Building a culture of excellence depends on recruiting and retaining the right people. How do companies attract, hire, and retain the best employees? HR departments and recruiters use a variety of tools, techniques, and systems to engage with the brightest prospects. Of course, the methods companies use to select employees are evolving rapidly given the extraordinary advances in today’s HR technology. What are some of the most interesting trends unfolding?
Video: Video is emerging as a powerful instrument in the HR arsenal. Video interviews are an ideal tool in today’s globally interconnected world. But video interviews are just one way companies can harness the power of this revolutionary medium. Videos that give prospective employees a sense of the company’s culture can help attract promising candidates before the application process begins. For Millennials and other tech-savvy generations, video is the primary channel for learning and sharing information. As a result, video is increasingly important to any company’s employee engagement efforts.
Better Metrics: There is an old business adage: “You can’t manage what you can’t measure.” No doubt, gathering and quantifying information can help companies gauge if their efforts are yielding results. However, most companies and businesses are drowning in information. If you spend all your time gathering and analyzing information, but not acting on it, then you are essentially “boiling the ocean,” to borrow an industry parlance phrase. So, it is imperative to settle for a limited number of metrics that you can actually analyze and then act on.
Workplace Engagement: It is time to think of the HR function as a workplace engagement system. Fostering an esprit de corps is an essential task for any HR department. Accomplishing this goal entails tapping the wisdom of HR professionals and making this wisdom available to prospects, employees, and other stakeholders by weaving multiple points of contact and engagement into the organization. Video and collaborative platforms can be an integral part of the workplace engagement process.
75% of HR leaders recognize that talent analytics are vital to the success of their organizations. However, less than half of those respondents had a talent analytics plan up and working. Another statistic is telling: According to Josh Bersin in a recent HR Forecast 2014 article, “only 14% of the companies we studied are even starting to analyze people-related data in a statistical way and correlate it to business outcomes.”
Talent Analytics depends on good data. But even more than this, TA depends on knowing what to measure. Many companies track dozens of meaningless metrics. The most important metrics are those tied to specific organizational goals and those that help a company and its employees improve their performance. HR departments and organizations need to think carefully about the metrics that matter to their companies. What metrics can help HR departments evaluate their talent acquisition and retention goals? What methods, tools, and technologies are improving the workplace engagement process? What metrics lead to the highest quality recruits? Building and sustaining a culture of excellence depends on many factors. The organizations that can identify those factors, and act on them, will be the ones that thrive.