A recent report by Ernst & Young highlighted the need for organizations to rethink their approach to recruiting and managing talent, or they may forever lose their competitive edge in the race for growth.
Any hiring manager will tell you today that hiring the right people for your organization is more important than ever. There has been a widening gap in skills and the reduction in proficiency in math, accounting and science has greatly affected certain skilled areas.
For your business to remain competitive you need talented people. However, it is the need for the right skills which is also vital. There is a shift in talent where certain skills are becoming old or useless. Companies are not identifying early enough in the process, and investing in the critical talent that they need to drive their business forward.
The study said that increasingly business is becoming about managing a team of champions as opposed to a champion team.
One of the key reasons why team dynamics have changed from the more traditional is that it has become increasingly uncommon for people to spend their careers at only one or two organizations. The newer generation and those influenced by them is more diverse, mobile and digitally connected and flexibility and development opportunities are vital to them. This has led to organizations needing to take a more individualized approach as they fill their talent gap. They have also increased employee engagement and improved the workplace culture.
Organizations need to hire not only for the current job requirements but to foresee and hire for what is needed next.
People are using their mobile devices to maximize every moment of their lives and thereby cram in more content and consume more. Their connectivity has introduced a much more open discussion of products, services, work experiences and issues and these talented employees are no longer restricted by more traditional borders. They now take the opportunity to decide not only for whom they will work, but where as well. This leads to a greater focus required on your company’s branding and image to attract the right talent.
Many have experienced that offering a larger pay package is no longer a clear path to success. It is the implementation of the best talent recruitment and management processes that make one more prepared to capitalize on new opportunities.
Here are three tips that the study offers for recruiting the best talent:
- Continuously look for talent
Too often we wait for there to be an opening and then fill it with the wrong hire because we run out of time. You should always be on the lookout for the right talent, even if you do not have a current opening. Proactivity in evaluating your team and recognizing the talent gaps that need to be filled, often allows the luxury of sufficient time to fill those positions.
- Source talent innovatively
We all remember when an ad in the local paper or the posting in a trade magazine would yield sufficient candidates for us to evaluate and find our ideal hire. Today it requires using every medium available, be it networking, social media or online connectivity. As you go through your daily life have you ever thought about that outstanding server in the restaurant or superb assistant in your favorite store and thought about offering them a customer service (or other) position?
Recruiters and HR departments are there for more than finding talent – they need to attract talent. They also have a selling role – selling the opportunity, the company and all the benefits that go with that.
Here’s to happy talent management!