Transcript Document
Get, Keep, Grow: How to Win the War for Talent “The most important asset your business has, bar none, is its people” - Ron Beilby, 1979 Presented by: James Fairbairn National Head of Practice, Accounting & Finance - Beilby Consulting Coming Up: The Market: What are the Experts Saying? $225,000,000,000 to $250,000,000,000 The Market: What does this mean in numbers? • 240,000 additional workers needed by 2017 • WA already near full employment at 4.0% • Net migration only 54,000 pa • Of whom only 50% will be looking for employment Shortfall of at least 150,000 workers by 2017 The Market: What does this mean for your business? Recruitment: Who are you talking to & how? Recruitment: What is the real cost of recruitment to your business ? (V+(YxN)) / (1-Z/100) x (1+R) V - Visible recruitment cost Y - Average cost of time in man hours taken for each hire N - The total number of man hours for each hire Z - The Percentage of incorrect hires R - Lower staff retention factor Recruitment: How Can You Mitigate Recruitment Risk? • Effective project planning • Broader pool • More detailed briefing • Assessment of behavioral & cultural fit • Effective referencing • Better on-boarding Recruitment: Using Recruitment Providers: Transaction or Partnership? Retention: Push vs Pull Factors • C • • • • • • • Poor leadership Culture Under-staffing Communication Challenge Empowerment W/L Balance • • • • • • • Pay Benefits Better W/L Balance Advancement & Personal Development More Challenge Location Training Retention: The Employee Engagement Piggy Bank Not Looking (aka Limpet) Passive (aka shark) Semi- Active (aka weather vane) Very Active Job Seeker (aka Rolling Stone) Retention: The Rules of the Game have Changed Retention: Ten Practical Ideas for Improved Engagement PLEASE Conclusion What MUST you do before it is too late? • • • • • • • • Measure recruitment & retention success rates (& improve upon) Make this a permanent agenda item Always employ best practice recruitment methodologies Create Partnership not Transactional relationships with suppliers Identify who are flight risks and act accordingly Keep investing in the Engagement Piggy Bank Never compromise on excellence or best practice Most of all : Never be complacent over your most important asset Here Endeth the lesson Reverend Fairbairn had given boring sermons before, but this time, he outdid himself.