+ All Categories
Home > Career > Mapping the Value of Talent Acquisition

Mapping the Value of Talent Acquisition

Date post: 11-Aug-2014
Category:
Upload: the-talent-project
View: 1,801 times
Download: 1 times
Share this document with a friend
Description:
This ebook is making a case for a new kind of value mapping that centers around talent acquisition first and foremost.
9
JILLYAN FRENCH-VITET MAPPING THE VALUE OF TALENT AQUISITION
Transcript
Page 1: Mapping the Value of Talent Acquisition

Jillyan French-Vitet

Mapping the Value oF talent aquisition

Page 2: Mapping the Value of Talent Acquisition

introduction

2

About a year ago, I was participating in a

series of team meetings when I noticed

that one question kept resurfacing: “how

can we demonstrate the value of talent

acquisition?” While the discussion moved

to other topics, this question remained

unanswered.

Cost, quality and speed have underpinned

the value-proposition of the talent acquisition

function for many years. It has been defined

by metrics such as productivity, process

and channel efficiency, full/sub-cycle time

and the results of satisfaction surveys. Yet,

it has become clearer to me that ‘value’

in talent acquisition is no longer being

adequately communicated and translated to

our customer base. We need a new way to

demonstrate value beyond the walls of our

own function. We need to better articulate

how and why talent acquisition contributes

to the overall worth of the organizations

we work for.

Here, I make my case for a new kind of

value mapping that centers around talent

acquisition first and foremost. I aim to show

you why I believe that value mapping talent

acquisition can deliver better results, with

more focused associated costs and impactful

communication.

Page 3: Mapping the Value of Talent Acquisition

Value, at its most simple, is relative worth.

So, the first question we must ask ourselves

is, “how does my organization as a whole

depict its relative worth?”

For some organizations, relative worth

could be defined as shareholder value, or

competitive advantage, or even enterprise

value. Whichever principle or methodology

Value: a siMple deFinition

an organization subscribes to, generally they

regard their value as something that:

• issustainableoverthelongterm

• isreliantonallpartieswithina

company to achieve

• hascompetitiveadvantageasakeypillar

Based on this, talent acquisition should

consider its relative worth in the same light as

the organization.

the challenge, however, is to demonstrate

or measure the value of talent acquisition

at an organizational level without reducing

it to an administrative process or overhead.

this is where value mapping comes in.

3

Page 4: Mapping the Value of Talent Acquisition

one tool used to demonstrate and

visually chart the achievement of value is

a Value Map. In essence, this shows how an

organization intends to achieve its strategic

goals and create (or preserve) value. The

reason we use a visual map to do this is

because it is easier to generate common

understanding around one, simple and

concise diagram than it is around many pages

of text—as strategy documents tend to be.

Value Mapping

the goals set out in a value map

attempt to tie together the components

of shareholder/enterprise value and

competitive advantage. They map out the

stakeholders and processes for each—and

simplicity is key.

Ultimately, value mapping must not only

set out the critical actions and goals for

success, it must clearly communicate these to

ensure they become central to the decisions

that are made each and every day. It must

demonstrate a clear cause-effect relationship

that all the stakeholders can align their own

actions against.

articulating the value of talent acquisition

as a function, via a value map, goes

one step further than this to put talent

acquisition strategy at the center of the

business priorities and objectives.

4

Page 5: Mapping the Value of Talent Acquisition

We may know that talent acquisition is

a key contributor to an organization’s

overall strategy by nature of its function:

attracting talent. Most organizations

would agree that their people are:

• theirgreatestdifferentiator

• atthecoreofcompetitiveadvantage

• centraltotheachievementofkey

business goals

• theexternal‘face’tothemarketre:

candidate and customer experience

talent acquisition at the center oF Value

Yet talent acquisition is rarely measured in a

way that reflects this.

‘Traditional’ talent acquisition metrics are

often those such as channel efficiency, full/

sub-cycle time, etc. While these metrics are

good measures of productivity and efficiency,

they say nothing of the value that the function

adds to the organization. in fact, these

measures do not typically link directly to

business strategy at all—and herein lies the

central issue with the ways we currently

communicate the value of talent acquisition

within an organization.

In building a Talent Value Map, talent

acquisition initiatives are prioritized and

aligned to organizational strategy. The

Map also enables the entire business to

visualize how talent decisions translate into

organizational ‘relative worth’.

When building the map, two issues

must be considered in tandem:

• valuepreservation(howwekeepwhat

we already have/continue to run the

business well)

• valuecreation(whatweneedtodo

differently/how we build a sustainable

competitive advantage)

5

Page 6: Mapping the Value of Talent Acquisition

A talent value map is a clear and simple way of visualizing all the strategic inputs that a company may require to reach its objectives. In the above sample,

the Map was created starting with organizational goals (i.e. right to left) yet delivery will start with the People and Skills (i.e. left to right).

