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Jul
1 2008 | If the War for Talent is Over…Who won? Dr. John Sullivan recently wrote in his blog that the war for talent is over. Guess what? The candidates have won. Of course this is up for debate, but we as human capital professionals are all –now more than ever– cognizant that high performers are in high demand. So …what does this mean for hiring managers and HR execs? Are we ready to surrender to our candidates and do whatever it takes to retain, grow and attract our workforce?
No, of course not. We just need to be smarter, more strategic and more in tune with the best practices. Alice Snell, VP of research at Taleo, writes in her blog about what companies view as their HR challenges in 2008: • Keeping it in the company – 30% cite “employee retention”. So whereas a decade ago our major challenges focused on HRIS systems and processing H1’s, we now understand that strategic workforce planning is what it’s all about. Listen to this: Between 40 and 50% of costs in any business are spent on human capital– so making it a priority would seem sensible for all leaders.Yet a recent McKinsey study uncovered this astonishing reality: most companies are as unprepared for the challenges of finding, motivating and retaining capable workers as they were a decade ago. What can you do to ensure that your company is connecting the dots between it’s people and it’s bottom line? Talent management needs to be established not in an HR silo, but at the heart and core of overall business planning. Demographic change, globalization, and the rise of the knowledge worker will all affect this plan and its projected success. What is your company doing to ensure that talent planning is a priority? |
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