Talent Acquisition, Retention and Engagement
Executive Summary
Preface
As Ohio State travels on an upward trajectory toward becoming the leading public research institution with “world-wide reach,” developing an integrated talent strategy becomes a critical component of our academic strategy, and talent management becomes a critical organizational capability. A great deal of flux and uncertainty in today’s global environment render conventional planning processes ineffective in developing and implementing strategies that would help us achieve sustainable competitive advantage.
Our Critical Issues
Some of the critical talent issues impacting us are:
Impending retirements – Our risk of high levels of faculty and staff eligible for retirement - numbers which are reflected in national statistics.
- 781 active faculty were eligible to retire at the end of 2006 (22% of regular faculty)
- 629 more faculty will become eligible to retire in the next five years (18% additional)
Demographic shifts and pipeline issues –
- Fewer people choosing academic careers raising concerns regarding lack of sufficient talent in the pipeline
- Multi-generational workforce resulting in differences on the issue of tenure
Intensifying competition – There is intense competition for talent with private universities with traditionally large endowments and greater resources. In addition, as the quest for new knowledge grows at a rapid pace in today’s global environment, new fields are emerging resulting in scarcity of talent.
Bureaucracy – As a huge decentralized organization, the following were identified as being problematic:
- Cultural, structural, and funding barriers to cross-disciplinary collaborations and career growth opportunities
- Current lack of organizational “architecture” that would enable the institution to move forward with talent planning and development in an integrated way that is aligned with the university’s goals and enabled by technology
- Lack of strategic focus on talent planning and development
In addition, new academic priorities are likely to result in changes in our talent needs, such as changes in the graduate programs, University System of Ohio, international program initiatives, etc. The potential severity and convergence of these and other issues over the coming three – five years compel us to redefine ourselves and identify new ways to differentiate our value proposition to attract and retain talent that would catapult us to eminence. This challenge requires a different way of thinking.
Our Outcomes
One of the keys to transformation is looking to other organizations and industries for examples of innovation, flexibility, and disruption that have resulted in new models. Therefore, the Talent Acquisition, Retention, and Engagement (TARE) Committee comprising vice presidents, deans, faculty, and staff was assembled to look at current and future talent issues inside and outside higher education. After completing the research and exploration phase that included inviting speakers from world-renowned organizations, such as Proctor & Gamble and the Limited, contacting other academic institutions, such as UCLA, University of Wisconsin, etc., and examining our demographic data and new academic strategic priorities, the following have been identified as elements of our vision:
- Superior workforce and scenario planning methodology
- Vibrant Ohio State employment brand that supports a targeted talent acquisition campaign
- Discovery of new sources of talent and access to world-wide pools
- Career journeys and inter-disciplinary research collaborations that transcend departmental boundaries
- High-impact learning and development strategies, prepare leadership talent to lead in an environment not yet foreseen
- Performance processes that focus the entire organization on the strategic goals and ensure that people are aligned with those goals
- Compensation practices, benefits packages, and work-life initiatives designed to recognize and retain key talent; rewards and recognition that are aligned with the organizational culture shift
Our Approach
The committee members will recommend diversified strategies for achieving the above vision by examining the following:
- Talent Acquisition
- Engagement
- Total Rewards
