Full Sail Partners Blog | HR (3)

Professional services firms have historically overlooked the importance of a formalized and systematic talent management process. However, more and more firms are now finding value in having a methodical human capital management (HCM) practice in place. In fact, 74% of AE firms reported that they are tracking revenue per fulltime equivalent and other financial metrics that are related to HCM according to the 41^st Deltek AE Clarity Report.

Even more interesting, technology companies have become aware of this desire for HCM, and a countless number of HCM software packages have flooded the market. Nonetheless, most of these HCM software offerings are generic to serve any industry. But Deltek, the leading software solution provider for professional services firms, noticed that this specific market vertical has unique needs and released Deltek Talent, an HCM designed for professional services. Here are some ways Deltek Talent adds value for human resources (HR) professionals.

Recruit and Hire Top Industry Talent

Finding and attracting top talent in the professional services industry is becoming extremely competitive. Essentially, firms are realizing that the quality and experience of their people has a significant impact on the quality of projects they deliver. Therefore, quickly enticing the “right” people is becoming priority.

Deltek Talent offers benefits such as:

• Faster talent acquisition
• Enhancing visibility and insight into the applicant pipeline
• Improving communication with applicants, candidates and hiring managers
• Putting new hires to work faster with an automated onboarding process

Firms likely receive numerous submissions from potential candidates for new job openings, and unfortunately, not every applicant meets the minimum job requirements. However, those applicants can still be good fits for different positions that may open in the future. With Deltek Talent, HR managers can create “talent pools” which organize applicants based on their qualifications and provide a group to target for new positions that are within their skill sets.

Provide Development and Advancement Opportunities

To retain top talent, firms must show that they are invested in their people. This could involve coaching and learning opportunities, certifications, or laying out a clear path for career development. Deltek Talent provides the perfect platform for firms to demonstrate that they are invested in the advancement and professional development of their employees.

The Learning Management System (LMS) within Talent allows HR professionals to:

• Reduce compliance risks with expiring certifications
• Create individual learning plans to ensure employees achieve their goals
• Improve employee engagement

Even more, the Deltek Talent LMS is designed to support the continuous educational needs of professional services firms. Some key features of Talent LMS include:

• Easy tracking of required industry specific training and certifications
• Maintaining organizational compliance and managing certification programs
• Using automatic reminders and notifications about expiring certifications
• Creating and tracking individual learning plans with industry specific courses from RedVector
• Storing internal training documents creating a one-stop shop for all learning materials

Performance Management

Long gone are the days of annual reviews. Today, HR professionals view annual reviews as an antiquated method for performance management. The trend now is for ongoing improvement by providing instant feedback about performance. With a continuous improvement model, firm leaders and managers can recognize positive or handle less than acceptable performance on an ongoing and regular basis. This ensures employees are always aware of areas they excel at or need to improve upon.

The performance monitoring tool within Deltek Talent significantly benefits HR professionals by:

• Reducing performance management cycle times
• Recognizing and rewarding top performers
• Greatly improving employee engagement and motivation

Seamless Integration with Deltek Vantagepoint

A huge benefit of Deltek Talent for Vantagepoint users is that it fully integrates with the following Vantagepoint modules:

• Accounting
• Resource Planning
• CRM
• PSA

From the moment a new applicant’s information is captured, it is stored within the Talent platform. Once a candidate becomes an employee, Vantagepoint creates a new employee record from that information. The integration collects data such as first, middle, and last name, email, home address, phone numbers, and social security number, eliminating duplicate entry of information across firm departments which saves time and reduces errors.

Manage the Entire Employee Lifecycle with Deltek Talent

HR professionals will finally get the tools they require to make them more productive and efficient in their roles. With Deltek Talent, professional services firms can enjoy the benefits of an HCM solution designed to meet their unique industry needs. Is it time for your firm to formalize an effective talent management strategy? Find out more about how Deltek Talent can help create an automated, employee focused HCM plan.

