Defining Talent Management
In Today’sWorld
Brad DugganRegional Sales Manager, Cornerstone On Demand
Topics
• Defining Talent Management• Why Practice Talent
Management?• Facts and Figures Behind a
Talent Management Culture
DefiningTalent
Management
Traditional Employment vs.Talent Management Focus
• Traditional Employment Focus• Skills and Education• Duties and Responsibilities• Some Characteristics (strength, repetitive, endurance, etc.)• Experience
• Talent Management Focus – Traditional + More Scrutiny • Traits• Behavior • Talent
EMPOWERING PEOPLECornerstone & Cornerstone OnDemand are registered trademarks of Cornerstone OnDemand, Inc. Cornerstone OnDemand ©2010
Why Now?
7
Driver 1
Driver 2
Driver 3
Why Talent
Management?
Typically, we are hearing 50-60% of academic budgets are being spent on compensation (including fringe benefits) which includes:
• Faculty• Staff• Wage employees • Graduate teaching & research assistants
Source: http://www.virginia.edu/finance101/answers.html
Cost of Employee Turnover• SCARY: It may cost as much as 150 percent of the salary to replace a management position.
(The Average Cost to Hire a New Employee).
• SHRM, estimated that it costs $3,500 to replace one $8.00 per hour employee when all costs — recruiting, interviewing, hiring, training, reduced productivity, et cetera, were considered.
(What Employee Turnover Really Costs).
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Now that we looked at the numbers, why does employee development matter so much in Higher Education?
WHO
WHAT
WHERE
WHEN
HOW
Work is Changing
The New Workforce: MILLENNIALS
IN 2020 HALF OF OUR WORKFORCE
WILL BE MILLENNIALS
50%
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Demands of the New Workforce
TRAINING &DEVELOPMENT
FLEXIBLE HOURS
CASHBONUSES
FREEHEALTHCARE
MOREVACATION
1
FREECHILDCARE
2
3
456
PROCESS ANDAUTOMATION
HR Needs Have Changed
INTERACTION AND COLLABORATION
“It’s very difficult for most state agencies to get some of the better employees because certain government positions don’t pay as much as private industry jobs. With Cornerstone Learning, we’re showing candidates we’re willing to invest in them.”
– DENNIS HOLMAN, TRAINING MANAGER, SOUTH CAROLINA DEPARTMENT OF TRANSPORTATION
HowCan
Cornerstone Help?
One solution to recruit, train, manage, develop, and connect your employees.
Unified Talent Management
1. CORNERSTONE RECRUITING
2. CORNERSTONE ONBOARDING
3. CORNERSTONE CONNECT
4. CORNERSTONE LEARNING
5. CORNERSTONE PERFORMANCE
6. CORNERSTONE COMPENSATION
7. CORNERSTONE SUCCESSION
1 – User Experience
1 – Upgrade Path
1 – Support Team
1 –Reporting Engine
Ellucian Talent Management Partnership Beyond Technology
The Power of Partnership
PLATFORM
THANK YOU!