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About talentRISESo how is it possible that organizations need help now more than ever in acquiring, developing and retaining top talent? The answer is complex, but the metrics are straightforward; while the pool of talent has expanded dramatically, the challenge companies face are in many cases tied to the numbers of applicants for a single position. The traditional “funnel” of candidates has widened so much that identifying, sorting, and assessing candidates can take companies up to 70% more time. This time costs money and making the wrong hiring decision costs even more. Acquiring, developing and retaining the most talented employees is more critical today than it has ever been. The U.S. Labor Department reports that the nation lost 2.6 million jobs in 2008. The unemployment rate ballooned to 7.2%, which is even higher in reality since it only considers employees who have successfully applied for unemployment insurance benefits. According to the Labor department's figures, more than 11 million Americans are unemployed. In his recent report The 2009 HR Executive’s Agenda, Kevin Martin, Human Capital Management Research Director wrote, “as more job prospects flood the market, the ability of an organization to identify, engage, cultivate and/or recruit the talent that best fits its culture and is most apt to succeed in specific job roles will become increasingly more difficult, yet vastly more important. |
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