In the global economy, enterprises are continually striving to innovate their business processes to not only keep up with but also move ahead in their market sector. Corporations need to ensure technology and talent thrive together, says Claudia Saran of KPMG. Today’s technology can help CEOs find and retain great global talent.
HR and Analytics
Data analysis can be helpful for recruiting, but it also can help the human resources department make better decisions about its current workforce.
Retention can be a major concern for corporations in competitive job markets such as information technology. The HR team can drill down into the data and find out what factors are affecting turnover rate, says Audrey Roth of HR Today. The numbers can show a clear picture of why a particular role is a problem or whether millennials really are hard to please.
By analyzing employee and position data, HR can determine who is stagnating and figure out why that is occurring. HR often seems to exist in a vacuum because the representatives hardly ever see the employees or managers except for exit interviews. Data may be the best tool available for HR to make asset allocation decisions.
Today’s corporate workforce wants to collaborate and innovate. Companies that foster a culture that drives and rewards disruptive innovation have a better than average chance of retaining talent.
If companies can speed up the decision-making process and implement consumer insights faster, employees will be able to see and measure results. Otherwise, they’ll be without waiting so long for a project to go live that they forget about it.
To better collaborate with global contingent workforce, firms should work to improve their video meeting solutions. The BlueJeans Network offers many opportunities to harness the power of the internet of things through interoperability and scalability.
Happy employees know what is expected up them and have regular feedback from their supervisor. An employee who has been given goals to innovate will be motivated. Feedback can increase motivation and keep the employee on track.
Outsourcing and Contracting
One of the biggest advantages of video conferencing is the ability to access talent offshore and remotely. Companies can save time, money and office space with remote workers.
Contracting talent instead of hiring full-time employees with benefits can help companies on many levels. Not only is there less commitment for the employer, the contractors don’t have to spend time on extraneous training. A six-month contract gives both parties a chance to get a measure of the situation and either continue or look for something else.
Keeping payroll cost low is important for large corporations but also for startups. The tendency is for startups to scale too quickly. Just because a small business raises a lot of cash to start operations does not mean the CEO should spend it all.
Milestone accomplishment should drive spending decisions. After a startup hits a milestone, it has leverage to acquire more funding. It’s idealistic to think the startup will make a profit in the first year.
Another great thing about video conferencing is the equipment can be inexpensive. All a startup needs is an internet connection, a computer and projector in a meeting space. The remote workers can use their laptops or cellphones to connect.
Avoid Recruiting Mistakes
Data mining to find candidates is a great start, but connecting with those people and keeping them interested is all about marketing.
The online application form should not be a two-hour gauntlet. There certainly should not be any redundant questions. After the candidate completes the form, he should receive something better than an automated response. Within 24 hours, he should definitely either receive a rejection or an invite for a phone interview.
Pre-employment tests for most positions are a waste of time. They do not improve hire quality, and they kind of insulting to the candidate. Asking a candidate to endure more than three interviews is ridiculous and makes the company look incompetent.
Instead of trying to find out what a candidate made at his last job and offering a slight increase, companies should know the correct market value of a position. Great candidates are not going to settle for a below-market salary just because the headquarters building has nap pods.
Perks are good for keeping up morale among current employees. Instead of trying to sound hip by using a buzzword such as “corporate culture,” introduce the candidate to a couple of people he will be working with if hired. Don’t do a team interview. Those can scare off candidates depending on their personality.
As a company grows, should its employees. Regular training inside the organization that can help employees improve their performance and advance is an inexpensive way to help with retention and improve workforce quality. Companies have to commit to improving, if they want to attract and retain the best employees.