Human Capital Management (HCM) is a vital process that must be taken seriously for firms to be successful. There are many aspects to HCM from talent acquisition, to employee learning and professional development to succession planning. Based on the findings of the 41^st Annual Deltek Clarity A&E Report, talent acquisition remains a major challenge for A&E firms and they must embrace technology and improve practices to attract the best candidates. This year’s Clarity report also addressed a variety of other hot HCM topics for A&E firms.

Tracked KPIs for Human Capital Management

According to the results of the report, the top four KPIs tracked by A&E firms included revenue per full-time equivalent (FTE), voluntary turnover, involuntary turnover, and employee retention. Identifying these particular KPIs shows that firms are concerned with retaining employees once they are hired. As a matter of fact, 74% of firms tracked revenue per FTE which indicates that financial-related metrics are being connected to HCM. However, only a minority of firms tracked other financial-related metrics. Those firms willing to look at the whole hiring and retention process will ultimately have less costly HCM systems thus making them more successful.

Managing Talent

Seeing that the top KPIs tracked are regarding turnover, it is no surprise that employers continue to focus on their initiatives for managing talent. The report stated that the top two talent management initiatives remained the same, develop more formal career development programs and create/improve succession and career development planning. Creating and improving mentorship programs moved to the third spot going from 28% to 45%. It is becoming clear to firms that knowledge must be transferred to those employees with less experience if they are to continue operating successfully. Unfortunately, however, only 10% of firms prioritized investing in a HCM solution even though 40% of firms currently use outdated HR solutions.

Surveys of Employee Engagement

Again, focused on the topic of retention, this annual Clarity report addressed employee engagement surveys. The results from the report indicated that 81% of firms conduct employee exit interviews and surveys. Only 60% of firms stated that they do annual employee surveys which means that the opportunity to address employee concerns is often missed. If those concerns were heard and addressed, then turnover could be reduced. Gauging employee sentiment is important to keep retention high so firms should move away from more traditional methods of survey towards more frequent survey models.

Talent Acquisition

Back to the issue of talent acquisition, the top talent acquisition initiative reported in the survey was improving the perception of the firm (54%) which is important since reputation helps attract the best candidates. Additionally, 41% of respondents picked improving onboarding processes and procedures which went up from 37% the prior year. On the other hand, the report showed that only 40% of firms were considering an enhanced compensation offering. Besides compensation, firms should consider leveraging technology to offer flexible/remote work options to attract candidates.

Firms Care About Human Capital Management

Despite a tough labor market, it does appear that A&E firms continue to improve their HCM processes. Acquiring and retaining top talent remains a priority for firms. They must continue to improve talent acquisition by tracking KPIs, considering enhanced compensation and leveraging technology. There should also be focus on succession planning and career development to ensure employee engagement and retention. For more detailed information on the 41^st Annual Deltek Clarity A&E Report, review it in full.

Those in marketing for professional services have a level of knowledge they had to build, likely for a field they did not pursue, and use that knowledge of services to build a brand. In doing so, marketers paint a picture of the firm that they promote. Usually marketing professionals find themselves helping many departments throughout the firm. Not only is collateral client-facing, but marketers often have a responsibility to market to the firm internally. Over the years, I have found many marketers to be integrators in a firm so let’s check out how marketing plays well with others:

Know the Brand

The brand is more than the firm’s identity and reputation. According to an SMPS article, “…strong branding is viewed through three lenses: overall firm branding, personal branding, and employer branding. All three are crucial to a strong brand foundation—and all three are connected in important ways that contribute directly to your firm’s success.”

Marketing has the fun responsibility of viewing the firm with a broader lens and shining the best light on firm strengths. As marketers believe in the services the firm can provide, they can use various channels to get the right message to the right audience. Therefore, knowing internal teams is just as integral as knowing clients.

A lot can change in a firm, whether it be people, services, or goals, and marketers need to be in the know of company happenings to properly communicate the appropriate message. After all, the only constant is change. Marketers find themselves having to be very flexible with messaging as well as keeping up with the dynamic structure of the firm.

