HR’s Top Priority for 2015 – Readying Your Organization for the Change in the Labour Market
The next year will continue to be a period of change and transformation for Human Resources functions across North America. I have been an HR and Talent professional for over 20 years working with some of the top organizations around the globe. This year has been one of the busiest years for our Recruitment and Talent Advisory Practice since our inception 7 years ago – and one of the top 3 reasons our clients have called us over the past year has been to help organizations prepare for the change in the labour market.
The market is quickly changing from “an easier to recruit in” employer centric market where the supply of strong talent has easily outnumbered the demand for talent. In 2015 the demand for talent will quickly overtake the supply of strong talent for the first time in the past 7 years. Unemployment rates will continue to drop to pre-2007 numbers and the strong talent every organization seeks for their critical roles will be tougher to find.
The smart organizations have been preparing for this change in the labour market over the past year investing appropriately in their talent management and acquisition functions and practices. They understand the HR challenges ahead for their organizations and have ensured their functions are positioned in the best direction.
Here are a few of the HR challenges your organization will face in 2015:
- Retention of your top talent – organizations across the continent are back in growth and will be more aggressive in the recruitment of your top talent to their organizations.
- Retention of your top recruiters – often an overlooked area of focus but anyone who has heard me speak at a conference knows my view that only 20% of corporate recruiters are good and the first step in recruiting top talent to an organization is to hire great recruiters. So do whatever you can to hold onto the great recruiters you have.
- Timeliness of your hiring decisions – over the past 7 years, organizations have increased the time they took in interviewing and making their hiring decisions. Unfortunately those organizations will lose the “good-to-great candidates” in their process to other organizations who are quicker to make their hiring decisions.
- Managing a candidate’s multiple offers and counter offers – with most organizations focused on hiring in 2015, don’t be surprised that the “good-to-great candidates” you make offers to will have the luxury of weighing your offer to at least one other organization’s offer to them – so you better put your best offer forward and not wait to try and negotiate with a candidate as you will lose them to another organization. Or just as tough a scenario will be the candidate’s current organization doing everything possible to prevent the talent from leaving and presenting them with a counter offer.
We work with organizations every day to help them prepare their recruitment practices to be effective (and more efficient) in meeting the demands of the changing labour markets. As an HR professional, what are you doing to prepare your organization for 2015?
Simon Parkin is the Practice Leader for Recruitment, Talent and HR Solutions at The Talent Company – www.thetalent.co Simon is recognized as a global thought leader in the acquisition and management of talent and has successfully transformed the Talent function for organizations of all sizes. Simon works closely with clients to build, develop and innovate their Recruitment, Talent and HR functions. He is a former global leader of Recruitment and Talent for a Fortune 100 company. Simon is a featured speaker at a number of HR and Recruitment conferences across North America and an author of many acclaimed articles on innovative Recruitment, Talent and HR trends and best practices. Simon’s full profile can be found athttp://ca.linkedin.com/in/simonparkin1
For more information on The Talent Company and our 12 Days of Talent project, visit www.thetalent.co