HRO Today July/August 2014 - 52

Market Insight
study shows that the percentage of employee headcount
for new external hires has grown in the last three years,
increasing by nearly 39.8 percent, from 2010 to 2013.
Also, first year of service turnover has increased for the
second consecutive year, from 22.6 percent in 2012 to 24.1
percent in 2013.
So, while hiring quantity has increased, hire quality has
dropped. Given these trends, it's reasonable to consider
that organizations may relapse to pre-recession talent
acquisition approaches, which led U.S. organizations to
lose nearly one in three employees within the first year of
service.
This begs these questions:
* How do you strengthen your hiring process in the next
two to three years in a post-recessionary environment?
* Can we identify those markers of talent acquisition
success based on who historically succeeded and those
who did not?
* Can we then devise a process to systematically prioritize
those characteristics while evaluating job candidates?
We see leading organizations using predictive analytics
in their candidate selection process, using advanced
analytics to isolate characteristics of success, then using
those markers to create strong hiring profiles, and,
finally, tailoring assessment surveys that evaluate every
potential job candidate for those characteristics. These
are typically a combination of attitudinal, demographic,
and experiential factors. It's important to note that even
if these assessment instruments have common factors
across employee roles, success factors are tied to specific
roles.
By gaining a better understanding of the characteristics
of successful employees HR departments can recognize
which candidates possess the traits and talent that truly
aligns with the organization's culture and needs.
4. Enhancing the strategic role of HR business partners
through the use of standardized strategic reports. As
the economy continues to revive and the emphasis on
talent returns, organizations continue to evolve the HR
function amid a growing recognition that HR needs to
be more strategic. As this shift continues, overall HR
spend continues to grow from $1,923 per employee in
2012 to $1,995 per employee in 2013. Companies are
demonstrating that an improved return on workforce
[52]
HRO TODAY MAGAZINE
| JULY/AUGUST 2014
Our study shows that the
percentage of employee headcount
for new external hires has grown
in the last three years, increasing
by nearly 39.8 percent, from 2010
to 2013. Also, first year of service
turnover has increased for the
second consecutive year, from 22.6
percent in 2012 to 24.1 percent in
2013. So, while hiring quantity has
increased, hire quality has dropped.
investment requires an increased investment in HR.
As part of this transformation, the business partner
needs to be transitioned from transactional activities to
talent strategy, succession planning, workforce analytics,
and the like. As HR business partners become more
quantitatively savvy and business leaders demand more
frequent and robust HR data, strategic workforce reports
are becoming more of an imperative.
Organizations are best served by forming a set of
strategic report templates, which can be centered on
a variety of workforce themes, including headcount,
recruiting, diversity, and performance. Reports can have
a balanced view of raw data (employee counts and costs),
calculated metrics (turnover rates), internal and external
benchmarks, targets, historical trends, and future
projections for quick views of improvements and declines,
and warning areas that require immediate action.
While business partners and analysts may need to build
skills to properly create and leverage these reports,
organizations maturing in analytics are investing in these

HRO Today July/August 2014

Table of Contents for the Digital Edition of HRO Today July/August 2014

HRO Today July/August 2014 - 1
HRO Today July/August 2014 - 2
HRO Today July/August 2014 - 3
HRO Today July/August 2014 - 4
HRO Today July/August 2014 - 5
HRO Today July/August 2014 - 6
HRO Today July/August 2014 - 7
HRO Today July/August 2014 - 8
HRO Today July/August 2014 - 9
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HRO Today July/August 2014 - 11
HRO Today July/August 2014 - 12
HRO Today July/August 2014 - 13
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HRO Today July/August 2014 - 18
HRO Today July/August 2014 - 19
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HRO Today July/August 2014 - 21
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