Greetings friends! It is my pleasure to be your editor for the month of May, where we delve into the depths of Talent Advisory. Grab a cuppa, put your feet up and I’ll do my best to provide a diverse and engaging selection of content for you to enjoy. Firstly, a bit about me. My…
The Internal Talent Awards (ITAs) is pleased to announce that nominations are now open for our Gala Event which will take place on September 7th, 2023, at Dolton House in Hyde Park, Sydney. The awards celebrate excellence and innovation in the internal talent industry and are open to internal talent teams of any size and…
Talent Advisory is not new. It emerged in 2010 when Talent Management became popular and technology started to integrate recruitment, performance management and learning and development. This officially launched Internal Mobility as another significant way of accessing talent as opposed to external recruitment. In 2023 the focus on purely external recruitment has significantly reduced, with…
Talent Advisory is not new. It emerged in 2010 when Talent Management became popular and technology started to integrate recruitment, performance management and learning and development. This officially launched Internal Mobility as another significant way of accessing talent as opposed to external recruitment.
In 2023 the focus on purely external recruitment has significantly reduced, with many Talent Functions measuring Internal Mobility as a percentage of External Recruitment. Some organisations are quoting Internal Mobility rates in the range of 20%-50% (between 1 out of 5 and 1 out of 2 placements). When these figures have been quoted I have observed some people take a deep breath.
The fact is that Internal Mobility is increasing as a percentage of external recruitment – oftentimes driven by necessity – and is being measured and benchmarked by many Talent Functions.
Talent Advisory encompasses Build (Internal Recruitment), Buy (External Recruitment), Borrow (Contingent hires), and Bot (automate). However, taking the 80/20 Rule Pareto Principle, suggests that roughly 80% of results come from 20% of effort. In this case I would strongly assert that well over 80% of Talent Advisory outcomes will stem from 20% of key positions where you balance external & internal recruitment to gain optimal talent outcomes.
So, this begs 2 key questions:
There is pressure to retain key people who positively impact business/organisational outcomes – we all know that keeping employees where possible is good for business in a number of ways. When presented with a new hiring brief, the Recruiter or Talent Advisor could simply ask the Hiring Manager:
Unfortunately much of recruitment is transactional; it is a rinse and repeat business. Adopting a Talent Advisory approach makes the process more strategic and includes a higher level of business partnering. How could we take small steps to develop the team to perform these roles?
Business Partnering is a topic spoken about frequently. We often use the phrase “take a seat at the table” to refer to when the business treats Talent Acquisition as being able to add significant value towards achieving business goals. Talent Advisory is much more of a partnership. You demonstrate mastery of the internal and external market demand and supply. How can this be achieved?
If Talent Acquisition is purely focussed on external recruitment it become much harder to provide value to the business in times of hiring freezes. It is much easier to do this proactively by elevating the strategic value of your team and demonstrating value to the business beyond recruitment.
Most Talent Acquisition people will move positions every 2-3 years, some sooner. If this timeframe is about right ask yourself, do I want to be a Talent Advisor in my next gig? If so:
In all likelihood, you are most likely doing elements of Talent Advisory now. Why not incrementally take more steps to improve talent outcomes while building a Talent Advisory function?
Want to know more? Download our whitepaper From Talent Acquisition to Talent Advisory or join us at the upcoming Talent Advisory Conference in Melbourne on Tuesday 16th May.
