Business & Talent. Aligned.

How you manage talent spells the difference between success and failure. To gain a competitive edge, leaders must be prepared to address shifting economic, social and demographic trends that impact workforce performance. Stay informed with research, insights and advice from our leading industry experts. The world of work is changing. Is your company ready?

Tuesday, July 20, 2010

How Fit Are Your Next Employees?

The changing nature of work and the dwindling size of the traditional talent pool are converging – leaving companies searching in new ways to meet the demand for the skills required in today’s economy.

Employers need to redefine the parameters of their search for talent and focus on new priorities. Essentially, hire employees for their potential to fit within your culture and team and invest in developing the specific skills needed to perform on the job. Manpower calls this Teachable Fit – a new approach for easing the talent mismatch.

The premise works as follows: When employers can’t find candidates with the full range of skills needed for particular positions, they can recruit candidates, perhaps from outside their industries, who possess adjacent skills with an eye toward filling the gaps in their capabilities. It’s important to understand how fillable those gaps are – both in terms of technical skills and candidate mindsets – and at what cost. We know from Right Management research that as many as one-in-three employers are looking for a good motivational fit compared to only about one-in-ten who are looking for specific technical skills or relevant experience.

From a CEO perspective, it is important to assess where you are today and where you want to be – before you can even start to build the bridge between the talent strategy and the business strategy. Assessing talent enables you to evaluate your current workforce and forecast future needs; the resulting gap analysis provides a roadmap for sourcing, onboarding, developing and accelerating talent, and aligning performance with your business direction.

Today’s talent mismatch will continue to intensify. That means more competition for available qualified people, against a backdrop of what Talent Management reports as higher turnover and as many as one-in-four high-performers walking out the door. Employers need to think differently about how they fill the talent needs now and in the future. They must look beyond the usual places for candidates and consider those who are best positioned with their skills and personalities to benefit from training and development.

Check back tomorrow for the third in Owen's four-part series on Teachable Fit and how to expand your talent pool.

No comments:

Post a Comment