Embracing talent ecosystems is a sure-fire pathway to successful talent management—or is it? We know top-performing organisations leverage multiple channels and partners to help sustain their advantage, while others have them and chase their tail for answers to their ongoing recruitment challenges. So, what prevents some organisations from fully harnessing what they have?
Rather than pouring energy into fruitlessly solving or blaming external factors, heads of Talent Acquisition (TA) should look elsewhere for answers—their ecosystem. Ignore the incoming noise, and focus on internal performance instead.
In this article, we frame up some of the hindrances in filling talent and skill shortages and propose how to leap beyond them with a robust talent ecosystem.
Many TA leaders can attest that not all talent and skill deficits are attributable to their hiring programs. Rather, workforce challenges are, to a large extent, fuelled by forces unrelated to recruitment:
Reappraisal of work values
Deloitte defines talent ecosystems (or similarly ‘workforce ecosystems’) as “a structure that consists of interdependent actors, from within the organisation and beyond, working to pursue both individual and collective goals.” To better leverage the channels through which talent is found, heads of TA must keep a watchful eye on data, gaps and relationships.
Collect insight
Leveraging internal data reveals which pockets of the ecosystem require improvement. See what kind of story the data offer by gathering insight from:
An experienced talent management partner is there to help implement the methodologies and systems that enable these insights, if necessary. They can also provide direction in the instance teams are unsure of how to interpret their data.
Identify gaps
Begin by understanding the current ecosystem makeup. This involves a comprehensive skill and talent gap analysis using the data collected previously.
Take a look at the important tasks and outcomes that require talent. The gaps will reveal themselves, but make sure to account for anticipated needs as well. TA teams are most in control when they ascertain the types of talent expected to remain in short supply. Then, define the roles and associated work requirements (if they don’t already exist).
By overlapping what’s knowable, internally and externally, teams can confidently leverage the blended workforce to fill talent gaps or supplement the skills of in-house talent.
Assess relationships
This step is simple, though crucial: take stock of the external channels comprising the ecosystem. Having a holistic view of the network can reveal hidden potential, allowing TA to maximise forgotten or under-utilised talent pools.
Second, where partnerships are in play, assess the value of what they bring to the table. Do they really support TA’s objectives and bolster its organisational value? A strategic talent partner should multiply leaders’ and teams’ efforts. The most valuable partners identify gaps and augment TA’s expertise with an actionable talent management strategy. If the cost outweighs their impact, consider engaging another partner that’s better able to meet the function’s aims.
A robust talent ecosystem can help your function flexibly source and secure talent to meet the business’s evolving needs. Regular performance assessment, and the optimisations that follow, will ensure the right talent mix is achievable on demand. In this way, your ecosystem's output can be greater than the sum of its parts.
In Harrier’s next article, we discuss why and how optimising the tech stack can lead to improved talent acquisition outcomes.