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THE DASHBOARD INTELLIGENCE SERIES
Talent Pipeline:Ensuring the Right Flow of Talent for Your Organization
For HR
https://hrboss.com
WHAT
According to a 2014 report by the Bureau US Labour Statistics, the average tenure of an employee lasts only four and a half years. Factor in rocketing costs associated with staff turnover and the amount of effort involved in hiring quality staff (especially among younger workers), and it becomes clear: the challenge of building a Talent pipeline is real.
Michael Parish Dudell, a millennial workplace expert, echoes the realities of the new workforce, “Our professional fickleness is lasting well into the 30s and beyond….younger workers prioritize work that feels meaningful over salary, which may be one cause for high turnover”… a definite red flag for organisations as millennials are expected to make up 75% of the workforce in 2025.
An organisation’s ‘Talent Pipeline’ is a clear indicator of its current and future capabilities. A lack of effective management in ensuring the right flow of Talent not only hinders growth and revenues, it also impedes competitiveness and innovation. With 82% of talent acquisition leaders saying that they keep in touch with potential candidates even when not hiring, organisations around the world seems sold on the power of pipelining.
Talent Pipeline:
An organisation’s ongoing need to have a pool of Talent that is readily available to fill positions at all levels of management as well as other key positions as the company grows.
Source: Bersin by Deloitte
Employee Tenure is no longer what it used to be.
Definition
2The Dashboard Intelligence Series Talent Pipeline: Ensuring the right flow of talent for your organization.
WHY
In Hay Group’s Next Generation HR report, Human Resource leaders cited that ‘developing future leaders’ will remain top priority for at least the next five years – proof that a sustainable Talent pipeline really does matter.
However, many organisations are still adopting a reactive hiring strategy and as a result, are struggling to fill key positions in their organisations quickly. Like a fire escape route in your home, you should already have a plan of action when problems arise… a lack of preparation could possibly kill you, or in this case, significantly impact your bottom-line.
Here are some compelling reasons why you need to start building a strategic Talent pipeline today:
1. The War for Talent is not a mythIn Southeast Asia, 58% of companies identified competition as their biggest obstacle to attracting talent. [Source: Winning the war for Talent]
In the long-term, ensuring a steady stream of qualified Talent will be the competitive differentiator between businesses which are successful and those that are not.
2. Hiring pipelines are slowingTime to Fill average now at 27 days [Source: Dice-DFH Vacancy Duration Measure]
3. Tapping in alternative Talent Pools to fill jobsMore than 60 % of both large and small companies have reported to actively reaching out to passive talent for hard-to-fill positions [Source: Winning the war for Talent]
4. Closing candidates with a higher starting salary65% of employers plan to offer higher starting salaries for new employees [Source: Break Out of Your Recruitment Rut]
5. Increased investment in Employment Branding 56% are spending more to raise general awareness of their company to establish a strong employer brand. [Source: 3 talent trends that will shape the industry in 2015]
3The Dashboard Intelligence Series Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
HOW
It takes time and resources to develop a Talent pipeline but being thoughtful about your talent gaps can help the business develop and maintain a pool of Talent to turn to in the future.
•Do you know the movements into, out of and within your organisation?
•How many hires have you made internally versus externally?
•What is the percentage of your Top Performers leaving? Too high, too many?
•Have you got people ready to be promoted to a higher level? If so, who?
•How many employees have you hired this year? How many have left?
Talent pipeline dashboards can give you the know-how to build Talent pipeline when it comes to executing, monitoring, and refining pipeline strategies…ensuring that you’re always on top of your recruitment needs so that you can be more proactive in your hiring decisions.
Ask yourself this: Do you have the right tools you need to help ensure that your organisation has the right flow of Talent to support and grow your business?
4The Dashboard Intelligence Series Talent Pipeline: Ensuring the right flow of talent for your organization.
Get a quick snapshot of Hires, Moves and Exits in your organisation.
5Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
Green arrows show how many people you’ve hired at each job levelGrey circles indicate the percentage change of employees at each job level
Red arrows show how many people have left their positions at each job levelBlue arrows indicate the numbers and movement of people between each job level
Numbers at the bottom left of each level give the total number of employees at the start of the specified time period Numbers at the bottom right of each level give the total number of employees at the end of the specified time period
Drill down by Locations, Departments and/or specific time periods you wish to track. Hover over the percentages to get the numbers in real-time.
6Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
Data fields Field Type Source Systems
* Employee ID Text HRIS
* Job Level ID Text HRIS
* Job Level Text HRIS
* Job Level Order Number HRIS
* Start Date Date HRIS
* End Date Date HRIS
* Voluntary Exit Number (1 or 0 only)
HRIS 1 represents that employee exited voluntarily and 0 represents otherwise
* Lateral Move Date Date HRIS
* Promotion Date Date HRIS
* Overall Performance Rating
Number Performance systems or performance appraisals
Typically an aggregate rating that is given to the employee by his supervisors and/or peers on a regular basis with regards to his work performance.
* Location Code Text HRIS
* Location Name Text HRIS
* Department Code Text HRIS
* Department Name Text HRIS
Ready to see these dashboards in action with your data?
How many data fields? 14 How many mandatory data fields? 14How many systems? 2
What is required:
Data marked with * are required data.
EmployeeBoss comes with pre-built hiring & vacancy dashboards ready to use from day 1…so all you need to do is import all the required data.
Here’s what you need to do:
7Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
With EmployeeBoss, you can stay one step ahead so you can keep your top talent in your organisation. Treating retention as an on-going priority enables you to focus on proactive measures to sustain long term employee commitment, rather than on scramble to work out reactive attempts to salvage surprise resignations.
Used and loved by leading organizations around the world.
Don’t just take our word for it.
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Best Big Data SolutionStevie Awards 2015
ASIA-PACIFIC
International Tech company of The Year
IBAs2014GLOBAL
Best Innovation 2015Best HR Service Providers
Greater China
“The workforce planning capabilities inside EmployeeBoss help us keep
ahead of the competition. It’s a secret weapon that sets us apart
from the competition.”
Christina H. Yasui, Head of Global HR, Adways Inc.
8Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
Features of EmployeeBoss include: Dynamic Org Charts | Geo-spatial Maps | Reports & Dashboards | Workforce Planning | Recruitment & Vacancy Management
To learn more about the full spectrum of business problems EmployeeBoss help organizations around the world solve, email [email protected] to schedule a live demo.
EmployeeBoss is the first big data analytics solution dedicated to solving problems related to the workforce. Taking business leaders from mess to success in just 5 easy steps: Import, Associate, Visualise, Plan and Execute, EmployeeBoss delivers workforce insights to help business leaders make informed workforce decisions without any hassles or high-cost.
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9Talent Pipeline: Ensuring the right flow of talent for your organization.The Dashboard Intelligence Series
