Event Summary
Date: April 3, 2024
Location: Rosemont, IL
Summary: In our recent event focused on talent acquisition and retention, industry
leaders shared valuable insights and strategies for attracting and retaining top talent. The discussion covered various aspects, including the importance of inclusive job descriptions, leveraging analytics for internal talent development, and maintaining employee engagement in remote work settings.
Key Takeaways:
- Talent Landscape Statistics:
- According to the Bureau of Labor Statistics, there is an estimated 6.5 million available job seekers for the estimated 8.9 million job openings. This has companies struggling to find the right employees, with the right skill sets, in the right locations. In fact, 69% of employers found it difficult to fill open positions and another 40% indicated that finding candidates with the appropriate skill set was challenging.
- It is estimated that turnover can cost as much as 33-200% of an employee’s annual salary. At the same time, approximately 51% of employees would consider a new opportunity if it presented itself. This level of openness to new opportunities can easily be mitigated. Employers that invest in their employees are 94% more likely to retain the employees.
- Employee engagement remains a critical factor, with only a fraction feeling highly engaged at work. Simple things such as employee development not only increase engagement, but data suggests that engaged employees deliver nearly 25% more profit to the bottom line.
- Anna Connolly from Verano emphasized the importance of aligning job postings with company values and highlighting unique selling points to attract.
- John Wooster from Halo discussed the significance of internal talent mobility and utilizing analytics to understand the workforce.
- Mary Kay Baldino from R1RCM highlighted the role of competency models in structuring performance management and fostering leadership.
Recruitment Strategies:
- Strategies included focusing on quality job postings, emphasizing company culture, and leveraging engagement surveys to understand employee.
- The panelist emphasized the need for continuous learning and development opportunities to retain and develop.
Featured Speakers:
- Anna Connolly, VP at Verano
- John Wooster, Head of Talent at Halo
- Mary Kay Baldino, Senior Director TA at R1RCM
Next Steps:
- Implement inclusive job descriptions and recruitment.
- Leverage analytics for internal talent development and succession.
- Prioritize employee engagement and continuous learning.
Feedback: Attendees appreciated the practical insights shared by the panelists and found the event valuable in shaping their talent acquisition and retention strategies.
Upcoming Events: Stay tuned for future events focusing on leadership development and organizational culture. A schedule of events can be found at www.advancedresources.com/latest-events/.
Contact Information: For future inquiries or to discuss collaboration opportunities, please contact Betsy Linhart, VP of Client Engagement at blinhart@advancedresources.com.
Thank you to all participants for contributing to a successful event focused on talent
acquisition and retention strategies!
