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FYI: Talent Management
Talent Management Hits Bottom of Priority List Talent management has taken a steep tumble on the list of business leaders' top challenges, according to the results of a new survey of leaders from 500 global organizations. A recent Pulse on Leaders survey, compiled in December 2008 and January 2009 by Minneapolis-based Personnel Decisions International, shows leaders now say financial pressures to cut costs (83 percent) and rapid market decline (54 percent) are their toughest business challenges, with talent management falling to last place on the list, at 5 percent. The latest findings are in stark contrast to a study by PDI from 2006 to 2008; in that survey, company leaders said top-line growth and talent management were the key issues. Marc Sokol, senior vice president and global practice leader at PDI, said in a statement following the latest study that the way a company handles talent management during a downturn is ultimately a reflection of the quality of its executives. "The best executives are focusing on both short-term challenges and long-term strategies," he said. "They recognize the need for key talent that can help the company get through current tough times, while also setting the stage for a competitive advantage once the recession ends."
Assessing for the Open Road Select International, a Pittsburgh-based talent management provider, has introduced a new remote assessment that aids in intelligent decision support for trucking companies selecting new drivers. The new assessment is called Road Worthy and is designed to specifically assess commercial driver candidates across a range of attributes known to be crucial to safety, reliability and performance. It is a predictive analysis tool that captures psychometric information about a candidate's attributes, including driving habits, risk assessment capabilities and other competencies necessary to performing as a reliable and safe driver. "Our goal in introducing Road Worthy is to help transportation companies hire safe and competent drivers and seat them in a revenue-producing truck quickly and efficiently," says Matt O'Connell, executive vice president and co-founder of Select International, who adds that the assessment is "extremely effective at identifying and eliminating candidates with risk-prone behaviors."
Sourcing Remains a Challenge Finding quality sources for candidates remains the No. 1 talent-acquisition pain point among recruiting decision-makers, according to a recent report. The report, completed by Los Angeles-headquartered talent-management consulting firm The Newman Group, is based on a survey entitled Talent Acquisition 2008: Survey and Analysis of the Changing Recruiting Landscape, which polled 500 practitioners active in talent management. According to the report, sourcing remains a key recruiting challenge as companies wrestle with options such as traditional Web posting and more advanced Web 2.0 and network-building efforts. With economic concerns driving more careful business decisions, the report found 54 percent of the respondents were engaged in "focused" workforce-planning activity. "Finding the right talent to deliver on objectives remains a key challenge for businesses today," said report author and The Newman Group's consulting director Sally Millick.
Experimenting with Social Networks An increasing number of organizations are informally experimenting with and benefiting from the use of social networks and Web 2.0 tools for business purposes, a new study has found. Conducted jointly by Washington-based think tank Human Capital Institute and talent-management software provider Cornerstone OnDemand, based in Santa Monica, Calif., the study found that more than half of 200 senior human resource professionals surveyed said their companies use communities of practice/groups, and chat and instant messaging programs. Forty-nine percent of those surveyed said their companies use corporate social networks, while 39 percent said they use blogs and/or wikis. "Corporate social networks and Web 2.0 tools can have profound implications around the talent lifecycle, employee productivity and engagement, and channel effectiveness, as well as brand and product awareness, which affects the bottom line," said Allan Schweyer, Human Capital Institute's executive director and senior vice president of research. "These new technologies are likely to be among the high-demand applications of the next generation of employees."
April 1, 2009 Copyright 2009© LRP Publications |
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