Unified talent models drive competitive advantage to recruit and retain employees

January 5, 2022 | 3 minute read
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Companies have struggled for years to develop a model environment where HR, recruitment, and learning and development functions work well together to support a strong cross-functional corporate culture around talent. Organizations will invest in a new talent management model when they can't attract the right people to fill talent gaps, retention rates decrease, and they can't adapt fast enough to compete under current market conditions.

Fortunately, existing technology like Oracle HCM Cloud supports and enhances many talent management functions. As noted in the diagram, most of these functions have been standard parts of the talent function for a long time. Some have only recently become possible and are rapidly becoming essential for any company.

For example, the digital assistant is a chatbot that is available for employees to find out information about positions or training opportunities more readily without working with a person. 

Artificial intelligence helps identify qualified internal and external candidates. 

Effective succession planning was traditionally focused on senior employees. However, today's technology allows companies to include staff farther down the ladder in the process. Companies need to identify their top talent wherever they are on an org chart and then plan to build and grow those people from within the organization.

Unified talent model

Oracle Cloud HCM is just one example of a sophisticated unified talent model. It has three core parts – a better candidate experience, a lifelong learning approach for employees, and technology supporting new skills to match new market opportunities.

Better user interfaces make for a better candidate experience when people apply for a job. More and more candidates expect a mobile-friendly system that incorporates social media platforms. Creating a better candidate experience extends to the screening questions a company uses, as those can help applicants better understand how their skills align with their needs. The application process can convey to candidates what it's like to work in a particular team and the overall organization.

Lifelong learning is a commitment by employers to develop talent from within the organization, as opposed to constantly looking to other companies to find talent. While individual employees are ultimately responsible for pursuing appropriate learning opportunities, organizational leaders are also co-responsible for guiding employees along specific learning paths.

Lastly, companies have to be proactive with their skills development offerings to match new opportunities in the market and further enhance the skillset of internal employees. Companies need to work with finance, marketing, and growth teams to identify market segments where the company may want to expand and then look at the internal inventory of existing skills and talents to build and develop gaps.

Talent as a competitive advantage

Companies that focus on improving recruitinglearning, and talent management because they see them as a competitive advantage. Once companies have identified essential internal skill sets, they can use that information internally (to direct required learning of existing employees) and externally when looking for candidates. One of the best things a recruiter can hear is a candidate who takes a position and says, "I'm coming to work for you, not because you had the best offer, but because I had the best experience with you."

Robust, coordinated talent development programs may have fallen out of favor in the past because the market compelled companies to change focus. But now, the market is telling companies that they can build a strong business case about the ROI on a market-leading, technology driven talent program.

For further insight, read the full webinar recap here

Learn more about Oracle Recruiting

How does your organization's recruiting strategy look as we head into the last few months of 2021? Whether you've successfully adapted to the new normal or are still looking for direction, we can help provide appealing experiences to candidates and efficient tools to recruiters. Oracle Recruiting, a part of Oracle Fusion Cloud Human Capital Management (HCM), is a complete and unified solution that helps teams attract and hire the right talent.

 Learn more today at https://www.oracle.com/recruiting.

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Jeff Haynes

Jeff Haynes is Director - Enterprise Solutions and Services at Baker Tilly.

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