TOPRA Annual Veterinary Symposium The War for Talent Effective Recruitment & Retention A presentation by Paul Foster, Consultant, The RSA Group of Companies ENABLING AND PROMOTING EXCELLENCE IN THE HEALTHCARE REGULATORY PROFESSION
Aim Background Guide to effective recruitment process Identify key success factors for recruiting Internal or External Resourcing Candidate Management Retention
McKinsey & Co. Study 1997 77 Companies 6000 Managers & Executives The most important corporate resource over the next 20 years will be talent. The search for the best and the brightest will become a constant, costly battle, a fight with no final victory. Not only will companies have to devise more imaginative hiring practices; they will also have to work harder to keep their best people 62% of Regulatory Professionals have had to change company to get the role they wanted. Source: TOPRA Study 2006
Why it s important Talent is the Key differentiator Talent creates, innovates and inspires It s source of sustainable value Great people attract other great people and build great companies Regulatory Talent will increase Corporate Turnover!
I need someone now! You ve identified the need Permanent Interim Decided on the profile Core competencies Defined budget and salary Time for action!
What s needed? A Strategy! A recruiting mentality, throughout Look everywhere, wider and wider! Use all your weapons effectively to win! Commitment, dedication, tenacity and flexibility Always hire the best you can, never settle for mediocrity! Hiring people is easy, hiring good people is difficult and hiring great people needs dedication! Compete on all levels
Select your team Make sure you have good balance Stay involved, it s your hire! Gain a team commitment Recruitment Responsibilities must be understood Use your HR function properly Initial Screening Competency-based questions STAR Personality Testing
Moving forward Time plan Review regularly Schedule accordingly Communication Fully utilise your resources
How Long???? Identification & Targeting Attracting Selecting & Acquiring Integrating TIME
Internal or External Resourcing Internal Benefits? External Resourcing Benefits?
Internal Resourcing Your in-house team Make sure they know your needs Evaluate as a business partner Set clear deliverables and metrics Ensure they have the credibility Use their knowledge to refine process Ensure you re a priority
Internal Resourcing Channels to candidates Advertising, mailers Email, SMS, MMS User groups, forums, special interests Video, webcasting, podcasts Referral programmes Events, industry committees, courses
Internal Resourcing Networking Connect with people Once local, now global!
Outsource? Reduce operating costs Improve company focus Reduce risks Improve quality Improve service to the core business Increase flexibility
Selecting a Recruitment Consultancy Specific or general? If recruitment needs are general then look at a broad range of agencies. If you are a highly specialised industry or require specific skills you need a sector specific agency. Ask for evidence of experience in that industry. Have they found candidates for your competitors, or has anyone worked in that industry themselves? Check their screening process You are paying to save you time and money - you do not want to be wading through CVs that are not applicable or sitting through interviews with candidates who are not suitable. Does the agency check their candidates references? If filling a permanent position this is an essential task. If you do not have time to do this, choose an agency which does Speak to someone! The quality of their personnel will reveal a great deal about a recruitment agency. They should ask you lots of questions to determine the skills you require. Look at their mission statement Do they subscribe to rigorous codes of practice and standardisation? Look for indicators of a commitment to high performance and ethics. Do they practise what they preach? Do they believe in professional qualifications and developing their own staff? Look for recruiters with industry qualifications, qualified consultants will be conversant in the legal, ethical and business issues and trained to select and interview candidates for accurate matching. Source: Personel Today 22 nd February 2005
Demystifying Agencies No-win, no-fee or pay upfront? Contingency
Contingency Database Search Interview against specific skill set required Gain Commitment for role Gain approval to submit CV
Demystifying Agencies No-win, no-fee or pay upfront? Contingency Advertised Selection
Advertised Selection Contingency + Agreed tailored recruitment strategy Client-branded advertising in targeted specialist media print and web-based Evaluation of ad response Detailed screening and competency based interviews Feedback to applicants who do not meet the brief Presentation of shortlist A commitment fee is agreed before the project starts. The rest of the fee is payable on agreed shortlist and finally on successful placement
Demystifying Agencies No-win, no-fee or pay upfront? Contingency Advertised Selection Executive Search
Executive Search Take a detailed assignment brief Candidates profile, required skills and competencies Agreed tailored search strategy Search targets identified Detailed screening and interviewing of candidates assessing competencies and interpersonal skills Submission of benchmark CV's Feedback to applicants who do not meet the brief Presentation of shortlist Use of facilities for client interviewing if required A commitment fee is agreed before the project starts. The rest of the fee is payable on agreed shortlist and finally on successful placement
Demystifying Agencies No-win, no-fee or pay upfront? Contingency Advertised Selection Executive Search Experience of your skill area Can they reach the markets you want? Understand their process Contingencies for failure, risk shared? Can they support your systems?
Still looking Don t panic and get desperate! If you have a plan, work it Always have contingencies Be honest and face the problems Manage your resource effectively Get feedback you need to know Look for improvements
Interviewing Work with your HR, process and legal teams Ask intelligent interview questions Dare to be different Challenge your candidates Be interesting and interested Sell the synergy Align expectations Manage expectations
Close or lose! Always work hard to close Use whoever you need Communicate, listen Negotiate intelligently Focus on the details, be responsive References Work to smooth their transition Be(A)ware the Counter-Offer
Handling Rejection Say NO nicely Talent is always developing People come back if they like you Needs change and so do people People have friends that can help Remember, your company must have a good image in the talent pool! Protect the Corporate Image/Brand
Retention is Cheaper than Recruitment Re-organising employee relationships Reduce Bureaucracy Accountability/Responsibility Offer flexible working patterns Engaging remote workers Freedom to control career direction Global organisational structures Diversity in hiring Talent attracts Talent
Summary Commit to REAL talent Great people are worth it Plan, Build and Manage Use your tools and resources Team effort Create the right selection process Close hard to get the BEST! Then keep them!
The companies that are most likely to succeed are the ones that spend the most energy on attracting, developing, and retaining talent.. As the war for talent intensifies, the gap between the winners and the losers will probably get wider and wider. Ed Michaels McKinsey & Co Make Sure You re a Winner
QUESTIONS?
Suggested Reading 4. 5. 6. Talent Management, www.cipd.co.uk http://www.aspirionpharma.com/whitepapers.pdf http://www.pharmafile.com/news/172339/7-steps-better-talent-acquisition 1. Woodruffe Ch. Becoming an employer of choice: the new HR imperative. Training Journal. July 2001:9-13 2. Ed Michaels et al. The War for Talent. Harvard Business School Press. Harvard Business Press Books. 2001. 3. http://www.inc.com/ilya-pozin/9-things-that-motivate-employees-morethan-money.html?nav=pop 7. http://www.personneltoday.com/hr/talent-management-heart-mergersacquisitions/
RSA Name: Paul Foster Tel: +447841919872 Email: paul.foster@thersagroup.com