Posts Tagged: CBI Way


Understanding the Value of Workforce Productivity Metrics

November 23rd, 2016

While there are numerous ways to measure employee performance from a human resources standpoint, there is one metric that is most valued by company executives, particularly CFOs. This metric provides data that generally translates into dollars. It is simple to calculate and can allows comparison to other publicly listed firms in the same industry. It is one of the most effective way to measure both innovation and productivity in employees.

What is it?

This highly valued metric is revenue per employee (RPE). To calculate your company’s RPE, simply divide the total revenue of the company by the total number of employees. This calculation focuses on the value of the output of the workforce. Its relevancy is due to one of the largest expenses for most companies; salary and benefits of their employees.

Rear view of the business lady who is looking for the new business ideas. Blue growing arrow as a concept of successful business. Business icons are drawn on the concrete wall.

Why is it so effective?

It is an effective tool for measuring a workforce because companies are looking for the highest revenue per employee that they can get. Higher RPE translates to higher productivity levels and more effective use of the company’s available resources. By comparing RPE numbers over the years, businesses can also effectively evaluate their human resources team. Additionally, it can be a tool to assess how your company is doing compared to other similar companies. The top companies in any industry generally produce a higher revenue per employee number.

How can you increase your RPE?

Industry leaders tend to have the best RPEs. How do they do it? A lot depends on the industry, considering there is no one-size-fits-all solution to increasing RPE in the workforce. However, one rising trend throughout different industries is employee engagement. Employees that are engaged in their work are 38% more likely to have above average workplace productivity, per Workplace Research Foundation. This typically translates into higher service and customer satisfaction, increased sales and profit, and higher shareholder returns.

Another way to increase RPE is continued effort to hire highly skilled and qualified candidates. It has always been a challenge for HR departments to sort through piles of resumes and applications in search of the right candidate. However, many have found hiring solutions by utilizing a professional recruitment partner. Recruitment partners provide resources and training to help companies identify and hire highly skilled executives and employees that will help, not hinder, the company’s RPE.

Although there are numerous metrics that provide human resources departments with valuable information about workforce productivity, the one that could be considered most valued outside the HR department is revenue per employee. When it comes to workforce productivity, how well does your company measure up?

Developing Future Leaders with Talent Pools

November 16th, 2016

With thousands of baby boomers entering retirement each day, organizations are understandably looking for ways to retain and develop promising talent with future leadership potential. Along with the mass exodus of a vital part of the workforce, a potential wealth of knowledge is poised to leave along with them—and companies must find a way to transfer that knowledge to new and up-and-coming employees.

An effective talent strategy is necessary to keep an organization’s hiring processes running smoothly. Whether you are planning to replace an employee with a new hire or promote within the company, certain roles and responsibilities are better served when groomed from within the organization. This is especially true if the company can’t find qualified candidates to fill a vacancy or when the need for company-specific knowledge outweighs the value of bringing in a more qualified outside hire.

Internal development strategies that satisfy both the need to identify and notify applicable succession candidates can be challenging for even the most innovative talent acquisition teams. Talent pools can provide an effective solution when an organization isn’t in a position to single out any one employee as a future leader, or perhaps wants to build a talent pipeline outside of the business to be ready for future needs.

What is the Value of a Talent Pool?Kids in a Swimming Pool, children for summer season. Kid inflatable pool, child swimming in the pool, Vector Illustration

Talent pools can be comprised of high-potential employees who are being conditioned to take on more responsibilities and higher-level projects within the company, or talent identified from other companies who would be potential high value hires in the future. High-performing employees are fully engaged employees who embrace the corporate culture and constantly strive to perform their duties at a top-level.  These employees might also be considered high-potential employees who have expressed an interest in advancing within the organization along with possessing certain competencies and values that the organization desires in their leaders.

Talent pools help organizations prepare for succession by allowing the organization to develop a talent group made up of multiple promising individuals. If an organization is unsure about where or when it will have the need for future leaders, a talent pool affords the option of keeping a group of high-performing, high-potential employees ready for deployment should the need arise, or reach out to identified talent to field future interest in your company.

From an employee’s perspective, being part of a talent pool can be a reassuring step toward career advancement. Employees at this level know they are valued, they feel confident that they have a future with the company, and they are rewarded with the knowledge that their employer is consciously investing in their future leadership potential.

