Charting The Industry: A New Era of Talent Management?

March 10, 2008

Survey after survey over the past year has shown that talent management is a primary concern for senior executives. A new survey conducted by PR News and PRSA/Counselors Academy finds that the same holds true for agency execs and corporate communicators, and the results reveal interesting dichotomies.

The vast majority (83%) of respondents had to recruit at least one senior-level professional in the past year, but fewer than half (45%) feel they were "very successful" in landing the talent they really wanted.

Possible explanations for this can be extrapolated from the findings--namely, most managers (77%) found that the candidates applying for new positions within their organizations had changed jobs multiple times in the last 18 to 24 months. In the past, this would often reflect poorly on candidates, as frequent job changes could imply an inability to commit or remain focused/content in a position, but in our survey just more than half (52%) said this would actually affect a candidate's chances of being hired.

Since the business climate has shifted dramatically, candidates--not employers--appear to have the upper hand. Supporting this notion, 59% of respondents say they must offer creative benefits to compete for the best people, including flexible work space/time (29%), career/leadership development (15%) and retirement plan options (10%).

Similarly, the thing most important to top talent recruited by these respondents was salary (which ranked second); it was a better work experience/opportunities (45%).

While the survey didn't address specific reasons for this result, one factor is likely the growing number of Millennials entering the workplace, as research and reports consistently indicate that this younger generation is rewriting the rules for recruiting and retaining talent. What's more, this group is most willing to leave a job in search of something better--a testament to the high percentage of candidates who have moved frequently in the last two years.

Finally (and not surprisingly), a combined 73% of respondents say that a candidate's digital expertise is very or extremely important, further supporting evidence of a new era in talent management. PRN

Recruiting Top Talent: A PR News/Counselors Academy Survey

1. Have you had to recruit one or more senior-level exec within the past year?

Yes 82.6%

No 17.4%

2. How successful were your efforts to land the top talent you really wanted?

Very Successful 44.9%

Somewhat Successful 29.0%

Not Very Successful 21.7%

No Response 4.3%

3. What things were most important to top talent you recruited?

Better work experience; opportunities to work on certain types of business, accounts, clients, projects, teams 44.9%

Salary 18.8%

Title/Expanded leadership ?responsibilities 11.6%

Work-Life Balance 7.2%

Other 17.5%

4. How competitive is your market or ?industry niche for top talent?

Very Competitive 55.1%

Extremely Competitive 26.1%

Somewhat Competitive 17.4%

Not Very Competitive 1.4%

5. Are you finding you must offer creative benefits to compete for the best people?

Yes 59.4%

Sometimes 29.0%

No 11.6%

6. Indicate those things you are offering to recruit senior level professionals.

Career/Leadership Development 14.5%

Flexible Work Space/Time 29.0%

Retirement Plan Options 10.1%

Bonus 8.7%

Equity 5.8%

Wellness/Recreational Perks 4.3%

7. How important is a candidate's digital expertise in your talent search/recruiting?

Very Important 52.2%

Somewhat Important 24.6%

Extremely Important 20.3%

Not Very Important/No Response 2.8%

8. Do you find that candidates have changed jobs multiple times in the last 18 to 24 months?

Yes 76.8%

No 18.8%

No Response 4.3%

9. If so, does that hurt their opportunities with your organization?

Yes 52.2%

No 42.0%

No Response 5.8%

Source: PR News and Counselors Academy