Are You in a Position to Compete?
In a world where organizational differentiation is often miniscule, businesses are turning within and seeking competitive advantage through their people. Why? Because everything starts with talent!
While HR leadership has traditionally been measured by its ability to save the company money, now it’s not the time to think solely about cost reduction when it comes to attaining and retaining top talent. Rather, recruiting is a value add to the company and one that warrants investment and a “win-at-all-costs” attitude. The risk of losing is high, especially in a world where digital transformation is disrupting entire industries.
If we take a look back over the last 10 years, industry disruption has been staggering. As the costs for computing decline and power increases exponentially, technological innovation keeps challenging legacy businesses and their leadership. The most recent examples are:
- While Kodak took its last breath in 2013 after 125 years in business, Instagram was sold to Facebook for $1B with 13 employees, 18 months after it was founded.
- According to Kate Toran, director of taxis for San Francisco’s transportation authority, the average monthly trips per city taxi have declined almost 65% from 2012 to 2014. Why 2012? That’s when Uber, the leading app-powered car service, entered the market.
- Airbnb is now the largest hotel company in the world measured by number of rooms.
- In 2014, Monster.com stock went down 42% and their CEO resigned. They have LinkedIn and Indeed to thank for that.
- Netflix and Redbox put the likes of Blockbuster and Hollywood Video out of business, both in 2010 after 25 and 22 years, respectively.
- Spotify has already made the Apple iTunes pay-per-song music download model irrelevant to the next generation of music lovers accustomed to streaming music.
What Does All of this Have to do with Recruiting?
It’s pretty simple: hiring the wrong talent is your greatest risk to be disrupted and hiring the best talent is your greatest opportunity to disrupt. Consulting firms and business schools will talk about digital transformation and creating a culture of innovation as operational goals for CEO’s and the future of their businesses. While these are critical, they can only be realized with the right talent. It all starts with sourcing, attracting, assessing, and hiring the absolute best people.
So how do you win at recruiting? Download the whitepaper and discover more.