Master the Service Lineup

Professional services firms typically have printed material, a digital footprint, and many proposals created for specific clients. Marketers must have knowledge of the firm’s services and a strong bond with technical staff to collaborate and create content. While a majority of technical staff has vast knowledge of what services its group offers, it’s important to educate everyone on all of the firm’s offerings, even if at a very high level. This can lead to more aware project managers as well as cross selling. All marketers should take advantage of education opportunities.

Knowing that many marketers have a great understanding of the firm’s services, they can become integrators within the firm, matching up employees that can benefit from bigger discussions. Collaborations do not stop with technical departments.

Recruit Like a Pro

Great minds come together for the greater good when human resources and marketing collaborate. Recruiting can be quite time-consuming; however, attracting top talent can tighten the candidate funnel. Pulling together human resources’ knowledge, the firm’s brand, and creatively crafting the right message can yield strong new recruits for consideration.

To that note, a firm’s digital footprint can play a huge role in a candidate’s interest. Using social media as a recruiting strategy can have phenomenal results. According to harver.com, 92% of recruiters use social media in their efforts. It is a way to engage passive candidates and employees, make connections, and share quality content.

Naturally, recruits or potential candidates google the firm and can be quick to judge on initial findings. It is imperative that a firm’s brand stand out on social media, such as LinkedIn, and on the firm’s website and network.

Set Standards from the Start

After an offer is accepted, it is also beneficial to include marketing in onboarding efforts to educate the new hire on the following, at a minimum:

• Branding guidelines (colors, logos, firm names, and more)
• Branded swag
• Proposal resume building
• Email signature
• Collateral that covers all firm services

As marketers share branding guidelines and set brand expectations from the start, new hires are immediately in the know when it comes to firm resources that are client-facing.

Own that Hat Closet

Marketers may notice that they wear many hats as time passes at a professional services firm. Each hat will give different insight into the firm and potentially challenge the “norm.” There are conversations with all roles of the firm, from C-suite to staff level. All of these collaborations help build the firm’s message that is distributed through email campaigns, mailers, proposals, onboarding, and both digital and social content. With each hat that is worn, many areas are weaved together for a more cohesive firm and a stronger brand.  

In order for project-based firms to be successful, they must employ the most qualified talent. Furthermore, the most talented employees need to feel empowered and engaged with their firm and look forward to growth in their career paths. Allowing staff to own their career paths ensures longevity with the firm, and the Deltek Core HR solution provides this capability. So, how does Deltek Core HR enable employees to own their career paths? Great question - let’s take a look at the key features that make it possible for employees to feel empowered.

Employee Self-Service

Today’s workers expect to have the ability to handle matters on their own. This is especially true for staff members that are on the go or working from home. Additionally, it is certainly much easier for employees to update information on their own rather than having to call or email HR. With self-service, staff can do this and ensure that their certifications and training requirements are up to date. With Deltek Core HR, employees are able to independently manage their personal data and keep it current.

Professional Development

According to a 2018 LinkedIn Workplace Learning Report, the number one reason employees felt held back with their professional development was because of time. With the Deltek Core HR solution, employees can easily take training in the system which is automatically built into their history. Instructor-led and e-learning classes are viewable in the course catalog and can be simply enrolled in when employees desire. Furthermore, certificates and education units achieved can be downloaded proving that job requirements are being met. Deltek Core HR allows employees to see all of their certifications and training so they can stay on top of their professional development.

Up to Date Resumes for Proposals

Another benefit of Deltek Core HR is that employees can maintain their resumes in the system, updating them as needed. Having access to resumes ensures that they are always the most recent ones especially when they are part of your firm’s proposal process. When selling professional services to clients, the top available talent needs to be evident to win the work. Employees who want to get the most desirable projects want to have their skill sets and certifications up to date. Deltek Core HR lets employees put their “best faces” forward by being current with their resumes.

Applying for Job Openings

Also, with resumes being immediately available in the system, staff can search and quickly apply for internal job openings that may be of interest to them. They can also see what the skill sets and requirements are for the open positions and of course easily sign up for the necessary training then add it to their resumes. With Deltek Core HR, employees are put in the driver’s seat of their career advancement by being able to choose what direction to take and how to get there.

