According to a recent Deloitte Global Human Capital Trends Survey, 90 percent of business leaders in North America and 92 percent in Latin America rate “Organizational Design” as their top human capital-related priority. The results are strikingly consistent across industries.
This organizational redesign trend is driven by new business models that require organizational flexibility such as the
- Rise of virtual workers and mobile project teams
- Departure from functional departments to more product- and customer-centered structures
- Need for Gig Economy contingent, contract and part-time workers for special projects
Not surprisingly the talent needs and challenges related to these new business models have also changed. For example, smaller, more mobile project teams require more nimble, globally savvy leaders. Yet while 89 percent of company executives view leadership as an important or very important issue, more than half (56 percent) don’t believe their companies are prepared to meet their leadership needs.i HR and Talent Acquisition leaders must implement programs to identify and cultivate versatile leaders earlier in their careers, particularly Millennial leaders. This begins by hiring people with the right potential.
Likewise companies are shifting focus to diversity and inclusion, of which the benefits are well documented. Achieving a more gender- balanced workplace creates efficiency savings, enhances employee engagement, boosts productivity, meets the diverse needs of customer and suppliers and improves brand reputation.ii
For example, according to a study by Dr. Roy Adler of Pepperdine, companies with the strongest record of promoting women to the executive suite outperform overall industry-average profits by 34 percent (when calculated for revenue).iii
What if you could identify and build talent pools to meet each of these different needs? And what if you could predict when these candidates will begin a new job search? The implications for improved hiring efficiency and HR “readiness” are significant.
This is what the practice of predictive talent pooling provides: A hiring approach that blends strategic sourcing, talent pooling and predictive data tools to hire better people in less time and at less expense while meeting many of the newly designed workforce demands.
“Hudson’s use of predictive technology has allowed us to map out and monitor our talent pools. We now start a search knowing roughly how many people are qualified and available. It is the first time we have had access to relevant, timely supply- side data, and it has dramatically improved our performance.”
Mike Wolford, Sourcing Manager – Hudson RPO
Want to learn more about what Predictive Talent Pooling can do for you? Contact Hudson RPO
i. “Global Human Capital Trends 2016: The new organization, different by design,” Deloitte University Press
ii. “Food for Thought Fact Sheet — The Business case for Gender Diversity,” Business in the Community, 2012
iii. Roy D. Adler, PhD, “Women in the Executive Suite Correlate to High Profits,” Pepperdine University, 2001