AUCKLAND, New Zealand, April 11, 2012 /PRNewswire-Asia/ -- Futurestep, a Korn/Ferry company (NYSE: KFY), today released a white paper, "Creating the people edge" based on a survey with Australasian business and talent leaders, that analyzes how people affect business performance and the close link between a well aligned recruitment function and business performance.
According to the Futurestep white paper, the majority of business leaders interviewed agreed that while technology and other efficiencies could be duplicated by competitors, the workforce could not be replicated. The people factor was viewed as the biggest lever available to create competitive advantage. Business leaders believe that talent is a game changer that can make or break a business.
However, whilst the findings indicate an almost universal recognition of the importance of people to business success, there exists a major disconnect in how business leaders view and define recruitment success compared to the way talent leaders are being measured. The language of success for business leaders is quality, while talent leaders are being measured on success through efficiency measures. While close to 70% of talent leaders measured time and cost to hire, only 11% measured new hire productivity and 39% measured new hire performance.
Not surprisingly, talent leaders across the board recognized a missing opportunity to integrate workforce planning into business planning.
To help maximise the impact of the recruitment function, Futurestep has outlined a 3 stage framework, encompassing implementing quality measures, workforce planning and business alignment.
Nick Simcock, Managing Director New Zealand, Futurestep said, "Talent leaders across Australasia are recognizing the link between recruitment and performance as key to ongoing transformation and impact of their recruitment function."
Simcock continues, "People provide the main competitive advantage in organizations; forming the lifeblood, driving profit, revenue and growth. Yet, even recognizing this critical factor, there is a dangerous disconnect between talent leaders and business leaders when it comes to measuring the language of success for recruitment."
Jeremy Paynter, Director Client Solutions New Zealand, Futurestep said, "Through our research, talent leaders and business leaders acknowledge the impact of people in an organization. The challenge is to move beyond recognition of this fact, and hold the business to account for its hiring decisions. Only when organizations begin to action this will they be able to fully optimize the recruitment function completely; making strong hiring decisions, obtaining staff that bring impact, be it long-term or immediate, thus taking full advantage of one of the biggest competitive levers available to a business today – people."
To download a copy of the white paper, please visit www.futurestep.com or contact Jeremy Paynter at Jeremy.Paynter@futurestep.com.
Methodology
Futurestep invited a number of Australasian business leaders to discuss "how recruitment provides your business with competitive advantage" in an online survey and combined the insights with input from 50 Australasian talent leaders from a variety of leading companies for qualitative discussion.
This white paper draws on the findings of those discussions and our own expertise to reveal how a disconnect between talent and business leaders can be bridged to provide companies with, The People Edge.
About Futurestep
Futurestep is the global industry leader in high-impact recruitment solutions; offering fully customized, flexible services to help organizations meet their talent and recruitment needs.
Our clients turn to us for proven expertise, a global process and infrastructure, proprietary competency models, innovative sourcing and attraction strategies, and a unique approach to measure and optimize business impact.
As a Korn/Ferry Company, Futurestep can meet a variety of workforce requirements; from RPO and project recruitment, to search and consulting, our solutions apply a truly world-class capability to deliver talent with impact, providing the experience and global reach to identify, attract and retain the people who drive business success. To learn more, visit www.futurestep.com.
About Korn/Ferry International
Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, engaged, develop, and retain their talent. Visit http://www.kornferry.com for more information on the Korn/Ferry International family of companies, and http://www.kornferryinstitute.com for thought leadership, intellectual property and research.
About The Korn/Ferry Institute
The Korn/Ferry Institute generates forward-thinking research and viewpoints that illuminate how talent advances business strategy. Since its founding in 2008, the institute has published scores of articles, studies and books that explore global best practices in organizational leadership and human capital development. For more information, visit www.kornferryinstitute.com.
