Winning the War for Talent with Holistic Talent Management Tim Kelleher KBACE Technologies 1
Agenda Introduction The War for Talent Point Solution Viability Strategies for Winning the War for Talent How do I get budget approval? (ROI) 2
The Perfect Storm for Holistic Talent Management Impending Talent Shortage Point Solution Viability Comprehensive ebusiness Suite Offering 3
Leadership How to Fill the Talent Gap By DOUGLAS A. READY and JAY A. CONGER September 15, 2007; Page R1 It's no secret that global companies are finding it harder to fill critical jobs these days. They're struggling to land top recruits in emerging markets, for instance, and haven't prepared people in their own ranks to step seamlessly into management slots. Companies are racing to find solutions, but most of them are making a crucial error: They're treating these problems as separate issues. At most multinationals, a host of problems in recruiting and developing talent are converging to create a perfect storm -- a crisis that could derail the company's growth strategies. To meet the challenge, companies must rethink how they hire, train and reward their employees, placing those tasks at the heart of their business plans. In doing so, they have an opportunity to address all these separate problems with a unified plan, rather than waste time and resources attacking each of the issues individually. 4
The Impending Talent Shortage 5
Everyone is concerned about talent. 6
Baby Boomers retiring 7
Higher Education Flat Lining 8
Equal Shortage of Skilled Workers 9
Point Solution Viability 10
Point Solution Viability Recruitmax (now Vurv) buys CCH KnowledgePoint Workstream buys PeopleView Authoria buys Advanced Information Management Resumix acquired by Yahoo and now no longer supported. isearch out of business Restrac became Web Hire. Web Hire was acquired by Kenexa Personic went out of business and became Xperius Xperius was later acquired by UniCru UniCru was then aquired by Kronos Hire.com was acquired by Authoria BrassRing was acquired by Kenexa 11
.and it continues On July 1 st, 2008 Taleo acquires Vurv As the economy continues to struggle who will be the next point solution to be bought or just close its doors forever? 12
Comprehensive ebusiness Suite Offering 13
Gartner: What To Expect From Your System 14
Oracle EBS Talent Management Suite A Comprehensive Talent Management System Business Process Modeler User Productivity Kit Collaboration Suite Portal, HR Intelligence, Web-based Self-Service Applications HR Intelligence/DBI irecruitment Performance Management Career Planning Succession Planning Learning Management Compensation Solutions Competency/Profile Management Integration Single Sign On, Workflow, Warehouse Core HRMS 15
Strategies for Winning the War for Talent 16
In the War of Talent.. Retention is your best Weapon 17
Strategies for Winning Give employees the tools they need to tell you what they know. - Track Skills/ Competencies - Track Education and Qualifications - Tool to create a Working Resume - Search Agents to proactively notify of new Openings 18
Strategies for Winning Give Managers the tools they need to tell employees what is necessary. - Performance Appraisals - Skills/Gap Analysis - Learning Paths - Compensation Workbench 19
Tracking Skills 20
Tracking Skills 21
Tracking Education & Qualifications 22
Create a working resume 23
Search Agents = Proactive Notification 24
Strategies for Winning Give Recruiters the tools they need to find who is the best fit. - Suitability Matching - Candidate Pool that includes BOTH Internal and External sources. - Assessments - Blended search of Structured and Keyword - Search Agents to proactively notify of new Candidates 25
Suitability Matching 26
Suitability Matching 27
Suitability Matching 28
Find Candidates 29
Internal & External Candidates 30
How do I get budget approved for..? Recruiting Performance Reviews Employee Training Reporting 31
Recruiting - irecruitment Before After 32
Why Recruiting? Time to fill reduced by 50 63% Agency fees reduced by 45% Offer Letter time 1 hour manually 11 minutes electronically Offer Letter cost - $50 per offer to $3.00 per offer Improve time required to process a job requisition by up to 25% Improve time required to apply for a job by up to 50% Sources: Aberdeen 33
Performance Reviews Before After 34
Why Performance? Companies who use an automated solution Improve Employee satisfaction up to 22% Increase Performance up to 21% Improve Retention up to 21% 50% Less likely to report a drop in revenue in the last 12 months 44% Less likely to experience a decline in Profit. 3 X s as likely to be Very Satisfied with their Performance Management solution Source: Aberdeen 35
Employee Training Learning Management Before After 36
Why Learning? 45% of companies rank talent development as a Top Two business priority 30% of companies identify an employee learning and development system as a Top Two technology investment Talent management and acquisition rated first in senior leadership s list of the most important short-term issues. CIO s rank attracting, developing, and retaining talent as their No. 1 concern. Sources: Aberdeen 2007/2007, Information Week -2007 37
Reporting Before After 38
Why Reporting? Information available real or near real time online, anytime. Subscription services to push reports to users e-mail at the time, frequency and format of their choice. Dashboard with summary information allows for drilling to transactional level data. Report across Workforce, Recruiting, Learning, Performance, Benefits and Payroll seamlessly. 39
Summary Business conditions and labor markets require a focus on talent management via a comprehensive and well-executed HCM strategy HCM technology plays a key role to deliver an integrated talent management strategy Single, enterprise-wide system with a competency foundation Integrated programs and business processes Business intelligence Development and execution of Talent Management is accomplished in multiple phases, and every firm is at a different point 40
Thank You! 41