Tag: Management

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WHAT Talent Experience Capabilities Are Smart Businesses Deploying

WHAT Talent Experience Capabilities To Deploy?

 “Alice asked the Cheshire Cat, who was sitting in a tree, “What road do I take?”
The cat asked, “Where do you want to go?”
“I don’t know,” Alice answered.
“Then,” said the cat, “it really doesn’t matter, does it?”

– Lewis Carroll, Alice’s Adventures in Wonderland

I am often asked “what” Talent Experience capabilities should smart businesses deploy; and I often use the above quote – my earliest strategy learnings. In my opinion, it is very important to have clear vision of where you want your business to be – before deciding on anything else. It is for this reason, previously for a 2019 trend, we analyzed ..

WHY Smart Businesses Are Using Talent As A Competitive Advantage?

Even though unemployment number drops to record low levels, the need for Talent is sky-rocketing. Smart businesses have now realized that people are their most important assets and a competitive advantage for their vision for business  growth. They are now retooling to achieve their fullest business potential by re-imagining their future.

Why smart businesses are not staying put on spreadsheets and siloed legacy HRMS solutions

It is a cruel irony that that spreadsheets and siloed HRMS solutions that once worked well for the startup phase of the businesses – now are staring to curtail and restrict any attempt by the business grow because of:

  • Lack of Single Version of Truth: data and time is lost in resolving the confusion of different versions and errors caused due to forced duplication of data for sharing with different stakeholders
  • Manual Processes: that cause avoidable errors and inconsistent executions based on variations in skills, experience and knowledge
  • Lack of Wing-to-Wing Analytics: that leads to a very siloed view and sub-optimum business performance as each division and department operates in isolation on their specific metrics without sight of the overall vision

The Benefits of Next-Gen Talent Experience Platform Capabilities

These new Talent Experience platform capabilities are designed to:

  • help you to attract the best Talent
  • accelerate your Talent asset’s onboarding and growth
  • enable your Talent assets to collaborate to help achieve your business goals

The Talent Experience Capabilities help smart businesses find the right talent at the right time and exceed industry benchmarks by:

  • reducing Time-To-Hire
  • reducing Cost-To-Hire
  • reducing Time-To-Market

Once smart businesses understand why Talent Experience Platform are so beneficial, the next step is to understand …

WHAT Talent Experience Capabilities To Deploy

Talent Experience Platform provides smart businesses with important Talent Engagement & Empowerment Experience capabilities.

The Talent Engagement and Empowerment capability can be further broken down into key second order capabilities of:

  • Digital Talent Management capabilities to strategize the appropriate culture and aligned policies to create a strong brand that helps you to attract, onboard and grow your Talent Assets
  • Digital Talent Self-Service capabilities to provide for your Talent’s onboarding & growth through self service Information, Knowledge and Learning systems
  • Digital Talent Insights capabilities for actionable decision making that help your Talent to support business Strategies and Outcomes

These Talent Experience Platform capabilities allow smart businesses to:

  • Create Superior Employer Brand & Candidate Experiences by connecting their recruiters to the right candidate pools through LinkedIn and ATS integrations, dynamic job postings and branded career portal
  • Agile Configurable Collaboration Experiences by creating role specific highly configurable hiring processes (instead of the traditional one complicated process fits all), collaboratively integrate the Candidates, Recruiter, Interview Team and Hiring Manager that reduce Time-To-Hire and Cost-To-Hire
  • Dynamic Assessments and Insights through engaging candidate interactions that allow creation of long term strategies, candidate pipelines and reduces the chances of ghosting

In the process of helping accelerate the hiring, onboarding and learning, the Talent Engagement and Empowerment Experience Capabilities increase the potential for revenue growth opportunities through:

  • accelerated product innovation with an engaged talent force
  • engaging customer experiences with an empowered talent force
  • optimized operational efficiencies and reduced OpEx with automated HR processes, compliance, analytics and alignment with strategic initiatives

This is what smart businesses are now rapidly deploying for Talent Experience Capabilities – and in the process creating a competitive edge.

3 Actionable steps to Strategize, Assess and Plan your Talent Experience Capabilities

Now that we have discussed the 3 key Talent Experience Capabilities, let’s discuss how to create a proactive action plan to deploy them to help you grow your business.

Our successful Talent SnapStart © methodology recommends this 3 step approach :

  1. Strategize Desired-state Talent Experience capabilities aligned with your vision for Business Growth
  2. Assess Current-state maturity of your present day Talent Experience capabilities
  3. Plan SnapStart Approach and Roadmap that allows you to stop bleeding – and create an actionable plan to deploy your robust Talent Experience Platform with specific capabilities fine-tuned for and aligned with the needs of your business growth

The insight that we learnt above from Cheshire the cat; helps us first strategize the desired-state (where we want to go) and assess our current-state (where we currently are). That allows us to plan what roads to take.

In this article, we have discussed What Talent Experience Capabilities smart businesses are quickly deploying to gain competitive advantage in the marketplace. Now the key question is – will you?

