17th Learning EB: Current trends and challenges on talent management

17th HR Philippines Learning EB
Current Trends and Challenges of Talent
Management in the Philippines
www.hrdguru.wordpress.com

Current Trends and Challenges of Talent Management in
the Philippines
I. Introduction
II. Current State of Talent Management
III. 8 Biggest Strategic Recruiting Challenges
IV. 12 Hottest Recruiting Opportunities in 2014
V. Summary

Introduction
In today’s volatile global economy, organizations are struggling to
establish and maintain an effective and affordable attraction, retention
and engagement strategy.
Know-how, innovation and experience constitute the main advantages
that organizations can have over their competitors. The most talented
and most skilled employees drive these advantages.
Therefore talent management should focus on the organization's talent:
the most skilled and experienced individuals. Attracting, developing and
retaining talent is fundamental to a company remaining ahead of its
competition.

Current State of Talent Management 2012-2013
Important Data:
• Almost three-quarters of survey
respondents (72%) cite problems
attracting critical-skill employees.
• About six in 10 have difficulty
attracting high potential
and top-performing workers (60%
and 59%, respectively).
• In addition, 43% have problems
attracting diverse
Employee populations.
*** Tower Watson 2012 – 2013 Global
Talent Management and Rewards
Study
** 1,605 employers globally

TOWER WATSON REPORT 2012-2013
Figure 1. Diffi culties attracting and
retaining key employee groups continue
despite variable economic conditions
To what extent is your organization
experiencing problems
attracting/retaining
employees in the following groups?
Problems Attracting
*
Problems Retaining*
All employees 31% 25%
Critical-skill employees 72% 56%
High-potential employees 60% 55%
Top-performing employees 59% 50%
Diverse employee populations 43% 31%
Recent university graduates 18% 20%
Employees with tenures between 18
months and three years NA 43%
* Percentages represent the percentage of respondents hav ing diffi culty to a moderate or great extent.

Biggest Talent Concern:
• Availability of talent (right
numbers, right time, right
quality/skills)
• Low attrition rate
• Quick replacement for
movements and attrition
Business Impact:
Affects continuity of
operations, quality of services,
and growth
*** 2013 B&M Global Services Manila Case
Study: An Integrated Talent Management
Program
The Philippines has the highest unemployment rate
among members of the Association of Southeast Asian
Nations (Asean), according to a report of the
International Labor Organization (ILO) published in 2014.

The Biggest Strategic Recruiting Challenges
1. Retention problems will
increasingly impact recruiting
As more employees become
comfortable shifting away from
security needs and toward more
exciting job opportunities, turnover
rates will increase by over 25
percent. This dramatic increase in
turnover will create many new
“sudden openings” which will put
an added strain on already
stressed recruiting systems. In order
to help reduce future turnover, the
“potential for early turnover” will
have to be included in the
assessment criteria for all finalists.

2. Process Time /Speed is once
again becomes essential to
remain competitive
Over the last few years — with
high unemployment and little
competition for talent — in many
cases recruiters could take their
time and still land top candidates.
As the pace of change in business
and the competition for talent
increases, firms will have no
choice but to revisit “speed of
hire” approaches and tools in
order to land candidates that are
in high demand.

3. Limited resources will require
position prioritization
The increased hiring volume
coupled with the inevitable lag in
being provided with additional
budget resources will require most
firms to prioritize their jobs.
Recruiting will then allocate their
resources toward filling revenue
generating and other high-
business-impact positions.

4. Business volatility makes
workforce planning more
necessary but more difficult
As continuous business volatility in
a VUCA world becomes the “new
normal,” executives will increase
their demand for data-driven
workforce planning. Unfortunately,
most talent functions simply do not
currently have staff with the
capability to conduct
sophisticated workforce
forecasting and planning.
*** Dr. John Sullivan is an internationally known HR
thought-leader from the Silicon Valley
VUCA best describes the volatile
and chaotic business, economic,
and physical environment that we
all now face
In a VUCA environment, there are
more changes, a faster rate of
change, and the size of the
changes are so impactful that they
must be labeled as “disruptive.” So
the question for talent leadership
becomes, “how do you effectively
hire, develop, place, and retain
individuals and leaders in the volatile
environment where literally
everything changes in months rather
than years?”

5. College recruiting must be
reengineered if it is to succeed
The demand for college talent in
key majors will continue to
increase dramatically.
A reengineered college recruiting
model must move beyond a focus
on career centers and increase its
capabilities in the areas of global
college recruiting, remote college
recruiting, recruiting students from
online universities, recruiting
“passive” students, and the use of
market research to completely
understand the job search process
and the expectations of this new
generation of grads

6. The shortage of top recruiters
will become evident
As recruiting ramps up, firms will
begin to realize that there is a
significant shortage of talented
and currently up-to-date
recruiters. After poaching from the
rapidly shrinking executive search
world, leaders will begin bidding
over top corporate recruiters.
A lack of quality internal and
external recruiter training
capability will make the recruiter
shortage even worse.

7. Large firms must learn to
compete with startups for talent
The recent lavish funding and the
economic success of numerous
startups will continue to make
them attractive to innovators and
top talent. Unfortunately, few
major corporations have a
market-research-driven strategy or
a set of tools that allows them to
successfully recruit against startups
for these valuable prospects with
a “startup mindset.”