Track Feedback

The best employees want to see that they are meeting or exceeding expectations. Within Deltek Core HR, the Deltek Talent Performance component offers the scheduling and tracking of continuous feedback. Employees choose the time of these feedback sessions and comments from both staff and managers are tracked. With feedback, employees are given guidance about their performance which ensures they are right on track with their career.

SMART Goals

One other aspect of owning career paths is setting goals. Deltek Core HR provides employees the tools to set up SMART goals – Specific, Measurable, Attainable, Relevant and Time-bound. The goals can be set up by preference whether it is a numerical target or complete/incomplete. From the My Goals link under Performance, employees can access their goals. When goals are being met, employees work even harder which ensures success for the firm as a whole.

Deltek Core HR Benefits All

In the end, Deltek Core HR is a solution that benefits both employees and business leaders. With the convenience of self-service and putting staff in charge of their career paths, there is more engagement and thus a desire to stay with the firm. Additionally, having many HR tasks handled by employees eases the burden on those who usually manage it which allows them to focus on business development and success.

If you’re an HR or recruiting professional, you’re probably tired and maybe completely annoyed with the overly used and abused term… “war for talent.” Today, we will bury that term deep into a grave with no headstone. Why do you say? Simply, because there isn’t a “war” to win. Instead, let’s think about recruiting like dating and the desire to attract the perfect fit. These days, many people meet their potential mates via relationship sites. Therefore, when a person is looking to find the right match for life, he or she goes to a source of available quality candidates. Shouldn’t a firm look for the best employee to meet its needs using a similar system? So, how does a firm go about finding the right mates for its business purposes?

Utilize Internal Resources to Attract Talent

We’ve all been there - single with a group of friends who want to help us find our soulmate. They always have someone in mind who is the “right” person to match with you, and they know you really well. All that has to happen is the introduction and finding commonality, and bam, you’ve got your fit.

Well, if your role at the firm is to find the right match for business purposes, sometimes the best place to look is internally. You’ll first want to let everyone know what you are looking for so fellow coworkers can be matched with these internal job requisitions. Employees might also know others from outside the firm that are good fits as well. Did you know that studies suggest that new hires sourced from internal referrals lead to reduced time to hire, reduced cost per hire, improved quality of hire and reduced turnover rates?

When internally advertising a new job requisition, here are some items to consider:

• Can your staff easily access this information?
• Are there incentives for employees to recommend your firm to their friends/acquaintances?
• Are these new job requisitions advertised in a way to attract existing employees looking for internal change?

Use Your Website to Evaluate New Talent

Using your company website for matchmaking? That’s a bit creepy if you think about it. But there are people using TV shows to find their potential mates so not too much of a stretch, huh? In a world of fast-moving internet connections, why should firms miss out on “speed dating” for their new job requisitions? Firms want to quickly separate those who may potentially be good fits from those who are absolutely not worth pursuing any further.

Let’s focus on the careers section of your website. Here’s the shocker, and I genuinely ask you to visit with your webmaster to ask what percentage of your website traffic is driven by the careers section. You’d be surprised that up to 50% of your traffic goes to your career page if you’re a professional services firm.  

With that said, your careers section should not be controlled by your on-staff or contract website guru. As the HR or recruiting person at your firm, you want the control to create and update your job requisitions as needed and when needed. You must have a simple format that is easy for potential matches to input the required information. Additionally, you need to be able to track the analytics of this page to know how many are reviewing the job requisition postings and how many of those convert to applying for the advertised open positions. Above all, with these job applications accessible on your website, you should easily be able to evaluate who may jive with firm culture and who is definitely a no-go.

Using Social Media to Connect with New Individuals

“Hey, I’m single and #ready to mingle!” Or better yet, “I’ve never met you before, so let me slide into your DMs.” Believe it or not, this works great for finding a potential romantic mate and for generating interest in your new job requisition. The power of social media is amazing for so many reasons.

