Talent Management - December 2008 - (Page 51)

Best-in-class organizations distinguish themselves in talent acquisition through a mix of processes and technologies that force organizational collaboration, engage existing workers and target their collective efforts on what matters most to the organization. These work collectively to enable bestin-class organizations to achieve extraordinary average year-overyear performance gains against the key performance indicators highlighted in Figure 3. Key Differentiator: Recruiting Passive Candidates Aberdeen’s research shows talent acquisition in 2009 will be as much internal as it is external to the organization. But both must focus on heightening the organization’s employer brand. Figure 2: Best-in-Class Strategies for Talent Acquisition Enhancing company brand and reputation in recruiting market Proactively searching for and communicating with potential candidates Marketing through new means (e.g. social networking sites) to reach passive candidates Emphasizing strategic workforce planning to accomplish longterm company objectives Improving candidate pre-screening Source: Aberdeen Group, July 2008 35% 32% 30% 29% 26% Figure 3: Average Year-over-year Improvement Among the Best in Class Quality of hire 32% Hiring manager satisfaction 31% 21% 11% 5% -7% 5% -3% -8% -22% Best in class Average Laggard Source: Aberdeen Group, July 2008 Time to hire New-hire retention Internal strategies will focus on identifying and developing high-potential workers to ﬁll anticipated higher-level vacancies. Best-in-class organizations place greater emphasis on career development, leadership training and ﬂexible work environments to be more attractive to potential hires and more caring of existing staff. Some 68 percent of best-in-class organizations cite promoting career development and professional growth opportunities in recruiting campaigns as a top priority. 3% -8% Progress against development plans for individuals designated high potential will be measured against the organization’s needs to determine if, or when, the position must be ﬁlled externally. External strategies will focus on ﬁnding and engaging talented professionals who are not actively seeking new employment. Passive job seekers are not easy to locate, but they represent an important part of a successful talent acquisition strategy. Aberdeen’s research found 62 percent of best-in-class organizations are focused on creating or improving a data repository of desirable active and passive job candidates — versus only 46 percent and 35 percent of industry average (middle 50 percent) and laggard companies, respectively. Whether internally or externally focused, an organization’s talent acquisition strategy must create or validate candidates’ and employees’ perceptions of the organization as a great place to work. Fifty-three percent of best-in-class organizations focus on having corporate marketing and recruiting work together to improve employment branding. An additional 30 percent of best-in-class plan to have this collaboration in place during the next year. The importance of an internal talent acquisition strategy focused on making existing employees feel positive about the organization is highlighted by the following statistics: • Employee referrals are cited by all organizations — and 82 percent of best in class — as the top source to ﬁnd desirable talent. • Some 74 percent of best-in-class organizations rank employee contacts and networks in their top three ways to recruit passive candidates, followed by attending conferences, industry events or tradeshows (60 percent) and visiting social networking sites (30 percent). Best-in-class organizations are more aggressive at communicating job openings and job-role needs to current staff, and 79 percent are more likely to use December 2008 talent management magazine www.talentmgt.com 51 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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