talent talk webinar sourcing in a time of scarcity
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The workforce is changing. Older workers are retiring. Key knowledge and skills are draining from many organizations. At the same time, recruiting younger workers takes new approaches. And with studies showing younger workers stay with one job an average of half as long as their baby boomer counterparts, organizations need to get smart about not only finding, but retaining key employees. Talent management expert David Freeman walks you through simple steps and strategies for Sourcing top talent in a time of scarcity. You’ll learn: • What the forecast is for the labor market in upcoming years • How to combat the knowledge and skills drain • How to successfully find, attract and retain Generation X and Y workersTRANSCRIPT
Cytiva Software, Inc.
“Sourcing in a Time of Scarcity”
Hosted By: David FreemanTalent Management Solutions ConsultantCytiva Software Inc.
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“Sourcing in a Time of Scarcity”
What does the forecast for the labor market look like in upcoming years?
How to combat the knowledge and skills drain.
How to successfully find and retain Generation X and Y workers
“Sourcing in a Time of Scarcity”
51% of the workforce is expected to be age 40 or older by 2010
Workforce growing at slower rate than in previous decades (8.5% 2006-2016, 13.1% 1996-2006)
Fewer younger workers entering the workforce. Number of workers between 16-24 expected to decline by 6.9% and those aged 25-39 by 5.7% by 2016
Workforce shortfall?
“Sourcing in a Time of Scarcity”Motivating and retaining seasoned workers
Motivating and retaining seasoned workers Sourcing, and retaining the Gen Y population
“Sourcing in a Time of Scarcity”Motivating and retaining seasoned workers
What motivates seasoned workers? Learning and development opportunities Flexibility in their schedule Autonomy in their job responsibilities Challenging projects/assignments – possibility to
mentor, “knowledge share” Special benefits such as “care-giver days” Retirement programs including planning
tools/resources
“Sourcing in a Time of Scarcity”Motivating and retaining seasoned workers
Best Practices Provide learning opportunities including; classroom
training, online learning, workshops, tuition reimbursement Offer paid time off (PTO) vs. vacation time when possible.
Increases flexibility in the schedule. Consider a “time off bank” Offer age-targeted retirement planning Special benefits such as “care-giver days” Phased retirement programs Mentoring Programs
“Sourcing in a Time of Scarcity”Motivating and retaining seasoned workers
Available Resource AARP Employer Resources -
http://www.aarp.org/money/careers/employerresourcecenter/
AARP Workforce Assessment Tool – http://www.aarpworkforceassessment.org
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
What makes the Gen Y worker unique? They tend to have a feeling of entitlement They expect to be paid more, have more vacation
time, and more flexible schedules They expect to be promoted quickly They have a more difficult time listening and taking
directions then their predecessors Tend to stay in positions for shorter periods of time.
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
What motivates Gen Y workers? Regular, immediate feedback. They live for
electronic communication. A team atmosphere Changing tasks and responsibilities – “rotate to
motivate” Flexible schedules – telecommuting, flex time, PTO Special benefits such as company sponsored extra-
curricular activities, friends and family discounts
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
Sourcing/Attracting the Gen Y worker Time to update your corporate career site Take advantage of available technologies Have a presence where they are “hanging out”
- MySpace, YouTube, FaceBook, etc.
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
Corporate career sites - Gen Y Style Tell a story…don’t just spew information Make it fun, exciting, interactive Consider having an employee blog Take your lead from marketing Examples:
http://www.microsoft.com/college/default.mspx http://careers.bankofamerica.com/overview/overview.asp http://www.tandk.com
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
Take advantage of technology Resume Search Spiders - Infogist Job alerts by text message – CareerBuilder Social Networking Sites
“Sourcing in a Time of Scarcity”Sourcing, and retaining the Gen Y population
Hang where they hang MySpace
Thomas and King’s MySpace PageApplebee’s MySpace Page
YouTubeThomas and King’s YouTube Video
FaceBookMicrosoft’s FaceBook Page
“Sourcing in a Time of Scarcity”
What does the forecast for the labor market look like in upcoming years?
How to combat the knowledge and skills drain.
How to successfully find and retain Generation X and Y workers
Cytiva’s Free Webinar series
• Sourcing Talent in a Time of Scarcity - 8/14/08 10-11 AM PDT
• Getting the Most Out of Your Recruiting Investment - 9/11/08 10-11 AM PDT
• Six Steps To Implementing Performance Management Software
- 9/18/08 10-11 AM PDT
• Interview Techniques and Strategies for Hiring top Performers
- 10/09/08 10-11 AM PDT
• Retention: The Key to a Successful Recruiting Plan - 11/20/08 10-11 AM PT
Register at: www.sonicrecruit.com/company/events.htm
“Building an Effective Referral Program to Source Quality Hires”
Cytiva Software Inc. offers a wide variety of products and services to help you get the most out of your recruiting efforts.
Talent Acquisition System• Custom career sites• Employee referral management• Career agents• Ad posting and tracking • Manager self-service• Contact management/Outlook integration• EEO/OFCCP compliance• Vendor Management Module• Onboarding Module• Hourly Recruiting System
Consulting SonicPerform Performance Management System
To learn more contact: David FreemanTalent Management Solutions Consultant877-775-0888www.sonicrecruit.com