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Retaining Talent throughout Employee Life Cycle

Selecting, Developing & Retaining Talent within the Employee Life Cycle

Skillsarena is here to help HR Managers and Recruitment Consultants select, develop and retain their candidates across the employee life cycle through the use of Talent Management Tools.

We know that success depends on having the right people in the right jobs at the right time. Our assessments help eliminate the guesswork, so you can make informed decisions.

The 5 key stages of the employee life cycle are Recruitment, On-Boarding, Training, Appraisal and Exit.

 

Select Talent

Selecting talent during the recruitment stage is critical as when it comes to hiring, securing the best candidates in the end depends on the methods implemented in the beginning. The ability to correctly predict a potential candidate’s job performance is near impossible if you do not have the evidence to support your theory. Getting the right assessment tools implemented within your recruitment process is vital in building a strong talented workforce. The right assessments provide substantially better data and better data enables better HR decisions.

Although implementing assessment tools are somewhat considered a luxurious expense especially if required on bulk but consider the cost of poor hires in terms of salary, cost to rehire and productivity lost during the transitional period.

Skillsarena’s expert Consultants can help you identify the best candidates for a particular role through its recruitment consultancy service and utilising the skills testing platform whether it be from psychometric, aptitude or core competency testing. By using this talent management tool, you will have the confidence to hire candidates with the right combination of skills and attitudes required for your hiring needs.

Develop Talent

Developing talent falls into both the on-boarding and training stage. Once you’ve brought in a new employee, the hiring process is not over. Many employers make the mistake of expecting new hires to simply be productive immediately, often with little or no training much less on-boarding.

Ensuring your employees have a positive, engaging on-boarding experience is just as important as making sure your application process goes well. The on-boarding process is your first impression with a new employee. It is about conveying your organisational brand and values. You want to put your best foot forward, and get them fully productive quickly.

Utilising Skillsarena’s Situational Judgement Test as part of your on-boarding process can be just as beneficial as utilising it as part of the recruitment process. Just as much as you will be able to see how they react to realistic scenarios that occur in your working environment, it gives your newly acquired employee the chance to gain an insight into the company culture, values and ethics.

In order to provide your staff with development opportunities and training schemes, you must first understand their current skill strengths and weaknesses, so you know the areas of improvement that need to be addressed. You provide training because you want to improve the efficiency of your staff and make them as productive as possible for the success of the business, but it must also be about keeping employees engaged and motivated to truly be effective in retaining them for the long-term.

But how do you identify the areas of development? Utilise skills testing on areas that are required in the particular job role to get a gauge of what your staff need further training on, so that a tailored learning objectives can be created. Perhaps for example, you are upgrading your Microsoft Office suite across the business but many of your staff are only familiar with an older version so they therefore will need training in order to feel confident with the change.

As well as looking to provide development for your employees individually, it is also essential to offer development at a team level as well.  An effective team will be made up of a variety of different personalities who can each provide something different to the team, but this can also lead to problems in making the team bond well together. Some personalities are known to clash or react differently in situations. Utilise psychometric testing to help provide your management teams with clear guidance on how to maximise their teams effectiveness and communication. The results can help everyone within understand others, adapt their behaviour accordingly to connect successfully and ultimately how best to communicate with each other.

Retain Talent

After you put in the time, effort and investment to hire the best employees possible, you need to find ways to keep that talent. Retaining talent is all about employee engagement- giving employees the right feedback, incentives and support to improve staff retention which is critical to the long-term health and success of your business. Failing to retain a key employee is costly to the bottom line. There are lots of stats detailing the cost of a wrong hire- an Oxford Economics report concluded that the bill for replacing a single member of staff can be as much as £30,000 in time, recruitment, training and productivity.

People Management have quoted that just 4% of HR Leaders feel that their appraisal system or processes are effective. The typical top-down performance appraisal is on the decline as this type of year-end reviews are too often rushed and an in-genuine process. Consider revamping or replacing your year-end reviews with a more direct and honest way of communicating such 360 degree feedback. Performance 360 is an ideal tool for improving staff appraisals and encouraging individual development. It allows views to be obtained from different sources at all levels in your organisation rather than just the traditional top-down feedback method.

 

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