What Talent acquisition strategies are needed to ensure our future talent is secure?
The Great Resignation is the name given to the global trend of skilled workers resigning from jobs all over the world, it’s going to require businesses to carefully consider the risks of talent management and seek out strategies to ensure businesses can retain their talent or attract and acquire talent. What talent retention strategies can businesses consider supporting and value their talent within the company ecosystem and what talent acquisition strategies are needed when the “war for talent” is real.
There is no doubt that as an employer we want our employees to show up as their whole selves as they perform better and are equipped to unleash the fullest potential at work. When looking for talent retention strategies this is certainly a key consideration when businesses review flexibility and hybrid models to include work from home, work from office or work from anywhere.
There are various initiatives companies can lean on to ensure they can retain and attract talent to their businesses. As referred in an article from the World Economic Forum they propose some retention strategies which are helpful. In the Global Mobility sector, we have identified that companies are finding talent in different locations from their own offices and businesses are needing to convince the talent to relocate for the job. It has been reported that this becomes a barrier to the talent accepting the position. Speaking to a recruiter Phillipa Geard, she mentioned that often young talent are based in a location they have studied and often cannot afford to relocate for a position. How do businesses overcome these challenges?
Phillipa also mentioned that when there are positions that require high skills sets in a more mature marketplace and currently for example digital and tech skills are highly sort after this talent this requires workplaces to offer attractive benefits, flexibility, and support for relocation to attract this scarce talent pool.
With relocation being the third most stressful life event means that companies should review how they are going to be competitive in acquiring the talent they need when the talent pool is not in their own locality. The world is changing and changing fast and as Lynn Shotwell from Worldwide ERC in her 2022 letter to the industry refers to “Mobility is emerging from the pandemic as a more vital partner with transferees and their organizations. Its role has taken on more talent acquisition, retention, and management elements as it evolves into a more visible bond with the global workforce.”
How is your business managing the talent acquisition strategy?
What strategies do you think businesses could consider to increase the talent pool?
