Best practices for talent acquisition in PSOs

Nurturing Talent: The Heartbeat of High-Performing Organisations

In this thought leadership article and podcast with TimeLogs Sofie Hermansen, we delve into talent's pivotal role in organisational growth and excellence.

Understanding the significance of talent

In today's competitive landscape, talent isn't just important; it's the driving force behind your organisation's success.

People shape your brand, define your reputation, and deliver your product – knowledge, expertise, or services.

For leaders, it's about recognising that talent isn't just a resource; it's the heartbeat of your company. It's about hiring the right individuals, nurturing their growth, and fostering a culture that encourages everyone to flourish.

The Talent Pillar: A Holistic Approach

The Talent Pillar is one of five Professional Services Maturity Matrix pillars. While some might refer to it as Human Resources, the term talent is more precise.

It signifies the focus on hiring, developing, and growing talent rather than merely having "resources" at your disposal.

The five pillars mapped out in the Professional Services Industry Benchmark—leadership, Client Relations, Service Execution, and Finance and operations—should be approached holistically to achieve high-performance outcomes.

For instance, strong leadership fosters a conducive work environment, positively affecting talent retention and attraction.

The Talent Pillar's core processes revolve around recruiting, hiring, onboarding, training, compensation, performance management, and career development.

The three critical factors for talent retention

An integrated approach is essential to attract and retain talent effectively. Three interrelated factors stand out:

• Processes: Establish robust hiring, onboarding, and development processes to create alignment and transparency.
• Technology: Leverage the suitable IT landscape to support talent. In today's world, technology plays a crucial role in attracting, developing, and maintaining talent. It streamlines operations, enhances remote work capabilities, and aids data-driven decision-making.
• Performance: Data-driven insights and management ensure that your talent remains motivated and aligned with your organisation's goals.

Making your company attractive to talent

Attracting talent requires a compelling employer brand. A stellar reputation, competitive salaries, work-life balance promotion, and appealing benefits can make your company stand out.

In a competitive job market, these factors are crucial.

For lesser-known brands, every interaction with potential candidates matters. The professionalism of your People and Culture department, transparent communication of goals and values, and flexibility in work arrangements are vital.

The emphasis on work-life balance has surged, aided by the shift to remote work accelerated by the COVID-19 pandemic. This change has reduced travel time, increased billable hours, and lowered non-billable administrative tasks. However, it necessitates practical collaboration tools, team-building support, knowledge sharing, and learning opportunities, all facilitated by technology and mature processes.

Maturity levels and talent development

Companies at maturity level 1, characterised by low maturity, often rely on ad hoc processes and individual heroes. While this approach may yield results initially, it lacks consistency and opportunities for professional growth. It frequently leads to unaligned teams and a lack of transparency.

Companies at levels 2 and 3 begin standardising processes, defining roles, and offering structured onboarding and career paths. They also embark on resource and capacity planning, enhancing employee satisfaction by reducing uncertainty.

Characteristics of companies at levels 4 and 5

Companies at levels 4 and 5 are characterised by alignment in goals, roles, development, and growth.

They have strong, clear leadership and defined roles that offer room for development. Their processes are documented yet flexible, driven by data and efficiency. They use technology as an enabler and constantly evolve and optimise processes.

Areas for improvement in talent retention

Improvement areas vary based on the starting point. Many organisations are at level 2 or 3, where roles and processes are already defined. In that case, integrating the IT landscape, including talent and performance tools, represents a significant improvement opportunity. Data-driven insights can enhance capacity planning, recruiting, and performance management.

Low-hanging fruits in talent retention

While there's no easy fix, one "low-hanging fruit" focuses on retaining existing employees. Given the time and effort required to hire and onboard new staff, keeping existing talent happy and engaged is a wise investment.

Start by establishing baseline data on hiring and onboarding processes for immediate improvements. Monitor key performance indicators like time to hire, time to productivity, ramp-up time, attrition rates, and training days.

Use this data to identify areas for improvement, with a particular focus on aligning processes and utilising technology.

Key takeaways

While the significance of talent in organisational success is widely acknowledged, the key takeaway is that small efforts can yield significant results.

Start by streamlining your hiring and onboarding processes, gathering data, embracing technology, and becoming data-driven.

If you already use professional services automation tools, you likely have a treasure trove of data—use it.

In conclusion, nurturing and developing talent isn't just about having the right people; it's about creating an environment where they can thrive.

With a focus on data-driven decision-making, streamlined processes, and effective technology utilisation, your organisation can attract, retain, and develop the best talent, paving the way for sustained success.

Beyond the Benchmark podcast with Sofie Hermansen 

Best practices for talent acquisition in Professional Services Organisations

"I love learning new things and developing and refining existing skills. One of my goals is to implement something new every time I attend a course or conference - because knowledge should be used and transformed, so it goes from the head to the fingertips," Sofie says about her professional profile.

Connect with Sofie on LinkedIn.

Listen to all episodes of Beyond the Benchmark

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