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The Onin Group | Blog
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your_competitors_can_teach_you_about_attracting_talent
31 Mar
5 Things Your Competitors Can Teach You About Attracting Talent 
In business, we’re taught to understand our competition in order to maximize our own performance and growth. Whether it’s for product placement, go-to-market strategies, financial comparisons or operational efficiencies, we have to know where we stand on the playing field against our competitors in order to make the right decisions and continuously improve. So why do functional areas like talent acquisition/recruitment seem to be reactionary and lacking insight into the market when competing for talent? Demonstrate your worth with data Opportunities are being missed for executives to view talent acquisition/recruitment leaders as deserving of a seat at the executive table. For the C-suite to perceive value in talent acquisition, recruitment leaders will need to consistently make a positive impact on the business. When HR and talent acquisition professionals come to the table with quantitative and qualitative data to demonstrate problem-solving solutions, they are treated like any other business unit and are given a seat at the table. The perception of value only occurs when the data tells a story that provides insight into what the market is doing, where it’s going and demonstrates an understanding of changes caused by variables, such as competition. This is the type of insight that will leverage strengths, capitalize on opportunities and get you noticed. So where do you find such insight into the market besides Talent Intelligence? Your competitors. Their behaviors will provide all the information needed to learn from and improve your organization's’ efforts. Here is what you can learn from your competition: First Impressions Matter First impressions matter in all walks of life, and it’s no different when a candidate looks at you or your competitor’s talent or employment brand. They will evaluate the culture by reviewing the messaging, what you stand for and what’s in it for them. As W. Craig Jelinek, CEO of Costco recently stated, “Culture isn’t everything. It’s the only thing.” Future employees want to connect with a brand, so your talent brand has to align with their needs to be relevant. Salesforce (previously ExactTarget before a recent acquisition) is a great example of defining what “Being Orange” means to potential employees. Over the last several years, the “Be Orange” employment brand strategy has dominated their competition by attracting the best talent in their local markets. Frequency of Impressions More is better when targeting the right talent pools with your brand. For instance, if your competitors are concentrating on the millennials that you want to hire, then find out where they spend their talent branding monies in relation to social media. If Facebook, LinkedIn, Twitter and other social media platforms are where your talent pools are hanging out, and your competitors are there and you are not, then you will lose. Their Interview Process If their interview process is clearly articulated or their process is shorter than yours, then your competitors will hire more and better people. Find out what they do through conversations with other candidates or employees who have worked there in the past or been through their process. Connecting When They’re Not Looking If your competitors are communicating with talent pools through Talent Pipelining strategies, then next time the talent is looking for a new role, whose brand will they remember first? Talent engagement also provides insight into push and pull factors that, over time, will help match to their needs when the time comes. Metrics There are the typical metrics that allow you to gauge how your competitors are doing against your strategy. But if you want to improve quality and take the gut out of hiring, find out what questions and interviewing models they use. Do they use case studies, panel interviews, situational questions, assessments, and/or behavioral based questions, and how do they measure quality? Gathering information to provide insight takes awareness and intentional actions to learn what exactly is going on in the talent market. Continuous improvement is the goal.
TO-ATTRACT-THE-BEST-TALENT,-FOCUS-ON-YOUR-EMPLOYER-BRANDTO-ATTRACT-THE_BEST_TALENT_FOCUS_ON_YOUR_EMPLOYER_BRAND-min
28 Mar
To Attract the Best Talent, Focus on Your Employer Brand
The millennial generation is well-known for switching between jobs more frequently than past generations. It seems they’re always looking for a better fit. As a recent Gallup report¹ puts it, “Millennials behave as consumers of workplaces, shopping around for the jobs that best align with their needs and life goals.”
The_Secret_to_recruiting_Your_Brand-min
06 Mar
The Secret to Recruiting: Your Brand

Some companies have short-circuited the system to acquire the best talent while most companies struggle. How? The answer is simple: brand development. ...

contingent_talent_strategy-min
06 Feb
CONTINGENT TALENT STRATEGY: TAKING A PAGE FROM FINANCE
In a world where 80% of the average company’s share price is created by that company’s intangible assets (brands, patents, relationships, processes, etc.), human capital and financial capital are connected at the hip. Companies need both to succeed: financial capital to place a business bet and human capital to win it. Given this symbiosis, what can we learn about human capital strategy from the more established practice of managing financial capital? HR needs to take a page from the finance handbook on capital structure. Financial capital is the economic lifeblood of an enterprise, but of course, this capital comes at a cost. Virtually all companies choose to meet their capital needs through a combination of selling equity shares and securing debt—a mix that optimizes the cost of capital but requires a continuous balancing act. Debt has advantages:  Interest cost is normally lower than what equity holders expect from dividends and capital gains.  Debtholders do not dilute equity voting rights.  Transaction and regulatory costs of debt are lower than the costs of equity. And it has disadvantages:  Interest and principal must be paid on an inflexible schedule that stresses cash flow.  Debtholder claims take precedence over equity in the event of a bankruptcy.  The interests of debtholders are not as aligned with the business as are those of equity holders. Well-managed companies often supplement their equity capital with debt to the tune of 25–30% (depending on their risk tolerance), balancing the advantages and disadvantages. Finance managers bring high value to their companies through this well-honed strategy. In human capital terms, the advantages and disadvantages of choosing between regular employees and contingent talent nearly parallel those of choosing between equity and debt. For example, although contingent talent has an immediate cash cost that may exceed that of an equivalent employee, employment is normally more expensive in the longer term (long-term incentives, development, etc.). Also, contingent talent is more flexible in terms of gearing capacity up or down, but regular employees are more engaged because they have a greater stake in the business. The reasons for managing the mix of financial capital center on ensuring resource capacity and flexibility, optimizing the cost of capital, and providing access to the broad capital markets. Companies have the same needs with respect to human capital, and for the most part, these go unmanaged. It is time for HR to take the reins and implement strategies that optimize the resource companies count on them for: human capital.