The New Normal, Part 2?

A year ago, there was a lot being said and written about the New Normal. The Great Recession, as some are now calling it, was different than previous recessions in many significant ways. Two questions to ask ourselves are: Does that mean this recovery will look different? If so, what should leaders be thinking about to maintain and build their human capital?

Early indicators this year are that although unemployment is still high, hiring is on the rise. Organizations are feeling more optimism about the economy and seizing the opportunity to acquire new talent.

High performers are growing impatient. Pay has been flat and opportunities for promotion are few for at least two years. The combination of opportunistic hiring and restless employees could create a talent exodus for employers who are not alert and acting to retain their top talent.

This will be a critical time to invest in current employees you need to keep, and targeted additions to staff, taking advantage of the unique opportunity that currently exists to tap into the deepest talent pool that’s been available in decades.

Getting the right people on the right seat on the bus will be key to surviving and thriving in the changing landscape of the next new normal. Start by developing an accurate profile of the behaviors needed to succeed in each key job. Using a valid set of behavioral profiling tools will help zero this in with the highest degree of accuracy.

The job profile becomes the benchmark for candidate assessment. A great assessment tool partnered with the right job profile will predict the degree to which the candidate matches the behavioral requirements for the position, and identify the candidate’s strengths and challenges. See example below of a job profile.

Having a clear picture of an individual’s areas of strength and potential growth needs not only helps match candidates to open positions, it’s a great coaching tool to create development plans for current employees. People, especially star performers, whose employers are investing in them by helping them grow are more satisfied and less likely to exit.

2011 will be a critical year to invest in people. Organizations that do will be poised to outperform their competitors and take advantage of the next New Normal.

Are you ready for the New Normal, Part 2?