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10 Reasons the Human Capital Zeitgeist Is Emerging

March 20, 2012 15:30 by Ann Pace

(From Forbes) -- The race for skilled talent is picking up speed and could have long-term implications in the job market. A Human Capital Zeitgeist, is emerging as companies big and small are getting smacked with the realization that talent management is SO critical to competing in a volatile marketplace, they might actually have to throw a bit more respect at the “human” in the human capital equation.

This socio-cultural shift must address the work-life merge and worker satisfaction, like never before. Imagine a new workforce era ruled by a culture where human capital is cherished, instead of demoralized and asked to do more –for less of a paycheck.

Recent studies speak volumes. Despite what Federal Reserve Chairman Ben Bernanke described as “an uneven and modest recovery.” Fully engaged skilled employees are fast becoming a desperately needed commodity, even in a climate of high unemployment as I wrote in my recent Forbes post last month C-Suite Beware: This Could be the Year of the Employee Backlash.

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Categories: Human Capital | News

Talent Management When the Old Outnumber the Young

March 15, 2012 14:30 by Ann Pace

(From HBR Blog Network) -- The population used to be shaped like a pyramid: lots of young people, a medium number of middle aged, and a few old folks. But the demographic geometry has changed radically in just the last few decades in many parts of the world — and will shift further over the decades ahead in still others. We now have diamond- or rectangular-shaped populations in many countries and will at some point have inverted pyramids — the old will outnumber the young.

The United Nations' most recent study on demographic trends confirms these changes and puts to rest any assumption that the pyramid-shape will return. The former ratio of old-to-young already no longer exists in many countries and, much of the world will soon follow. Yet many of our talent management practices today are derived from this old idea.

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5 Ways Young Professionals Want to Be Led

March 13, 2012 13:00 by Ann Pace

(From Forbes) -- Recently, my organization facilitated a roundtable session with fifteen young professionals. Their main concern was how to advance in a multi-generational workplace. Several of these young professionals felt that they didn’t belong or fit in their workplace; they were uncertain about who to trust and didn’t respect the manner in which they were being led. These young professionals were eager to learn the best ways their generation could take control, influence their workplace culture and start performing at the highest levels. They wanted to get noticed, create impact and at the same time discover how to start generating more income and accelerate their advancement.

This three hour roundtable was intense, but we successfully identified what these young professionals were really looking for: how to most effectively teach their baby boomer bosses how they seek to be led. As one young professional said, “if my boss understands how I am wired to work, I will not only teach the organization’s old guard how to lead my generation, but my performance will help contribute to the organization’s success. I will make them more relevant.” This confident perspective changed the conversation and helped to define the following top five ways young professionals want to be led by their baby boomer bosses.

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The Business Impact of Talent Intelligence

March 8, 2012 12:00 by Ann Pace

(From marketwire) -- Taleo Corporation, a global leader of SaaS-based Talent Management solutions, in conjunction with partner Human Capital Institute (HCI), today released a research report on the economics of Talent Intelligence. The report, based on an extensive survey of more than 600 global organizations, examines the far-reaching economic impact of talent intelligence, identifying connections between its use and overall corporate performance. The report reveals the companies that best satisfy the demands of their leaders are those that place heightened importance on and provide greater visibility into workforce data, delivered in a way that empowers managers to make more informed, rapid business decisions. Talent Intelligence remains a key differentiator in today's hyper-competitive world where the human capital of an organization is its principle engine of production.

As the global economy continues its slow recovery and organizations grapple with an uncertain business climate, the ability to define current and future talent needs and vulnerabilities is essential to success. Companies on the leading edge today are using Talent Intelligence in combination with other business information to drive critical decisions. They are leveraging Talent Intelligence technologies to provide historical, current, and predictive views of the workforce and its direct impact on business operations.

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Categories: News | Research

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Help! My Talent Management Provider Has Been Acquired!

February 16, 2012 13:00 by Ann Pace

(From Blogs: Software Advice) -- Last year, you convinced your leadership team to purchase Taleo’s talent management suite to streamline hiring, onboarding, performance review and learning management across every department. You were just getting productive with it when–surprise!–it was announced last week that Taleo was acquired by Oracle.

And you’re not alone. In December, another large ERP vendor, SAP, acquired talent management software provider SuccessFactors. While an acquisition in and of itself may not be cause for concern, how it impacts your organization is something leadership expects you to manage with care.

Your executives will be coming to you with questions. You need to be prepared with some answers. To lend you a hand, I’ve put together some suggestions on managing the uncertainty that is often associated with acquisitions like these.

1. Take a Deep Breath. Before you hit that panic button, rest assured that very little is going to change in the near-term. Your vendor will continue operating as an independent entity until the dust has settled.

As Dan Finnegan, CEO of Jobvite, points out: “Everything will be frozen until the deal is done.”

In the longer-run, though, things can go either way. It’s possible that SAP and Oracle will flex their financial muscles and tap their vast development resources to significantly improve SuccessFactors’ and Taleo’s already solid products. It’s also possible that the level of customer service you were accustomed to will change–for better or worse–because now you’re working with a behemoth instead of a smaller company. The point is, something will change, but it’s too early to tell what.

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Oracle Shakes Up Talent, Performance Management

February 16, 2012 13:00 by Ann Pace

(From Information Week.com) -- Last week, Oracle announced it would acquire Taleo for $1.9 billion, in a move widely interpreted as a reaction to SAP's $3.4 billion acquisition of SuccessFactors. Also in the last few months, Salesforce.com acquired Rypple, a maker of social software for employee recognition and performance management.

