Canadian HR Strategy

Fall/Winter 2015

Human Resources Issues for Senior Management

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CANADIAN HR STRATEGY/29 A look at the stats and trends that matter when it comes to organizational excellence HR BY THE NUMBERS P rescription drug bene ts may not stay affordable for long — annual spending on speciality drugs saw double-digit growth in 2014, at 12.1 per cent, ac- cording to drug claims from more than seven mil- lion Canadians. That represents an unprecedented challenge for plans, and put the affordability of drug coverage at risk. SOURCE: EXPRESS SCRIPTS CANADA There are still an alarm- ing number of employ- ers that don't have a successor waiting in the wings to ll critical roles. Only 13 per cent of professionals say there is someone who could easily take on their role if they quit, according to a Canadian survey of 300 accounting and nance professionals. SOURCE: ROBERT HALF MANAGEMENT RESOURCES By the numbers BASED ON THE CURRENT PACE OF CHANGE, IT WILL TAKE 25 YEARS TO REACH GENDER PARITY AT THE SENIOR VICE-PRESIDENT LEVEL, AND MORE THAN 100 YEARS TO REACH PARITY IN THE C-SUITE, ACCORDING TO AN AMERICAN SURVEY OF 118 COMPANIES AND 30,000 EMPLOYEES. AND WHILE SENIOR LEADERSHIP ROLES HAVE THE WORST TRACK RECORD, WOMEN ARE UNDERREPRESENTED AT EVERY LEVEL OF THE TALENT PIPELINE. SOURCE: LEAN IN/WOMEN IN THE WORKPLACE 2015 FEMALE REPRESENTATION NO PLAN B MISSING THE MARK in entry-level professional roles 57% To improve planning, 57% of respondents say they need data on what positions or talent are required to meet business objectives. 57% need data on what is happening with talent acquisition and attrition. There are a lot of different factors at play behind missed business objectives but one key factor is poor workforce planning, according to a North American survey of 323 corporate executives. Most leaders — 73 per cent — have missed business objectives because of talent shortfalls, which was a direct result of poor workforce planning. SOURCE: HARVARD BUSINESS REVIEW / VISIER 41% SAID SOMEONE COULD FILL THEIR ROLE, BUT TRAINING WOULD BE REQUIRED 58% OF EXECUTIVES SAID AN EXTERNAL HIRE WOULD BE NEEDED TO REPLACE THEM 41% 8% ONLY 8% OF EXECUTIVES SAID AN EXISTING EMPLOYEE COULD EASILY FILL THEIR ROLE 46% SAID NO CURRENT EMPLOYEE COULD FILL THEIR ROLE AND THE COMPANY WOULD HAVE TO HIRE EXTERNALLY SKYROCKETING DRUG SPENDING? DUST OFF THAT ROLODEX Stalking potential candidates on LinkedIn may seem like a great way to nd your next star hire — but it might not be the most effective recruitment strategy. Seven per cent of candidates found through referrals account for 40 per cent of total hires, according to an American survey of 1, 600 hiring managers. SOURCE: 1-PAGE APPLICANTS HIRED FROM A REFERRAL BEGIN THEIR POSITION QUICKER — AN AVERAGE OF 29 DAYS AFTER THE HIRING PROCESS BEGINS. APPLICANTS HIRED VIA JOB BOARDS STARTED AN AVERAGE OF 39 DAYS AFTER THE SEARCH BEGAN — AND THAT NUMBER CLIMBS TO 55 DAYS FOR THOSE FOUND VIA CAREER SITES. 46 PER CENT OF EMPLOYEE REFERRALS STAY FOR THREE YEARS OR MORE, COMPARED TO ONLY 14 PER CENT OF THOSE HIRED FROM JOB BOARDS. 0 1 2 3 4 5 6 7 8 7% 3% 7% 2% 7% 5% in manager level roles in senior manager/director level roles in vice-president level roles in senior vice-president level roles in the C-suite SPECIALITY DRUGS ONLY REPRESENT ONLY 2% OF CLAIMS, BUT 26.5% OF SPENDING. SPECIALITY DRUG SPENDING REPRESENTED 24.2% IN 2013. SPECIALTY DRUG SPENDING IS EXPECTED TO REACH 35% IN THE NEXT FIVE YEARS. THE TOP 1% OF ALL CLAIMANTS COMPRISED 28% OF TOTAL SPENDING IN 2014.

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