BROOKFIELD, WI – September 22, 2014 – Cielo, (formerly Pinstripe & Ochre House), the world’s leading provider of global talent acquisition and management solutions, today unveiled its industry-specific findings from the first-annual Cielo Talent Activation Index, which demonstrates the increasing importance of developing talent strategies to drive business performance. The study found that across all industries, high-performing organizations (Leaders) have succeeded in eight key talent areas, especially when compared to poor-performing organizations (Laggards):
1. Embracing workforce work-life balance
2. Using data and analytics to create workforce strategies
3. Using sophisticated metrics to measure workforce quality
4. Quantifying the business impact of an organization's workforce
5. Embracing cultural diversity
6. Applying workforce segmentation models to planning and decision-making
7. Effectively motivating and managing workers of all generations
8. Utilizing an effective value proposition to attract top talent
However, when focusing specifically on companies in the consumer brands, financial services, healthcare, life sciences, advanced manufacturing and technology sectors, the Cielo Talent Activation Index found that the degree of importance of these eight factors can vary widely by industry.
“When it comes to developing a workforce strategy, there is no one-size-fits-all solution,” said Angela Hills, Executive Vice President and Managing Director, North America at Cielo. “In order to be successful, organizations must both understand their sector’s current and future workforce needs and tailor their talent solutions to align with overall business strategies.”
Leaders in consumer companies give more top marks than any other industry when it comes to work-life strategies that empowered individuals (91%), workforce strategies fully aligned with organizational goals (82%) and preparedness for meeting the changing demands of the 2020 workforce (82%). But, when comparing Leaders and Laggards within the consumer industry, achieving top ratings is particularly stark in two areas: the ability to support work-life strategies (91% vs. zero) and multi-generational support (76% vs. zero).
Leaders among financial services firms place tremendous weight on devising outstanding work-life programs, with 56 percent rating their strategies “excellent,” while none of the Laggards say the same. Additionally, the best-performing financial services firms differentiate themselves from Laggards through the use of sophisticated quantitative metrics to measure the quality of their workforce (28% vs. zero) and actively apply workforce segmentation across their entire employee population (24% vs. zero). However, financial services firms lag behind Leaders in most other industry sectors when it comes to these two areas.
In the healthcare sector, 67 percent of Leaders distinguish themselves through the use of data and analytics to inform their workforce strategies, compared to zero percent of Laggards. Leaders also make extensive use of workforce segmentation models and support work-life strategies. “As demand continues to grow for highly-trained and highly-skilled healthcare talent, we anticipate that more Leaders will place greater emphasis on their talent management strategies in order to keep pace with industry needs and reduce turnover,” said Jill Schwieters, president of Cielo Healthcare.
Life sciences Leaders achieve the highest ratings of any industry sector for five of the eight most-differentiating behaviors, including: the use of sophisticated metrics to measure workforce quality (62%); use of data and analytics to create workforce strategies (100%); effectively motivating workers of all generations (76%); embracing cultural diversity (76%) and utilizing an effective value proposition to attract top talent (90%). Furthermore, the greatest differentiation between Leaders and Laggards is seen in support for work-life strategies (76% vs. 11%), use of data and analytics to inform workforce strategies (100% vs. 5%) and support for cultural diversity (76% vs. 11%).
While manufacturing Leaders rate themselves most highly in empowering workers of diverse cultural backgrounds (76%), they rate themselves lower in more categories than most other industry sectors. Surpassing only financial services, manufacturing Leaders make less use of data and analytics to inform workforce strategies (66%) and tie with financial services for lowest use of sophisticated metrics to measure the quality of their workforces (28%). Within the sector, Leaders (59%) rate their work-life strategies as more effective than Mainstreamers (13%) and Laggards (zero). Other areas that see major differences between Leaders and Laggards are cultural diversity (76% vs. 9%) and use of data and analytics to drive their workforce strategies (66% vs. 6%).
At 89 percent, no other industry Leaders – with the exception of life sciences (90%) – are more satisfied with the quality of their workforces. When comparing Leaders to Laggards within the industry, the best performers outshine the underperformers in their use of sophisticated metrics to measure the impact of their workforce (58% vs. 7%); the use of quantitative metrics to measure workforce quality (55% vs. 13%) and excellent support for work-life strategies (71% vs. 13%).
About the Index
The Cielo Talent Activation Index features feedback from more than 750 human resources executives within large enterprises. The study was conducted an online survey and through computer assisted telephone interviews (CATI). Study data is broken out for three geographic regions (North America, Western Europe and the Middle East) and six industries (healthcare, life sciences, manufacturing, technology, financial services and consumer brands). In order to identify Leader, Mainstreamer and Laggard companies, respondents were segmented based on the following criteria:
Cielo is the world’s leading provider of global talent acquisition and management solutions. In May 2014, the company rebranded to reflect the successful integration of U.S.-based Pinstripe, Inc. and UK-based Ochre House, which combined to become the largest independent provider of strategic recruitment process outsourcing (RPO), search solutions and talent consulting services worldwide. Cielo leverages its global scale, customized, innovative solutions and entrepreneurial agility to help clients achieve sustained people advantage and outstanding business outcomes. Through world-class, technology-enabled solutions, Cielo serves clients primarily in the financial and business services, consumer brands, technology and media, engineering, life sciences and healthcare industries. Cielo’s global presence includes nearly 1,000 employees, serving more than 90 clients across 57 countries in 26 languages. This footprint includes Moorland Gray, the largest and most successful executive search firm in the Middle East and North Africa. Cielo knows talent is rising – and with it, an organization's opportunity to rise above. For more information, visit cielotalent.com.