These moves reflect the growing importance of cloud computing to enterprise software, as well as recognition that software built around people – rather than documents or transactions – holds promise as a source of profiles for social software and a means to engage employees in social collaboration.

The question is whether established enterprise software companies like SAP and Oracle are the right ones to deliver on that promise. Very quickly following Oracle's announcements, Taleo competitors began floating offers to rescue Taleo customers from Larry Ellison's clutches and migrate them to alternative cloud services for applications like online recruiting.

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Tips for Identifying and Recruiting Top Talent In 2012

January 26, 2012 12:00 by Ann Pace

(From Business Wire) -- "In 2012, companies looking to successfully add top talent to their company need to be aware of the shifting dynamics in the recruiting arena and become even more strategic in their approach,” said Cindy Lu, CEO of The Novo Group, a national managed recruitment outsourcing firm.

Novo has developed some key recruiting tips and strategies for successful recruiting in 2012:

  • Recruiting Passive Candidates: Understanding the differences between active and passive candidate recruiting will be a big competitive advantage in 2012. The typical process for searching out top-notch passive candidates takes more time and requires dedicated recruiters with industry-relevant experience and connections.

    According to a recent Linked In survey, 78% of employed professionals stated that they are interested in a new position, yet ONLY 18% of them had their resume posted anywhere. So, a full 60% needs to be found! A successful recruiter has the knowhow and contacts at targeted companies to recruit those top-notch “passive” candidates.

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How Social Business Leaders Lead: Talent Management and Recruiting

January 26, 2012 12:00 by Ann Pace

(From Forbes.com) -- Talent management gets a great deal of attention in social business particularly in the human resources department. Fundamentally, it is a question of if talent acquisition and personnel development are changing dramatically in the light of huge jumps in connectivity through social networks as ways to find jobs and learn from others. If there are changes to how businesses work with talent, what might they be? At Enterprise2.0 conference Santa Clara, I caught up with Tim Young, the former CEO of Socialcast, and now VP of Social Enterprise at VMware to ask this question (following my prior post on Mr. Young’s thoughts).

*Note: This is a continuation of my series, How Social Business Leaders Lead, focusing on how leaders of existing social businesses are evolving their own skills, along with their views of future models of work, the evolving nature of management, and the evolving structure of the organization.

Rawn Shah: What do organizations do for talent management?

Tim Young: “I think, a lot of companies today will tell you ‘We spend a lot of money to hire the best talent,’ [or] ‘We spend a lot of money to retain our best talent,’ but when you ask what do [they] do in between those two junctures to develop that talent, there’s not a lot going on. I think organizations [that] recognize that opportunity to develop people, really develop their people, not just send them to a seminar every month, but actually really develop that talent and nurture them. Those are the organizations where people really want to work.”

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All Cream and No Bottle—The Talent Management Challenge

January 10, 2012 16:30 by Ann Pace

(From HRMagazine.co.uk) -- Talent development and talent management are not entirely synonyms: the former is an intervention applied to some or all of the people in an organisation, while the latter is a matter of strategy that should ideally be seen as 'husbandry' activity – maximising the human resources of the organisation by the judicious and informed application of its non-human resources. (Or 'time, money and energy', in plainer speech.)

Talent management is a far more complex discipline than simply skimming the cream from the milk – good use has to be made of the skimmed milk and care taken to prevent the cream from curdling. Simple pampering of the 'winners' is not the answer, although an element of it will be required – those with the ambition to rise tend also to expect more than a modicum of special treatment to keep them onside. A 2010 Harvard Business Review article showed that 25% of Hi-Pos expect to be working elsewhere within a year (no doubt a higher percentage were less candid with their current employer).

One of the conundrums for the talent manager is to strike the right balance between talent identification and fairness. Grounds for the identification of potential are not as straightforward as they might seem: current performance is no guarantee of future potential, especially when what will be performed may be substantially different from the individual's current repertoire. Selection needs to factor in more nuanced criteria: individual learning agility and the motivation to learn and improve are just two, and they are in turn influenced by reward and recognition practices. That does not mean that informed selection is impossible, but it does take more effort and insight than is often allowed.

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Categories: International | News

Healthcare Talent Crisis Driving Boost in Human Capital Management

December 20, 2011 15:30 by Ann Pace

(From World News Report) -- Healthcare providers' ability to deliver care is more contingent upon people than any other variable, according to the KLAS report, "Human Capital Management: Finding the Right Vendor Mix." KLAS found that many providers are feeling tremendous pressure to replace, acquire, or interface human capital management (HCM) solutions to improve the recruitment, training, utilization, and retention of staff.

While most providers already have an HR/Payroll application--the foundation of an HCM system--as well as Time & Attendance (TA) and Staff Scheduling systems (SS), many are boosting their HCM approach by looking to acquire Talent Management applications, which include Talent Acquisition, Learning and Development, Succession Management, Compensation Management, and Performance Management.

Whether they plan to go with one of their existing vendors or bring on a new vendor for these Talent Management applications, providers reported that integration is the key. One Financial Systems Manager of a 200-bed hospital said, "HCM integration is absolutely essential in today's environment. With ACOs on the horizon and cutbacks to our system, we can't manage our human capital if our systems don't speak to one another."

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