Employers of choice attract and retain the best talent and maintain a positive, productive culture. These are certainly goals of all organizations as they strive to succeed in the current labor market. To understand where your organization stands when it comes to being an employer of choice, take a hard and honest look at your organization's culture.
In our newly launched podcast, select radIO, we talk about exactly what makes an employer of choice, why it's important, and what you can do to be an employer of choice. It's not an easy feat, and it won't happen overnight, but the benefits of being a sought-after employer will go further than just a good reputation. Here are three ways being an employer of choice will help your organization succeed.
The value of being strategic is critical to strong talent management programs. Any organization looking to develop an effective talent strategy should first consider establishing a robust competency model to serve as the common thread for all talent management initiatives. As an assessment provider, we often work with clients to implement multi-level assessment (MLA) solutions. Competency models, when executed effectively, help obtain the alignment, sponsorship, and standardization needed for these programs to succeed. More times than not, these solutions can be used for a range of positions within an organization from entry level all the way to executive level. As one would expect, the skills, behaviors, traits, and competencies needed for success progress from one level to the next. Using competency models can bring many advantages to talent management and talent acquisition teams as well as an organization as a whole.
Overall employee turnover, early turnover, time to fill, quality of hire, candidate experience, cost per hire, time till promotion, engagement rating, absenteeism, training spent per employee, diversity/EEOC, healthcare cost per employee, hiring manager satisfaction, selection ratio...these are just some of the metrics to be tracked in the world of Human Resources.
When you're an employer of choice, job candidates are eager to work for you. Given the opportunity, candidates will choose to work for your organization over others. Your top talent is staying with your organization rather than moving to another. With the unemployment rate so low in today’s job market, it is now more important than ever to be an employer of choice. Job applicants have more options. You want candidates and your top talent to see your organization as their number one option for employment.
There is more to a job than just winning. A great example of a leader who came to that realization is David Blatt. In January of 2016, Blatt was coaching the Cleveland Cavaliers basketball team of the NBA. In the middle of the season, while his team was leading the Eastern Conference with an impressive record of 30-11 (30 wins and 11 losses), he was fired. The general manager, David Griffin, explained that the separation was due to a lack of fit. A coach who performs at the highest level and is successful based on, arguably, the most important objective metric in professional sports (wins), can still lose his job. Maybe winning isn’t everything after all.
With the end of the year fast approaching, annual performance reviews may be looming in your not-so-distant future. Whether you’re providing reviews or receiving them, it’s typically a stressful time for all involved. Giving feedback is a delicate process on its own, but the performance appraisal process typically doubles as a time to make pay and promotion decisions as well. In order to make this a productive endeavor, I’d like to offer my absolute best piece of advice on your approach to performance reviews:
All leaders are not necessarily managers, but all managers should be leaders. In fact, we depend on supervisors and managers to lead the largest employee population in its goal to fulfill the organizational mission. Unfortunately, many of us know that most managers are not great leaders.
The Affordable Care Act has survived its second Supreme Court challenge and it looks like it’s here to stay. So what does healthcare reform mean for talent acquisition professionals? Actually, even if the Supreme Court had ruled against the ACA, or if conservatives in Congress were somehow successful in repealing it, many of the changes that constitute “healthcare reform” as we know it, would not be affected. Many of the changes to how our facilities function, and how care is provided, and paid for, were already underway before the ACA and would continue without it.