How to make your business a talent magnet

We all know the world of work is changing rapidly, and according to Deloitte, in their research entitled Human Capital Trends 2015 (Leading in the New World of Work), on a global level, HR has not developed the capability to keep up with these rapid changes, much less create the conditions for a business to be a talent magnet.

There has been a seismic shift in the relationship between employer and employee.   The result is that employee voices are being heard, they are becoming more empowered through technology and social media. The call on employers to develop soft skills, whilst demonstrating ethics and values in a way which is very different before the economic downturn hit the world is very real.  Business leaders must be “talent ready” to remain competitive and attract the best talent for their business.

For HR, this means a whole new mindset in the way in which we source, attract and retain talent.  We need to shift from attracting talent when we need it, to being a talent magnet at all times.  To make sure your business is attracting the best talent involves a number of factors which HR must have an exceptional grasp of.

1.  Understand the Shifting Talent Marketplace

The world has become smaller, and your talent might be sourced internally, externally and in some cases internationally.   An HR Professional needs to understand the current and future needs of the business:  The shifting nature of terms, conditions and competition and finally where and when their talent pipeline begins.  In some respects growing internal talent is almost always an accolade to your people.  Growing internal talent will not work if the methodology is not fit for purpose.  Internal candidates should not be set up to always expect to be offered the job in every situation.  Often in successful businesses, there is a healthy mix between internal and external candidates.   Additionally, understanding the market in terms of reward, benefits, environment and accessibility is key to understanding where, when and how to take action to be a talent magnet.

2.  Offer a Meaningful and Purposeful Reason for Existing as a Business

The research is clear and the Jury is back.  Research has shown people want to find real meaning and purpose in what they do with their lives and their lives at work.  A number of years ago I worked with a team who had lost their meaning and purpose.  Results were poor and morale was low.  Their meaning was based around the service level provision for the customers they provided for.   Once we changed their mission to values-based, measurable outcomes, which they loved, their energy levels changed almost immediately.  Their goal?  “To at all times, go the extra mile for their customers”.   People will stay with an organisation if emotionally they feel good about what they are contributing to the world at large.

3.  Create an Irresistible Employee Experience

The truth is, unless your employee who has sought after skills, is happy at work, they will leave and move onto a business which will more align to their needs and wants.   To get around this, there are a number of ways you can prevent this.  Firstly you have to make sure your existing talent has a positive and affirming experience by virtue of working for your business.   To make this shift, businesses must value the existing employee experience as much as that of the customer experience.   A business must strive to become an “Employer of Choice”, and aim to be one of the best employers in their particular industry.   Concentrating on wellbeing throughout the employee experience will be a very attractive benefit for employees in the future.

4.  Use Networks and Social Media

There is no beginning and no end to networking and building relationships with potential candidates.   Because of this, in this social and digital age, you are always on duty.  Many businesses use social media and digital to attract and enhance the customer experience.  It is now time to both enhance the employee experience and the potential employee experience through these platforms.   Forming relationships and developing networks via social media and web presence are the way forward.  It is an unstoppable force and one which HR professionals must embrace if they are to attract talent moving forward.

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