Posts Tagged ‘risk management’
Monday, January 3rd, 2011
We all know that there are some questions you just shouldn’t ask in an interview (see five gems here). Anything related to age, religion and physical disability, for example, is strictly off limits. But, conversations happen. You get into a comfortable exchange with a candidate and notice a necklace with a religious symbol … which leads to ask if he or she attends a local church. Or, a conversation about a photo of your kids on your desk results in a discussion that could land your company in hot water.
The issue is one of litigation risk, and it’s a top concern for corporate recruiters all over the country. The wrong questions could cause a candidate to sue, costing your company both money and its reputation with clients (and future candidates). Even the best corporate recruiters slip up sometimes, often because they are so good at reading a candidate and managing the conversation effectively. Especially in the early stages of the corporate recruiting process, you need a way to protect your recruiters and your company. Structured interviews can be a particularly effective litigation risk mitigation tool.
(more…)
Tags: BYTE, candidates, interviewing, risk, risk management
Posted in Process | No Comments »
Wednesday, October 20th, 2010
For the past two years, manufacturing suppliers have looked for ways to cut costs – just like nearly every other business. In the wake of the financial crisis, the importance of operating lean was driven home, and every opportunity to minimize expenses was examined. This sort of financial discipline may have seemed to make sense at the time, but the consequences are now becoming clear. Under-staff your company, and you could be exposed to significant risk.
According to a recent support by the Institute for Supply Management – Chicago, “Suppliers have cut staff so much that there is no support team when a failure occurs, the response is slow, laborious and inadequate.”
(more…)
Tags: BYTE, financial crisis, risk, risk management
Posted in News | No Comments »
Monday, August 23rd, 2010
After a severe financial crisis and signs that the economy has turned the corner, we’re all eager for a recovery, however cautious, to get under way. But, what happens if that isn’t the case? There are signs that some risks could flare up again, which would require a fast change from any plans you currently have in the works. Since traditional corporate recruiting tends to have a fairly long lead time, this could leave you in a tough position.
I ran into a story on FINSwire that claims some investment banks may be instituting pay cuts and layoffs in the coming months, with up to 20 percent of them being cut. This is not a trivial amount. And as we all know, action in the financial services industry has a way of affecting everyone else.
(more…)
Tags: economy, financial crisis, financial services, financial services industry, risk, risk management, STREAM
Posted in Strategy | No Comments »
Tuesday, April 27th, 2010
Mergers and acquisitions are inherently disruptive. Two companies come together, and the profound feeling of uncertainty that the transaction brings can affect employee interest and performance. While most people think that M&A translates to layoffs, there is often a corporate recruiting implication as the dust begins to settle.
There may be gaps in the new organization, left by the departure of key employees, changes in strategy and the realignment of business units.
While the merged organizations sort out the winners and losers, employees in both camps sit in limbo wondering what is going to happen to them. Of course “key employees” – certainly executives – have some hint of the role they will play. But, as in life, there are no guarantees. And final decisions further into the ranks can take months.
(more…)
Tags: acquisitions, Corporate Recruiting, HRO, integration, layoff, layoffs, M&A, mergers, outsourcing, post-merger integration, risk, risk management, STREAM, talent management
Posted in Process | No Comments »
Wednesday, March 31st, 2010
Recruiting for key positions can be tough enough, especially when competition is fierce, even when you know what’s coming. Add the element of surprise to the mix, and the time and effort you need to fill an open req increase exponentially. Unexpected vacancies are a part of professional life, especially for important positions (particularly those in the C-suite) where the top talent may be well known and highly coveted. If your superstar is poached, you may have to do the same to another competitor – or find the next household name while he is still undiscovered.
Historically, this sort of succession planning has been reserved for a company’s top executives. With KGTiger’s STREAM service, though, you can extend that readiness to key people across your company.
Here are five ways to have a solution to unplanned vacancies that’s always ready:
(more…)
Tags: open positions, risk, risk management, STREAM, succession planning, vacancies
Posted in Intelligence | 2 Comments »
Tuesday, March 23rd, 2010
It’s still a bit early to tell, but it looks like the economy is finding its legs. As this trend continues, businesses will become more comfortable making larger strategic investments. The game-changing initiatives that get the green light are likely to have talent implications, and corporate recruiters should be ready for a new kind of action.
The momentum that comes with a turn in the economy can have a slingshot effect for companies that plan well. Making the right decisions now – and executing them effectively – can magnify ROI down the road. Every aspect of strategy execution has this potential, including corporate recruiting. But, before you rush out to assemble talent pools, you’ll want to get a feel for the new talent markets you are about to enter. Whether it’s for a product line or region, you should know the challenges and opportunities that await you.
KGTiger’s TMR service provides one thing: answers. As you’re preparing to recruit into the unknown, the risks begin to become apparent quickly, and the most daunting is the belief that there are “unknown unknowns” waiting to trip up your imminent strategic hiring program. Detailed talent market research reports from TMR can take much of the guesswork out of your riskiest, highest-potential and most important business initiatives. With TMR you can drive business decisions based on what you know – instead of what you think!
(more…)
Tags: Corporate Recruiting, economy, HR, HR outsourcing, HRO, human resources, market entry, market research, new market entry, outsourced recruiting, outsourcing, product launch, recruiting outsourcing, research, risk management, ROI, talent, talent acquisition, talent market, talent pools, TMR
Posted in News, Strategy | No Comments »
Thursday, March 18th, 2010
No major strategic initiative gets the green light without the CFO’s approval. In addition to requiring a significant resource commitment, these efforts may call for the raising of capital, which entails an extra layer of finance department involvement. So, if launching a product line, entering a new market or making an acquisition is on your company’s agenda this year, you should be ready to communicate the talent management implications of the plan to your CFO.
In any sort of high-profile strategic initiative, a risk management argument should carry a lot of weight. After all, this involves the protection of a significant investment and the future return it’s expected to generate. Being able to optimize strategy execution will only bolster your case.
(more…)
Tags: CFO, consulting, executives, HRO, market research, outsourcing, recruiting, risk, risk management, talent, talent management, talent market, Talking Talent, TMR
Posted in Strategy | 1 Comment »
Thursday, January 14th, 2010
We’ve discussed the difficulties that corporate recruiters – and businesses in general – face when entering new markets. In addition to coping with the unknown from a product, sales and marketing perspective, you need to figure out quickly whether there is sufficient local talent to support your company’s business objectives. A great product, sound marketing plan and sufficient demand are meaningless if you don’t have people on the ground to pull it all together.
Here are five ways to take the guesswork out of new market entry recruiting, reducing risk and maximizing your company’s investment in local talent.
(more…)
Tags: BYTE, Corporate Recruiting, market entry, market research, new market entry, risk management, STREAM, TMR
Posted in Strategy | 1 Comment »
Recessions tend to increase the number of resumes submitted per open req, and today’s