8. Finding a high-impact
technology will still be
problematic
Although there is a wealth of new
technology in recruiting, almost all
of it is designed to reduce costs
and administrative burdens.
We have yet to encounter the
breakthrough recruiting
technology that produces a
competitive advantage by
demonstrating in a split sample
that its usage directly improves the
on-the-job performance of all new
hires by at least 20 percent over
existing processes.
A recent survey (Forbes) suggests that 57
percent of companies plan to make a major
HR technology purchase in the next 18
months, and recruiting is the most commonly
cited focus for the big-ticket purchase
*** Josh Bersin (Forbes.com)

12 Hottest Recruiting Opportunities in 2014
1. Competition for talent
continues to Intensify
Dr. John Sullivan a internationally
known HR thought-leader said
that in 2014 can be called “the
year that intense recruiting
competition returned.”
That is because after years of slack
hiring, the competition for top
performers and technical talent
will increase over the next year in
many industries to the point where
current recruiting resources and
tools will be stretched to the limit.

2. A metric-driven employee
referral program as a
dominant hiring source
As more firms adopt quality of hire
metrics, it becomes even clearer
that well-designed employer
referral programs produce high
performers, high retention rates,
and if managed correctly, they
are faster, just as diverse, and
often cheaper than all other
sources.
At the same time, many of the
recently introduced vendor
supplied external referral programs
will begin their inevitable decline.

3. Predictive metrics and the
use of big data move from
interesting to essential
This new focus will be on real-time
metrics that let managers know
what’s happening today, and
predictive metrics, which alert
everyone about upcoming
recruiting problems and
opportunities, so that they can act
appropriately with time to spare.
Although still in its infancy, a
handful of vendors are beginning
to show that you can actually
identify hundreds of top
performers who are not currently
looking for a job (the so-called
passives) using external “Big Data.”

4. Employer branding returns
as the only long-term recruiting
strategy
After years of minimal funding and
attention, strategic employer
branding begins its return as the
only long-term recruiting strategy.
This shift is partially due to
increased recruiting competition
but it also comes about because
social media now makes it so easy
for others to virally spread either
positive or negative comments
covering working at your firm.

5. Boomerangs (Re Hires)
become a primary target once
again
Boomerang rehires have proven
to be one of the highest quality of
hire sources, and this new talent
shortage will return them to
prominence after years of
inattention. As the competition for
talent heats up, the best firms will
re-energize alumni groups and
they will use them as the
mechanism for bringing back the
very best former employees with a
proven track record (among the
many who were recently
released).

6. Accepting social media
profiles in lieu of resumes
opens the door to many
passives
The unabated corporate goal of
targeting and recruiting those top
prospects who are not in job
search mode” cannot be met if
an up-to-date resume is required.
That is because these individuals
often resist applying for a job
simply because they don’t have
the time to update their resume

7. Social-media and mobile
platforms continues to be a
critical tool
The emergence of the technical
capability that allows the direct
“instant” application for jobs from
mobile phones and social-media
sites will soon become
mainstream. A multitude of
startups will continue their
development of a variety of
recruiting-focused mobile phone
apps. and will also partner with
social media sites

8. Pre-recorded Video Resume
and Live video interviewing
steadily grows in acceptance
Reviewing pre recorded video
resumes and conducting Live
video interviews has now proven
its effectiveness, so its use will
continue to expand until it
becomes the standard practice,
at least for initial interviews.

9. Market research practices
will eventually allow you to
fully “know” your prospects
and candidates
Recruiting leaders should learn
that you can’t effectively find or
sell top prospects until you fully
understand how they search for a
job, where they would see
recruiting information, and what
factors excite them about a
company or a job.

10. Firms must eventually begin
to “map” their future talent
pipeline
This practice involves identifying
and then “mapping” the top
talent throughout your industry
with the goal of eventually
bringing the best onboard when
they are ready to move on. More
firms will also eventually learn to
use professional learning
communities as talent pools, while
others will use pre-need employee
referrals to develop this talent
pipeline based on employee
recommendations.

11. Finding “their work” online
will eventually become a key
sourcing tool
As more and more individuals post
examples, pictures, videos, or
portfolios of their work on the
Internet, finding talented
individuals who might not be
looking for a job will move into the
mainstream. In addition,
evaluating their actual work will
prove to be an accurate
assessment approach.

12. Near Hire Training
Although the concept of Near Hire
Training is not new, but the due to
the emergence of a competitive
market and the continuing “war
for talent”, Stakeholders are again
realizing the real value of having
an effective Near Hire Program.
Reliable near-hire training is
extremely valuable in ensuring you
always meet your recruitment
ramps. Statistically, near-hire
training averages an 70%- 85%
success rate in converting failed
applicants into successful hires.

SUMMARY
 War for Talent is Real. Unlike the talent war of the 1990s and up to the
early 2100s, which was driven by a lack of supply of all talent,
today’s war is all about a lack of supply of the right talent to
generate growth and compete in a crowded and fast-changing
economic and technological landscape. Being able to have
numerous strategic, scientific and “out-of-the-box” game plan is
crucial for success in winning the war for talent.
 Talent Acquisition (Sourcing & Recruitment) should finally adopt the
practice of monetizing its business impacts – By moving away from its
long-held attempt to “align with business goals” and instead focus
on having a direct impact on business goals.

Speakers Contact Details
FB: www.faceboom.com/HRDGuru
Twitter: darwinrivers
LinkedIn: www.linkedin.com/in/darwinrivers
Blog: www.hrdguru.wordpress.com

17th Learning EB: Current trends and challenges on talent management

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17th Learning EB: Current trends and challenges on talent management