If your organization isn’t ready to start pinning down succession prospects, implementing a talent pool can be a great way to develop multiple skills in diverse groups of promising employees. While some staffing vacancies can be effectively filled by recruiting new talent, identified outside of the company, the future of the company’s leadership can also be successful by investing in high-performing and high-potential internal talent for future promotion.

How the Gig Economy Is Transforming The Workplace

November 9th, 2016

The gig economy has become one of the most persistent, diverse, and influential forces on our current marketplace. Its has spread far and wide and has transformed the market in a variety of ways that may surprise you.

Employment OptionsSet of hands with tools for design. Architect designer for project drawings. Architect hands with pencil and ruler. Architects workplace. Technical project. Have Exploded

The biggest way that the gig economy is transforming the workplace is the way it has rendered full-time jobs less prevalent. While there are still plenty of high-quality life-long jobs available to those who want them, the gig economy has broken apart the necessity for this kind of job and helped expand the employment possibilities for a large number of people.

For example, those who possess specialized skills are reaping huge benefits from the gig market. They are moving from job-to-job in a way that helps him or her define their own career, maximize their profits, and create a more independent lifestyle.

However, even low-skilled workers, such as those who lack higher education and no repair skills, have used the gig economy to change their lives for the better. For example, landscaping work has helped many create a sustainable and engaging career which would have been impossible in a full-time-job-oriented mind.

The Exponential Growth Of The Gig Economy

The U.S. Bureau of Labor Statistics has reported that the gig economy has continued to expand at an almost exponential level. For example, in 2005, about seven percent of all workers were independent contractors or those who embraced the gig economy. They expect these numbers show huge growth when they survey again in 2017: perhaps as high as 15-20%.

More data gathered between 2003 and 2013 found that all industrial sectors had non-employer business growth i.e. gig jobs. Nearly one million new gig businesses or jobs were formed in that 10-year period, by far the largest of any other sector. Areas that experienced high growth included art and design, computer repair, information technology, construction, media, and transportation.

Why has the gig economy grown at such a high rate? It allows consumers to more easily match up with workers they respect. It also provides workers with a sense of freedom and independence that a singular full-time job cannot offer. While there are disadvantages (such as the dangers of inconsistent work and no employer-provided benefit packages), for many people the advantages outweigh the inconsistencies.

Employment Options Have Exploded For Stay-At-Home Moms

One interesting component of the gig marketplace is that it has helped stay-at-home moms break into a busy marketplace. Among the 43 percent of highly qualified women with children are choosing to raise their children at home, a growing number are performing gig jobs, such as online writing, transcription, and even tutoring, as a way of contributing to the household income.

In one study, it was revealed that the jobs like this not only help a stay-at-home mom contribute to the home financially, but provides her with engaging and enjoyable projects to keep a healthy work-life balance. It’s hard not to see that the gig economy is slowly and subtly transforming the marketplace in a variety of ways. Don’t be surprised to see the gig marketplace continue to grow in 2017.

Urban Office Locations Attracting IT Talent

November 2nd, 2016

 

Undoubtedly, there is a high demand for IT talent in the technology job market. Companies, both large and small, are competing for this relatively small pool of skilled IT workers. Therefore, many companies are doing anything in their power to attract IT talent. While many companies are choosing to offer impressive starting salaries and benefits to hired IT workers, other companies are deciding to take things a step further.

To be more competitive in attracting IT talent, companies are beginning to move their HQ or offices to the city.

Location has long been one of the most important factors when it comes to real estate. However, location has City skyline panorama illustration with businessman watching. City skyline corporate world. Skyline of a city for business background. Cityscape skyline with skyscrapers. City skyline banking symbol.now become a point of concern for businesses hiring IT workers. Young IT candidates who have extensive knowledge in the latest technologies prefer to live and work in urban settings. These workers prefer to take public transportation to work rather than drive to office locations in the suburbs. Accordingly, employers who desire workers versed in the newest skills are making changes to appeal to those who prefer to dwell in the city. Some companies have opted to transition from suburban to urban offices while other companies have private shuttles between headquarters and major cities.

A great example is the major city of Boston. According to Search Fund Accelerator, employment in Boston rose by 54,000 employees over the past 11 months. Just this year, General Electric moved its headquarters to Boston after being in Fairfield, CT since 1974. 

