New Trends in HR: The Chief Talent Officer
Posted on September 18, 2014
The world of human resources is in the midst of a fundamental shift. Gone are the days when hiring consisted of simply receiving resumes and conducting interviews: now, talent management is the name of the game. To reflect that, some organizations are hiring a Chief Talent Officer, or a senior executive who is tasked with managing talent relationships.
What exactly is “talent relationship management”? Simply put, it is the practice of maintaining relationships throughout the course of a person’s career--even when they are not your employee. Implementing this approach ensures that the best talent will come to you first when they are ready to make a change. However, the traditional, transaction-based HR role is not typically equipped to handle this. That is why the Chief Talent Officer role makes sense.
Experts in talent relationship management are better prepared to handle the following three workforce trends:
1. Short-term employment
Employees are changing jobs, and even careers, at a faster rate than ever before, and short-term employment is now the norm. Young employees now believe that they will work for 15-20 companies during their careers, up from 5-7 just 15 years ago. This demonstrates a shift in employment practices that every company must recognize.
With this shift, employers have to stop thinking that changing companies equals disloyalty. Top talent will move around in order to gain a competitive advantage in their careers. Viewing multiple employers as a negative will sharply limit your available talent pool and close your business off to many potentially impactful employees.
2. Boomerang hires
Following the trend of a mobile workforce, employers must consider re-hiring employees. Boomerang hires—or employees that leave and come back to your company—are becoming necessary to ensure long-term access to the best talent. Allowing an ex-employee the option to come back after they have gained skills and experience from other companies can have a positive impact on your business. Plus, re-hiring can be profitable, as rehires are generally productive more quickly than new hires because they are already familiar with the way things are done.
3. Online presence
Social media and an employer’s online presence is more important than ever in the hiring and talent realm. Many employers fail to prioritize their online presence, but this can be a mistake. A number of websites now exist that rank employers on everything from compensation to benefits and perks. Plus, many people follow potential employers on social media. So, use this online opportunity to your advantage. Smart employers realize that social media is an outstanding tool for storytelling and showcasing your employment brand.
Attracting top talent and maintaining relationships is critical, and companies must keep up with the changing workforce in order to gain the talent advantage needed for success. Learn how Paycor’s Applicant Tracking solution can help make your talent acquisition practices more strategic.
Source: Universum Global