Talent management retention hunting 1.pptx

Talent management retention hunting best resource strategies

1. Talent Management 2016 8 TRENDING CHALLENGES AND OPPORTUNITIES

2. “Life sets us challenges 5 Challenging Trends to test our courage and willingness to change. ” —Paulo Coelho, Brazilian Author 2016 certainly promises to be a year of challenges. Armed with the right information and analytics, forward-thinking talent managers are discovering opportunities to do more with less in 2016 . 3 Practical Opportunities 2

3. Human Resources Must Do More with Less In 2014, U.S. HR departments budgeted $4.01 per employee per day. Last year, that number fell to $3.76 . 2016 looks equally grim. 1 HR funding is not keeping pace with employment growth. Thin budgets will challenge creativity and resourcefulness as HR leaders work to engage employees, uncover and develop talent, and juggle $4.01 administrative responsibilities. CONFRONTING THE CHALLENGE Making the most of existing resources will be the key to success in 2016. Many HR teams are turning to their data to help them discover efficient avenues for improvement. A talent analytics platform is one helpful tool for connecting the right team members to your existing training material. 3

4. Data-Blind Organizations Left Guessing Unfortunately, many HR teams lack the tools and insight needed to outperform this year ’s limited budgets. While most organizations gather information on their employees, only 14% of organizations have the ability to analyze people problems, determine the causes, and develop predictive models. 2 The result? Surveys reveal that 16 out of 20 companies rely on “gut feel,” not data, to make talent management decisions. 3 CONFRONTING THE CHALLENGE “Companies desperately need data to figure out what makes people join, what makes people stay, who is likely to be most successful, and what we can do to build more leadership, customer service, and innovation in the team. ” —Josh Bersin, Principal and Founder, Bersin by Deloitte 4

5. Employee Engagement Remains Stagnant As researchers have demonstrated the bottom-line significance of employee engagement, more and more companies have undergone programs designed to measure and improve team buy-in. Unfortunately, most companies aren ’t seeing the desired results. Employee engagement in the US has improved only 2% since 2013. 4 CONFRONTING THE CHALLENGE To move forward in this area, businesses must realize that many “engagement tools” simply measure employee attitudes, and are not designed to increase dedication and shared vision. The companies that manage to raise the engagement bar are those that find ways to demonstrate that they care about their people and their development. 5

6. Looming Leadership Needs With Baby Boomers exiting their careers to enjoy the fruits of retirement, a gap is growing near the top of organizations. In fact, statistics show that 10,000 Americans are retiring every day 5 —many from leadership and management positions. Organizations looking to do more with less in 2016 cannot afford to overlook internal leadership potential. Unfortunately, many companies lack systems for uncovering hidden talent at an early stage. Instead, most promote team members based only on technical skill (which does not always indicate an ability to lead) or pay a premium to hire outside leadership. CONFRONTING THE CHALLENGE HR teams will need to identify, engage, and train the right talent for the job. A key initial step is to clarify the attributes that exemplify potential leaders. Learn more about identifying internal leadership potential VIEW FULL INFOGRAPHIC 6

7. Broadening Skills Gap Filling leadership positions is only part of the challenge. Technology is changing rapidly, and with it, the skills needed to be successful. Today ’s business environment requires proficiencies only dreamed about a decade ago—at just about every level within an organization. In fact, researchers say that “60% of all new 20 % jobs in the 21st century will require skills that only 20% of the workforce possesses. ” 6 CONFRONTING THE CHALLENGE Talent managers who succeed in bridging the skills gap will be those who connect the dots. Employees who need and want to develop their career skills must be given access to training and the opportunity to apply what they ’ve learned. Learn more about connecting the dots in L&D VIEW FULL INFOGRAPHIC 7

8. 2016 promises many challenges. Organizations that overcome them will be well positioned to benefit from this year ’s practical opportunities. Read on to discover the trends that will provide the greatest advantages for Human Resources in 2016.

9. Young Talent Eager to Lead Though they will require development, talented young employees are eager for more responsibility. 91% of surveyed millennials responded that they aspire to lead , and many are eager to experience more leadership development opportunities. 7 91% aspire to lead 9

10. Data Makes a Difference In light of 2016 ’s complex and competitive talent management environment, it’s no surprise that organizations with robust analytic capabilities are surging ahead. Fueled by improved decision making capabilities, data-driven organizations achieve 6% higher productivity and are 5% more profitable . 8 1

11. Technology Empowers HR Analysis Faced with tight budgets and a need for accurate insight, HR teams are turning to talent analytics for answers. 80% of HR professionals believe that data analytics skills are becoming more important. v 80 % These teams realize that good data allows them to: Support better, more predictive hiring Identify the hidden talent within their company Connect team members to the right training tools Improve employee engagement Reduce turnover by as much as 50% 11

12. can help Talent Management in 2016 takes more than numbers and statistics —you need actionable insight. That’s what the right talent analytics platform will deliver. YouLab is built for today ’s talent, delivering real value through an intuitive interface that catalyzes interaction through immediate, practical feedback. The customized career development insight available through YouLab gives your team a reason to engage, in turn giving you the knowledge you need to leverage the power of your people. Get the insight you need to find the hidden talent in your organization, direct the development of your team ’s capabilities, and deploy your people effectively. Visit us at www.youlabonline.com or SCHEDULE A FREE DEMO 12

13. Sources: 1 Calculated from Bloomberg BNA, HR Department Benchmarks and Analysis 2015-2016 http://www.bna.com/uploadedFiles/ BNA_V2/HR/Products/Surveys_and_Reports/HR%20Department%20Benchmark%20and%20Analysis%202015-16_Execu- tive%20Summary.pdf 2 Bersin by Deloitte (2016). Talent Analytics Maturity Model. https://www.linkedin.com/pulse/people-analytics-takes-off-ten- things-weve-learned-josh-bersin 3 HCI and Oracle (2015). Insightful HR: Integrating Quality Data for Better Talent Decisions. http://www.oracle.com/us/products/ap- plications/human-capital-management/hci-insightful-hr-executive-report-2565528.pdf 4 Crowley, M. (2015) Employee Engagement Isn't Getting Better And Gallup Shares The Surprising Reasons Why. https://www. linkedin.com/pulse/employee-engagement-isnt-getting-better-gallup-shares-mark-c-crowley?trkInfo=VSRPsearchId%3A29465 39751453970072586%2CVSRPtargetId%3A6080088187659698177%2CVSRPcmpt%3Aprimary&trk=vsrp_influencer_con- tent_res_name 5 Kessler, G. (2014). Do 10,000 baby boomers retire every day? The Washington Post. https://www.washingtonpost.com/news/ fact-checker/wp/2014/07/24/do-10000-baby-boomers-retire-every-day/ 6 Craighead, C. and Ruamsoom, K. Forecasting a Supply Chain Talent “Perfect Storm.” Supply Chain 24/7. http://www.supply- chain247.com/article/forecasting_a_supply_chain_talent_perfect_storm 7 WorkplaceTrends (2015). The Millennial Leadership Survey. https://workplacetrends.com/the-millennial-leadership-survey/ 8 Davenport, T. H., Harris, J. and Shapiro, J. (2010). I. Harvard Business Review, 88(10), 52-58. 9 http://www.baselinemag.com/analytics-big-data/how-analytics-helps-companies-improve-talent-roi.html 13