DENVER, Jan. 17, 2023 /PRNewswire/ — Revolutionary upheaval and change hardly begin to describe what workplaces have been experiencing recently. But by surveying over 2,000 middle-market executives, TalenTrust (www.talentrust.com), a strategic recruiting and human capital consulting firm, has recorded the ongoing struggles related to talent and culture, and offers strategies to recover from them.
In TalenTrust’s 2023 Solutions eBook, the company dives into its research and provides actionable solutions and peer-level insights on how to combat these issues. The top three talent and culture struggles that TalenTrust’s survey revealed were:
- Strategic recruiting. Only 16 percent of executives said they can attract and retain the right talent to grow their business in a timely manner. And if they do find the right people, executives say it takes longer and costs more than it should.
- Leadership development. Seventy-eight percent of executives surveyed said they are insufficient or failing in areas of leadership development, and 4 percent of companies also reported that their managers feel threatened by other talented individuals and will avoid hiring/promoting them.
- Systems for efficiency. Only 21 percent of executives have the right technology and processes in place to help effectively manage their recruiting, onboarding, and engagement processes.
Kathleen Quinn Votaw, the CEO of TalenTrust, is the author of two books related to talent and culture: Dare to Care in the Workplace: A Guide to the New Way We Work, and Solve The People Puzzle: How High-Growth Companies Attract & Retain Top Talent.
“Don’t think of your people as simply an asset or a priority, although they are both,” Quinn Votaw says. “Think of them as your product quality, the strength of your customer relationships, your brand, your potential, and your profits.”
The TalenTrust survey asked participants to respond to nine topics:
- Cultural alignment and engagement strategies
- Leadership development
- Employment branding
- Strategic recruitment solutions
- Assessment for fit and performance
- Candidate selection strategies
- Onboarding effectiveness
- Systems and processes for efficiency
- Compensation analysis
“All nine of these factors play into one another to create a more positive or negative brand and candidate or employee experience,” Quinn Votaw says. “Each of the nine can chip away at or enhance the success of your hiring and retention efforts.
“We amplify survey results and our CEO conversations with current statistics and professional opinion from topical media, as well as stories from our own experiences working with middle-market companies.”
TalenTrust was founded in 2003 on a mission to disrupt and modernize the stagnant, transaction-based, and less-than-people-oriented recruitment industry. Based on their belief that putting people first and building relationships is a viable and strategic business model, TalenTrust discovered that you can be kind and high-performing at the same time. The company has experimented, innovated, tested, lived, and developed expert and affordable processes and practices that it has shared with its fellow high-growth clients across the country. The result has been unimagined opportunity and growth – and an amazing story TalenTrust is proud to tell.
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