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Director S&OP, Forest Product Industry

LifeWork Search Newsletter - June 2017

 

 
 

Keys To Company Success
Maintain & Retain Your Top Talent

How do you establish and maintain success within a business? Attract top talent, of course! That's just where it begins. The compilation of this quarter's First Friday Previews teach us the steps to client retention- beginning with "How To Revamp Your Playbook To Attract Top Talent" (see link in Related Articles Section).
   
Attracting and finding the right people can grow your business and is what will help take it to that next level. To do this, you must alter your way of finding employees and approach them as you would your customers. Sherry Engel, Vice President of Learning and Talent with MRINetwork, tells us that companies must design recruiting strategies that meet them where they are. Candidates want ease of applying, transparency in the application process, and fast response time. Companies must understand the behavior of their ideal candidate(s) and use strategies that appeal to them. Address potential candidates' specific concerns and improve the application process.

Hiring mistakes can be quite costly and negatively impact your business so identifying who your ideal candidate is to fill a role and avoiding unhappiness is essential. Failing to do your homework and research the skills of a candidate well enough could lead to a more stressful and ultimately counter productive hiring process. 


"According to the society for Human Resources Management the cost of replacing an employee could end up amounting to anywhere between 50 percent and a few hundred percent of the individual's yearly salary."

So, how do you ensure the people you're attracting will be happy and a good fit? You want to satisfy the company's needs, but also the needs of your candidates and employees. To attract the right candidates and filter the talent pool, build a candidate profile and clearly state the expectations for the role. Providing detailed context of the role's requirements will better align the right candidates who will qualify. If an employee enters a role aware of expectations, they're less likely to be displeased by any unforeseen 'surprises'. 

How does my hiring process relate to my clients and the health of my company? 

Retaining your valuable employees retains your clients. So, once you fill a role you want to be as sure as possible they will be a good fit for the requirements of the role and the culture. Candidates are turned off by a company with a high turnover rate within a company. Ensuring you're finding the right talent is vital to client retention. To foster employees who are satisfied with their position, you must give them the ability to utilize their talent and skills, provide opportunities to learn and grow, offer recognition, and keep good communication. These key strategies will make your employees feel valued and, in turn, better serve your clients. Employees who take pride in their company and the work that they do benefit both your workforce and client base. 

IBF Research Questionaire:

In an effort to uncover the issues that S&OP, demand planning, forecasting, predictive analytics, and supply chain professionals are facing today, please take a moment and complete the IBF Global Research Survey 2017. By getting your anonymous insight into the nature of these challenges, IBF can carry on its world-leading bench-marking, education and knowledge exchange so firms can better establish S&OP as valuable, effective and integrated business planning process that's core part of their firm.

Feel free to forward this to others in your professional network that you feel can contribute to the research

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