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Unravelling the Spaghetti Matriciana (aka the crazy labour market)

Three steps to hiring the best talent and at the right price.

Confused? It’s not just you. Right now the whole labour market is like a bowl of starchy spaghetti and you need to be super dextrous to unravel the threads to sate your appetite. You want the talent, but you and countless others can’t afford the premium. In this blog, we’re setting out the three fundamental steps to beating the competition in order to hire the talent you need. We suggest you don’t even try and make sense of the macro data – we’ve been listening to the economists too and none of them has nutted out the strange equation of the current Australian labour market.

Step 1.

Understand the value of high performing and high potential talent.

These two categories of employees are gold. Make sure you identify what you are looking for in a new hire – do you want this person to perform in the same capacity for ever after, or step up in the future? High performers are shown to deliver up to 4x the productivity of your lower average performers, but will your organisation be able to create the culture for a repeat of that high performance, or to bring out the high potential in an almost there candidate? Sort this out so you know what gap you’re filling.

  Low Potential High Potential
High Performers Regularly exceed benchmarks
Lack skills to perform at a higher level
Set standard of behavioural excellence
Model leadership and cultural values
Low Performers Little-to-no aptitude
Repeatedly fail to deliver
Have above-average aptitude
Show inconsistent performance

Step 2.

As we’re back in the war for talent, have a co-ordinated hiring (attack) strategy agreed and set.

Take it from the troops on the ground – too many hiring organisations are losing out on good talent because of one simple fact – disorganised, muddled hiring processes. Hope and winging it will not land you high performing talent. Time delays, poorly prepared interviewers, managers who don’t understand the current labour market, and poor engagement will set you back in the bunker time and time again while the good talent is signed up to your competition. Take extra time up front to prepare your approach and timeline. If you’re the Commander, bring your internal Officers in on your approach early, and then make military-style moves.

Step 3.

The salary package you have on offer is important but for some organisations, top quartile compensation isn’t an option. What to do? Our advice is have the remuneration and benefits conversations early on – it saves time, money and heart-ache when late on in a negotiation it’s a deal breaker. And again, salary is only one part of the equation – make sure you’ve identified all the attractive benefits of working with your organisation – some of which you may take for granted, but which are great attractors. What else do you offer? Extra paid leave days, a good workplace and amenities, tailored professional development, culture and values alignment, wellness benefits, clear career paths, flexibly work schedule, recognition and rewards etc. Write them down and share with enthusiasm.

Bring them in and they will build!

What is your world @work?

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Posted in Slade Executive, The world @work

EVP now means a partnership, with flexibility and the opportunity to contribute to a bigger picture

We’ve moved on from the Employee Value Proposition (EVP). Certainly a great working environment, progressive organisation culture, and the right level of remuneration with associated benefits are attractive to highly talented individuals. However, more and more I am seeing both organisations and candidates searching for the ultimate partnership between employer and employee.

Organisations want talent who can deliver, no matter what the situation. At executive level, there’s an expectation of availability (or at least to be contactable) 24/7, no matter what time zone and what time of the year… my New Year’s Eve phone calls are still ringing in my ears! Top performers are keen to have greater flexibility and accountability, including the hours, locations, scope of work and the projects they have the opportunity to work on. Working together embraces all of these ideals and both parties have a critical responsibility to adapt their approach to work in today’s marketplace.

Increasingly our life is more about want-want-want – just ask my teenage kids who want more than I can provide! As a consumer society, we often lose focus on the importance of empathy, compassion and giving. Nevertheless I believe we all want something that we can connect with, whether that be emotional, spiritual, financial or another reason. Going to work every day for a higher purpose is fulfilling. I am literally hearing from candidates the need to work in an environment where “I know I can make a difference”. To facilitate this, you must have an environment that places the bigger picture at the heart of its purpose, right?

Last year Salesforce was awarded the highest honour of #1 Best Place to Work in Australia. It’s worth asking, what do they do differently? The company adopts the Hawaiian spirit of Ohana (meaning ‘family’), which obviously resonates if you’ve ever met someone that works there or read some of their employee testimonials. Along with their 1-1-1 Corporate Philanthropy Model, where 1% of tech staff are allocated to supporting not-for-profit enterprises in Australia, Salesforce has also taken a stand on social issues, including gender equality and marriage equality.

Let’s not forget that understanding the customer is also paramount. We should aspire to achieve great partnerships with our clients, as well as our colleagues and our employer. Observing an organisation who values both the needs of customers and its own people will attract like-minded talent who are also a good cultural fit. Makes sense, doesn’t it?

If you’re a candidate, don’t be afraid to put yourself out there on what your real EVP looks like (I’m hinting it’s probably not a slide in the office). Employers, give and you shall receive in spades.

What’s unique about your value proposition as a candidate or an employer? How has your organisation adapted to these changing dynamics in the world @work?

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Posted in Consumer, Sport & Entertainment, The world @work