The experts have laid out a great roadmap for HR managers
It’s the time of year where employees are most likely to leave their jobs. Turnover is costly- in fact, each employee that leaves can cost a company up to 33% of that employee’s annual salary. This can be a challenge for HR managers, but there’s light at the end of the tunnel. Along with filling these vacant positions, you have more candidates than at any other time of the year. A good talent acquisition strategy will take both these factors into account.
Though New Year provides opportunity for talent acquisition, HR managers may feel too fatigued from virtual meetings and post-holiday lag to know where to start. Additionally, one out of two expect their recruiting budget to decrease. So where do you begin?
The experts have laid out a great roadmap for HR managers. Here are 6 Ted Talks to inspire your talent acquisition strategy in 2021.
1. What I Learned from 32 Grueling Interviews: Be the Company Talent Wants to Work For
“I was rejected on the basis of how I described myself. How did they know and decide who I was in just two lines?”
Over time it’s easy to forget how difficult and soul-crushing the job market can be. Ashwini Mrinal Bhagat wasn’t always part of State Street India’s Global Human Resources team. In fact, she had to endure 32 job interviews just to start on her HR management journey. Some of them are shocking- rejected for wearing a green dress, denied for not speaking in front of 10 people, even asked to clean an attic with a bucket of cleaning supplies. This talk gives great insight into how persistent candidates need to be, as well as showing how companies are squandering resources by rejecting talent for nonsensical reasons.
It’s an uncomfortable truth, but HR managers have jobs, so often do not understand how demoralising the job-seeking process can be for others. Job candidates face scores of job applications, hours spent revising a CV each job application, often ridiculous or irrelevant interview questions, and even ghosting after interviews. The most effective way for HR managers to get the best talent is to understand what it’s like for talent. Empathy knocks away the bad hiring practices that plague the industry. Get a bad reputation, and over time it will be difficult for you to acquire good talent. Get a reputation for kindness, empathy and dignity, and over time you’ll have your pick of talent.
2. How We Can Use the Hiring Process to Bring Out the Best in People: Find Their Potential
“A traditional job interview is basically a high-pressure, one-sided interrogation almost guaranteed to cause significant psychological strain.”
Traditional interviews can demoralise candidates and prevent an employer from recognising a candidate’s potential. But finding the leaders of the future is about their potential, not their past or current achievements. Psychologist and Organisational Consultant Gil Winch explains how to find and tap into that potential by using his own company CY as an example. More than half their thriving employees are severely disabled or have anxiety and social issues- issues that in the traditional working world would have excluded them.
Help your talent find their potential and they’ll love you for it. But judging employees by how they perform at their worst (ie a high-pressure job interview) will not give HR Managers the best indications of how well an employee can work. Consider Winch’s “reverse screening process” as an option- to assess potential, see how they work at their best. This includes the HR manager acting as a host rather than an interrogator at interviews, choosing an calming interview environment, asking candidates about their passions and hobbies first, and offering each candidate three lifelines.
3. How Diversity Makes Teams More Innovative: Know How to Find the Best Team of Talent
“While moving up the ladder working as a management consultant across Europe and the US, I started to realize how often I was the only woman in the room and how homogenous leadership still is.”
Diversity is a hot topic, but it’s got a lot to offer the modern, forward-thinking business. Business Adviser Rocio Lorenzo had spotted a connection between diversity and innovation, and so set up a study with the Technical University of Munich. Despite the team’s own scepticism about the link between the two, the findings clearly demonstrated that “companies that are more diverse are more innovative, and that companies that are more innovative have more diverse leadership.” And it wasn’t just innovation of ideas, but product delivery and target goals. But there are qualifications, especially with gender diversity- the jump in innovation revenue comes only after leadership is over 20% women.
To stay ahead of the competition, innovation must reflect what’s truly going on in the world. That’s why the workforce should reflect the same. And it’s not just about special networking events for underrepresented groups. HR Managers have a fantastic role to play in increasing their company’s diversity through talent acquisition. Loranzo details two big steps you can take. The first is to make diversity a priority in who you hire. The second is to prioritise diversity in who you develop and promote. Quite simply, if your talent brings a variety of life experience, they will bring a richness in ideas.