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Revolutionising Talent Sourcing Strategies In A Changing World
Rohit Saboo, President and CEO, NBC Bearings believes that the greatest atmosphere for employees is established with a strong culture of recognition, rewards, engagement, teamwork, and appropriate hiring and management practices
The strategic focus of human resource leaders is on attracting top talent, fostering diversity and inclusion, promoting agility and innovation, enhancing employee experience and driving overall efficiency. In an exclusive interview, Rohit Saboo, President and CEO of NBC Bearings, shares his insights on the core priorities of HR leaders and how they can address gender diversity challenges, evolve talent sourcing strategies, and effectively retain talent. He also emphasises the significance of employer branding in attracting top talent and aligning it with the organisation's values and mission.
With the changing dynamics of talent acquisition, what could be some evolved talent sourcing strategies? How can leaders leverage both traditional and innovative methods to attract the best-fit candidates?
Over the past few years, changes in the workplace have had an impact on the global labour market and talent acquisition. With burnout on the rise, work-life balance is more important than ever. Some innovative tactics we can employ to boost our retention game and recruit wisely could be as follows.
- Think about your company's objectives for the following one to five years and use those goals to modify your acquisition approach to fit those demands. Recruitment frequently focuses on filling positions inside departments, whereas talent acquisition is more concerned with considering how your organisation will grow over time and then hiring people who can help you get there.
- There are numerous opportunities to better your talent acquisition strategy by using data. For instance, you may use data to identify the sources of your top talent and then target your talent acquisition efforts at particular academic institutions or online professional networking groups using that knowledge.
- Your business must put its efforts towards achieving its objectives while helping others. The corporate social responsibilities (CSR) and sustainability efforts of your business are a valuable recruitment tool for attracting top prospects who share the values and ideals of your company.
- Talented job prospects will compare firms and take into account factors like values, culture, and work-life balance. You'll attract superior personnel and experience more long-term success by building a strong employer brand.
Through direct engagement with targeted audiences on platforms such as LinkedIn and other relevant channels, leaders can establish a compelling attraction that entices top-tier talent to their organisations. The recruitment efforts are further boosted by actively participating in numerous forums, demonstrating thought leadership, and clearly and continuously communicating the organisation's vision and values. The integration of gig workforce solutions for complex demands opens up a new avenue for addressing specific skill requirements.
Retention is equally crucial as hiring. What retention strategies are found most effective in nurturing and developing the existing talent pool?
Retaining employees is indeed crucial for the smooth running of a successful company. It is crucial for an organisation to demonstrate that it values its employees' time and energy correctly.
Continuous engagement: Make sure to offer your staff a voice by making them feel heard and demonstrating the importance of their thoughts. The greatest atmosphere for your employees may be created by establishing a strong culture through recognition, rewards, engagement, teamwork, and appropriate hiring and management practices.
Identifying high potential: There are many ways to acknowledge and thank your staff, but it's crucial to make sure you give both public praise and monetary compensation equal priority. Being publicly acknowledged for our accomplishments as well as for our own labour makes us feel good.
Growth opportunities: A great company understands the benefits of training during the onboarding process for new hires, but a company with high employee retention also understands the importance of continuing to engage in training and upskilling staff. Your firm will be stronger as a whole if you invest time and money in upskilling your staff and give them access to further education and training in their profession. At NBC, we provide several options to upskill and enhance professional credentials.
Feedback platform: Consider creating opportunities for your staff to feel comfortable providing honest feedback. Giving employees the chance to communicate and collaborate on workflow and work environment improvements will help them feel like they had a hand in developing culture and ensure they stay engaged with the company. NBC offers ‘Idea portal’ where all employees can share their ideas for improvement.
Regular interactions through team meetings, one-on-one discussions, and informal check-ins keep employees engaged and informed. Recognising and nurturing high-potential employees via tailored development plans and challenging assignments help retain top talent.
What should be the core priorities of an HR leader when it comes to shaping and driving the people strategy within the organisation?
When leading the people strategy within an organisation, HR leaders must strategically focus on key priorities that align with the rapidly evolving business landscape. These priorities will not only attract and retain top talent but also drive the organisation’s overall success in the long run.
Efficiency and productivity are fundamental. By optimising HR processes, automating various tasks, and implementing performance metrics, HR leaders can improve workforce productivity and contribute to organisational efficiency. Digital transformation and growth should also be integral. HR leaders must champion the integration of digital tools for talent acquisition, learning and engagement. Leveraging data analytics and technology not only enables decisions but also keeps the organisation agile and attuned to market shifts.
Diversity and Inclusion also remain critical and play a key role. HR leaders need to transition from acknowledging these values to implementing substantial actions. Developing action plans, designating responsible leaders and integrating these D&I goals into performance management processes are essential.
Agility also plays an important role and HR leaders should foster flexibility, a learning culture, and cross-functional collaboration. This enables the organisation to navigate uncertainties effectively and capitalise on emerging opportunities. Promoting innovation is also crucial as nurturing a culture where creativity thrives fuels continuous improvement. HR leaders can establish platforms for idea-sharing and collaborative initiatives to drive unique solutions.
At last, enhancing the overall employee experience is also of utmost significance. HR leaders should refine benefits, career paths and work-life balance initiatives. A content workforce bolsters productivity which enhances the organisation's reputation.
What steps can be taken to address gender diversity challenges?
Lately, many organisations have started putting more and more emphasis on laying a foundation for gender diversity within the organisation. However, there remain certain challenges that need to be addressed. Firstly, implementing unique policies and practices tailored to women employees can create a more inclusive atmosphere. Secondly, ensuring equal opportunities for growth and roles, particularly in strategic and design positions, can help break down gender barriers. At NBC, although being a manufacturing industry, everybody has an equal opportunity to work in any role.
Additionally, sensitising the entire workforce and leadership about the significance of diversity is crucial. This involves educating them about its context and benefits and fostering a culture of understanding and inclusion. Lastly, establishing an open and safe work environment enables individuals to express themselves freely, promoting diversity and preventing discrimination. Combining these strategies can contribute immensely to bridging the gender diversity gap within organisations and aligning them with industry standards.
As the workforce continues to evolve, what role does employer branding play in attracting top talent? How can HR leaders ensure that the brand resonates with potential candidates?
In the evolving workforce landscape, employer branding is fundamental in drawing talent. HR leaders carry the responsibility of aligning the brand with potential candidates through a few key strategies.
Accentuating the uniqueness of the value proposition is paramount. Highlighting what sets the organisation apart can captivate top talent seeking distinct experiences. Secondly, organisational leaders must showcase a strong ethos. Demonstrating values and a clear mission resonates with candidates seeking purpose-driven workplaces. Also, enabling employees to harness their potential works best and HR leaders should convey how the company provides optimal opportunities for growth and development.
Furthermore, a compelling brand proposition that involves communicating the organisation's mission, vision, and values, seals the deal not only for customers but also for potential candidates. An impactful message that encapsulates the organisation's essence can generate maximum interest among potential candidates.