“I know the perfect person…”

Boosting recruiting and retention through employee referral programs

Talent Referral

Posted by Robin Erickson on October 21, 2014

Tapping current employees to source new candidates is a viable recruiting strategy for many reasons: high return on investment (Bersin research found that 9 percent of the overall spend for sourcing went to employee referrals, delivering 16 percent of new hires1 ); good cultural fit (employees tend to refer candidates with similar skills and attributes); access to specialized or hard-to-find skills (people typically network with others in similar roles); and long-term effectiveness (one study showed a 42 percent retention rate after three years for employees hired through employee referral programs vs.32 percent for employees hired through job boards and 14 percent for career site hires2).

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Talent is universal

Just as the need for talent is universal, the solution can be as well. Are you familiar with the Open Talent Economy? We first met it as a Human Capital trend, where it explored the notion of expanding talent networks beyond “balance sheet” employees to include “partnership talent” (employees who are parts of joint ventures), “borrowed talent” (employees who are part of contractors or outsourcing relationships), “freelance talent” (independent, individual contractors), and “open source talent” (people who don’t work for you at all, but are part of your value chain and services).

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How sophisticated is your Talent Acquisition social media strategy?

Talent Acquisition social media strategy

Posted by Robin Erickson on August 26, 2014

A soon-to-be-released Bersin by Deloitte study on High-Impact Talent Acquisition1 finds that social media use is a key driver of talent acquisition (TA) performance and a telltale sign of maturity in using TA strategically to enable the business. Mature organizations embrace the opportunity to leverage social media not only as a recruiting vehicle but also as an outlet to promote their employment brand, even going so far as to hire strategists to “curate” social media content. In fact, the study finds that the most mature TA functions are five times more likely to have effective social media campaigns than the least mature TA functions. Why does this matter? Because talent “lives” online these days, and social media is one of the most popular (and highly populated) neighborhoods, making it a prime source for recruiting.

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Finding an Authentic Leadership Voice

Finding an Authentic Leadership Voice

Posted by Tom Morrison on August 7, 2013

In Deloitte’s recent survey of 1,300 business and HR leaders in 59 countries, 61 percent of respondents around the world (64 percent in the U.S.) consider the need to improve leadership development to be a top, highly relevant trend today. That finding certainly jibes with what we hear from clients, and from my experiences recently at a well-known leadership conference. There I interacted with a broad range of executives from all parts of their organizations, with the consensus that gaps in the leadership pipeline are a pressing concern and that the leadership development and mobility programs many have been cultivating over the last 20 years or so aren’t getting the job done.

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“The reality is, leaders are not developed in schools”

Video Blog: Debunking the Superman Myth

Superman Myth

Posted by William Pelster on July 25, 2013

“The reality is, leaders are not developed in schools” It’s also reality that leadership — finding it, cultivating it, keeping it — consistently ranks as a Top 3 priority for CEOs in survey after survey, whether conducted by Deloitte or other entities. What has changed, though, is the notion of what effective leadership looks like. We’ve moved beyond the myth of the “perfect” leader to realize that leadership looks different and requires different skill sets depending on the situation and environment — leading a team at corporate is not the same as leading a team in the field in Beijing or Bangalore. Business has grown too complex and multidimensional to expect one person to have the necessary skills to excel in any situation. Instead, leadership today is about building a bench of leaders with varied skills that are in tune with the organization’s priorities and goals. That kind of development takes time and the commitment to provide leaders with varied, authentic experiences that challenge them to solve problems in the real-world, rather than in a classroom. Organizations that make it part of their business model to develop and redevelop their leaders will be the ones that can not only attract and retain valuable leadership talent, but also deploy it to their advantage.

Listen in now with HR Times and Bill Pelster as he discusses the 2013 Human Capital Trend: Debunking the Superman Myth.

Transcript

What’s driving the Human Capital Debunking trend?

Every time we take a look at either an internal Deloitte survey or any surveys that are done of CEOs by other agencies or entities, leadership is always the first, second, or third top priority out there, and in many cases, it is the number one priority for leaders and it is leadership beyond just the C-suite, it is leadership around succession, it is leadership around all levels in the organization having the right people in the right spot at all levels in organization, and then having leaders available to actually react to what is happening in the marketplace or to execute your business strategy. So when we talk about thinking through a trend, this leadership one just continues to be a top priority for many of our executives out there

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Are you open to being more open?

Are you open to being more open?

Posted by Andrew Liakopoulos on July 12, 2013

Today Deloitte launched a new report that zeros in and expands on one of the 2013 Human Capital Trends we’ve been tracking: the open talent economy. We’re seeing an unrelenting progression toward a fundamental change in the way organizations consider, access, and deploy talent, brought about by the convergence of several sweeping megatrends: globalization, technology, education, mobility, social media, and analytics. There’s no place where you can hide from these world¬wide changes, and no industry or sector that is immune to them. No matter what you do or where you do it, these megatrends will affect your business strategy.

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Finding the Answer to HR’s Need for Data-Driven Business Results

Finding the Answer to HR’s Need for Data-Driven Business ResultsPosted by William Pelster on January 4, 2013

In HR and elsewhere, we’re in thrall to Big Data – sold on the power that information and analytics can give us as we work to understand our surroundings and make critical decisions.

Big, however, is only one of the ways to measure data’s value. Fresh, original and relevant matter too. When you apply the right knowledge to a challenge, the strategies you form as a result are better. The work of designing and implementing change is easier and more effective. When all the elements align from beginning to end, HR can more easily reach its full
potential to drive bottom-line business results.

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Is the Resume Tsunami All Wet? Or Just Gathering Momentum?

Is the Resume Tsunami All Wet? Or Just Gathering Momentum?Posted by Robin Erickson on October 23, 2012

Back in the fall of 2009, Deloitte released a special report on talent retention based on a survey of more than 350 employees around the world. At that time, nearly half (49 percent) of the surveyed employees were considering leaving their jobs—30 percent were already actively looking for new employment. The indications pointed to a pending “resume tsunami” once the recession ended and improving prospects bolstered employee confidence and desire to test the employment waters. These findings jibed with Deloitte research that found when unemployment goes up, employees stay put and when unemployment drops, employees look to move on.

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