How is talent acquired for making movie? Director and producers meet and discuss the plan and quickly start meeting people who are right for the movie and sign them up. Talent comes together and stays together until the common goal of making the movie is achieved. Once the movie is made, they go their ways!
This is how future entrepreneurs and companies will acquire talent for their projects: Quick, Agile, Short Term, Target focussed, professionals who equip themselves and stay relevant!
How do artists attract work?
- Visible talent display – reducing the need for several rounds of interviews
- Connections – trust is contagious!
Talent of the future will need to acquire these skills: superior display of talents and staying connected with idea generators and talent aggregators . LinkedIn is helping talent do that but it needs to be adapted more widespread!
For companies to achieve what film fraternity has achieved they will have to:
- Get out of the paradigm that employees in payroll are more trust worthy and closer to company’s mission than contingent staff
- They will need to accept to see more talent turnover and will have to drop their bench
- They need to find cheaper ways to find talent … lots of it!
- Find ways to empower talent more quickly and make transitions more smooth
- Have technology play the role of integration
- Flexible company policies
What will drive this evolution? Of course, Market volatility!
As a recruitment firm executive, I have been keenly focusing on reducing our recruitment cycle since it affects my firm’s cash cycle. However I feel so lonely in my crusade against long recruitment cycles since I don’t find any corporate executive focused on reducing his organisation’s recruitment cycle. Neither do I see any independent body such as NASSCOM evangelizing recruitment cycle reduction.
Perhaps fear of wrong hire is the primary force deterring companies from valuing benefits of a lean talent supply chain with short cycles. I would like to suggests methods to reduce recruitment cycles without compromising on quality of hire.
- I come across several companies that have series of interviews for investigating the same skills. When we trust employees with company secrets and business critical decisions, why wouldn’t we trust an employee to rightly gauge the skills?
- There are several HR consulting firms that offer predictable and consistent psychometric tools to gauge suitability of a candidate. Wouldn’t use of such tool make life of candidate easier, more transparent and faster!
- Systematic telephonic interviews conducted by Gallup consulting is all too popular. In simily, interviews could be outsources thus reducing TAT. Also tapes of such interviews could be heard by the hiring managers during their leisure.
- Companies could use their corporate sites to provide more information about the company and allow candidates to explore more ways to find out whether they want to be working in the company they are applying rather than taking an offer and then researching whether they would want to join.
There are several other ways, but essentially, what I would like to convey is that one could adopt faster processes for recruitment without reducing quality of hire.
In spite of having good recruitment processes, we would have bad hires, and its essential to have an established process of eliminating bad hires systematically. If we could reduce TAT of finding and eliminating bad hires then A nimble short TAT recruitment process would further compliment the talent supply chain.
While companies indulge in lean management of other passive assets, they fail to attribute justifiable thought to wards management of human assets and talent supply chain.
People are the greatest asset of any company and it is imperative that a nimble and time efficient recruitment cycle is adopted to manage this great asset.