While more condensed and expensive spaces downtown may lead to some challenges for a business. Younger generation IT candidates are flocking to the city and aren’t motivated to make the move out to the suburbs. Urban cities offer short commutes, public transportation, and a significant opportunity for a ‘work/play’ lifestyle. 

Companies trying to attract the cream of the crop in the technology job market are taking advantage of urban office locations, following the talent pool to the sharp contrast of urban city skylines. 

Do you know help hiring IT talent? Give us a call at (877) 746-8450.

4 Reasons to Partner with Talent Experts to End 2016

October 26th, 2016

Each company has individual challenges and needs when it comes to meeting its talent recruitment objectives. When you hire a professional recruitment partner, these experts can take a close look at your the recruitment goals and work to build a customized talent sourcing plan and strategy. So how exactly can a recruiting partner help to close out 2016?

Market Knowledge

Talent Acquisition partner will know the candidate market just like a broker knows the stock market. This includes having a solid grasp of who the best talent is, knowing what their salary expectations will be, and understanding career expectations for a specific niche skill set. A candidate with a fantastic background doesn’t not sit around applying to job postings. These candidates are highly sought after, and usually well-known to a recruiting firm. Some might reach out to the best recruiters and get their name out there. This results in talent acquisition professionals having a consistent pulse on pools of talent that may be a fit for your openings.ID-100249468

Increase the Talent Pool

When businesses decide to try recruiting on their own, usually, they will only be able to reach a small portion of the talent pool. When companies put out ads, they will typically be receiving responses from people currently in the job market, receiving plenty of unqualified resumes. However a good recruiter, knows the best talent out there and will proactively reach out to passive candidates to to see if they have any interest. Don’t limit your talent reach by simply posting the job for active candidates to apply.

Candidate Screening

Screening candidates is a learned skill. Recruitment partners will take the vetting process a step further, and speak the multiple people who have not only supervised them but worked side by side with the potential candidate. Thorough screening and vetting is imperative to make sure the candidate is a good fit for the organization and reduces the likelihood of quick turnover.

Save Time

When managers and team leaders are tasked to lead  the hiring process, it takes away from time spent on tasks that will grow the business. If you’re without a Talent Acquisition team, a manager who is responsible for a key part of the organization. is spending their time looking through resumes and coordinating interviews. Recruiters are experts at weeding through applicants and making sure that only the best talent is put before the hiring manager. Not only will the recruiter screen the candidates for a skill set, they are also making sure they will be a good fit for your culture and goals for organizational growth.

Do you need help hiring, screening, sourcing, or just some recruitment strategy consulting? Give us a call at (877) 746-8450

How Smaller Businesses Can Attract Quality IT Talent

October 19th, 2016

Many companies experience difficulty attracting qualified information technology candidates. Specifically, smaller businesses face even more of a challenge. A rapid growth in the technology space has led to incredible value for even the smallest of businesses to invest in IT software and processes. In turn, IT talent has become increasingly in demand. From offering sky-high salaries and generous benefits, businesses are pulling out all of the stops to try to attract technology talent.Programmer at computer desk working on program design. Software concept. Vector illustration flat design. Man working at desktop computer laptop. Coding web technology. Development applications.

So what can small businesses do to beat their bigger competition for this niche pool?

Look internally and locally. While not all businesses have a robust IT department, it may be worth identifying any talent already in the company who would be able to step up. In addition, hiring from within cuts down on expenses related to training a new employee on business processes. Try partnering with local schools or programs to attract computer science majors, offering an exciting opportunity before the future candidate hits the open job market.

If your recruitment team has identified external candidates, its important to make quick decisions. Do not leave candidates dangling, he or she knows the demand for their skill set. IT candidates likely already have other offers and any delays give other companies an opportunity make the first move. High level professionals wont often sit around waiting for a decision.

Also, think outside of the box when attempting to attract IT candidates. While salary is important, smaller businesses can compete by marketing the opportunity for development and training. Tech talent values a work/life balance, and the flexibility to work remotely if needed. Perhaps offer to pay for a certification of interest to the candidate, as IT professionals also value the opportunity to work on exciting projects and have meanin

gful and purposeful work. Its crucial to focus on where the company is headed, and what future investments in technology are coming. What’s the 3 year plan?

