Talent Acquisition & Management: Recruit, Retain & Develop a Winning Workforce

Recruiting and employee development are core HR functions. When you and your colleagues can successfully find and keep the best-trained, most enthusiastic people for open positions, you make your company stronger for the future. When HR finds innovative ways to align strategy, people and processes, everybody wins. That's why it's vital for your organization's leaders to address talent acquisition and management.

In June 2004, the Harvard Business Review reported, "The skills and esprit of individuals and groups, the strategies, methods, processes, ideas and intellectual property that are the harvest of their thinking - separate winning from lagging companies." The challenge, of course, is how to build a sound strategy for the acquisition and management of a talented workforce.

Developing a winning strategy for employee acquisition and management can be easier than it sounds. Many people think of training, for instance, as the key to leveraging their human capital. Training is not the sole path to success, but it plays a strong role. Training benefits many areas simultaneously, including compensation, recruitment and retention. But recruiting, screening and comprehensive human capital management are important, too. This article will cover three key elements of a sound strategy for building a winning workforce —the recruiting process, background screening and talent acquisition/management technology.

1. Recruiting
Companies across North America are looking to make recruiting strategic, as opposed to reactive. They're moving away from print advertising as the Internet becomes a stronger presence in recruiting at all organizational levels, and many of them are encouraging participation of dedicated hiring managers. Skill testing and psychometric testing are becoming less of a novelty and companies are beginning to target passive candidates as a way to build the most successful workforce. Ceridian hears from HR professionals who seek measurements that can tie together all the components of recruiting - a "dashboard" that will provide meaningful metrics about not just the candidates, but about the entire recruiting process.

Ceridian is proud to offer recruiting solutions that help organizations improve quality of service to their customers, both internally and externally. Our solutions provide greater organization to the entire hiring process and standardize workflows. Ceridian's customers are particularly pleased with our recruiting solutions because they offer access to the latest technology and reduce cost per hire. All this makes it possible to automate administrative tasks, allowing recruiters to focus on top candidates. Look for recruiting solutions that are PIPEDA compliant. Also, make sure the solution you select lets you leverage the company Web site for automatic data entry and maximizing the candidate pool.

2. Background screening
Background screening including reference checks, credit checks, police reports and education/employment verification has come into its own. Why has business embraced background screens so enthusiastically? Take a look at the statistics:

  • The average cost of a bad hire is 30 percent of the new employee's first year of earnings (U.S. Department of Labor).
  • One in six violent crimes occurs in the workplace (U.S. Department of Justice).
  • Twenty five percent of all résumés and applications contain at least one fabrication (Society for Human Resources Management).
  • The average organization loses more than six percent of its annual revenue to fraud and abuse (Association of Certified Fraud Examiners).

Do you really know who you are hiring? Making a bad hiring decision can be detrimental to any company. But taking the proper precautions to protect your company is easy. Background screening solutions like Ceridian's Background Screening Tools will help protect your organization from making bad hiring decisions. You can request and access extensive background screening including criminal convictions searches, consumer credit reports, education verification and reference checking. It's a great way to move the process along and make sure your company is getting the best.

3. Develop your winning workforce with an Applicant Tracking System
Developing a winning strategy for talent acquisition and management can be easier than you imagined. When you can choose from a system that's modular, you'll only pay for what you need. When you automate recruiting and hiring, you'll decrease time spent on paperwork. You'll shorten the recruitment and hiring cycle, stay compliant with PIPEDA, and get higher-quality employees into your organization faster.

The right solutions can make a real difference. Andrea Eastman, VP Human Resources for Expert Travel Financial Insurance (ETFS), is proof positive. "The Ceridian online recruitment and applicant tracking solution has proven to increase the overall efficiency of the hiring process at ETFS. The customer service focus of the Ceridian staff is unmatched in its delivery and execution. In addition, our clients are recognizing the efficiency gains of our human resources department as their hiring needs are met in a more timely and efficient manner. This could not have been accomplished without the expertise and knowledge provided by the Ceridian staff as well as their superior product."

According to a 2003 Fact Brief from the Corporate Leadership Council, talent management systems will result in certain benefits:

  • Reduce administrative work.
  • Greater efficiency.
  • Increase employee role and developmental opportunities.
  • Greater internal customer satisfaction.
  • More comprehensive organizational assessment/analysis.
  • Stronger corporate culture.

But the real benefits come when integrated systems are put in place to optimize human capital. Organizations are complex entities, and in today's fast-paced environment the very act of managing a business can be fraught with chaos and confusion. Integrated solutions will always deliver the most business value. The benefit of talent management integration is that it allows the organization to effectively manage talent in terms of selection, development, performance and retention - and to intuitively produce a reduction in overall cost. If solutions are not fully integrated, these benefits will be diluted.

This article first appeared in Ceridian Canada’s e-newsletter, The Specialist, May 2006 issue.

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Ceridian delivers best-practice Human Resource solutions to help customers acquire the best talent, pay their staff accurately and on time, improve HR decision-making and reporting, and drive employee engagement and wellbeing. To learn more about our suite of HR solutions and how we can partner with your organization, click here or call us toll-free at 1-877-CERIDIAN.


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