At a time when the unemployment rate is above eight percent and people are desperately seeking work, employers are surprisingly having difficulty filling critical positions. According to a recent article in Chief Executive, the reason employers struggle to find employees is because an overwhelming number of skilled Baby Boomers are retiring, leaving the workforce inundated by under-skilled entry-level applicants.
So how do employers address this challenge? Many CEOs are prioritizing their talent-management strategy. Such strategies entail identifying leadership potential in applicants, performance assessments and development activities. CEOs are also actively participating in the interview process, rather than completely relying on or delegating to HR. Here are some of the strategies employed by major CEOs for recruiting and developing talent:
Miles White, Abbot Laboratories CEO, participates in the interviewing process for the top 400 jobs in his company. He says this gives him greater insight into the talent pipeline and allows him to plan for movement of resources well in advance.
Mark Hass, president and CEO of the world’s largest public relations firm Edelman, regularly holds 90-minute video conferences with employees called “Hangouts with Mark.” The video conferences allow Hass to engage with his employees on a variety of topics and gain visibility into them at a different level.
Jim Moffatt, CEO of Deloitte Consulting, emphasizes the importance of talent and people. He responds to his employees efficiently and authentically, mentors them and helps them develop their talent. This lets his employees know they are important to him and inspires them to do the best they can.
Mark Hatton, CORE Security CEO, hires people with management experience but offers them opportunities to learn new skills. Providing employees at the management level with resources and training creates an environment focused on learning and innovation. Hatton says dynamic learning environments always attract the best talent out there.
In days gone by, if you worked for a medium to large-sized company, the personnel department was the place that processed your job application and federal Form W-4 when you were hired and maybe handled your pension. There wasn’t much interaction beyond that.
Times have been changing since those days of paper files and mimeographs, and once again, we can thank technology for driving a major shift in business strategy that started with the evolution of the Human Resources department and accelerated with another new concept known as “talent management.”
After computers began to automate many traditional personnel functions, managers in that arena were freed up to offer broader employee assistance. The Human Resources Department coordinated sophisticated benefit enrollments, staff trainings and evaluations. Starting in the 1990s, there was a new focus on staff development and view that people, not just capital or property, are business assets.
For the Denver Business Journal — By Stephanie Klein
Of all the benefits to having a solid, proven hiring process at your business, the greatest is this: hiring the wrong person, which is often the result of a misguided hiring process, can cost your business thousands of dollars and have ramifications that echo far beyond that single bad hire.
It’s a scenario many business owners can relate to: you have a short amount of time to hire someone for a critical role in your company, so you post a basic a job description on a few job boards, review a bunch of resumes and hold a handful of interviews, deciding quickly on who you feel could fit the position well.
Facebook and other social media platforms are becoming common topics of discussion during the job interview process. More employers are first vetting a potential employee by “Googling” them, checking out their Facebook profile, Twitter feed, Google+ account, and more. This has led some job seekers to either hide or delete their accounts all together.
Historically, resumes have been a critical part of the hiring process for employers and candidates. They have allowed candidates to highlight who they are and what they have done, and allowed companies to review a candidate’s qualifications and experience to narrow the interview pool.
Some companies, especially those in tech or marketing, are skipping the resume today and asking candidates to send links to their “web presence,” such as a Twitter account, LinkedIn profile, blog, or even a short video that demonstrates the person’s interest in the job. While standard fare is still to request a resume, this trend may be a prelude to future hiring.
Why might this practice grow?