Attracting the Right Talent — Is there a difference?

Mar 12

Attracting Talent When Competition is Fierce

I bet you would say that finding top talent is one of the most important factors in running a successful business. So what do you do when there seems to be a shortage?

In the current labor market, there are more jobs than there are people to fill them. It’s a full-on talent war, and the employees have the advantage.

There are a lot of reasons this has become of the state of things. First off, our beloved Boomers are retiring. (And they are taking with them their years of knowledge and experience.) More people are going to college, too, and this means fewer workers to fill the low-skill jobs. Legal immigration is also down 20%, and on top of that, jobs aren’t being automated as quickly as we thought. The economy is trucking along, but the workforce isn’t quite keeping up.

This translates into a fierce competition between organizations. In order to stand out and get the hires, you have to think carefully about the unique value you offer to potential employees. (This would be your EVP — or employee value proposition.) Because if people have lots of options when choosing which organization they’ll give their time, energy, and ideas, why would they choose yours?

Here are 6 elements of an organization that attracts the best people:

People-centered culture

People are the heart of a business. They want to know they are cared for and that they matter. Personal connections are quite powerful, and when you can grow a culture that supports closeness and friendships, it’s not only enticing to potential hires, it’s also a great way to keep them once they sign on.

Quality leaders

People want to believe in their leaders. They want to feel inspired and supported by them. In fact, employee engagement depends so heavily on managers that you have to make sure you have the right people in these positions if you hope to retain the rest. People want their leaders to be more like empowering coaches rather than controlling bosses.

Ongoing growth and development

The world keeps changing, and the pace won’t be slowing anytime soon. This is no longer a new phenomenon; it is the norm. Opportunities for growth, development, and continuing education must be built into the system. (Especially if you want to have any chance of hanging on to those job-hopping but incredibly valuable Millennials.) They want constant feedback, too, to feel a sense of momentum and progress.

Solid brand reputation

You can bet that the top talent you want and need has researched you online. And word of mouth travels fast, too. You need clear mission and values, strong results, a positive online footprint, and a worthwhile contribution to society. People want to feel pride and purpose in an organization. They also want authenticity. This means the promises you make to them better translate into something real.

Flexibility

The physical workplace is still important. This is how relationships are built, ideas are born, and creativity thrives. People need their environment to be inspiring. But they also desire flexibility — the potential to adjust work hours or telecommute occasionally. They want to know that you value them as human beings with lives outside of work.

Job meaning

People want to have purpose and significance within their organization. It’s not enough to know that their organization has it; they need to know that they are making an individual contribution as well. They want their job to be interesting and engaging. Yes, people want a fair wage and benefits. But money is no longer the most important driving factor in job choice.

In Summary

People aren’t just looking for a paycheck. They are choosing a place to invest their time, energy, and ideas. When you show them that you truly care about their needs and wants, you make it easy for them to say yes to your organization.