Small businesses must play to their strengths to attract and retain Information Technology candidates. What can you offer that is more valuable than the soaring salaries offered by large organizations? A work/life balance, ongoing training, and true feeling of value to the company may set you apart when recruiting IT talent.

 

8 Candidate Traits to Thoroughly Vet

September 14th, 2016

As a recruiter, it is your responsibility to recruit quality employees, whether for your client, or internally. Depending on the size of your company or client, you likely get plenty of resumes each day, or identify plenty of potential talent. So how can you tell early on in the process if a candidate is possibly no the best fit?

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#1 Long Gaps Between Jobs

With the unemployment rate what it has been these days, it is very uncommon to find long gaps between jobs on a candidate’s resume. While it is common to have a gap or two at one point in their career, if you have an applicant with long gaps between jobs, there should be a good reason. Childbirth, education, and being self-employed are valid reasons, however; if there is no explanation for the gap, it is a red flag.

#2 The Applicant is Unemployed

The first thing you would need to do is find out why the person is no longer employed. If the applicant was fired or they quit, they may not be the best person to recruit., but its worth vetting. Dive into their thinking and reasoning to make your decision. If they have been unemployed for a long period of time and out of the workforce, their jobs skills may not be as fresh as other applicants.

#3 Job Hopping

Going from job to job could mean that the candidate cannot commit to a job. When things get tough, the applicant doesn’t stay. Hiring this type of employee can waste the company’s time and money to hire and train someone to replace the individual.

#4 Poor Attention to Detail

One of the biggest red flags when going through resumes is spelling errors. If the candidate couldn’t take the time to proofread their resume, chances are, they won’t be dedicated to their role after hiring. Someone who took the time to thoughtfully and accurately put together their experience indicates more of a quality candidate.

#5 Lack of Professionalism

Professionalism is a must when it comes to recruiting employees. You should look for professionalism in their resume, the first phone call, and the interview. If an applicant shows a lack of professionalism, its crucial to dissect their true personality during interviews.

#6 Social Profile

A potential employee’s social profile can say a lot about them. You can learn a lot about a person by looking at their social profile. If the employee had posted any derogatory or disparaging comments about a job, employer, or former employer, it is a huge red flag. You don’t want to recruit a person who has no problem posting this type of negativity for the world to see.

#7 Discrepancies

If you are reviewing a potential candidate’s resume and LinkedIn profile and find discrepancies, it could be cause for concern. Either they are lying on their resume, they are forgetful when it comes to dates, or they are just plain sloppy. No matter the reason, not the best sign for quality talent.

#8 The Applicant is Overqualified

Some recruiters might find that an overqualified applicant to be a dream come true, however, it really isn’t. If the applicant is overqualified, it could be he or she is looking for a job to hold them over until they can find a better job. Also, they could get bored, and want to move on quickly. Take time to thoroughly vet the reasons for their interest.

Need help identifying quality talent? We can help! Give us a call at (302) 266-0860 

3 Thoughts for RPO in 2016

January 20th, 2016

Guest blog spot by Outside-In® Team Member Alex Patton

RPO 2016Another year has passed, and the labor market has continued to be strong as we kick off 2016. There were 2.7 million jobs added in 2015. And we ended the year steadily with the lowest unemployment since 2008; dropping 0.7% from January to December, according to the Bureau of Labor Statistics. So what can you expect for RPO providers engaging and recruiting talent in 2016?

Talent Pipelining:  With increased hiring comes increased pressure to find the right talent, and find it quickly. This is especially true with 5.4 million open jobs (BLS). RPO Providers will be focused on talent pipeline services in 2016 to help provide clients talent as fast as possible and helping reduce time to fill.

Technology: Technology, our old friend from our 2015 RPO Thoughts. Yet again, technology is a sticking point for this year’s recruiting trends. With the fast paced nature of RPO engagements, technology can streamline processes, saving each partner time and energy. Look for providers that offer real time reporting. Wouldn’t it be nice to have access to your provider’s activity on your hard-to-fill job on a real-time basis? With today’s technology, you shouldn’t have to wait for the next status update from your RPO partner.

