Benchmarking your employees and finding out what actually works is a vital skill for today’s human resources division. Media from the Wall Street Journal, to CNN, and CEO’s with whom I’ve spoken agree that one of the top strategic initiatives of many companies is hiring not only new talent, but the right talent.
With the diminishing available talent pool, and the compelling messages about off-shore, lower skilled labor and processes, I predict that companies will recognize the need to invest in hiring and retaining key people, at key positions, leveraging their opportunities to innovate, compete and achieve their corporate objectives. The impetus for this talent ‘shortage’ is that growth oriented companies are demanding more of their workforce, and are unwavering in their expectations to attract and hire ‘difference makers.’
Companies committed to winning the war for talent will not only have to create an environment that fosters growth, development and challenge, but they will need to implement systems and operating practices that leverage their ability to attract & retain the best. Given the amount of effort and money that will be budgeted to create extraordinary retention programs; these same companies will need to evaluate and improve their internal hiring practices so that only winners get in the door. In today’s competitive talent market, with candidates demanding top salaries, companies have the right to know what they are getting, and have the right to expect a return on investment with each hire.
As you inspect your hiring process, do you know how to assess the capabilities of your current staff? Without that information, how can you reliably hire new workers who can replicate, or improve upon their success?
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