Taleo Corporation, provider of talent management solutions, today announced a talent management framework designed to help businesses fuel growth by improving their insight into the strengths, weaknesses and potential of their current workforces.
Taleo’s Talent Intelligence approach is unique for three reasons. First, Taleo has embedded analytics across the entire product suite, making every talent management interaction smarter. Secondly, the Taleo Cloud based platform automatically gathers information at each stage in the talent process, from recruiting through performance, learning, development and compensation. Taleo has the largest database of applicant information, powering over 200 million talent profiles for our customers.
This provides a unique competitive advantage with information on comparative talent analytics around recruiting trends, performance indicators, and job competitiveness.
Finally, the Taleo Talent Grid provides instant access to the world’s largest talent management ecosystem including over 4,800 customers, 200 million candidates and 100 partner solutions in 218 countries, so that our customers can interact in meaningful ways to gather necessary information to drive growth.
Taleo’s strategy aims to close the “talent intelligence gap” identified by more than 75% of companies who do not have access to the information they need on their people to inform business decisions.
“It’s a staggering reality that most companies know more about their laptops and copiers than they do about their people,” said Mike Gregoire, Chairman and CEO of Taleo. “That’s a woefully outdated strategy. CEOs need to think completely differently about their workforce.
It’s not just about using new tools – it’s about gaining a deep understanding of your people – knowing them as well or better as you know all of your business assets. It is the only way to truly grow and succeed coming out of this recession.”
CEOs all too often turn to their star employees—the 20% who drive 80% of the results—to help them stabilize and grow. “This kind of outdated thinking is not sustainable and is risky due to churn,” Gregoire said. “Employee loyalty is becoming a thing of the past, as companies are reinventing and looking to create new growth opportunities, their top people are too.” According to the Harvard Business Review, one of every three high potential employees is disengaged.
Current research suggests these issues are only going to worsen:
- 25% of high-potential employees plan to leave their jobs in the next year (Corporate Executive Board, June 2010).
- More than half of all people leaving jobs this year are leaving voluntarily (US Bureau of Labor Statistics).
- 30% less manager level staff will be available by 2015 (Egon Zehnder, December 2009).
- 40% of corporate board members are unsatisfied with succession plans (December 2009).
“We are in a recruiting renaissance, moving from the dark ages into a new era where we need to anticipate and respond quickly to business needs,” said Bret Leech, Vice President, human resources, Rogers Communications. “We kept our commitment to recruiting during this difficult economy and made a decision to buckle our professional recruiters to the internal business partners who drive our workforce plan. By using analytics and talent intelligence to determine the needs of our business, we were able to marry our internal goals to the external community and build dynamic teams to fuel growth.”