Yesterday’s Advisor featured experts Jack Tootson and Lucia Erwin on supply chain management—how to talk management’s language on recruiting. Today, we offer more of their tips.
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Tootson, CEO at Global Performance Management Systems Inc., and Erwin, CEO of Talent Strategyzer, Inc., offered their advice during a recent BLR® webcast.
Two Factors We Forget
Programs that function in reaction to requisitions often get tripped up by two factors, says Erwin:
Scarcity. Take cyber engineering, one of the hot roles today, as an example, Erwin says. It’s very tight for organizations needing that skill. To successfully meet demands in this area, you need to partner early; otherwise there will be an impossible plan that demands nearly immediate hiring of scarce applicants without adequate compensation.
Attrition. This could be from routine actions like retirement, or it could be losses of key players of any tenure. What’s causing the attrition? You need to know. Job market? New competitor? A side benefit of looking at attrition is that you may identify solvable problems. For example, at one organization, analysis of attrition showed that three leaders accounted for the higher attrition. When those managers were helped with management skills, the problem was eliminated.
One nice fact about lowering attrition—return on investment (ROI) can easily be shown, says Erwin. Also, when you are dealing with a short supply, it may drive the organization to do more retention and more development.
There is always a tendency to think, we can just go out and hire, but sometimes that’s not possible, and hiring managers need to know that, Erwin says.
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External Supply (Labor Market)
Tootson offers the following key questions to ask in supply analysis:
Here’s one example of what a supply forecast might look like:
Workforce Supply Forecast
Anticipated Supply 2013 = Sum of Current Headcount – Anticipated Exits – Anticipated Retirements
Anticipated Supply 2014 = Sum of 2013 Anticipated Supply – Anticipated Exits – Anticipated Retirements
Anticipated Supply 2015 = Sum of 2014 Anticipated Supply – Anticipated Exits – Anticipated Retirements
Questions to Answer in Demand Analysis
Here’s Erwin’s checklist:
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