Time is a key reason for adopting an ëeí approach to sourcing talent (attraction, screening; assessment); the vast savings in HR time and, perhaps more importantly, the speed to hire.
It has long been felt that those who act quickly harvest the most suitable talent whilst others are just thinking about it. Just how fundamental this is to organisational success is clearly demonstrated in ëPeople; The Phoney Warí, an in-depth study into the war for talent in the work place published by SHL based on research carried out by EP-Saratoga.
The results indicate that there is a huge difference in the performance of companies surveyed across a series of metrics. In general, the research found that organisations with a higher Human Investment Ratio also had:
- Shorter time to accept job offers
- Higher job offer acceptance rate
- More training hours per manager
- Larger training functions
- Lower resignation rates
Roger Austin, SHL business relationship director said ìThe research clearly demonstrates the major financial gain that can be made from proactive people processes, a gain so significant no organisation intent upon satisfying its stakeholders and creating real wealth can afford to ignoreî.
(The study objectively took a series of business measures and related them to people processes to establish whether there was a correlation between organisationsí recruitment and retention process and ìtop-lineî performance measures. The study covered 1,250 large organisations in Europe and the UK in six key business sectors; chemicals, engineering/manufacturing, finance, retail/leisure, services and IT/telecommunications).
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Vast savings in Human Resources time - 10/2001
Faster hiring for superior organisational performance