Strain had been building within The Beatles during the recording of their White Album in 1968, and exactly 45 years ago today those taught strings of tension finally snapped; drummer Ringo Starr officially quit the band—informing John, Paul and George of his intent to “go on holiday.” Despite the falling out, Mr. Starr returned just 11 days later after receiving a telegram that read, “Come on home.”
Also on this day five short weeks ago, Pinstripe began the Talent Acquisition Fast Facts series. But we’re not going anywhere. Each of the past four Friday afternoons Pinstripe has presented a variety of facts touching on the most pressing issues pertinent to HR, talent acquisition and Recruitment Process Outsourcing (RPO); and continue to present we shall!
“Come together, right now”—and enjoy talent acquisition on the Rin-go:
58% of talent managers say helping a company maximize its profitability is the primary reason they are in HR; similarly, talent managers with more capitalistic reasons for being in HR report faster career growth.
–New Talent Management Network, 2013 State of Talent Managers Report
Research present through May 2013 indicates 36.7% of recent college graduates have jobs that do not require a degree; this compared to 27.4% in 2007, 31.4% in 2010 and 34.3% in 2011—suggesting a growing trend.
–Center for Labor Market Studies at Northeastern University
In a broad survey of HR executives, respondents were asked about the challenges to managing their talent effectively; the most noteworthy challenges reported include:
- 83% of respondents believe, “Many of our managers do not know how to manage people”
- 78% of respondents believe, “Our talent-management processes are inefficient or antiquated”
- 71% of respondents believe, “Not having the right data” is their primary roadblock
- 58% of respondents believe, “Our leaders do not buy into talent management”
-Knowledge Infusion, Fifth Annual Talent Management Study; Human Resource Executive
In a survey of 230 employers, only 37% have invested in a formal onboarding program for longer than two years; of these 230 employers, 14% have a one-day onboarding strategy and 16% indicate a one-week program—only 5% have a program between three and six months
–Aberdeen Group, Onboarding 2013: A New Look at New Hires
In a survey of 2,015 college graduates, 68% expect to be at their first job for more than three years; this compared to 49% of 2011-2012 college graduates.
-Accenture, 2013 College Graduate Employment Survey
What trends/topics would you like us to cover? Do you think a robust onboarding program would help reduce turnover, as suggested above? Are The Beatles overrated? Let us know in the comment section, and be sure to stop by next Friday for another round of Talent Acquisition Fast Facts!
Previous editions of the series can be accessed via the archives below: