The “perfect fit” isn’t a myth. Your bullseye candidate is out there, but it’s harder than ever to find them...
From the outset of a search all the way to a placement, the daunting task of pinpointing a "bullseye" is impacting how companies find the talent they need to prepare and execute on transformative future goals. According to Hunt Club’s most recent market survey...
💡 Less than half (44%) of respondents feel confident in their organization’s hiring process and their ability to scope, vet, and hire executive leaders with the skills necessary to drive their company’s next level of growth.
How does your company fare?
Is your hiring process set up to help you find a transformational hire? What barriers are you facing when it comes to finding and hiring the talent you need? And do you know how to circumvent these obstacles in order to build a talent acquisition strategy that works for you?
Rather than risk starting from scratch, equipping teams with the right tools and metrics to gauge the effectiveness of their talent strategies is paramount to ensuring your talent strategy is not only just in place, but is working. To help discern how to ground your talent strategies in actionable and measurable steps, we turned to Melanie Steinbach, Chief People Officer at MasterClass at Work, to share what she has lived and learned through her extensive experience scaling and transforming HR/people functions.
From Melanie Steinbach: 3 Actions and Indicators To Measure If a Talent Strategy Is Working For (Or Against) You
1. Harmonize and Humanize: Orchestrate Talent Strategies That Strike the Perfect Chord With Business Objectives ⚖️
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Actions
- Identify key business goals and determine the skills, roles, and workforce capabilities needed to achieve them.
- Involve leadership and departmental heads in workforce planning to ensure alignment between business needs and talent strategies.
- Develop a talent roadmap that includes recruitment, upskilling, and retention strategies tailored to business priorities.
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Key Indicators To Measure These Actions
- Role Fulfillment Rate: Track how efficiently and quickly critical roles are filled.
- Skill Gap Analysis: Monitor gaps between current workforce capabilities and business needs, aiming for a decrease in skills mismatch.
- Goal Alignment Feedback: Conduct regular surveys with leadership to gauge whether talent initiatives support their departmental and company-wide objectives.
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2. Prioritize Employee Development and Career Growth 📈
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Actions
- Create structured learning and development (L&D) programs, focusing on both technical skills and leadership capabilities.
- Implement clear career progression frameworks to help employees see a path for growth within the organization.
- Facilitate mentorship and cross-functional opportunities to enhance learning and increase engagement.
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Key Indicators To Measure These Actions
- Internal Mobility Rate: Track the number of employees promoted or transitioned into new roles within the company.
- Training Participation and Application: Measure participation rates in L&D programs and follow up with assessments or project-based evaluations to see if skills are being applied effectively.
- Employee Retention in Key Roles: Higher retention among high performers and individuals in critical positions can indicate successful development opportunities.
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3. Cultivate a Culture of Engagement and Inclusion 👏
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Actions
- Establish and communicate a clear set of company values and ensure they are incorporated into all aspects of the employee lifecycle (hiring, onboarding, performance reviews).
- Foster open feedback loops through regular check-ins, pulse surveys, and employee forums to understand sentiment and address issues promptly.
- Implement policies that promote work-life balance, respect, and inclusivity, ensuring that all employees feel valued and supported.
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Key Indicators To Measure These Actions
- Employee Engagement Scores: Use engagement surveys to assess employee morale, connection to the company, and alignment with organizational values.
- Diversity and Inclusion Metrics: Track diversity in hiring, retention, and promotion rates to ensure inclusive practices are being effectively implemented.
- Employee Net Promoter Score (eNPS): This metric gauges how likely employees are to recommend the organization as a place to work—an indicator of overall engagement and cultural fit.
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Is Your Hiring Process Set Up To Help You Build Strong, Thriving Teams?
Too often, organizations overlook critical elements that distinguish a thriving team from a merely functional one. A well-defined talent strategy has to be dynamic, agile, and laser-focused on creating high-performing teams that propel your organization forward.
So, ask yourself: Is your current hiring process just filling seats, or is it strategically aligned to attract, develop, and retain top talent that will shape the future of your organization?
Build a Strong, Effective Hiring Process With the Help of Experts Like Melanie
Melanie Steinbach is a seasoned executive at the intersection of people, innovation, and strategy, bringing a wealth of knowledge from her experiences over the past decade at a diversity of companies like Cameo, McDonald's, and Milliken & Company.
She is currently the Chief People Officer at MasterClass at Work, MasterClass’s enterprise offering, and is part of the ExpertAccess Program, which puts first-string operators in your back pocket for all things talent so you can hire better, smarter, and faster.