By Debbie Bolla, Editor-in-Chief
As we gear up for the HRO Today Forum in May, there is definitely an air of excitement for the networking, knowledge sharing, and fun that will be had at our annual confab. I had the opportunity to get to know our outstanding lineup of 12 CHRO of the Year finalists when writing this month’s cover story, Making on Impact. The accomplishments of this dozen is impressive. The numbers speak for themselves:
• Engagement survey scores over 80 percent
• Between 30 and 40 percent of open positions filled internally
• Employee satisfaction in 90th percentile
• HR cost structure reduced by 30 percent
• Overall employee engagement 10 percent higher than the public sector average
This group is committed to making outstanding transformational efforts for their workforces and many of their initiatives are truly something to aspire to. Find out more on page 10.
One of the key metrics above—filling positions internally—seems to be gaining more and more traction.
As the job market opens up, a new report shows that now is the time for organizations to invest in their employees.
By Tim Low
Most companies are very concerned about attracting and retaining top performing employees finds the 2015 Compensation Best Practices Report (CBPR) from cloud compensation software provider Payscale. This creates serious questions about their ability to effectively compete in a rebounding economy. According to the report, the majority of companies (55 percent) added staff and realized greater profits in 2014, and most companies plan to grow in 2015 as well. However, these businesses will face more pressure than ever to attract and retain the right people.
In the five years following the great recession of 2008, doing more with less became a mantra for most American businesses, and news headlines such as TODAY.com’s Making Money, Not Hires were common. It’s hardly a secret the recession caused many employees to stay put in unsatisfying jobs rather than venture into a tough market.
Four ways to improve the hiring process through metrics.
By Jennifer Beck
As worldwide leaders continue to provide universal advice in business, organizations seem to ignore their idle statements—and I am not sure really why. Mark Zuckerberg, chairman and CEO of Facebook with a net worth of $36.5 billion, said during the Mobile World Congress in Barcelona, “I will only hire someone to work directly for me if I would work for that person.” It could be that maybe in corporate America we ignore such advice due to threat to the ego. But I do believe if we inserted Mark’s practice just one time going forward, we could make a big difference with people and business outcomes.
Another leader you may recognize—he is only the richest person on the planet with a net worth of $78.2 billion, cofounder of Bill and Melinda Gates Foundation, and founder Microsoft—is Bill Gates. In 2013, he penned an article for the Wall Street Journal, My Plan to Fix the World’s Biggest Problems.
Bringing in talent starts at pre-hire and ends—or rather, begins all again—at rehire
By Marcus Mossberger
In the human capital world, organizations often look to create workforce strategies that address everything from hire to retire. It is a sentiment that is well-meaning, but one that frankly does not account for newer tools, resources, and trends that are contributing to the experiences of baby boomers (as they begin their mass exodus) and Millennials (as they begin their ascent into leadership roles). According to Deloitte’s Millennial Survey, this group of workers, who are already emerging as leaders in technology and other industries, will comprise 75 percent of the global workforce by 2025. Understanding the characteristics and expectations of this and other generations, and how they fit with the cultural elements of your unique organization, should be the first point of emphasis as you develop your workforce strategy.
In order to get to know prospective employees better—meaning beyond how they represent themselves during the interview process—talent assessment tools have evolved to help organizations identify the behavioral DNA of current high- performing employees.
There’s increasing pressure for employees to make the right decisions when selecting healthcare plans. Technology interfaces can help.
By Sandy McCarthy
Today’s workforce is accustomed to managing work and life online through digital portals that extend from their desktops to their mobile platforms that provide unprecedented access and convenience. Organizations should deliver technology to match this new reality.
That means a high level of consumer-focused design and mobile-oriented functionality. It means providing a clear and personalized experience that employees want and expect. This is especially true for Millennials who are defining the modern workforce. It’s no longer enough to lead these employees to a static online site for retirement savings or healthcare enrollment, and then expect them to figure things out for themselves.
Instead, benefits platforms should have clear and engaging graphic interfaces, personalized decision- support, and financial calculation tools.
The benefits and challenges of a total workforce solution.
￼By Debbie Bolla
As organizations strive to succeed in today’s competitive workforce, talent officers, HR executives, and procurement managers all understand the need to be agile in order to achieve business goals. This means embracing all types of workers—full-time employees, contingent labor, independent contractors, and statement-of-work (SOW) consultants—and integrating them into talent programs. Non-permanent workers have the ability to fill key skills gaps while reducing costs and providing flexibility—and organizations are taking notice. Randstad Sourceright’s 2015 Talent Trends Report shows that 46 percent of respondents say they consider all types of workers when workforce planning and 69 percent say in order to maintain a competitive workforce over the next five to 10 years, HR leaders will need a larger portion of contingent workers than they have today.
“As the use of contingent labor becomes more strategic, and the value of contingent talent more critical, organizations are beginning to look at their workforces more holistically,” says Joan Davison, president of workforce solutions provider Staff Management | SMX.
A talent leader shares the top conversations managers should be having with employees.
By Kim Janson
Have you ever wondered how to develop employees to their fullest? From my experience, I have found that it can be achieved through five simple conversations.
High-performing employees have attributes that differentiate them from the rest—and managers can draw them out so employees excel and the overall organization performs at the highest possible level.
The majority of the work in the talent management space can be accounted for in five conversations between a manager and employee that focus on employee performance and development. They include:
The What You Need to Do Conversation
The How You Are Doing Conversation
The How You Did Conversation
The Money Conversation
The How You Can Grow Conversation
Senior executives can reap more success in delivering on organizational commitments if they make managers accountable for excelling at these five conversations.
We recognize 12 CHRO of the Year finalists for their leadership, vision, and willingness to transform HR.
By Debbie Bolla
For our second annual CHRO of the Year awards, HRO Today is recognizing those CHROs with the capabilities to adapt to a competitive business environment in order to deliver the insight needed for HR transformation. We understand the importance of CHROs who drive workforce initiatives through innovation with measurable excellence in employee engagement and retention to prove it.
We have 12 finalists selected from a roundup of incredible nominees. These CHROs are responsible for providing leadership to ensure talent acquisition and retention, business growth, and a culture that can lead in a global workforce.
The CHRO of the Year finalists will be evaluated across three dimensions to determine the winners:
The scope of the nominee’s impact on his/her organization/community
The extent to which the nominee drove this initiative
The individual reputational or professional risk taken by the nominee.
This month we preview our annual Chief HR Officer of the Year awards (see finalists on page 10). Modeled after our highly successful CEO program administered by sister publication Corporate Responsibility Magazine, it will feature a dozen finalists selected by our editorial team that is then sent to a panel of judges composed of prior winners. The process is overseen by myself in partnership with Dr. Peter Cappelli of the Center for Human Resources Studies at the Wharton School of the University of Pennsylvania. This is a peer-reviewed award for the annual winners. We received many more than 12 nominations so even being a finalist is an honor. The winners will be announced at our CHRO of the Year Dinner held May 4th at the Westin Hotel in Philadelphia in concert with our HRO Today Forum, North America.
There’s no doubt about it: Technology has changed the way HR manages the workforce. From attracting talent and onboarding new hires to compensating employees and recognizing accomplishments, tech platforms play a major role in the day-to-day activities of global organizations. But getting it right can be challenging. In fact, Deloitte’s 2014 Global Human Capital Trends report finds HR technology as a top HR trend with 68 percent of respondents naming it an urgent or important concern. The products in this roundup—which include our 2015 TekTonic Award finalists—are sure to help.