Fri, Oct 14, 2011
Top talent and the seminal scene from that classic of Nineties cinema, Jerry McGuire, both have pretty much the same mantra: “show me the money!”
Of course, HR professionals and recruiters (and everyone, really), are in the same situation as Jerry was in the movie: trying to compete with scant resources and limited headcount to support their roster of talent in a cutthroat market.
While our employees might not be playing under the bright lights on Monday night, the growing frustration that’s occupying Wall Street and our collective consciousness has similar stakes as the conversation Jerry had with Cuba Gooding’s Rod Tidwell: everything hinges on the balance of a single job, including your own.
Fortunately for Jerry (and that weird looking kid), the Cardinals caved in and made an acceptable offer, but for millions of Americans, free agency is anything but a good thing.
In the NFL, like computer programming or other high tech, high growth industries, there’s a limited talent pool of qualified candidates and individual performances are key to determining winners and losers.
Of course, the NFL has a salary cap, which ensures parity, but there’s no such protection for payrolls; if you can’t show candidates the money, you’ve got to show them something special.
Whether that’s work-life balance issues like virtual workplaces and flexible schedules, or cool perks like free food or casual dress codes, the one thing that truly draws top talent is something that, fortunately, can’t be spelled out entirely in dollars or cents, and that’s innovation.
The recent passing of Steve Jobs serves as a reminder of the value of having the talent necessary to drive innovation: as a concept, as inspiration, as a guiding principle. For HR and recruiting professionals, it may take some innovation to come up with something special, something intangible, that tells top talent that they’ll get paid in ways infinitely more valuable than salary.
Because it’s hard to put a price tag on intellectual capital, this week’s Monster 5 for Friday looks at some of the ways HR and recruiting professionals can hire top talent even if they can’t show them the money.
5. If you’ve found that candidates with jobs simply aren’t giving them up, check out some timeless tips in “The 10 Commandments of Recruiting Passive Candidates,” by GlobalHR’s Lou Adler.
4. What 5 major forces will completely change HR as you know it by 2020? Read Daniel Kaplan’s “The End of Human Resources as We Know It” in Human Resource Executive Online (and then plan your vacation schedule accordingly, to be safe).
3. Employees’ wants may be changing, but how proactive should you be in changing your benefits package, and why? The National Federation of Independent Business tells us both in “3 Reasons to Change Employee Benefits.”
2. Think Atlas had it tough? Well, that weight may very well shift even greater in the direction of employees, according to Aon Hewitt’s predictions for trends in 2012. Leading the charge? Health care costs. This article offers some concerns and advice on how to reduce the burden on both organization and employee.
1. Teresa Norris-Lue rounds out the week with a look at the curious case of Generation Y’s maturation within the workforce, what challenges they face, and what they really want in “Generation Y in the Workforce – New Attitude, New Applications.”
And for one, final extra bonus (get it?), here is a timeless list from the Good News Everyday! blog of 51 ways you can reward employees when there simply aren’t funds to go around, by Business Insiders’ Mike Michalowicz and Bianca Male.