Can the talent you need already be on board?
With more job openings than people to fill them, hiring the specialized skills required to propel businesses to greatness from outside the company, can be costly. Why not fill positions from within?
Cut the cost of recruiting externally, and take a closer look at your existing bench, the pool of talent at your fingertips to quickly backfill critical positions and retain top performers to address specific department demands and revenue growth initiatives.
Unfortunately, HR teams and hiring managers too often do not know the exact skill-set workers possess compared to business needs. While a well-defined talent acquisition (TA) process can be effective to identify new people to hire, depending on the talent tools used, companies relying on outdated and siloed applicant tracking systems (ATS) and technology must use a laborious and manual processes to get a complete view of hidden talent on the payroll today.
At first glance, finding, developing, and managing the ‘talent from within’ may appear to be more complicated and time consuming than it is worth. Yet, in order to keep a workforce engaged and reduce employee churn, much attention is needed in the area of career pathing and succession planning to drive expected business outcomes. A logically result of implementing a ‘look at current bench strength first’ approach can help identify and develop workers who may be a better fit for job openings; and retain the best employees to provide broader benefits to the greater organization.
Automated data-driven assessment tools where the employee information can be integrated into other talent management functions, such as onboarding transition management, learnings, and succession planning, can easily provide the insight managers need to uncover the skills they need inside the company. Coupled with behavioral analytics to help personalize and prescribe individualized employee coaching and development recommendations, organizations can create an environment where workers can progress through careers and simultaneously address skill gaps.
Build the best team with existing team members
Many companies use assessment tools in their hiring processes to recruit and narrow down applicants to create a candidate short list. However, existing employees share the same career advancement needs as new hires. The right tools can also be used to identify the ‘best fit internal candidates’, who are already familiar with your culture to create high-performing teams. So why not use the same pre-employment technology and techniques to help incumbents achieve individual career aspirations and goals? Like new hires, they too need personalized onboarding, training and development processes to successfully transition and be productive into new roles and positions.
Of course, to accomplish this task effectively, the assessment tool applied would have to include science-driven employee behavioral insight; in addition to standard talent acquisition functionalities to aid in more fact-based decision making. Behavioral attributes and related data can identify what motivates an employee and can highlight areas where they are likely to thrive and areas they will avoid. This type of data combined with a worker’s current skills credentials, education can provide a real-time view of internal candidates to quickly match talent to business needs.
Applying valuable talent analytics insight reflecting individual preferences on how people work, learn, and competencies can be also be a predictor of job performance and team fit. Filling positions with your on-board talent takes all parties involved (HR, hiring managers, and employees) to make this a ‘winning proposition’. HR staffed with the predictive and scalable pre-employee assessment tool can champion and facilitate internal hiring as an on-going strategic practice to build successor pipelines and plans to manage expected and unexpected vacancies. A hiring manager armed with individualized employee data can offer personalized career coaching and development plans in anticipation of business need. Employees, like managers, can be equipped with a comprehensive view of strengths and weakness to proactively participate in learnings; and be better prepared for career opportunities.
Increase internal hiring rate odds
Data-driven science-based talent tools can transform the way companies conduct succession planning and identify future leaders to retain an effective workforce; while lowering the cost to fill open positions.
According to SHRM, the average cost to hire is over $4K and fulfilling executive positions averaging around $15K. Tie this cost to the average time of 30 days to fill positions, can be a huge incentive for HR teams and hiring manages to strongly consider a complete set of talent acquisition tools and technology.
Modern talent acquisition practices and innovative pre-employment technology used to implement succession planning; aligned to organizational core values and culture, can help HR and managers develop realistic internal hiring plans.
Leverage pre-employment assessments measuring cognitive, competencies, and behaviors to get the highest return on a company’s costliest investment—its people. Identify and promote quality performers ‘from within’ to quickly respond to ever-changing skills requirements instead of hiring from externally. Improve the odds of finding internal skills with predictable behavior analytics to build competitive, diverse, and successful teams—for now and tomorrow.
Jill Strange is the Vice President of Science Applications at Infor.
- Global HR
- Infor HCM
- Talent Management
- Talent Science