Integrated talent management is not a new phenomenon, yet companies still struggle to align disparate areas such as recruitment, performance, succession, compensation, and learning. Why is it so difficult for organizations to have fully integrated talent management processes and tools? According to Brandon Hall Group’s 2014 Talent Management Systems survey, 50% of organizations still use multiple systems to manage talent management.
Last week, I was attended Peoplefluent’s WISDOM event in Miami and talked with customers that are the exception. These organizations are achieving great success with an integrated talent management strategy and technology. Peoplefluent, a leading talent management provider, helps more than 5,000 customers in 200 countries (80% of the Fortune 100) integrate talent processes, manage a contingent workforce, and drive business outcomes. One customer, McGraw-Hill, shared its journey to improve its strategy and align talent management with the corporate strategy. Robin Landsman, Chief Talent Officer, discussed the challenges, strategy and results.
McGraw-Hill reviewed the current state of talent management and determined that it needed to restructure talent acquisition, invest in pay for performance, and strengthen career development. With internal changes to the business — moving from a holding company to McGraw-Hill Financials — the organization needed a stronger talent strategy.
The Integrated Talent Management Strategy
McGraw-Hill created five centers of expertise they created including talent acquisition, talent development, total rewards, HR, and diversity and inclusion. These centers of excellence would have responsibility for designing and reviewing the strategies and implanting technology. Talent acquisition was a top priority and in order to create a total talent acquisition strategy, McGraw-Hill established four pillars of talent acquisition- executive recruiting, campus recruiting, internal mobility, professional and non-exempt.
After creating a talent strategy and investing in an integrated solution, McGraw-Hill decreased cost-per-hire, decreased time-to-fill to 20 days, and increased hiring manager satisfaction to 80%.
–Madeline Laurano, VP and Principal Analyst,
Talent Acquisition, Brandon Hall Group