Effectively attracting, harnessing, and deploying the talent within your company is always essential, but it’s especially crucial in times of uncertainty. At Plum, we know you’re concerned about how to manage your talent needs, from hiring and workforce planning, to saving money. That’s why this latest blog post is designed to help you move your talent programs forward during the unprecedented time we’re all living in right now.
Support your current employees
Even at the best of times, workforce planning is part of your talent management repertoire, but in the wake of COVID-19, it’s front and center. Whether you’ve had to make the difficult decision to lay off some of your staff, or have pledged to keep your entire workforce on payroll, many of your employees need to shift gears and support the company in different ways to meet evolving goals. Plum can help you rediscover the talents of each employee to determine who would be a good fit for another role, which can put the right person in a new role quickly and keep your business moving forward.
The Plum Talent Guide takes the talent rediscovery feature one step further by offering details on where an individual’s strengths and opportunities lie, and is an excellent way to manage your existing workforce and coach them for the future. It’s an additional tool available to Plum customers that provides in depth detail on all 10 measured talents, providing information that can be leveraged to identify transferable talents across different roles and situations. It also provides a framework for self-reflection, discussion, and developmental action.
For employees, the Talent Guide is written in a friendly, intuitive, and positive manner, which helps them learn more about their strengths and what energizes them — perfect for career planning and professional development conversations. For HR and People teams, the Plum Talent Guide is an excellent individualized resource that shows you who in your workforce exhibits transferrable skills that enable them to succeed in other roles. By gaining this valuable insight, you can build an actionable plan to meet the changing needs of your business.
Increase efficiency and realize tangible ROI
In a time of rapid change, the efficiency of your talent programs is paramount, and Plum helps companies by providing them a tangible ROI. How do we do this? Let’s look at employee turnover: You know it’s a problem, but what you may not know is how much it’s impacting your bottom line — and a bad hire is costing you a lot more than you may imagine.
Plum addresses both concerns. First, our technology enables your hiring process to become more efficient and accurately hire the right person the first time. We help you filter through your vast number of applicants and focus only on those who are a great match, which increases your chance of hiring the right candidate and decreasing turnover. Michelle Griffin, Director of Human Resources at Homes by West Bay says finding the right personality fit for roles has helped her team cut new hire turnover by 43%.
Now let’s talk ROI. You may not even be aware of the hidden costs associated with employee turnover, and they’re all putting your ROI at risk. A study by the Society of Human Resources Management (SHRM) indicated that the wrong hire can cost you 5x the annual salary of that hire, and that’s on the conservative side.
We believe so much in the ability of our solutions to save you money that we built an ROI calculator on our website so you can see for yourself just how many precious dollars and hours your company will save when you implement evidence-based and predictable hiring decisions.
Still hiring? Shift your focus to digital recruiting
We know you’re out there! Thousands of companies are continuing to hire, many of which have ramped up their efforts to address our current global needs. If you’re still hiring, you need to take your recruitment efforts (and the candidate experience) virtual. Here’s how you can do it with Plum:
- Hiring managers and job experts can remotely collaborate to define job needs of any role with the Match Criteria Survey. This allows everyone to be on the same page — even from their home offices!
- You can invite candidates to take the Plum Discovery Survey and receive their detailed Plum Profiles virtually. This creates a customized and value-added candidate experience while providing you with key insights into candidates’ strengths and talents.
- Once you see the Plum Match scores of each candidate, you can decide what your next (digital step) will be. If the phone screen would be your next typical step, that works here! Then follow up with top candidates via video interview. We’ve even created structured interview guides to help you with the virtual interview and selection process. Want a copy? Just let us know!
In a recent testimonial, Michael Shelsen of Scotiabank says that with Plum “not only are recruiters becoming more efficient, but they’re becoming better at finding the talent within the pool of candidates.”
Plum Profiles also provide candidates with a value-added experience, since everyone who takes the Plum Discovery Survey receives a personalized Plum Profile that outlines their strengths, talents, and work style. Since candidates are missing out on the in-person interview experience and interactions with the hiring team, this additional touch point can promote a positive impression of your company.
As you adjust to all this change, Plum is here to help. We’re available to support you at every stage of your talent and people program journey. Whether it’s customizing your approach to Plum Profiles, workforce planning exercises, or rethinking your candidate experience, don’t hesitate to get in touch with us.