First connections see your post, then they share or like your post, and then their friends see and like the post, and from there…it continues to grow. Better yet, your firm probably uses several social media platforms on a daily basis. What better way to attract new talent than harnessing the power of social media? Additionally, social media allows your firm to add personality just like it does for an individual looking for a date or a mate. When using social media, you can make your messaging fun and personify your firm. Just think about the hashtags and who you might want to @ to bring more attention to your job requisition. Once you grab the attention of a perspective candidate, you’ll likely get them to apply.

Stand out Above the Competition on the Web

If you’re tired of being single, you’re likely trying everything you can to attract and find the right mate. This means you’re likely using multiple dating apps and websites. Even more, you are probably using the best photo you can find of yourself for your profile. You want to stand out, right?

Yep, there’s a connection here too with finding the right person for your new job requisition. First off, you probably want to post it to as many job boards as possible. Sure, this takes time, but the more the better, and having the right tools can make cross-posting a new job requisition across multiple job boards simple. It even helps ensure the posting is consistent across all listings. Most importantly, you want your job requisition to stand out among the crowd. Make sure to use exciting job descriptions that emphasize the benefits of working for your firm over the competition. Lastly, you want potential candidates to be able to easily apply for your open position.

Quit Playing Games and Get Serious

Just like dating unimpressive potential suitors, interviewing underqualified or less than desirable talent can be frustrating. Technology has changed how people find dates and potential mates. Similarly, firms have access to better hiring management platforms. For many, the concept of an applicant tracking system (ATS) is nothing new, but people are still unaware of the benefits and the time-saving capabilities that these platforms offer. It is time to get serious about attracting and hiring the best talent for your firm.

While many consider satisfied clients to be the most important factor for a business to be successful, they often overlook the significant contribution that satisfied employees make to the bottom line. Employees need to feel that they are not only a part of the process but see their efforts result in positive results. If employees are left in the dark regarding firm strategies and outcomes, they are more likely to just go through the motions in their jobs rather than be engaged. The best way to make sure your staff is engaged and therefore motivated towards firm success is to set goals. Let’s see what this entails.

Set Clear Expectations

If employees know what they are expected to achieve in their roles, they will be more inclined to work hard. When you clearly state goals and explain the strategic direction your team will be taking, you provide needed guidance which forms a connection. The individual employee goals established should be aligned with the overall firm goals whether short-term or long-term. Short-term goals work particularly well as the results can be more quickly seen by both employees and managers and provide a way to offer more continuous feedback ensuring employee engagement.

Stay SMART

In identifying particular objectives, it is best to be SMART about them. The guidelines for setting goals should be specific, measurable, attainable, relevant and time bound. A specific goal should address what is to be accomplished and what resources are involved. A measurable goal looks at when it will be accomplished while achievable focuses on how realistic the goal is. A relevant goal decides if it is timed correctly and if it meets a firm’s current needs. Finally, time bound establishes when the goal should be met. Goal milestones should be set to hold employees and teams accountable, and there should be a way to track the goals using a talent management system like Deltek Talent.

Recognize Employee Impact

Employees want to see how their contributions impact their team and their firm overall, and it is easy to become disillusioned when they cannot see the end result of their actions. With a tracking system in place, managers can show employees what they have accomplished, and employees can understand how their meeting of goals benefits the company at present and down the line. When you recognize the efforts of employees, they feel like they are part of firm success and will be motivated to continue these efforts.

Put a Goal System in Place

Employee engagement is necessary for the success of your firm and setting of goals is the best pathway to ensure such engagement. This way, employees will be informed of their expectations and given an opportunity to show what they can accomplish. Tracking these goals with a talent management system like Deltek Talent will keep employee goals aligned with firm goals and provide a way for employees to see their contributions to firm growth. Put a goal system in place today.

For years, annual performance reviews have been the standard way to evaluate employees. Usually, these evaluations take place at approximately the same time each year. They often discuss issues from the distant past then try to address future goals which are not brought up again until the following annual review. This dated process is static and useless when motivating and engaging staff. With the competitive talent market in the project-based world, firms need to actively nurture and develop their staff using continuous performance management. Here are some key components of a continuous performance management program.

