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Talent mismatch - don't let it cost your business!
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Posted in Employers, Recruitment on Apr 15, 2014 by Richard Hayden
Businesses from all the major economies, including the UK, are reported to be losing billions of pounds through recruitment errors.
PwC and LinkedIn released the study, Adapt to Survive, last week. It looks at a profile of 277 million professionals and 2,600 employers across 11 global markets. It attributes each market with a talent adaptability score, based on the country's ability to cope with future shifts in the market and measured by employees' transferrable skills.
The UK ranks second for talent adaptability, but still loses over £1.2 billion through employees not willing or able to adapt to new sectors. It fares relatively well because of a large base of skilled workers, especially in London.
PwC partner and global head of HR services practice Michael Rendell said CEOs rewarding people who are willing to adapt is key to improving workplace mobility. "This includes using analytics to identify skills that are central to the business strategy now and in the future," he said. "Our research shows that a better talent fit between employer and employee could save UK business £270 million in recruitment costs, increase productivity and begin to close the skills gap."
Here at Key Appointments, we have devised a list of tips to ensure that you only employ the right candidates for your business.
Tip 1 – Consider whether you want to employ someone who could just do the job, or someone who will be a top performer
Tip 2 – You get what you pay for – have you carried out a salary survey recently to benchmark your offerings?
Tip 3 – Remember top performers come in all shapes and sizes from sales to customer service and within management
Tip 4 – Remain competitive in the marketplace - attract individuals who will grow your business in the right way
Tip 5 – Don’t make your interview process too long to ensure you don’t miss out on top quality candidates
Tip 6 – Try not to make an emotional decision in a first interview. A proven track record should be determined first
Tip 7 – Have you discussed what your employees want long term? Discuss and set career goals to keep staff motivated
Tip 8 – Have you thought about being open to interviewing well recommended candidates when you are not hiring?
Tip 9 - Do your employees know that you value them? It doesn’t take long to say thank you for hard work and can mean more than you think!
Tip 10 - Be creative about how you will develop and train your employees to improve retention
If you would like to discuss your recruitment needs, and find out how we can help you find the right person for your business, please call us on 0844 504 4666
- See more at: http://www.hrmagazine.co.uk/hro/news/1143342/talent-mismatch-costs-uk-companies-gbp1bn#sthash.xzVD3BFa.dpuf
