DON’T BE A VICTIM OF THE TALENT SHORTAGE FOUR...

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Transcript of DON’T BE A VICTIM OF THE TALENT SHORTAGE FOUR...

  • 94% of employees report voluntarily leaving employers for push reasons where the motivators were based on dissatisfaction or a desire to leave versus pull reasons of the attraction or availability of an outside opportunity.

    FOUR STEPS TO FINDING & FOSTERING

    FOUR STEPS TO FINDING & FOSTERING

    P Super TalentSuper Talent

    P

    STEP 1 CANDIDATE

    PROFILE

    Create candidate profiles based on your top talent assets.

    CANDIDATE PROFILE

    STEP 2

    RECRUITMENTRECRUITMENT

    RETENTIONRETENTION

    GET DEFENSIVE: MOST TURNOVER IS AVOIDABLEGET DEFENSIVE: MOST TURNOVER IS AVOIDABLE

    1.5xThe cost of losing an average employee is 1.5x their burdened salary. 3.0xThe cost of losing top performers is 3x more than losing an average performer.

    For every top performer that leaves, an average of 2 other top performers follow.

    of employees at companies with inadequate training programs plan to leave within a year.41% of employees at companies who provide excellent training and professional development programs.12%

    vs.

    STEP 3 PAY-FOR-PERFORMANCE PAY-FOR-PERFORMANCE

    ABANDON YOUR WIDE NET RECRUITING STRATEGIES AND GET PERSONAL

    ABANDON YOUR WIDE NET RECRUITING STRATEGIES AND GET PERSONAL

    GET GROWING.GET GROWING.

    Provide development goals with training opportunities.

    Linking performance and compensation can increase retention by up to 27%.

    Implement a fair and consistent compensation plan where performance directly impacts reward.

    STEP 4 SECRET WEAPONSECRET WEAPON PAYCOM TALENT MANAGEMENTPAYCOM TALENT MANAGEMENTP

    Manage and measure employee performance with a formalized

    review process.

    APPROACH

    FOCUS ON A “WE FIND YOU”

    Win over your top candidates with well-researched

    personalized pitches that reflect your employer brand.

    The top reasons employees leave are... Lack of trust in senior leadership.

    Insu�cient pay.

    Unhealthy/undesirable culture.

    Lack of concern for development.

    Only 5% of firms use the “We Find You” sourcing model, yet it consistently outperforms “You Find Us” approaches.

    DON’T BE A VICTIM OF THE TALENT SHORTAGEDON’T BE A VICTIM OF THE TALENT SHORTAGE

    In a metropolis near you, 49 percent of employers are struggling to fill mission-critical positions today while facing a big loss of baby boomer senior talent to retirement. To

    avoid the skills shortages threatening your business, fortify your strategies now for attracting, retaining and developing the top talent critical to your future success.

    Other Talent Management vendors may claim to be the hero you need to win the war for talent but only Paycom offers full pay data integration with its

    Talent Management solution. As part of a robust, full-service Payroll and HR application, Paycom provides online Performance Management, Compensation

    Budgeting and automated Personnel Action Forms that streamline your processes. It’s the secret weapon technology to make you the hero in

    implementing the talent strategy needed to drive your business forward.

    Inspire maximum performance by aligning individual and organizational objectives.

    2XOrganizations with reward and talent management programs that support their business goals are more than twice as likely to be high-performing companies.

    SOURCES: ManpowerGroup’s 2012 Talent Shortage Survey. U.S. Department of Labor Ere.net, Dr. John Sullivan, “The Best Recruiting Strategy is the ‘We Find You’ Approach” Keepingthepeople.com Fokalfusion.com/losing-top-employees Giga Information Group American Society for Training and Development

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