Issue link: https://www.e-digitaleditions.com/i/330423
[ 43 ] JUNE 2014 | www.hrotoday.com Market Insight their entire workforce—compared with only 11 percent of mainstreamers and 6 percent of laggards. Of note, the response of the largest percentage of laggards (38 percent) was, "Yes, we have a workforce segmentation model, but we don't use it." 6. Embracing cultural diversity. As companies spread geographically and compete for top talent in all corners of the globe, an organization's ability to support a culturally diverse workforce is an increasing differentiator between high and low performance. The proof is in the survey data: 69 percent of leaders rate their ability to "empower workers of diverse cultural backgrounds to work in their own styles while contributing to common business objectives" as very effective—compared with only 5 percent of laggards. Expanding the results to also include those who rate themselves as effective, the survey found that a full 95 percent of the leaders are empowering workers of diverse cultural backgrounds, compared with 50 percent of laggards. It's noteworthy that 80 percent of the mainstreamers also chose effective or very effective, and that 16 percent of laggards chose ineffective or very ineffective. "Contemporary diversity and inclusion policies need to go beyond those of only race and gender and reflect more fully the diversity of thought and cultural experiences," says Marks. "Top talent is increasingly mobile and found throughout the world. An organization's ability to attract and support the work-styles of a culturally diverse workforce will help them win the war for talent." 7. Effectively motivating workers of all generations. Leaders excel at meeting the varying needs and aspirations of workers from different generations, including Baby Boomers, Gen-Xers and Millennials. When asked to assess their ability to accommodate different generational requirements, leaders were three times as likely as mainstreamers (61 percent versus 21 percent) and 10 times more likely than laggards (6 percent) to rate themselves as "very effective." As Baby Boomers who have hired Gen-Xers—and raised Millennials —there are challenging gaps to bridge. "Organizations need to enable their leaders to use different strategies to manage and engage employees of different generations. There is no one-size-fits-all strategy even within a single generation," comments Marks. "Flexible policies and practices should be created that appeal to the motivations of individuals, regardless of age or level of experience." 8. Utilizing an effective value proposition to attract top talent. Across the board, the survey respondents agree on the importance of developing a strong value proposition to attract top talent. Of note, leaders not only rate themselves highly in the various aspects of workforce management already discussed—but they also keenly advertise the fact. Eight-one percent rate the quality of their organizations' employee value proposition as very effective when it comes to attracting the top talent needed to achieve growth, compared with only 13 percent of laggards. "Once organizations have established an EVP they need to ensure that it is actively promoted where the target top candidates are—in social media, within organizations and associations, shared by current employees," informs Marks. "Having an EVP and keeping it within the organization does not provide any benefits. An EVP is only effective when it is consistently activated." Organizations that measure and quantify their workforce in order to better manage it are much more successful at aligning their talent strategies with their business goals. Companies that proactively support cultural and generational diversity along with work-life balance are far more likely to attract and retain top talent. Editor's note: A portion of this story is excerpted from Cielo's Talent Activation Index. The study included responses from more than 750 senior human resources, talent, and recruitment executives at large organizations in North America, Western Europe and the Middle East. Defining Leaders, Mainstreamers and Laggards Leaders (23 percent): Rated their performance as excellent in achieving at least two of their top three strategic objectives. Mainstreamers (52 percent): Rated their performance as good or a combination of good and excellent in achieving two of their top three strategic objectives. Laggards (25 percent): Rated their performance mostly as average, fair, or poor in achieving all three strategic objectives (companies that responded with only one good are also counted as Laggards).