Talent Management - December 2008 - (Page 50)

dashboard by Kevin Martin Talent Acquisition: Quality of Hire and Passive Candidates Reign Supreme New research from aberdeen group indicates organizations have different ways to approach talent acquisition, with varying degrees of success. The growing shortage of desired skills is compounded by an increasingly competitive global marketplace and an uncertain economy — all of which combine to force organizations to get more from the same, or less. It’s critical that organizations ﬁnd and lure best-ﬁt talent and increase workforce productivity and retention. While each of these has pre- and post-hire implications, they also can be impacted by an organization’s talent acquisition strategy. However, according to recent data from Aberdeen Group, the ability to identify and attract top talent continues to challenge most organizations. The Shortage and Misalignment of Skills Aberdeen Group’s July benchmark report, “Talent Acquisition Strategies: Employer Branding and Quality of Hire Take Center Stage,” revealed the two predominant factors driving talent acquisition at more than 80 percent of organizations surveyed revolves around the competition for skills, the limited supply of skills or both. The second-highest ranked internal talent acquisition challenge facing best-in-class organizations focuses on the organization’s ability to identify, recruit and validate better hires. In fact, 41 percent of best-in-class organizations cite quality of hire as an internal talent acquisition challenge, compared to only 23 percent that rank ability to reach ideal job candidates and time to ﬁll job vacancies as key internal challenges. Laggard organizations (bottom 30 percent) place relatively equal weight on quality of hire, reaching ideal candidates and ﬁlling vacancies in a timely fashion. Best-in-Class Talent Acquisition Strategies To overcome the aforementioned macro pressures and internal organizational challenges, best-in-class organizations look longer term and focus on enhancing their employer brands, engaging and attracting passive candidates and targeting those who are best ﬁt for their organizations and available job roles (Figure 2). In addition to these external pressures, organizations face Figure 1: Internal Challenges to Talent Acquisition internal struggles 56% when it comes to 46% effective talent ac42% 41% 38% quisition. Some 46 35% 34% 33% 32% 32% 31% 30% percent of all organi23% 23% 25% zations — including 56 percent of those that achieved Aberdeen’s best-in-class Quality of Time to fill designation (top 20 Future workforce Workforce Inability to job hires open job planning turnover reach or connect percent) — cited requisitions with ideal job workforce planning candidates as their top challenge (Figure 1). Best in class Laggard Source: Aberdeen Group, July 2008 Average 50 December 2008 talent management magazine www.talentmgt.com http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - December 2008

Talent Management - December 2008 Editor's Letter Contents Human Performance Leading Edge Foundations Recruitment & Retention Assessment & Evaluation Compensation & Benefits Performance Management Learning & Development Succession Planning Insight Dashboard Application Advertiser's Index Editorial Resources Full Potential

Talent Management - December 2008

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