The cost of talent… or not having the right talent in!

Having the right talent available in your organisation comes at a cost. You have to identify your target group, communicate your brand, build a compelling offer, organise and invest in recruitment activities, engage with candidates, convince them and finally hire and onboard them.

The core principle of staff augmentation might seem pretty much the same as in the past decades, but tomorrow’s talent has quite different demands from that of today or 20 years ago. In the past job certainty, a good salary and e.g. driving a company car were the benefits sought after. Today the main focus is on the opportunity to learn and develop, flexibility in working hours and working locations as well as having meaningful work. Finding the talent you need requires you to explore different routes. Traditional newspaper ads and job board postings are now overtaken by sourcing candidates on social media and proactively approaching talent with an attractive offer. Sometimes even crossing country borders and offering less conventional packages.

Not having the right talent in your organisation usually comes at a costs: Product development slows down, your time to market increases, your clients are confronted with late delivery or, maybe even worse, insufficient quality. You might be surpassed by competition, you will face lower results and eventually your company might need a costly and impactful reorganisation. Conclusion is that the largest cost of talent is the cost when you don’t have them in your organisation.

So besides a strong proposition and brand today’s challenge is to create an efficient, state of the art workforce strategy. Find a good mix of in- and external solutions, where necessary supported by the fitting IT tools. Many parties offer solutions to find talent, to manage your contingent workforce and to provide you with HR dashboards. Make sure you know exactly what you need, how it works and that you get what you need.

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About the author:

Marc Viëtor is Managing Partner at TalentIn. With more than 25 years in the industry and as former senior executive in Randstad and Randstad Sourceright he has a thorough experience in HR solutions. His broad experience covers  sales, solution design, concept and process development, finance and HR in markets around the globe. Marc has worked with many companies on a variety of services and solutions.

 

TalentIn can help you develop or update your talent management strategy, but we can also advise on aspects of it. We are happy to discuss this topic more in-depth with you. Please visit us at www.talentin.eu , mail us at info@talentin.eu or call us on +31 10 307 54 22.

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