Big Data & Analytics: I’m sure you’ve read or heard the words “big data” when looking at trends or predictions. But it’s here, and it’s been here for longer than you might think, driving growth in some very mainstream industries. Data and analytics experts are highly sought talent. Don’t get left behind by partnering with an RPO provider that lacks experience sourcing and engaging these experts successfully.

Looking for recruiting advice in 2016?

Working on recruitment planning? Making changes to your recruitment process? Schedule an info session to discuss your talent acquisition goals and receive recruitment advice from our team – at no cost to you.
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How to catch the attention of A+ talent that ignores you

November 25th, 2015
Guest blog spot by Outside-In® Team Member Alex Patton

As a sourcer of talent, when I find a rock star candidate, sometimes it feels like I’ve won the lottery. That’s when I remember that finding the candidate is only half of the sourcing battle. Next you have to get them to engage. Without engagement, it’s pretty hard to call finding that perfect fit, a win at all.

But, I’m here to tell you that all is not lost. While you may have tried every method you could think of six months ago, there’s certainly an opportunity to resurface and breakthrough the wall of engagement.

Here’s a few strategies to revisit those perfect candidates who seem to have ignored your emails or LinkedIn connection request:

allstar candidate talent sourcingTiming: When you think back to how you tried to get your star candidate’s attention, you remember a desperate attempt of countless emails, LinkedIn messages and voice mails. But every time you worked up the energy to try just one more reach out, you still never captured their attention. Or at least that’s how it felt, and then you made up some reason to rationalize the situation so you could move on. But now that some time has passed, why not try again? Perhaps they actually did see your messages but timing was really bad.  Think of all the events in our lives that we try to juggle. It’s a new day, a new month, or a new year, give it another go!

Woo them: Yes, woo. While you may have told them before, don’t be afraid to reiterate how impressed you are with his or her background. Share that you wanted to try to reach out again, noting your previous attempt. Re-introduce how incredible the opportunity for them would be considering their expertise, and even in the (X) amount of time since first reaching out, he or she is still your ideal candidate.

Show your expertise, ask for theirs: You’re the recruiting and research expert. Explain your understanding of the job market and where the candidate’s particular industry is going. Remember, when working with passive candidates, you need them more than they need you. Maybe he or she is not interested, but would offer their ideas or suggestions for you. They are a ‘rock star’ in their field after all — which means they have deep industry knowledge and likely have some good referrals.

So, when you’re in the valley of desperation during your sourcing journey, don’t lose all hope. There are any number of ways to go back after a “lost” candidate. And in reality, what’s the worst that could happen?

Great sourcing isn’t about just building lists of names or grabbing resumes wherever you can. Great sourcing is about identifying and engaging business-changing talent and passive candidates.

Sourcing Needles in a Haystack – My Journey to Find Arjun

October 28th, 2015

Guest blog spot by Outside-In® Team Member Alex Patton

Sourcing Needle in a haystackSometimes sourcing talent can become frustrating. But great sourcing means breaking through to find that needle in a haystack. And every so often, breaking through means trying something simple or different, and just seeing where your sourcing journey takes you. This approach can be refreshing for a very hard to fill job, and as I experienced recently, ultimately rewarding.

I have been working on sourcing for a high level management consulting role in business analytics and strategy. This is a very hard to fill role and the other day I was beginning to feel like I’d never find another qualified candidate. What did I do? Instead of giving up, I went back to sourcing basics. I revisited the job description, pulled the most important keywords, and put together a boolean string that could be plugged into almost any source. Specifically, the three most significant keywords that I thought best represented my target. In this case, ‘business development, ‘advanced analytics’, and ‘electronics’ were my top choices.

With my keywords identified, I chose my favorite search engine (Google), and gave it a shot. There was no shortage of hits, of course. But to my surprise, much of what I saw was very relevant. Articles, publications, companies, and even a few random resumes. I dove right in, letting the web take me on a ride for about twenty minutes.

All of a sudden, in front of me was the needle. A resume. Not just any resume. Arjun’s resume. A name I hadn’t seen, nor experience I had identified anywhere else during my sourcing on LinkedIn, job boards, social media, company targets, and every other source you could imagine.

On my journey to find Arjun, I was reminded of a few things: Don’t be afraid to try new techniques, simplify your strategy, and sometimes, take a sourcing journey through the world wide web.

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