More Than Just a Check-In

Continuous performance management involves more than just an occasional manager “check-in” with employees. It goes much further by incorporating input from other team members such as project leaders, human resources and other co-workers. With continuous feedback, employees can be kept abreast of how project milestones are being met while also examining outcomes that don’t go exactly the anticipated way. Furthermore, using technology, these frequent conversations between team members become an easy occurrence.

Goal Management that Flows

Another part of continuous performance management entails the fluid management of employee goals. Hiccups and successes should not be stagnant but should be evaluated as they occur during an employee’s tenure at your firm. Growth occurs constantly and employees meet their goals in various time increments so managing these goals should be just as fluid. This adaptable management of goals benefits the firm since project requirements change as well. Therefore, goals should be altered as needed rather than absolutely set in stone.

Clear Development Plans

Continuous performance management also incorporates career development plans for employees. From getting new hires productive at onboarding to upskilling or reskilling them several years down the road, development plans should be authentic and intentional. When employees have the opportunity to drive their careers, they become more engaged with their firms. As a result, this engagement leads to more productive projects which will benefit the firm in the end.

Transform Your Performance Management Process

Based on a SHRM/Globoforce Survey, a whopping 89% of HR leaders agreed that continuous feedback had a positive impact on their businesses. However, a Gallup study showed that only 19% of millennials surveyed said they got routine feedback with only 17% revealing that it was meaningful. The project-based workforce of the present and future wants authenticity and autonomy from its employer. Yet, the same workforce desires a way to showcase its skills and advance. Continuous Performance Management offers firms the ability to fully utilize the best talent, adapt to changing needs and ensure they grow with the firm.

It is well known that clients hire professional services firms because they have a certain expertise and knowledge base. Therefore, it is crucial that employees of professional services firms are able to jump in and immediately handle the requirements of each project brought to the firm. One of the best ways to ensure that firm employees are ready for each new challenge is to have effective training programs. Trainings can range from bringing new hires quickly up to speed on firm expectations to teaching more seasoned employees a new set of skills to fit changing roles. The important piece is to ensure the trainability of these employees. How can firms accomplish this?

Have Strategic Training Process

Each training program should have specific objectives with measurable goals. The audience of the training impacts the approach used as well. Onboarding new hires is of course going to be different than teaching new skills to experienced staff. It is necessary to evaluate which training tools or platforms will be most effective with the varying learners. Also, what means will you use to measure learner knowledge? It is necessary for the firm to get a return on investment from these trainings as they are costly.

Effective Training Content

In order to meet the goals of each training, a structure must be determined. Start by focusing on what is to be accomplished in the training. For new hires, they must be able to digest the overall company policies and requirements plus their individual position responsibilities. Experienced employees are looking to learn new skills in a manner that makes sense and can be easily applied to meet their new expectations. At the end of the training, will these employees have what they need to efficiently do their jobs?

Optimize Engagement

Trainability of employees increases when they are engaged. First of all, choosing the most attractive content encourages engagement such as mixing it up with a variety of media options. Chunking material is a good way to ensure information processing without overwhelming the audience. Finally, offering incentives to learn such as prizes or fun swag during the training will promote engagement. Appealing to the audience improves their trainability.

Ask for Feedback  

When the training sessions are over, it is important to gauge effectiveness. One way could be through reporting features of the training platform used. Another option is to use feedback surveys. Through these methods, employees can show that they got value out of the trainings. Hopefully, they did, but if not, improvements can be made for the future to encourage the best learning environment possible.

Track Employee Training

Being able to quickly see what training a certain employee has received can also improve trainability. For many firms, this is done using a system that doesn’t allow for the employee or their boss to see what trainings have been accomplished. Instead, employers should invest into a HR solution that can track completed training programs and also provide a list of future programs an employee is expected to complete. As a result, employees will more likely be enthusiastic about their future growth at the firm.

Trainability Ensures Productivity

Firms want a strong workforce that can meet client needs, so trainability is essential. When determining the best training programs, think about how to meet the goals of the firm while engaging the audience. The return on investment from high employee productivity is worth the effort put into the pre-planning of training programs.

