HRO Today December 2019 - 56
Talent Acquisition
Barriers to Quality Hires
43%
36%
Competition
from other
employers
Lack of
needed work
experience
Source: SHRM, The Global Skills Shortage
" With such a competitive talent market, companies
should be looking inward and focusing on upskilling and
reskilling their current employees to fi ll gaps that might
be diffi cult or costly to source, " Hughes says. " You can
upskill a resource at approximately one-third of the cost
of hiring. It costs an average of $1,300 to upskill versus
$4,425 to hire. "
By reskilling their talent, companies not only save
money, but they ensure that they develop the skill
sets and behaviors that they need for the future in
employees who are already aligned to the organization's
culture.
Employers have begun to make efforts to develop their
workforce's skills but more progress is needed. To close
the skills gap, HR leaders need to analyze the needs
of their business and develop remedies, whether it's
offering new courses for high-potential employees,
fostering partnerships with educational institutions, or
designing rotational training programs for foreign-born
talent. An RPO provider can help determine the best
course of action and outline steps for implementation.
[56]
HRO TODAY MAGAZINE
| DECEMBER 2019
While RPO companies are not necessarily delivering
learning solutions, the consultative services and access
to data that they offer can help organizations identify
their skill gaps and develop strategies to fi ll them. Terri
Lewis, senior vice president and global head of HR at
Pontoon, says that the historical data, skills analyses,
market information, and demand planning that RPO
providers offer all combine into a comprehensive
overview of the business that can then be aligned with
organizational goals and forecasts to guide strategy.
Combining TA and L&D
Identifying high potentials and creating concrete
workforce planning strategies is critical to a successful
upskilling approach.
Organizations should " build out programs to identify
top-performing internal talent and put those people
on accelerated development tracks with additional
continued learning programs for upskilling, " advises
Chip Holmes, client portfolio leader at PeopleScout,
adding that TA leaders should also keep a close eye on
35%
Lack of
technical
skills
33%
Low number
of applicants
or lack of
interest in
the
organization
32%
Salaries and
benefi ts
are not
competitive
for the
market
30%
Lack of soft
skills
HRO Today December 2019
Table of Contents for the Digital Edition of HRO Today December 2019
HRO Today December 2019 - 1
HRO Today December 2019 - 2
HRO Today December 2019 - 3
HRO Today December 2019 - 4
HRO Today December 2019 - 5
HRO Today December 2019 - 6
HRO Today December 2019 - 7
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