How to win in the Talent War
Dr. Rebecca Koch
CHRO MDAX | INSEAD IDP-C | Top 40 HR Leaders | ex-Bain | Board Member | Transformation Driver, Digitalization Evangelist & AI Enthusiast
It's become a top concern for every company worldwide: How to attract the talents that can and want to drive change and sustainable business growths? We are not only competing for talent in innovative fields such as digitalization. Talent is rare globally and in all kinds of fields – from educators to blue-collar workers to general managers and IT specialists.
Fact is: employers can only implement solutions in the spheres they can influence. And at the same time, there is no such thing as the ONE KEY solution that will create miracles. In contrary, it is the mix that will slowly show improvements in finding, attracting and retaining talents. From my experience, these initiatives shouldn't be missed in your talent strategy: ??
??????????????????: As finding top candidates becomes more and more difficult, retaining them must be a priority. → Do you know why your employees stay or leave??
???????????????? ????????-????????-????????????????: Life develops in phases and so do employees' requirements and expectations. Whether it is mental health offers, flexibility to balance career and family demands, mobility solutions... There is no one-fits-all solution and employees expect their employers to support them with their individual demands.?When employees want to switch from 40 to 30 hours or vice versa, employers need to offer solutions or employees will look for them elsewhere.
?????????? ???????? ?????? ????????????????????????: It becomes less and less likely to find a candidate that meets all the criteria of a job opening. Hire for attitude, train for skills! To find these people who bring the right attitude and willingness to learn, adapt your job descriptions: focus on describing the role and the company culture, not the required technical skills.??
?????????? ???? ??????????????????: Diverse teams are 25% more likely to create above-average profitability (McKinsey 2020). In addition, driving diversity will enable you to tap into the Gen Z talent pool: 83% of Gen Z candidates says that a company’s commitment to diversity and inclusion is important when choosing an employer (Monster survey 2020). → Win-win situation!
???????? ????????????????????: Employees carefully select the leaders they consider to work for. Investing in good leadership competencies is not a key success factor - it's the basis!
???????????????????????? ???? ??????????????: As companies are competing for talent, the WHY is becoming of increasing importance. Having an attractive purpose is not a "nice-to-have" anymore. It will influence whether anyone wants to work for you.?
?????????????? ???????????????? ?????????? ??????????????????????: If companies want a diverse workforce, they need to be equally attractive for the individual personalities. A one-size-fits-all value proposition might not work anymore in the future.?
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???????????? ????????????????????: The Talent War is not equally unfolding in all markets. Indeed, there are (few) countries with a talent surplus in the next year. Tapping into these markets is not only a chance to fill your open positions, but to become more diverse at the same time. → Win-win situation!
?????? ?????? ???????????? ??????????: No one stays because of a functioning IT setup, a fair compensation, the availability of safety measures or the resources that are required to do one's job. But, if these things are not available, people will leave very quickly.?
What would you add to the list?
Sources:
FCIPD Mentor,Advisor,Coach,and Lifelong Learner ??Organisational Change Advisor ??HR Transformation and Shared Services Expert ??Talent Coach & Mentor ??Advisory Board Chair and Mentor -PushFar.com.??
1 年Great article Dr. Rebecca Koch . Thanks for sharing. I would add to the Attraction Retention , Motivation and Values alignment themes highlighted , with the inclusion of active personal development, and clear career path opportunities - such as offering a mentoring program for growth - as part of the whole employee experience . According to a recent Forbes survey 94% of employees say they will stay with an organisation if career mentoring is part of the compelling offer. And for office workers the offer of hybrid office/ virtual working is now a given and a differentiator that progressive organisations will offer.
Managing Director Talent & Organization and Practice Lead | Digital HR | Gen.AI
1 年Pretty good list Dr. Rebecca Koch ! Maybe you can aim to personalise and innovate the recruiting and onboarding experience - e.g. combine classic digital tools with metaverse experience or generally redesign the process with a focus on experience and personalisation. This makes it interesting and combines it with learning ?meanwhile“ you are applying for a job… just an idea!
Create added value through a holistic and strategic people approach
1 年Absolutely true. I would add ?? "offer them development opportunities" - research shows, that talents want to grow (horizontally or vertically). It doesn't matter if it is a leadership or expert track, but they need a long term perspective how to develop themselves. This helps employers to engage (and retain) talents and it demonstrates appreciation as part of the company culture, which can make a difference to the competition. In addition, this increases internal mobility which is also important for future success.