Recruiting top talent especially for project-based firms is a crucial and effectively a non-stop process. Since projects come and go, there is always the need for qualified team members to be able to jump in and handle them. So how do firms stay on top of the hiring game and get ahead of the competition? The answer lies in automating HR processes with a talent management system. Let’s check out some ways automation would benefit your firm.

Work More Efficiently

Automation with a talent management system helps both candidates and recruiters work more efficiently. Everyone has limited time, so having a fast means of scheduling interviews, matching job skills and quickly getting desired candidates on board is a necessity. Particularly when a project opens up, and a team needs to be assembled, time is of the essence. An automated talent management system handles the core HR processes for you, so everything runs much more smoothly. Additionally, good candidates that may not be available to work at that moment can be kept in a standby position which is monitored through automation.

Better Candidate Experience

Your firm’s chances of staying ahead of the hiring competition increases exponentially when job candidates are excited to work for your firm. With an improved candidate experience in the hiring process, top talent will feel confident that working for your firm is a good choice. Automated recruiting allows for communications to flow via email and follow up to occur in a timely manner. Hired candidates will also be on-boarded quickly and placed where their tracked skill sets are required. With an automated talent management system, candidates are left with a positive recruiting experience that will be shared with others that perhaps may become future employees.

Hiring More Diversely

Another plus is that recruiting automation ensures that the best talent is hired based on the needed skill sets for your firm. Human recruiting has a lot of bias and sometimes the same type of worker is hired. However, there are so many great candidates that can offer the team a wider outlook on handling projects. Whereas, automated hiring takes the bias out of the equation and only looks at the required certifications and job skills for working on projects. Studies have shown that diversity leads to a more productive workforce.

Automation is Attractive

From the perspective of both recruiters and candidates, an automated talent management system saves time and in the end money. Recruiters can connect with top talent more efficiently and talent has the opportunity to see what is offered quickly. Since projects need to be started as soon as possible and managed well, finding top talent is essential for success. Fortunately, automation is an attractive option for all parties to the hiring process and helps keep firms ahead of the hiring competition.

Summary of Human Capital Management in 40th Annual Deltek AE Clarity Report

The results of the 40^th Annual Deltek AE Clarity Report regarding Human Capital Management (HCM) indicate similar trends from the past few years. There continues to be a tight labor market, and firms still struggle with finding qualified candidates. With the talent that they do hire, firms are working to engage their employees especially by offering better career development which ensures retention. Let’s take a look at some of the key findings regarding HCM.

Talent Acquisition Challenges

The top three challenges firms are dealing with regarding talent acquisition are the availability of good candidates in the marketplace, the ability to offer competitive compensation and matching qualified candidates to open positions. Continuously nurturing qualified talent is must in this competitive talent pool. Firms must also take a hard look at their compensation plan to ensure they can recruit the desired staff to fill open positions. Utilizing a talent management software such as Deltek Talent Management will help with these talent acquisition needs.

Issues Regarding Managing Talent

Succession planning, employee engagement and performance management seem to be the primary concerns for firms regarding managing talent. Unfortunately, the report showed that only 45% of participating firms in the survey had succession plans in place. Lower on the priority list for firms were learning and development and recognition. Both of these actually go a long way towards improving employee engagement and should be looked at more closely. Therefore, it is wise to keep in mind that performance management is easily trackable using a talent management software.

Developing Talent

It is clear from the study that firms are in fact encouraging the development of talent that they are able to recruit. 75% of firms reported that coaching and mentoring are used to develop their talent with 54% using external education programs. 80% of firms prioritize professional licenses with 77% making conference attendance a focus. With the addition of 76% endorsing professional certifications and 72% offering continuing education reimbursement, the results show that firms are interested in investing in their talent which is always a plus!

Human Capital Should be Smartly Managed

Having the best talent in place now and a plan for the future is the secret to success for any firm especially project-based firms. With the constant flux in project management, talent needs to be qualified, available and engaged. Additionally, learning and development is crucial to not only keep employees retained but to ensure that projects are run as efficiently as possible. For a more detailed look at the HCM results from the 40^th Annual Report available in the link below.