An interesting article by Gartner highlights how many enterprises are running non-optimal Talent sourcing strategies & initiatives. https://gtnr.it/2Ypgswm
Promoting appealing but generic company attributes with a strident sales pitch to candidates who have a “skill fit” is the cardinal sin that is being committed.
In today’s globally interconnected, 24*7 work environment, employees are spending most of their waking hours at work. The average worker will spend 90,000 hours at work over a lifetime.
Candidates, therefore, consider the office as a second home and expect it to have the attributes that will make it as, if not more, comfortable than their first domicile. So many companies have tried to conjoin the candidate’s life environment with the workplace, giving them access to gyms, recreation, food courts & daycare services. But a few core aspects are missing that not even high pay scales can adequately address.
*Skill fit vs. Goal Alignment: When a candidate is hired, no matter what his/her extent of “skill fit” for the position, the company is bringing a unique human being on board-the only one of his/her kind, with unique psychology, personality & values. Even more importantly, unique goals and aspirations. If these do not match those of the company, all other bells and whistles provided are futile, as the end result is an unproductive outcome, Reason being-the candidate’s suitability is being considered on an extremely limited set of parameters.
*Reactive Hiring Practices: In addition, thousands of companies hire based on generic trends or as a reactive response to opportunities that arise. This results in a situation where there is misalignment between the talent hired and the actual need of the hour. In addition, this leads to a scenario where multiple companies are trying to tap into the same limited talent pool in response to immediate market requirements.
*Engagement Ennui: Even for companies that fare better with the above issues and have hired a relatively aligned (“skill & personality fit” wise) set of candidates, ongoing employee engagement in a radically disruptive technology & socio-economic scenario poses a tremendous challenge leading to disengagement and even worse, attrition due to a highly competitive talent market.
These issues are faced by both Third-Party Outsourcers (TPO’s) as well as Global In-house Centers (GIC’s)/Captive Centres.
ScrumStart, as a partner to many of the world’s largest as well as smaller sized but rapidly growing companies, has confronted and effectively dealt with these challenges in a unique manner based on 3 major strategic pillars:
1.Talent Alignment: ScrumStart has ensured total fitment of candidates who work for its partners via its offshore Virtual Captive Centre model in part by using the path-breaking Talent sourcing tool SCIKEY a pioneering Talent Commerce Platform that uses algorithmic analysis to identify holistically aligned candidates. The use of SCIKEY has reduced “Time to Fill” Ratio by over 50% in ScrumStart.
2.Proactive Market-driven sourcing approach: ScrumStart uses structured methodologies to work with its partners to proactively anticipate their specific evolving needs as well as directional trends in the talent market, instead of simply providing a needs-based recruitment service. As per the Gartner report cited above, this flexible, yet evidence-based approach to recruiting can save an organization up to $1.8 million per 1,000 hires.
3.Engagement Excellence: In addition, Employee Engagement is embedded in the DNA of ScrumStart’s operations. It does this using a 5-pronged approach:
A study by Wyatt Watson(https://bit.ly/2IFeVNd) found that companies that have highly engaged employees produce 26% higher revenue per employee. This is expected, given that highly engaged employees are committed to ensuring success for their team.
These strategies as above have proven to be major factors that have enabled ScrumStart to save 25-30% more than traditional TPOs/GIC (Captive Centre) models (50 % more in North America/EU). In addition, they have provided ROI breakeven for Virtual Captive Partners within 1 year as opposed to typical 3 to 5 years in the case of a GIC/Insourced Captive Centre.
What are your own thoughts and experiences as an employer/employee/recruiter? What techniques could augment these approaches further? Do share your views, comments & insights.
About the Author:
Mr. Santosh Panicker, CEO ScrumStart, is a specialist in setting up business processes and has established himself as an inspirational leader in the corporate world. Mr. Panicker has demonstrated his capabilities in setting up end- to -end HR, legal, and business process operations for 9 start-ups through his career years. He has over 22 years of experience working across diverse industries including IT, FMCG, Retail, Automobile and consumer durables with blue chip companies