Many employers are struggling to find people who can help them reach their goals. In a survey of HR leaders by Ranstad Sourceright, 73% of HR leaders feel a “war for talent” is still a relevant description of today’s talent market. Innovative approaches to attracting talent are popping up and will benefit many employers, especially early adopters. Solutions range from software that helps identify better candidates on the internet to quality of life improvements, including wellness programs and work-from-home arrangements.
While these approaches may prove helpful, some feel a bit reactive. Employers can take steps today that will help ensure long term success with attracting and retaining top talent. In a SlideShare called The Talent Gamble by Executives Online, the authors describe six steps to take to become a Destination Employer, or Talent Magnet.
- Understand the investment top talent makes for you. It’s the blood, sweat and tears they put into succeeding for you. They’re not just commodities.
- Treat talent as customers. They’re discerning as your most important customers. They don’t accept mediocrity and won’t tolerate it. Instead, they thrive on partnership and authenticity.
- Demonstrate high quality of leadership. Employees want leaders who are respected and allow them to develop, and will lead from the back.
- Understand that culture trumps strategy. Planning is guessing if you don’t have your culture right.
- Demonstrate how you grow people. They know if you don’t provide opportunity to grow your competition will.
- Reward comprehensively. After a point financial rewards won’t appeal. What really matters is the fulfillment they get, that they feel they belong and are central to your company’s future.
Taking these steps will require change for most employers – massive change for some. But the payoff will be worth it. According to Employers Online, talented people view working for Destination Employers as the pinnacle of their careers. So for employers, developing a culture that attracts and rewards top performers can make the difference between long-term organizational success and an agonizing path to irrelevance.
Call me for more on how to turn your company into a destination employer.