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Winning the Talent War with Human Resource Outsourcing

The talent war is on. According to McKinsey and Deloitte studies, 87 percent of HR directors rate talent retention as their number-one priority, and 75 percent of corporate officers fear talent shortages. Talent management offers a coordinated approach to the problem, helping companies recruit--and retain--the best workers.

Outsourcing the Talent Management Strategy

Human resource outsourcing offers the comprehensive scope and expertise to execute a winning talent management strategy. An HRO provider has the resources to plan and execute management processes that foster and optimize talent. Specifically, an outsourcing solution can help businesses:

  • Define a talent strategy that supports business goals
  • Discover talent through targeted sourcing and recruiting initiatives
  • Develop talent potential through training and continuing education programs
  • Retain talent through incentive and loyalty programs
  • Track talent performance and manage promotions
  • Deploy talent to meet company needs

Human resource outsourcing experts are adept at analyzing a companys existing workforce and identifying talent gaps or inappropriately allocated resources. By partnering with an HRO, a companies can both expand their workforce through strategic new hires and extend their existing human resources. Common development strategies include training and leadership development programs, performance reviews, and internal promotions.

Talent Management Outsourcing Resources

HR outsourcing experts help companies develop the resources they need to recruit and retain high performers. Some of these resources include:

  • Competency frameworks. Competency frameworks are important tools for recruiting and evaluating talent. They define the competencies required to perform a specific job effectively. HR professionals use the framework to develop interview guides, assessment tools, career development plans, and a learning curriculum for a given role in the company
  • Assessment tools. The HRO provider can help develop assessment tools that determine an applicants skills and abilities, personal disposition, cultural fit, and long-term potential
  • Training and development programs. Human resource outsourcers can apply best practices in developing corporate training programs, including content development and delivery format
  • Performance metrics. HROs help clients develop tools for quantifying the productivity and work quality of each employee, along with other factors pertinent to a specific role

A 360-Degree View of Talent

Human resource outsourcing providers are uniquely positioned to help companies develop an integrated talent management strategy. Accenture talent management consultants Sian Beacham and Craig Mindrum explain, "With a global view across all the relevant dimensions, a provider can be a catalyst to bring together disparate initiatives and a facilitator to ensure alignment and focus. "

The birds-eye view not only helps to eliminate redundancies across the organization, but also keeps the entire human resources operation aligned with business goals. HROs promise "the strategic contextualizing of talent management." Achieving this coordinated and focused program requires an "ongoing alignment of workforce policies, investments, and performance with an organizations most critical business needs."

Its increasingly rare for workers to stay at the same job for more than five years. In this restless environment, businesses need to go the extra mile to retain top talent. Human resource outsourcing consultants offer talent management solutions that go to the heart of employee retention. Focusing on recruitment, training and development, and promotion, HROs help companies keep the high-performing workers on whom their future depends.

Sources

Accenture.com (PDF)


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