Other parts of this series:
- Gender Gap in Finance & How to Navigate the Upcoming Wave of Retirement in Insurance – Talent & Organization Weekly News Update
- Myths That Inhibit Insurance Innovation & 11 Ways AI Will Change HR – Talent & Organization Weekly News Update
- UK Makes Strides in Gender Diversity in Finance & How to Build a Talent Supply Chain – Talent & Organization Weekly News Update
- Gender Balance is Crucial in Bank Boards & The Top Challenges Recruiters Face – Talent & Organization Weekly News Update
Here are the top news stories in talent & organization from this week.
UK’s Women in Finance Charter expands
A further 67 companies have signed up to Her Majesty’s Treasury’s Women in Finance Charter, including ANZ, BNP Paribas, Equifax and JP Morgan. This takes the total number of signatories to 272 and covers more than 760,000 financial services employees in the UK, according to the Financial Reporter. “From banking to asset management, too few women get to the top in financial services. That’s why it’s so important that firms sign our Charter and commit publicly to take action,” said John Glen, Economic Secretary to the Treasury. The charter asks firms to commit to four actions for gender equality: having a senior executive accountable for diversity and inclusion, improving gender diversity in senior management, publishing their progress annually, and reducing the gender pay gap among senior executives. More than 85 percent of the signatories have committed to have at least 30 percent women in senior roles by 2021, while more than 25 percent have committed to a 50/50 gender split in senior roles by 2021. “I am delighted we have more than 270 companies committed to HM Treasury’s Women in Finance Charter. Gender equality and diversity is integral to creating a fairer, more prosperous society. But there’s still more to do and we will keep going until every organization is signed up,” said Jayne-Anne Gadhia, the UK Government’s Women in Finance Champion.
Four steps to building a talent supply chain
Millennials, the gig economy and the ever-widening skills gap have had an impact on the talent marketplace, writes Sushman Biswas for this HR Technologist piece. He outlines four foundational steps to agile workforce planning: 1. Establishing a resourcing strategy that combines a mix of buy, build and borrow. 2. Shaping and managing demand by taking into account where business is headed and what the company will look like in five years. 3. Aligning people, processes and technology by building a talent supply chain governance council. 4. Deploying analytics to measure the business impact of both resource inputs and work outputs. “Armed with data and insights from the entire supply chain, employers can create robust, resilient talent pipelines designed to meet current business objectives while being agile enough to adapt to future needs as well,” Biswas concludes.
How to get top candidates to say ‘yes’
“You can’t just post a job anymore and expect the perfect candidate to apply,” writes Ryan Burkhalter in this WilsonHCG blog post. “You have to personalize your messages and share the unique pros on why they should leave their current position and why the opportunity you are presenting is better than what they have.” To accomplish this, recruiters and employers need to know their company inside out, from benefits to work/life balance and overall culture. Burkhalter also emphasizes the importance of career progression and feedback. Networking and referrals are also essential to finding the right candidate in a competitive market, he argues. “Always remember… great people know great people. Connect with them and this could give you access to a wealth of similar candidates with the specific experience and skills you are looking for,” Burkhalter writes.
The benefits of XR for employee relations
Last week, The Telegraph featured an article by Daniel Le Jehan, Accenture’s managing director for strategic growth initiatives in EMEA and Latam, on the impact of extended reality (XR) on customer and employee relations. For Le Jehan, XR offers the potential for remote team members to connect and collaborate in real time that was not possible previously. “As well as improving productivity and performance by avoiding the delays of bringing people and data together, virtual design collaboration reduces design costs significantly,” he wrote. Another strength of XR is its ability to deliver training experiences for those working in potentially dangerous environments. “For example, in defense, emergency services and oil and gas industries, XR can simulate these environments without putting trainees at risk,” Le Jehan wrote.
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