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7 secrets to solving the talent shortage problem

Business Management Daily

As baby boomers retire, there’s a notable gap in numbers to fill their roles, leading to a shortage that’s felt across various industries. While this opens opportunities, it also means that organizations compete on a broader scale for the same talent pool. Benchmarking sets the foundation for sustainable growth.

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7 secrets to solving the talent shortage problem

Business Management Daily

As baby boomers retire, there’s a notable gap in numbers to fill their roles, leading to a shortage that’s felt across various industries. While this opens opportunities, it also means that organizations compete on a broader scale for the same talent pool. Benchmarking sets the foundation for sustainable growth.

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Don’t forget internal talent in workforce planning and recruiting

HRExecutive

After breaking down cross-industry data on internal hiring, we provide guidance for how to benchmark this measure and think critically about your use of internal hiring. At the very least, internal hires already understand your organization’s culture and what matters most to the business, which can help to reduce time to competency.

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Benchmarking and Surveys Gauge if Employee Benefits are on Target

Corporate Synergies

Benchmarking and surveys help employers zero in on options that workers deem valuable. Benchmarking and surveys provide solid answers. They turn to benchmarking and employee surveys to build and validate benefit plans. Enter benchmarking and employee surveys as two of the sharpest arrows in your plan design quiver.

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What is HR Analytics? All You Need to Know to Get Started

Analytics in HR

However, certain circumstances may require incorporating external benchmarking data. It includes competency assessments to apply what you’ve learned and case studies that bring HR analytics to life. We discuss more real-life examples below. Your HR tech stack or other internal data sources should house most of what you need.

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5 workforce planning tools and how to use them

Business Management Daily

Baby Boomers make up a significant portion of the company’s current workforce, and their retirement over the next few years could cause serious staffing shortages in key positions. What type of competencies will our future workforce need? Being above the benchmark should aid in attracting applicants. Skills gap.

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Workforce Analysis: HR’s Introduction and Guide

Analytics in HR

Projections are made based on turnover rates—the number of resignations, retirements, promotions, and terminations that have occurred so far—to help inform how this will affect the future workforce. Supply analysis assesses the current state of an organization, including the number of employees, their skill sets, and demographics.