Talent Acquisition Team

Technology The ability to build a flexible hiring model

Talent acquisition expertise

Use customer management principles/techniques

Apply analytics Demonstrate thought leadership

Improve processes/quality

Deliver the talent strategy

Innovate

Attract quality hires Show delivery excellence

Implement smart cost controls

Improve the candidate experience

Be compliant Communicate well Build a diverse talent pipeline

Offer acceptance/decline rates

New hire turnover % Key vacancy rates/lost $$ contribution

New hire $$ impact Customer satisfaction Adherence to D&I strategy

Applicant quality/source quality

Talent acquisition leadership

Business leaders/hirers

Internal/external talent

Profitability Greater accountability

Improved customer service

Increased diversity An employer of choice

A dynamic business portfolio

organizational Values/coMpetencies underscore our proFessional behaViors and culture

here’s hoW the Map Might look

the people and skills

hoW We Will do it

iMpact stakeholders

What We Will do

Metrics and Measures

alignMent to organizational goals

6

Page 7: Mapping the Value of Talent Acquisition

Which Metrics?

In creating a Talent Value Map, the metrics

chosen will depend upon how strategic and

future-focused the talent acquisition strategy

is within the organization. Whichever metrics

are chosen, it’s important to consider those

that go beyond ‘departmental successes

and challenges’. While it is often relevant

to demonstrate the efficiency of the talent

acquisition team, efficiency alone is not

enough to demonstrate value.

The map should include metrics that have

also enhanced alignment and focus of

the TA team to the long-term goals of the

organization. The triumvirate of Cost, Quality,

Speed is still alive and relevant in talent

acquisition, but we must demonstrate more

value than this.

When considering which metrics to use in

your talent value map, consider how the

map will help you to answer this question:

“at the end of the year, how will we know

if we’ve been successful?” As an example,

Dr. John Sullivan’s recent ERE article, “High-

impact Strategic Recruiting Metrics for

WOWing Executives”, a number of different

measures and metrics are cited which target

business-impact. Whichever metrics are

targeted as measurements within a Map,

each should relate back to demonstrating

value in a relevant and impactful way to the

stakeholders. used this way, measurements

can be leveraged for both operational and

strategic discussions i.e. ‘what is working’

vs. ‘where are our value inhibitors’.

7

Page 8: Mapping the Value of Talent Acquisition

Value Mapping, as a concept, is not new

and applying it to talent acquisition is an

iterative process—it must evolve with the

organization and the market context. As we

continue to apply this method, it is evident

that every business will have a vastly different

map that must be responsive to its own goals

and challenges and communicate value in

line with its own culture and messaging.

Talent acquisition isn’t just part of the way we

‘create value’ for customers, shareholders and

partners; rather, as a function, it is an integral

creator and contributor to an organization.

conclusion

Without the right talent, at the right time and

at the right cost, engaged in the right way,

any organization will lack competitiveness,

agility and the ability to innovate. This is

why organizations should seek a better way

to capture, align and articulate the value of

talent acquisition.

if you would like to discuss the mapping

process further, or explore how talent

value mapping might work for your talent

acquisition business, please get in touch

with me: [email protected].

i welcome your feedback and insights.

8

Page 9: Mapping the Value of Talent Acquisition

eXit

This information may not be published, broadcast, sold, or otherwise distributed without prior written permission from the authorized party. All trademarks are property of their respective owners. An Equal Opportunity Employer. © 2013 Kelly Services, Inc.

about the author

JIllyAn FrEnch-VITET is a Global Director, Workforce Strategy Support and

Talent resourcing for the Kelly Outsourcing and consulting Group. Ms French-

Vitet’s background in recruitment spans over a decade, including retained search,

in-house corporate recruitment and recruitment process outsourcing. her market

expertise stretches across Technology, Financial Services, retail, consulting,

Telecom, Engineering and Manufacturing. Ms French-Vitet’s recruitment skills cover full-lifecycle

hiring, including sourcing, screening, process re-engineering, technology, data analysis and quality;

she has designed, built and executed programs within different countries, from entry to executive-

level hiring, with varying team sizes and geographies. Ms French-Vitet obtained her Bachelor

degree from Skidmore college in Saratoga Springs, ny and her Master degree in International

Business from the Ecole nationale des Ponts et chaussées in Paris, France.

about kelly serVices®

Kelly Services, Inc. (nASDAQ: KElyA, KElyB) is a leader in providing workforce solutions.

Kelly® offers a comprehensive array of outsourcing and consulting services as well as world-class

staffing on a temporary, temporary-to-hire, and direct-hire basis. Serving clients around the

globe, Kelly provides employment to more than 560,000 employees annually. revenue in 2012

was $5.5 billion. Visit kellyservices.com and connect with us on Facebook, linkedIn, and Twitter.

Download The Talent Project, a free iPad app by Kelly Services.


Recommended