The ‘war for talent’ is returning and it is important that your organisation is fully prepared before the intense competition begins.
A great definition of the ‘war for talent’ phenomena is: “a prolonged period of intense competition where top applicants are both scarce and arrogant, employees leave by the droves, firms regularly raid each other for talent, and bidding for top talent is commonplace”
Your firm should beginning planning now in order to stay on top of the competition and if you want to win the competition, you need to be bold about it. Some examples of how companies have been bold with talent management to stay on top of the game include referral bonuses, ‘drive-by recruiting’, turning a mundane job into a game and taking steps for better working environments.
In a talent way, firms need to revamp everything and adopt different and more powerful talent management approaches and strategies. Some companies will also find that they need to make changes to their talent management teams. This most recent war for talent has the added difficulties of the growing world of social media and mobile digital technologies meaning there is a requirement to use new talent management tools.
To be ready for the war, you should prepare for sophisticated recruiting, superior retention, exciting training and a leadership development programme to help replace any lost leaders quickly and smoothly. If you need any advice or help with recruiting top talent, get in touch.