If you need more help; please feel free to contact me: ravi@tranzforms.com. I will be happy to understand your specific business needs and share my experiences to help you succeed.

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2019 Trends: WHY Smart Businesses are using Talent as a Competitive Advantage

WHY Talent Experience Platforms?

In the last couple of years, businesses like yours have been experiencing steep challenges with Talent Hiring & Retention.

Earlier, for some months, Gallup polls have been consistently reporting on “U.S. Small-Business Owners’ Optimism Reaches New Heights” and its latest report confirms “Americans Becoming More Pessimistic About the Economy ”.

However one thing remains constant, Hiring is still the second most important challenge for small businesses (18%). This challenge has to be seen in the light of the record low unemployment numbers (3.9 percent in December 2018). It is important to understand how the Talent shortage and businesses’ inaction regarding a Talent Experience Strategy and Platform is crippling their growth.

Businesses are currently experiencing significant headwinds

The top 3 challenges that small businesses are experiencing are: (source: Gallup Report and other research)

  • Government Policies (24%): Volatility in the marketplace due to Trade war, China Economy, Fed Rate Hikes and more
  • Economy & Disruption in Industries (15%): as the Digital Transformation plays out in Manufacturing & Retail, Finance, Health and other industries
  • Talent Shortage (18%): record low Unemployment, Gig Economy, Ghosting, Inability to attract and retain talent, and workplace flexibility

All of these factors are hurting businesses, but have you noticed the common thread? Yes, People Talent!

  • Talented people not only make the Government, they help make important policies and decisions
  • Industries don’t transform by themselves – it is talented people that transform businesses that eventually transform Industries
  • And yes – Talent is predominantly about a business’ key asset – its People

Not only are businesses missing out on key Talent that provide them the differentiating edge over Process and Technology; they are acutely missing competitive advantageous capabilities of Talent Experience Platform. As, smart businesses are realizing this and are now quickly deploying modern Talent Experience Platforms.

WHY smart businesses are deploying modern Talent Experience Platform

While the shortage of Talent and the associated struggle of recruiters to find the right candidates is leading to:

  • increased Time-To-Hire
  • increased Cost-To-Hire
  • increased Time-To-Market and resultant loss of revenue opportunities

Even more costly and frustrating are the challenges of:

  • lack of smooth flow of information
  • lack of agile collaboration between the main actors: Hiring Manager, Recruiter, Interviewing team and the Candidate resulting in poor Employer Brand rating, Ghosting and lengthened onboarding time
  • loss of talent candidates to competitors

Thus, these Talent related challenges are directly impacting the business – especially the open / unfilled Talent positions that result in lost revenue opportunities from:

  • delayed product innovation
  • impersonal customer experiences and
  • sub-optimal operational efficiencies

This is why smart businesses are now rapidly adopting Talent Experience Platforms as these platforms provide the businesses with important Employee Engagement and Employee Empowerment capabilities to work around the above challenges – and creating a competitive edge.

The Benefits of Talent Experience Platforms

The Talent Experience Platforms are allowing the smart businesses to:

  • Create Superior Employer Brand & Candidate Experiences by connecting their recruiters to the right candidate pools through LinkedIn and ATS integrations, dynamic job postings and branded career portal
  • Agile Configurable Collaboration Experiences by creating role specific highly configurable hiring processes (instead of the traditional one complicated process fits all), collaboratively integrate the Candidates, Recruiter, Interview Team and Hiring Manager that reduce Time-To-Hire and Cost-To-Hire
  • Dynamic Assessments and Insights through engaging candidate interactions that allow creation of long term strategies, candidate pipelines and reduces the chances of ghosting

Now Imagine ..

.. a Next-Gen Talent Experience Platform for your business

A New Talent Experience Platform for your business that :

  • helps you to attract the best Talent
  • accelerates Talent onboarding and their growth
  • enables your Talent assets to collaborate to help achieve your business goals

.. so you can stay focused on what you do the best – to succeed and grow your business!

3 Actionable Steps for you to assess the State-Of-Talent Experience at your business

Ask yourself these 3 questions:

  1. Candidate Experience: Are you providing an engaging Talent experience to the candidates that accelerates the process, reduces ghosting and reduces costs?
  2. Recruiter & Hiring Manager Experience: Are you providing Agile Configurable Collaboration experiences between the Candidates, Recruiters, Interviewers and Hiring Manager to create a frictionless Talent experience for all?
  3. Talent Strategy & Culture: Are your business leaders looking for a Talent Experience platform that helps develop a Talent Experience strategy and an aligned organizational culture?

If you answered NO to any of the above questions, there is a good chance your business would benefit from a modern Talent Experience Platform! This is why smart business are quickly retooling themselves to gain competitive advantage in the marketplace. Now the key question is – will you ?

If you need more help; please feel free to contact me: ravi@tranzforms.com. I will be happy to understand your specific business needs and share my experiences to help you succeed.