Dave Heisey is back with Jeffrey Mosher. This time around they are reviewing a Crestcom study module which reviewed taking charge of talent management on this segment of the Michigan Business Beat.
Dave is President of DRH Enterprises, LLC, Holt, MI, and a Crestcom training facilitator in Michigan.
To hear Dave and Jeffrey discuss Talent Management, click play on the PodCast below.
The labor market over the past couple of years has been tight, and the ability to find highly skilled and capable employees is more difficult than ever. There is also a significant workforce generational shift taking place, with Baby Boomers starting to retire, and being replaced with Gen-X, Gen-Y and now Gen-Z. These younger generations aren’t interested solely in a job, with compensation and benefits. The Millennials particularly are looking to make an impact - to have importance associated with the work they do. And yet a 3rd key factor is that 70% of the workforce won’t respond to a job posting, because they just aren’t looking to make a change (even if their work situation is not the greatest).
So how can you overcome these large hurdles to finding talent? A comprehensive talent management process, which begins with advertising your culture and brand - not to customers, but to potential employees. Many highly regarded companies are incorporating these elements into their employment web-pages - in fact - you may have trouble finding a job description on line. Have employment materials with you for industry events, association meetings, job fairs, college visits and anywhere you might run into potential employees.
Whether you have a specific job opening available at the time is not necessarily the point - you want to create interest in your organization, such that when an opening becomes available, you have a talent pool ready to respond. Finally, think strategically about a potential employee funnel in the same manner you think of a sales funnel. Lead generation, candidate engagement, candidate screening & assessment, interviewing & the offer.
If you’d like to learn more about an effective Talent Management approach, and how your company can improve the selection, hiring and retention of high potential employees, feel free to contact me - I’m happy to discuss these concepts in greater detail.