Finding The Right Formula To Attract And Retain Talent

March 20, 20146:30 pm1220 views
Finding The Right Formula To Attract And Retain Talent
finding the right formula to attract and retain talents

Nowadays, companies are realizing that putting talent retention and acquisition in high priority creates great results for their business. Companies are now more open and delve into different hiring trends and adjust their HR operations to fit the current trends. Still, following process driven methods of employer branding can be bland to most job seekers. According to research, job seekers are more attracted to unique and purposeful work, good pay, and career development that allow them to grow within the organization.

Considering evolving technology, fluctuating global economy and a high demand for “fair work and pay” the global workforce has gone through massive changes over the years. A company would extremely benefit in the years to come by understanding today’s situations to meet the various needs of customers and employees. The following are important aspects HR management must consider when creating a work environment that will attract and retain talent.

Accept and acknowledge the uncertainties of global economy

The global economy goes through uncertain changes, and along with it is the operation of most businesses. HR management must understand that employees of the modern world are unlike the employees of the past. Considering the leverage that talents now have when using technology, almost everyone in the world can compete in the market. Creativity and innovation are more valued today than the technical side of things. Talents today are more right-brain dominant, meaning, they are more aligned when it comes to creativity and innovation.

Consider Investing in employee growth

Organizations that understand the evolving marketplace invest a lot in the professional growth of their employees. To attract new and young talent, they adjust their approach in recruitment process to align with the current hiring trends; creating new jobs as well as develop special training programs.

Since the young talents of today’s generation were raised during the age of digitalization, they will be more demanding for purposeful work and would detest routine, repetitive work. The young people today are risk takers, which can give an extreme advantage in the pool of human resource of a company that properly manages and develops them.

Loyalty is created by providing purposeful work

A lot of companies still refuse to give room for professional growth for their employees they fear that employees will use their freshly acquired knowledge and skills elsewhere. However, studies show that practicing employee engagement regularly will produce more loyal employees than shunning them. A company’s top talents stay if they are rewarded and challenged properly, making sure their contributions are given importance. HR management therefore must provide programs that empower employees to take ownership of challenging work that will not only increase morale but also have a good impact on retention.

The job market is ever-evolving, and the today’s talents are getting more and more used to the old hiring processes. A good strategy would be to adjust hiring processes based on today’s young talent’s emotional and psychological wants and needs.

Next read: Employee Engagement Made Simple

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