3 key strategies for winning the ‘war for talent’ in 2015
For as long as just about anyone can remember, companies have placed a great deal of emphasis on winning the so-called “war for talent.” If you can outdo your competitors when it comes to hiring skilled employees, it also stands to reason that you can best them each quarter with your bottom line. A talented company is a successful one, typically.
What’s interesting is that in recent years, the “war for talent” has become significantly more complex. Companies have had to revise their strategies for recruiting to adapt to a labor market that’s changing rapidly.
According to Forbes, there are two main factors influencing the changing war for talent. George Bradt, author of “The New Leader’s 100-Day Action Plan,” spelled them out. One is the changing economy – as the United States climbs out of the recession that characterized the late 2000s decade, we are now inching closer to full employment, and it’s a “candidate’s market” where the employers lack leverage.
The other factor is the influx of a new generation. Baby boomers are fading away into retirement, and in their place, millennials are arriving. These employees tend to be more fleeting, as they use all the technology at their disposal to hop from job to job often. For employers, this means more fighting to secure the best people.
Add up these two factors and, as Bradt sees it, you’re looking at a dramatically changed talent landscape.
“There has been a seismic shift in the war for talent,” Bradt argued. “Those that don’t understand that shift and change their approach to talent management are going to fall into a newly opened crevasse from which they may never escape.”
So how do you stay out of this “crevasse?” How do you stay with the times? The following are three strategies for winning the “war for talent” as it stands today, in 2015.
Add depth to your recruiting pitch
There are a million companies out there trying to recruit people. How will you separate your recruiting pitch from the rest of the crowd? One idea is to tell a more meaningful story to your potential recruits. Give them a narrative that reveals your company culture and makes you more appealing. The same bland talking points just aren’t as effective anymore.
Bring meaning to the onboarding process
Once you hire people, you want to follow up by doing a better job developing talent. This begins with the first day – immediately as you start to onboard your employees, you want to talk to them about the long-term goals of the organization and explain where they fit in. This way, every worker can feel like they’re contributing to something bigger than themselves.
Improve employee retention
The best way to keep your staff talented is to retain the good people you already have. To that end, work hard to create opportunities for your employees to learn, grow and take on bigger roles. Make your workplace a place where everyone can advance toward achieving their long-term career goals.