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Key success factors for managing talent in 2023 and how technology can help
Bavaria consistently attracts top talent, thanks in part to its world-class universities and research institutions. Exciting job opportunities can be found all over the state, be it with large global players, world-leading hidden champions, or in its dynamic start-up scene. But this fast-paced environment also poses a challenge for managers and HR professionals: how to recruit and retain top talent.
We spoke to two leading platform providers in the Bavarian HR tech scene, Personio and Malt, to learn how they tackle this issue with the help of modern technology.
Free up time to focus on the human factor
Personio is the modern all-in-one HR solution designed for SMEs. Since it started its journey, the company has helped 8,000 HR teams across Europe to automate their people processes and free up time for more strategic work, enabling HR to go beyond HR.
“Spend less time on processes and more time on people. It’s as simple (and complex) as that,” says Cassandra Hoermann, Head of People Experience at Personio. It’s the company’s mantra but also her key piece of advice when it comes to attracting and keeping talent.
To improve the employee experience, she suggests focusing on three concrete things:
- Help employees find meaning in their work and career
- Increase development opportunities
- Open up avenues for discussion and internal communication
Personal interaction and a strong corporate culture is key to improving not only the employee but also the candidate experience. In Personio’s own talent attraction strategy there is a focus on three key levers:
- Communicate a clear and authentic employee value proposition
- Tap into employee referrals as an important resource for talent and involving employees in hiring processes, for example by giving real-live insights
- Give fast, personalised feedback, with clear information about next steps
For most HR departments however, freeing up time to spend more time on people is precisely the problem. According to a Personio study, nearly 6 in 10 (58%) HR managers report that inefficient processes, unnecessary administration, and repetitive tasks slow down their work.
This is exactly the problem that the Personio team set out to solve when the company was founded in 2015 in Munich. Today, Personio is Europe’s most valuable HR tech company.
Cassandra Hoermann explains: “Digitising and automating people processes frees up time to focus on increasing the candidate and employee experience. If you don’t focus on the people experience, you’ll potentially set your entire company back years in lost productivity and lost revenue.”
Develop a blended workforce
Malt, a French digital marketplace that opened for business in Munich in 2019, focuses on a different kind of talent that forms an increasingly meaningful part of the work ecosystem: freelancers.
In fact, building a blended workforce, i.e., creating and embracing an environment where full-time employees work side-by-side with freelancers, will be a key success factor for managing talent in the future. Today, freelancers already make up 25% of all European tech talent.
To discover the right talent, Malt uses a combined algorithmic and human-curated approach. But the platform’s success is not just based on tech: the community team helps freelancers grow their reputation and build their careers on Malt. They are in constant contact with freelancers and consultants to help them optimise their profiles.
In conclusion, high touch — the combination of high technology with a human touch — is the best formula for creating a rewarding employee experience. And there are smart solutions that can help you find it.
- Employer branding is also necessary for independent consultants: Freelancers are looking for companies with great corporate social responsibility initiatives. Companies can make themselves more attractive to this group by highlighting these activities during the freelancer selection process.
- Streamline the selection process: To gain and keep the best freelance consultants, companies need to respond actively throughout the selection process. The ideal procedure before onboarding takes less than a week.
- Educate freelancers about bogus self-employment: The freelancer should not be treated in the same way as a permanent employee by being made part of the traditional hierarchy and standard form of direct management.
- Prepare properly for their arrival: Ensure easy access to the equipment, tools, and software needed to complete the project.
- Establish a main point of contact: Designate one person to collaborate with freelancers and hold weekly meetings with them.