Posts Tagged ‘talent market’
Monday, September 13th, 2010
From the time you receive authorization to fill a req through new-hire orientation, there’s a lot that can go wrong. The entire corporate recruiting supply chain is fraught with risk – there are so many reasons why a position can remain vacant for a long time, costing your company ROI every day. To preserve your company’s upside, you need to be able to identify these risks up front and take steps to mitigate them. If you succeed, you’ll accelerate the returns associated with every new employee.
Think about every step involved in filling an open req. There is sourcing, screening, interviewing, reference and background checking, negotiating and finally bringing the candidate in the door for the first day as a new employee of your company. You could run into problems at each of these points, from looking in the wrong talent pools to having a breakdown of communication that causes a person who has accepted an offer not to follow through and arrive the first day.
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Tags: candidates, market research, ROI, talent market, talent pool, talent pools, TMR
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Monday, August 30th, 2010
For corporate recruiters, the past two years have seemed like a problem of open reqs: specifically, there haven’t been many. The recession has dealt a blow to the profession and the businesses served, and the median duration of unemployment, according to Harvard Business Review, is six months (and counting), double what it’s been at any point in the last five decades. The problem, therefore, seems pretty obvious.
Or, is it?
Maybe it isn’t just a protracted period of unemployment and jobless recovery at work – maybe we’re also seeing a lower quality of demand.
Employers could be investing more in their talent, rather than taking advantage of an unfavorable employment market to secure employees at lower rates and save a few dollars. While this thinking may be attractive now, it can have disastrous consequences down the road.
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Tags: Corporate Recruiting, outsourced recruiting, outsourcing, recruiting outsourcing, ROI, talent, talent market, TMR, unemployment
Posted in Strategy | No Comments »
Wednesday, August 11th, 2010
There are high hopes for an economic recovery. The worst of the global financial debacle feels like it’s behind us, though there are many business leaders and experts suspect that this may not be the case. “Double-dip” recessions and expectations of more mortgage delinquencies – triggered by a combination of falling home values and constrained household incomes – could lead to more economic malaise. And doubtless, this prospect has an effect on your plans to recruit and hire.
So, the big question becomes one posed recently by Deloitte: “Where are you on the recovery curve?” There’s an essential tension between forecasted economic activity and near-term business needs, especially in the wake of a recession that forced difficult staff cuts leaving your company under-powered and your staff stretched thin.
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Tags: Corporate Recruiting, economy, financial crisis, market research, research, talent market, TMR
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Wednesday, August 4th, 2010
Despite intuitive beliefs to the contrary, recruiting in a high-unemployment environment is not easy. Though there is plenty of talent on the sidelines, much of it isn’t what you want to invite into your company. The dynamics of recruiting in a constrained job market can seem endless and overwhelming, especially when it’s time to educate your hiring managers. To help you kick-start the learning process with your partners in the business areas, here are three factors that can make corporate recruiting a bit tougher in today’s market.
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Tags: BYTE, Corporate Recruiting, hiring managers, HR outsourcing, HRO, job market, outsourcing, recruiting, talent market
Posted in Series Index | No Comments »
Wednesday, July 28th, 2010
Hiring managers need an education, and it’s your job to deliver it. The ebbs and flows of the talent market – along with the economy as a whole – don’t always have what you would consider to be a predictable impact on their expectations. In today’s market, in fact, hiring managers look to high rates of unemployment and a relatively small number of open reqs and draw, what for them, is the obvious conclusion: it’s pretty easy to hire right now.
Unless you’re in the corporate recruiting field, this is an understandable line of thought. There aren’t many positions, and there are a lot of people jockeying for them. This must mean that a company has its choice of candidates and that hiring managers can expect that those you bring in for interviews will be the best of the best.
