HRO Today Global Spring 2014 - 17

Talent Acquisition
Competitive
Advantage
An on-site team of specialists guided the
alignment of Nationwide's contingent and
permanent workforce, resulting in reduced
costs and increased efficiency.
By Russ Banham
Following the crisis of 2008, many financial organisations confronted a dire
reality-a substantial dearth of specific skill sets to execute complex and
rapidly developing regulatory demands. A fluctuating market that percolated
the previous six years now boiled over, as HR departments ransacked the
globe for the needed proficiencies.
Recruiting this talent became a strategic imperative for many enterprises,
given the competition for skills in short supply and the growing global
demand. This was the case whether the human capital was deployed on a
fulltime or contingent basis. Few companies would disagree that having the
right people in the right jobs is the most vital business asset-by far.
Nationwide Building Society in Swindon, England, the world's largest
building society, the second-largest savings provider and a top-three
provider of mortgages in the U.K., would concur with this assessment.
Eighty per cent of Nationwide's workforce is permanent full-time staff. The
remainder is comprised of the high-level skill sets that many other financial
services organisations were competing for-IT project managers, software
developers, and engineers, not to mention temporary workers.
" We often need to bring in expertise for system upgrades, and we need these
skills on a flexible basis, " explains Robert Aldrich, Nationwide HR director.
" In the past, we'd be deluged by outside recruiters sending us resumes for
people who would come here for a week to a couple years. For example, if
we launched a big campaign involving attractive savings rates, we might need
to build a customer support staff for three months. "
WHY ENGAGEMENT
MATTERS
Engaged employees positively
affect corporate performance
outcomes, according to a recent
meta-analysis of 1.4 million
employees by Gallup, a global
research organisation and
consultancy. The firm's 2013
study indicates that engaged
employees result in the following
organisational benefits:
* 37 per cent lower
absenteeism
* 25 per cent lower
turnover (in high-turnover
organisations)
* 65 per cent lower
turnover (in low-turnover
organisations)
* 28 per cent less shrinkage
* 48 per cent fewer safety
incidents
* 41 per cent fewer patient
safety incidents
* 41 per cent fewer quality
incidents (defects)
* 10 per cent higher customer
metrics
* 21 per cent higher
productivity
* 22 per cent higher
profitability
SPRING 2014 | www.hroglobal.com
[17]
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HRO Today Global Spring 2014

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