The Jobg8 team have recently read a report produced by Universum. This gave some great insights into the future of talent, given that job boards are a key part of the ‘recruiting and talent ecosystem’. We share their key findings and add our own unique take on it.
“Just-in-time availability of talent with the right competencies and skills will be crucial for future business success. Employers have to create a talent advantage by building long-term relations with high potentials. From initiating early contacts with young, prospective employees to capitalizing on rehiring former employees. Rehiring will also increase the return on investment in the training and development of employees.”
Jobg8 – Agree. In a recent blog we talked about Supply Chain Management and Recruitment. A motor manufacturing plant knows it needs a bolt to go on a wheel of a car. Without it, the car cannot come off the production line. They have multiple supplies. They have planned and they can act swiftly. Recruitment needs to think and act like this in many cases by pre-screening qualified candidates who are engaged and ready to join the organisation.
“Talent relationship management (TRM) will become a central part of the HR strategy. Therefore the HR organisation must be designed to manage a long-term focus on high potentials to ensure optimal business performance. One approach could be to introduce a new position, the Chief Talent Officer; a strategic and critical business role responsible for building relations with internal and external talent pools as well as evaluating competencies and performance.”
Jobg8 – Agree. The CTO (Chief Talent Officer) is the equivalent of the CMO (Chief Marketing Officer). Their responsibilities will cover; workforce planning, employee engagement, talent acquisition, talent management as well as any related communications and marketing.
“Relations are being formed and maintained through social media in an increasing degree. Therefore employers have to create a social media strategy for talent relations. The young generations especially will expect employers to make use of social media in their conversation with the workforce.”
Jobg8 – Agree to a point. However social media is a communications tool alongside email marketing and phone etc. The real issue here is about Candidate Relationship Management. It’s about the long term strategic engagement with candidates who you know will fit the organisation culturally, have the appropriate skill sets and most importantly want to work for you.
“The transparency of social media may transform the talent market to a talent stock exchange, where both high potentials and employers are openly compared and where the best people are traded. Talent brokers or talent agents may emerge as new job titles as well as companies specializing in human capital investment and brokerage.”
Jobg8 – We like it. In some markets such as creative, IT or production at sites like Stackoverflow, Elance etc this is happening. Equally many forms of head-hunting are starting to see themselves as human capital investors and delivering coaching, mentoring and more as a service.
Will the “Mass Market” follow this route too early to tell and it is possible?