Randstad Sourceright’s CEO Henderson Knows How To Grow Your Midsize Business
Global HR leader Randstad Sourceright found that when businesses reach around 200 employees, their growth often stops and even reverses.
Randstad Global Businesses CEO and Executive Board member Rebecca Henderson ensures HR and talent leaders can play a strategic role in driving growth locally, across regions and globally with talent acquisition solutions and technology.
As a leader in the talent management field who has been recognized by Staffing Industry Analysts in its “Global Power 100 Hall of Fame,” Henderson said Randstad’s consultancy model can expand midsize businesses and help them avoid midsize sluggishness.
Henderson tells Biz how local midsize businesses and nonprofits can compete to win a full-scale Randstad Sourceright talent assessment for free:
Leslie Snadowsky: As the CEO of Randstad Sourceright, a global HR leader in strategic talent acquisition, recruitment and talent management solutions, you’ve seen the business trend – when midsize businesses reach around 200 employees their growth often completely stops and even reverses. Why does this happen?
Rebecca Henderson: Transforming a midsize company into an enterprise organization is one of the hardest things to do in business. Arriving at midsize – around 200 employees – can be the start of a challenging and sometimes perilous time because the processes that elevate a company to this tier – revenue generation, communication and talent management – often stop generating results.
A 2017 survey by Salesforce found 74 percent of midsize businesses believed problems hiring and retaining employees would restrict their ability to grow in the coming years, and 59 percent said they expected the same when struggling to establish and maintain business processes.
To get through this transitional phase, companies need to examine current and future needs and adjust their talent strategy accordingly. The skills gap and workforce planning are especially difficult challenges for midsize businesses, so prioritizing these needs are paramount to continued growth. This requires HR and C-suite leaders to work very closely to develop a clear map of their resourcing needs.
LS: Randstad Sourceright created a consultancy model that helps midsize businesses expand. What is this model and how does it help?
RH: Randstad Sourceright’s in-depth human capital analysis program is designed to help carry midsize companies through to the next level. It applies a combination of tech and human analysis to a company’s most pressing talent issues.
As an example, the approach can involve applying AI-enabled HR tools that use machine learning to find the most talented candidates to fill open positions. We extend that search into the world of contingent workers in the gig economy to help firms get one-off projects completed in the most efficient manner.
The strategy doesn’t rely solely on AI. It is complemented by a robust human component where HR experts identify talent gaps and innovative ways to fill them and technical consultants leverage digital tools for the most efficient formulation of a firm’s workforce.
LS: The current economy seems to have created an “employee’s market” – there are more job availabilities and businesses are offering more perks and incentives to attain quality workers. What should an employer look for in an employee, especially during an expansion phase?
RH: In today’s tight labor market, growing companies should look to hire workers who will help position firms for future success. This means hiring employees with digital fluency, soft skills, and the ability to switch gears and move easily from one project to the next.
Technology’s influence will only grow in the workplace, which is why the most valuable workers will be digitally proficient enough to adapt to new programs. We also know from surveys of HR leaders that tech skills are not enough; workers also must be able to work well with others, present to and interact with clients, and collaborate effectively with a range of departments and personalities. Finally, we anticipate more firms moving toward a project-based workflow in which workers match their skillsets with others on teams that complete regular short-term tasks before moving to a new project with a different set of teammates.
LS: New Orleans is considered one of the best cities to start and run a business in. Why and how should existing midsize businesses empower existing talent with innovation and technology?
RH: Many midsize businesses struggle because they continue using the same methods that worked when they were startups, instead of evolving and adopting mature, cost-saving and talent-optimized strategies. Midsize firms in New Orleans are in a prime position to launch talent management programs that will increase their workforce’s flexibility and reduce the need to hire a new person for every project.
Technology can be a crucial enabler. The tools and innovation being developed today allow workers to focus on value-added work rather than repetitive, labor-intensive tasks. For instance, analytical dashboards can automate reporting and actually provide predictive insights on talent needs so those in HR can better perform workforce planning. On the talent side, workers can leverage automated workforce scheduling so they can plan their own hours for greater flexibility and maximize their time.
Technology can also give workers a learning curriculum that will help them grow into new and different roles. Internal training is critical to this strategy. Employees can train each other in different skills, and firms can adopt online training platforms where employees work through custom training regimens on their own schedule.
LS: Randstad Sourceright recently launched the Talent Transformation Challenge a competition that will award a full-scale talent assessment for free to one midsize business and one nonprofit. Why should New Orleans businesses and nonprofits enter by the Monday, August 12, deadline, and how will they benefit?
RH: At Randstad Sourceright, we know that many firms are hesitant to attempt a talent overhaul or invest in consulting services that promise better efficiency and productivity, especially if they’ve reached a plateau. The Talent Transformation Challenge is meant to show that the right approach to a talent overhaul is easily worth the investment and that midsize firms often have the most to gain. Improving the way talent is acquired, managed and positioned for success could mean the difference between a company folding and a company growing into a powerhouse.
The Talent Transformation Challenge presents an exciting opportunity for two organizations that have yet to fully incorporate a true talent roadmap into their workforce plan. The winners will work with us to unlock their human and technological capabilities to better prepare for the changing world of work and the new economy and to see how productivity can dramatically improve when talent strategies are properly aligned with business goals.
Randstad’s talent consultancy model offers a unique combination of digital tools and a human touch that leverages the best of talent technology with people leading the way. We anticipate a “tech & touch” approach to become an industry standard in the years to come, but for now, New Orleans businesses can only get this free consultancy by entering this competition.