|  |  | | CorDell & Company | | Human Capital Advisory Services |
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Finding and Acquiring Great Talent is today’s knowledge economy is necessary if you want to outperform your competitors. McKinsey & Company’s original “War for Talent” research found companies that excelled at talent management achieved total returns to shareholders that were 22 percentage points better than the average in their industry. Our own research shows those companies who excel at talent management are able to increase their total number of employees and operating cash flow per employee simultaneously, and they typically generate 31 percent more in operating cash flow per employee than their industry average.
The first step in any talent acquisition process should be to Define Your Requirements. Next, you should Identify Sources of the Talent You Require and prioritize those sources accordingly. The third step is Defining Your Value Proposition, a critical step if you want to get the attention of engaged, high performers, and one often skipped. Now you can move on to the fourth step, Candidate Sourcing, which should be guided by an understanding of all available channels to reach your target and each channels' historical level of success. Next, you have to Qualify the Candidates to ensure they are able to do the job, want to do the job, and can do the job in congruence with your organization’s work culture, while ideally providing candidates with an enjoyable recruitment process at the same time. Once qualified, your next step is to Make the Offer, but remember it is about more than just money. Finally you must Integrate Talent, another often overlooked task in talent acquisition.
If you would like to improve the results of your talent acquisition efforts, please contact us.
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