asset.
First impressions matter—a career portal can make or break a hiring strategy. Learn the 5 key elements to attract the best candidates with a career portal that works.
The potential employee experience is key to the success of any company. Learn the 5 key elements to welcome them with an onboarding portal that works.
HR in the C-Suite: How to Take—and Keep—Your Place at the Table discusses the emerging role of the chief human resources officer (CHRO). After decades of being relegated to a tactical function, HR is growing in power and prestige. Why now? The recent recession is the major reason. As budgets tightened, CEOs required HR’s counsel to manage a shrinking workforce and keep staffing reductions from impacting operations too much.
In these buyers’ journeys, you’ll discover the paths of different companies who implemented SilkRoad Life Suite, an integrated talent management platform. In addition to experiencing the results of integrated talent management, the HR leaders who led these initiatives proudly discuss their success as a badge of honor with gratifying personal rewards. You’ll also find a wealth of resources to help you identify the best solution, define the return-on-investment (ROI) and present it to your management team.
When vendors enter alliances from positions of strength, everyone benefits – including the user. SilkRoad has recently displayed this by forging a number of partnerships yielding capabilities complementary to their own. The latest example is their decision to join forces with SmartRecruiters, a vendor of progressive solutions for talent acquisition.
SilkRoad’s latest survey asked 329 HR Professionals what were the top concerns they had in their organizations HR department. Below are the top concerns in 2015 that’s keeping HR Up At Night.
Action and new ideas that can strengthen HR’s contributions to business success and clarify those contributions to others.
Ranking just behind leadership, engagement is now the #2 issue on the minds of HR leaders today.
There are several reasons why HR is having trouble leveraging talent analytics’ full potential. The first takes us back to the name of our function – human resources. HR is about working with people, and as such, many practitioners are reluctant to give up the emphasis they place on instincts or gut feelings.
HR professionals may be willing to dip a toe in, implementing basic analytics functions as part of recruiting, applicant tracking, training, and compliance systems. However, data is typically siloed and often provides conflicting information, and the technology that collects it is unwieldy and inflexible. And, even good data is subject to the fact that, per Deloitte, more than 80 percent of HR practitioners score themselves low in their ability to analyze it.
The employer brand determines the quality of the workforce. It drives the level of engagement, motivation and retention, which is strongly linked to higher revenues, profit margins and overall returns on investment. Companies capable of attracting the best talent simply perform better!
Many companies can’t hold on to their Millennial employees.
SilkRoad conducted a survey to find out what HR Professionals thought about Millennials and what programs their organizations had in place for them. One of the most consistent issues HR professionals had was retaining their Millennial employees after they trained them and they developed their skills.
Learning Management Systems (LMS) allow companies to focus on the right component of the learning process – and that is the learning. Administrative activities like registering for training or recording training completion are automated. Required compliance programs can be delivered online, reducing costs. Managers can share training feedback that supports the company’s business goals.