Creating a Better Plan: Connecting Business Strategy, Structure and Talent
Research:With human capital accounting for nearly 70% of an organization’s average fixed costs, constant vigilance and planning is essential to optimize this investment. While most organizations do perform planning around strategic workforce needs, organizational structure and talent development, it’s often performed on an ad hoc or as-needed basis. Comprehensive planning in all three areas of focus—strategy, structure and talent—allows an organization to do so much more than have the right talent in place; a benefit itself that is worth the price of admission.
Strategic workforce planning is a well-documented process guiding organizations from business strategy through understanding the current state, to gap analysis, and action. Similarly, organizational planning, a system devoted to creating and adjusting the organizational structure to meet business goals, enables a new level of agility when conducted on a regular basis or within a strategic workforce planning initiative. Organizational planning enables a firm to adapt quickly to any change in business environment and condition. This flexibility can provide an outstanding competitive edge, especially when confronted with reorganizations, restructures, or mergers and acquisitions. The organization plan creates a powerful framework for talent planning and development.
The Business Impact of Talent Intelligence
Research:Talent Intelligence (TI) could be a key lever in today’s hyper-competitive world. As ‘business intelligence’ captures, extracts and analyzes key data on an organization’s traditional hard assets, ‘talent intelligence’ centers on key data on its people assets to generate insights that can drive improved decision-making and performance.
In conjunction with research partner and TI innovator Taleo Corporation (Taleo), the Human Capital Institute (HCI) launched a new study into the economics of TI to examine connections between financial performance and the use of talent intelligence.
The results reveal a heightened importance and greater access to workforce data among organizations that do satisfy leaders needs via proficient analysis of workforce data (Data Proficient Organizations — DPOs) versus those organizations whose business leaders are not satisfied with the workforce data provided to them (Data Deficient Organizations — DDOs).The research findings identify the distinct differences between talent intelligence practices of both types of organizations.
Talent Management 2011: Perceptions and Realities
Research:Nearly every company, regardless of size, practices some form of Talent Management. It may be a loose policy backed up by a few papers and forms or it may be a fully integrated strategy automated by commercial solutions. In either case, companies are striving to get the most out of their employees while retaining those employees who are most valuable to driving the success of the organization. When it comes to Talent Management, these companies are doing the best with what they have and many feel they are doing a good job. Some of these companies really are managing their talent well. But others are not and they are unwilling to admit where their practices fall short.
In a recent study by the ADP Research Institute, a specialized group within ADP that conducts studies on current topics of interest to HR and payroll professionals, HR decision-makers in 600 companies were asked to:
- judge themselves on how well they are doing Talent Management compared to their peers; and
- respond to a series of questions regarding the effectiveness of their Talent Management processes.
Driving Performance and Business Results with Collaborative Executive Development
Research:This report is the result of an original research study conducted by the Human Capital Institute in partnership with Vistage International Inc. Organizations continue to look for effective ways to make their organizations leaner and more productive, and recent research has suggested that a key ingredient in achieving this kind of success lies in the development of a collaborative and cohesive senior leadership team. In response, this research sought to determine the ways in which C-level executives are developed and understand more about the methods being used today. This research profiles the current state of Executive Development and the impact effective Executive Development has on an organization, including satisfaction with senior leaders.
More than 450 respondents that represent organizations from Fortune 500 companies to small and medium-sized enterprises participated in the 29-item survey. Supplementing that data are several interviews with subject matter experts, who supported the need for collaborative executive development in the C-suite and discussed its effect on business productivity and overall success.
Don't miss these key findings:
- Learn what top performing organizations are doing to ensure effective development in the C-suite and discover what benefits they have seen
- Read how and why industry leaders and subject matter experts have increased the breadth and depth of Executive Development
- Discover what types of executive development methods are most effective at building and sustaining a collaborative leadership model
Quality in Talent Selection: Finding the Perfect Fit
Research:Despite contract talent (CT) comprising between 5-25% of an organization’s workforce, few approach CT search and selection with the same rigor as permanent talent. As CT fills increasingly important roles and functions, it is imperative that employers hold CT up to standards comparable to that of their permanent employees.
Aerotek, a leader in the recruiting and staffing industry, and the Human Capital Institute (HCI) examined how pre- and post-hire assessments, rigor in candidate selection, and quality of post-hire evaluations differ between permanent staff and contract talent.
