ConnectIT 11-December-2008 Taleo's 2009 New Year's resolutions by Vanessa Ho As we fast approach the end of 2008, Taleo Corp. has some New Year's resolutions for companies that focused on talent management practices in a down economy while also helping them gain a competitive advantage. "Given the context of this rough economy & we look at it with the eyes towards really making sure we keep the right talent and that we also can use some kind of talent management strategy that are not necessarily high cost but high touch," said Alice Snell, vice-president of Taleo Research. She added that one resolution that organizations should consider is never under estimate the power of a thank you. In a slowing economy, where stakes are high and morale is low, low-cost perks can go a long way. "The thank you is part of the bigger picture that says people not only want to feel appreciated and noticed but [also have] their interest acknowledged," Snell noted. Using technology, such as that provided by Taleo can help companies look for opportunities to engage their workforce in career planning. Snell said that this can make employees feel they do have an opportunity to express those interests and have a career development path. As well, talent management solutions can help identify the skills of a company's existing workforce. It is also critical for employers to have complete visibility into an organization's current talent in terms of skill and performance. "It is really critical for ongoing performance of businesses to understand how your talent, which is still your key competitive advantage, can provide the best output and productivity regardless of economic conditions," added Snell. "In past recessions, focus was on deep cuts and a bunker mentality whereas now, there is much more acknowledgement that you don't necessarily want to slash your workforce." Additionally, the quality of hire in a low growth economy is also extremely important as this means companies are hiring fewer new people and they want to make sure they have the absolute top talent through proper talent management practices. Another resolution is businesses need to understand where they fit within their country competitiveness. Companies need to ensure that talent is aligned with current country standards for best success and that there are opportunities for continuing innovation. Snell said that this is all about having the right talent and skills and putting drivers in place to get those skilled people, if lacking. As well, new in 2009 is that transparency is the new black. Businesses need to understand that organizations are not in sole control of their published information and responses to their actions. Sometimes this information could be up for public discussion. "We live in a 24/7/365 world & [and] people will get a view into your organization that is unprecedented," said Snell. She noted that in the past, while organizations used to have control of their brand, today, a disgruntled ex-employee could post an unflattering video on YouTube about that company but social networking can be used to an organizations advantage. Snell explained that social media tools like blogs, MySpace and Facebook are putting a new spin on employee communications. She further said that companies are using these tools as the best way to communicate with their employees with either positive or negative announcements. "This goes a long way to preserving employee confidence and maintaining employer and company brand," Snell added.