April Feature: NAVIGATING THROUGH UNCHARTED WATERS
In this uncertain time of the Covid-19 pandemic, besides keeping safe and staying healthy, we would like to provide insights into how companies can manage their talent risks and at the same time, reduce ambiguity surrounding their hiring approach.
This pandemic has certainly transformed the way we interact with each other – from social distancing and conducting our businesses virtually, to home-based learning and webinars. It is the new normal that greets us now.
Acquiring Talents Differently
The impact on the hiring and compensation front has also been felt.
The way we acquire talents is now markedly different from before. Hiring tools via Skype, Zoom calls and video-based interviews are now the new normal. No longer will hiring managers necessarily need to have a physical face-to-face interview. New assessment tools will also be administered virtually.
There is also a cautiousness in the air. Based on Aon’s latest APAC Pulse Survey (conducted with 304 companies) – Navigating the Impact of COVID-19 on Workplace and Rewards practices – the following hiring trends were noted:
• 55% indicated that they are not changing any plans
• Close to 45% of respondents have said they are ‘closely reviewing’ their workforce plans
• Out of the 45%, 29% are adopting a cautious approach to hiring, and the remaining, 11% are implementing a hiring freeze, while a lesser 5% see a potential downsizing.
Riding The Recovery Wave
Certainly, there is no denying that the situation now requires adaptation on all fronts. However, it should not paralyse our development as individuals and organisations.
We encourage companies to start planning for the recovery. When the situation finally turns the corner, companies who have their talents identified and waiting in the fold, can leapfrog their competition.
Among the various issues contending for attention, companies that take a step back to factor in their talent needs by planning ahead, stand to ride the recovery wave first. Waiting for the dust to settle may blind side companies otherwise. When the gates are up, the bulls will start charging again and it is important to run together, with the right talents already in place in your organisation.
Currently, we are helping some Chinese companies to plan and hire critical employees in Asia as the tide on the Covid-19 situation begins to turn in their country. Our experienced Ren consultants would be able to help you plan ahead, and find the right talent to suit your organisation’s needs and navigate through these uncharted waters.
March Feature: SEIZE THE DAY
During this season where the marketplace feels unsettled because of the Covid-19 and global trade concerns, many of us may feel a sense of uncertainly. However, there are always opportunities in times of danger. In fact, the Chinese term for crisis i.e. 危机 – is made up of 2 characters of ‘danger’ or 危 (wēi) and ‘opportunity’ or 机 (jī), side by side. Instead of being paralyzed, we can seize this time to prepare ourselves for the next door that opens in the marketplace!
Here are some easy tips to consider:
#Tip 1: Clear the Cobwebs
- When was the last time you worked on your resume? There is no better time now to refresh your credentials, than to rush through it when the opportunity arises.
- On average, corporate job postings attract around 250 resumes – of those 4-6 are selected (Source: Glassdoor). This makes it vital for yours to stand out from the crowd by investing the time and effort now.
- A gentle reminder to use it as a base and adapt it to the future job you are applying for – either through an agency or otherwise.
#Tip 2: Stay Connected
- Reach out to talent recruiters like us (just give us a tinkle or email when you are ready).
- It helps you maintain visibility and a share of mind so that you will be one of the first to be contacted when the right opportunity arises.
#Tip 3: Refresh Your Skills
- If you stay still and not move forward, you are likely to be moving backwards (unwittingly), when others are up-skilling and making forward progress!
- Speak with your supervisor and bring forward your training plans to enhance your skills now. This helps you stay competitive internally and externally.
- Your in-house HR team will also be aware of your eagerness to learn and if an internal position opens up, you will be right there for consideration.
#Tip 4: Keep Your Finger on The Pulse
- In this green and gig economy, you would do well to keep tabs on growth areas and where companies are investing in.
- With new sectors like agri-food technology, innovation and sustainable causes taking centerstage, it would be useful to hone your Human Capital skills towards being a part of this next wave.
STAFF RETENTION – CULTURE
Culture is intangible, you can neither see nor value it, yet, it is a driving force that sustains an organisation where employees communicate and interact with each other. It determines if an employee would like to join, remain or leave an organisation.
No matter size of an organisation, culture permeates through an employee’s professional and personal life. To create a conducive culture, we must first look at the interpersonal relationships at the workplace. These interactions are governed by behaviours that build and live the corporate values to deliver business outcomes.
Interactions at the workplace must be built on openness, trust and respect. Active listening without prejudging is a key ingredient to building a trusting and respectful environment. Clarifying by asking questions avoid miscommunications. Providing constructive feedback and guidance help in establishing clear goals and accountability; which when established, empowers the employees to chart their priorities to achieve the goals.
Empowerment also allows employees to determine how they want to carry out their work. Examples set by senior management about openness, trust and respect will cultivate a more engaging and fulfilling workplace for all.
WAR FOR TALENT
We have often heard of the phrase, ‘War For Talent’. What exactly does it means?
Companies often said that the most important asset is their Human Capital, and the success of their companies depends on them. To understand ‘War For Talent’, we need to first understand what Talent means.
Put simply, Talent refers to people who possess natural aptitude or skill. As the world changes with digitalisation, yesterday’s talent is no longer today’s talent. What is considered Talent for one company or industry may not necessarily be talent for another. Talent is intertwined with relevancy.
The next question is how and where to acquire relevant talents. Talent comes in all shapes and sizes, not defined by discriminatory biasness. They are not perfect, they are just as human as you and I.
In acquiring relevant talents, hiring managers need to be able to assess the following:
1. Future needs that will propel the organisation to success
2. Assess the employees within the organisation and their potential for growth
3. The greater good of the society (CSR)
4. Diversity and Inclusion
At Ren, we help you understand the talents you need and also attract them to your company. Talk to us and we will be happy to help you journey the acquisition of relevant talents.