If only it were that easy …
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Tags: candidates, hiring managers, job market, STREAM, talent market, unemployment
Posted in Intelligence | 1 Comment »
Monday, July 26th, 2010
From time to time, it’s a good idea to benchmark talent management and see how your organization is doing. Even if you’ve invested aggressively in performance improvement, you might not be keeping pace with the rest of the market. Simply doing better isn’t enough: you need to make sure you’re doing better than everyone else.
Benchmarking often gets set aside when the corporate agenda is full, a tendency that finds its way to the recruiting department. Instead of trying to gauge your competitive performance by feel, take the time for real insights of the sort available only from a rigorous process. There’s no substitute for truly knowing what’s happening in your market, and in an increasingly challenging marketplace, market research and competitive intelligence are more important than ever.
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Tags: benchmark, market research, talent management, talent market, TMR
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Wednesday, July 14th, 2010
Many corporate recruiters don’t look for learning opportunities When they do, the effort generally seems to be focused on improving tactics in the high-volume activities that already consume the time of an already maxed-out day … despite the fact that those don’t deliver optimal returns.
This is the main reason why our profession hasn’t evolved as much as it could have over the past 30 years. There is no shortage of opportunities to streamline recruiting operations, source more effectively, and increase candidate and new hire quality … but few of them are actually implemented. The focus of the corporate recruiter remains cradle-to-grave process management.
It’s time for a change.
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Tags: Corporate Recruiting, market research, talent market, TMR
Posted in Process | No Comments »
Monday, July 5th, 2010
Employees are becoming more comfortable with the idea of switching jobs. At the peak of the recession, workforce aversion to personal risk was high, especially as unemployment pierced the double-digit threshold. Now that conditions have calmed, and many believe a recovery is in progress, many employees are likely to seek greener pastures, especially if they can secure more income, flexibility or other perks in the process.
This presents both risk and opportunity. Talent availability is poised to spike, as top players look for ways to recoup missed promotions and raises that were rendered impossible by the after-effects of the financial crisis. At the same time, there’s increased likelihood that your own company’s talent will head for the door.
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Tags: candidates, financial crisis, HR, human resources, recession, STREAM, talent, talent market, talent pools, unemployment
Posted in Intelligence | No Comments »
Monday, June 14th, 2010
Increased competition, endless streams of resumes and applications and an economy that is intent on vacillating between bubble and bust has made the corporate recruiter’s career anything but predictable. Expect change to be constant and vexing … unless you have a taste for excitement and opportunity. Dislocated markets obliterate level playing fields, creating an opportunity for the savvy and aggressive to pull ahead of the pack.
We’re in one of those periods now. We’ve undergone several structural upheavals to the talent market and recruiting sector over the past 15 or so years, and nothing will ever be the same. To succeed, the corporate recruiting department needs to shift its thinking from tactical execution to strategic planning and positioning. The administrative and rote work needs to be sent out of the office, to an operation such as our BYTE service, while you retool your recruiting operation for maximum impact. To help you out, here’s a checklist for you to use in transforming your corporate recruiting department into a strategic powerhouse.
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Tags: bubble, BYTE, Corporate Recruiting, HR outsourcing, HRO, human resources, outsourced recruiting, outsourcing, recruiting outsourcing, talent market
Posted in Process | No Comments »
Monday, May 31st, 2010
Active job-seekers may be easiest to find, but it’s the passive candidate who can deliver the most value. Because they aren’t looking for something new, the competition for passive talent may not be as intense, so here you could score a real victory for your company’s war for talent. You have to work a little harder to reach your recruiting objective and find someone who isn’t actively seeking to be identified.
Operationally, recruiting in the passive job market comes with unique challenges. As corporate recruiting departments are tasked to run leaner, cut costs and reduce time to hire, the workload associated with searching for passive talent seems impossible. How do you justify to your executives that you should spend more time and resources to discover passive talent, when there are plenty of active candidates eager to be found?
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Tags: candidates, Corporate Recruiting, job market, STREAM, talent market, talent pools, time to hire
Posted in Strategy | No Comments »