The research identified several differentiating aspects of “great” talent quality organizations: standard operating procedures that go beyond a basic checklist of pre-assessment activities, allocating the time and resources to fully define positions including the skills, experience and education required, and considering the culture of the department, and the fit of the potential employee.
A majority of employers demonstrate more rigor in selecting and measuring quality of permanent talent than CT. A much smaller minority have equally stringent selection, and these organizations realize the benefit of establishing pre- and post-hire procedures.
Video Interviewing: Close the Talent Gap & Win the War for Talent
Research:Today's talent pool is the largest ever. Unfortunately, the fact does nothing to alleviate the reality that there's a serious shortage of skilled talent. According to ManpowerGroup's 2011 Talent Shortage Survey, 52 percent of U.S. employers are increasingly challenged to fill mission-critical positions within their organizations. That is a dramatic increase from only 14 percent in 2010, and the highest U.S. percentage reported in the annual survey's six-year history.
This recruiting crisis has escalated competition for the skilled worker, who is all too often already employed and not actively seeking a new job. Reaching and engaging these passive candidates in traditional ways is obviously not working. However, recent advances in candidate sourcing and employee selection offer recruiters the ability to expand candidate reach and dramatically improve recruiting results. Savvy organizations are already winning the talent acquisition game by effectively deploying the latest innovative talent acquisition technology: video interviewing.
Acquiring Top Talent Through On-Demand Pipelines
Research:With the significant reduction in resources and staffing that were made during the recession, many organizations were not able to adopt, grow and maintain talent pipelines. With an improved hiring landscape particularly for high skilled positions, those companies with a robust talent pipeline strategy are poised to realize the benefit of utilizing this critical talent acquisition tool.
The Human Capital Institute (HCI) examines the talent pipeline practices of employers and offers insight into how the best continue to attract and select top talent.
The results of this research clearly indicate that organizations that have a talent pipeline and a talent pipeline plan are realizing significant advantages in regards to meeting the talent acquisition and deployment needs of their organizations.
Connecting the Dots: Comprehensive Career Development as a Catalyst for Employee Engagement
Research:This report is the result of an original research study conducted by the Human Capital Institute in partnership with Lee Hecht Harrison. As the economic tide continues to turn toward prosperity, firms are becoming aware that their top talent may start to look elsewhere for career growth and development, and they are recognizing the need to address this issue before it results in weaker talent pipelines and higher employee turnover rates. A key ingredient to employee satisfaction and performance is employee engagement and career development, but understanding exactly what these terms refer to, and how they are understood by employees and managers alike are areas less explored.
In response, this original research dove headfirst into these topics through a nationwide survey of more than 430 respondents that represent organizations from Fortune 500 companies to small and medium-sized enterprises. Supplementing that data are nearly a dozen interviews with subject matter experts, who uncovered even more information about what career development structures look like at their organizations and how such structures and programs influence employee engagement scores and overall performance. Don't miss these key findings:
- Learn what top performing organizations are doing to capitalize on the opportunity before them by leveraging different and diverse career trajectories
- Read how industry leaders and subject matter experts have successfully implemented employee engagement initiatives and career development plans
- Discover what career development opportunities employees are looking for and what they value most about them
What Influences Contract Talent Usage?
Research:As the economic recovery continues to take hold, The Human Capital Institute (HCI) is continuing its research in the Contract Talent (CT) field to further develop their scope of knowledge regarding this growing segment of the workforce.
CT Use and Management is explored in this latest HCI research study to evaluate whether there has been sustained post-recession CT utilization; has Management of CT changed in the past year; and what have been the benefits realized by organizations utilizing CT management systems and tools.
Results from this research study are compared to a HCI’s previous CT survey to identify whether CT use and management has changed appreciably. According to the prior study, "The use of CT continues to grow in 2010....In order for organizations to truly reap the benefits that CT can provide to their organization (e.g., access to expertise- heavy skills and flexibility of workforce), they must consider the management of CT much more strategically and as a talent management imperative for the new normal."
Is Your Talent Pipeline at Risk? Engaging High Potentials
Research:Organizations that effectively engage employees realize a significant advantage over competitors — including performance gains that lead directly to improved financial results. Without a strategic approach to talent that includes a focus on employee engagement, many companies fail to ensure employees are satisfied in their roles and committed to achieving key strategic goals — risking turnover of key players and the inability to meet overall business objectives. Adding to this challenge is the fact that many disengaged workers are actively seeking new opportunities as the economy grows, while competitors are looking for ways to gain an edge by actively pursuing your high performers.