Recruiting & Retaining Top Talent

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Recruiting & Retaining Top Talent Sponsored By:

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As the economy improves, many organizations that have delayed hiring will find themselves in a significant catch-up mode. Even as manufacturers look to expand hiring to meet production and growth needs in an improving economy, there will be a lot of competition to recruit and retain young talent.

Transcript of Recruiting & Retaining Top Talent

Page 1: Recruiting & Retaining Top Talent

Recruiting & Retaining Top Talent

Sponsored By:

Page 2: Recruiting & Retaining Top Talent

Today’s Webcast Sponsors

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• Chuck Parke, University of Tennessee

• Bob Vavra,

Content Manager and Moderator, Plant Engineering

Speakers

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Workforce Development StudyAugust 2013

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Q: Do you believe manufacturing is seen as a positive career choice in the U.S.? (n=222)Q: Do you believe your manufacturing plant is seen in a positive light in your community? (n=222)

Views on manufacturingOver half (57%) of the respondents do not believe manufacturing is seen as a positive career choice in the U.S., while 85% believe their manufacturing plant is seen as positive light in the community.

No57%

Yes43%

Positive career choice

Yes85%

No15%

Positive light in community

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Q: How does your plant interact with your community? (n=222)

Interacting with the communityOver half (55%) of the respondents reported that their plant is an active member of the Chamber of Commerce within the community, while 42% reported that their plant sponsors youth sports and community events.

0%10%20%30%40%50%60% 55%

42%

24%16%

23%

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Q: What would improve manufacturing's image as a career choice? (n=209)

Improving manufacturing as a career choiceChanging the media’s view (30%), education (28%), and higher pay/benefits (25%) were the top factors as reported by respondents that would improve manufacturing’s image as a career choice.

30% Change media's view

28% Education

25% Higher pay/benefits

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Q: Is there a skilled workforce shortage in your plant? (n=222)Q: What percentage of the jobs in your plant are currently unfilled? (n=131)

Workforce shortage and unfilled jobsFifty-nine percent of respondents reported that there is a skilled workforce shortage in their plant. Of those respondents, 78% reported that less than 10% of the jobs are currently unfilled.

Yes59%

No41%

Workforce shortage

Less than 5%; 39

5 to 10%; 39

10 to 15%; 16

More than 15%; 6

Unfilled jobs

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Q: What steps have you taken to address this issue? (n=131)Q: Where do you think you need the most help in addressing the skilled worker shortage? (n=131)

Steps to address workforce shortageSixty-three percent of respondents reported that they recruit online to address the workforce shortage, while 54% outreach to community colleges. Of those respondents, 43% reported that they need the most help from high schools and community colleges to address the skilled worker shortage.

Other

Outreach to military veterans

Working with other manufacturers in our region

Outreach to high schools

Outreach to universities

Outreach to community colleges

Online recruitment

0% 10% 20% 30% 40% 50% 60% 70%

22%

21%

21%

22%

33%

54%

63%

From high schools and community col-

leges44%

I don't feel I'll get ad-equate help; I need to

solve this problem myself32%

From my regional

economic develop-

ment group17%

From the federal gov-ernment

3%

From my state government5%

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Recruitment challengesMore than three-fourths (78%) of respondents reported that lack of needed skills from applicants is a challenge to recruitment of new workers, while 33% reported the lack of applicants as a challenge.

0%

20%

40%

60%

80%78%

33%

16%9%

17%

Q: What are the challenges to recruitment of new workers? (n=222)

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PROVEN. RESULTS. FASTER.

Recruiting & Retaining Top

Talent

Charles A. ParkeUniversity of Tennessee

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Pending Crisis• Many organizations are woefully

unprepared to meet the human resource needs in an improving economy– Salaried– Skilled hourly– Unskilled hourly

http://TheCenter.utk.edu

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Pending Crisis

Contributing Factors• Most organizations have been in a hiring freeze for at

least the last 5 years• Due to the collapse of the stock market, many baby

boomers have delayed retiring• Co-op and intern programs were drastically reduced or

eliminated• Hourly training programs reduced or eliminated• Succession planning has been put on the back burner• HR departments reduced or hiring function outsourcedhttp://TheCenter.utk.edu

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Pending Crisis

What’s Next?• Many organizations now have over 50% of their

workforce eligible to retire• Most organizations are completely unprepared to retain

“tribal knowledge”• Skill sets of younger employees inadequate to meet the

needs for tomorrow’s manufacturing/technical jobs• Human Resource organizations are inadequately staffed

to meet upcoming requirements

http://TheCenter.utk.edu

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Pending Crisis

What’s the Impact?• The job market for young talent is going to

become very competitive– Salaried– Skilled hourly– Unskilled/Semi-skilled hourly

• Recruiting and retention will become significant challenges

http://TheCenter.utk.edu

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Recruiting Strategies

Salaried:• Entry level to 2-3 years service

– Co-op/Intern programs– University/Community College relationships– Junior Military Conferences– Social Media– Internal and External Network Referrals

http://TheCenter.utk.edu

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Recruiting Strategies

Skilled Hourly:• Entry level

– Technical Schools– Military– Job Fairs– Social Media– Network Referrals

http://TheCenter.utk.edu

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Recruiting Mitigation Strategies

Unskilled/Semi-skilled Hourly:• Job Fairs (minimal temp to hire)• Social Media• High School Recruiting• Earn/Learn Programs• Referral Programs• Pre-hire training programs

http://TheCenter.utk.edu

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Technical Expertise and Learning Capacity

• Recruit new talent with Moore’s Law in mind– Computing power roughly doubles every 18-24

months

• Young talent in your organization will have to be significantly more technically savvy

• Organizations must hire for their future levels of technology – not current ones

http://TheCenter.utk.edu

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Retention Concerns

• Other companies will be aggressively pursuing your best, young talent

• Treat your Millennials like Gen X and Baby Boomers at your own peril

http://TheCenter.utk.edu

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Retention Strategies

Salaried:• Mentoring programs• Active coaching• Career planning• Succession planning• Manage expectations• Foster social network at work• Opportunities to make a difference in and out of the

workplacehttp://TheCenter.utk.edu

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Retention Strategies

Skilled Hourly:• Technical training (including multi skills)• Pay for performance AND skills• Progression opportunities outside of leadership track• Mentor programs• Support of National Guard and Reserve

commitments• Relevance

http://TheCenter.utk.edu

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Retention Strategies

Unskilled/Semi-skilled:• Off line training programs

– Work hardening– Environment conditioning– Work pace conditioning

• “Friend at Work” programs• Engagement• Relevancehttp://TheCenter.utk.edu

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Other Points to Consider

• Bridge strategy– Retired Subject Matter Experts (part time)– Knowledge Capture Process

• Human Resource Department– Skills– Capacity

http://TheCenter.utk.edu

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Final Thoughts

• The past 5 years have been the worst economically for most of us in our lifetime

• The economy is rebounding (quickly)• Do not let a lack of talent dampen your

organizations performance• The hiring/retention game is different and the

competition will be intense• Develop a recruiting/retention strategy for young

talent and execute it

http://TheCenter.utk.edu

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PROVEN. RESULTS. FASTER.

Thank You!

Charles A. ParkeUniversity of Tennessee

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• Chuck Parke, University of Tennessee

• Bob Vavra,

Content Manager and Moderator, Plant Engineering

Speakers

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Thanks to Today’s Webcast Sponsors

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Recruiting & Retaining Top Talent

Sponsored By: