Remember when finding top performers was easy?
The job market is as tight as a drum with a 20% year-over-year increase in hiring. While this is good news for the economy and candidates, it’s quite the opposite for hiring managers. A whole host of new challenges are introduced with this market condition. The increasing number of passive candidates demands that employers change how quality talent is engaged. With a myriad of options for top candidates, hiring managers must know what’s valued most in a job…and be willing to offer it. In addition, leaders must also know how to assimilate new employees and develop existing ones. The fight for talent doesn’t have to mean war. It just means you need to be armed with the right strategy.
Engaging Quality Talent
According to a LinkedIn article, 70% of the workforce is comprised of passive talent. This means quality candidates are hard to find and challenging to engage. HR teams are trying to adapt to this new trend, but the truth is the resources just aren’t available to these teams. The traditional places to “look” are no longer getting the job done because people aren’t “looking”. Hiring managers must be armed with an experienced, trusted advisor who will serve as a resource and a guide throughout the process. Even if you aren’t hiring now, begin establishing a relationship with someone you can trust. Forcing a relationship when the stakes are high seldom produces positive results.
Beyond Salary and Retirement Plans
The job description is tight. The benefits are good. The pay is competitive. Unfortunately, this is no longer enough. Employees are looking for a workplace that offers much more than a decent salary and 401K. They want to work for a company who has similar values and will be a good cultural fit. Candidates want work-life balance which means flexibility in hours and work location. They want to be part of a company with a strong reputation for expertise, quality, community involvement and innovation so they can feel proud of where they invest so much of their time.
Onboarding Takes on New Meaning
Historically, onboarding involved HR showing a new employee where to find the office supplies, IT support and most importantly, coffee. However, we now understand that new employees need to be oriented with the business values and culture. Critical skills need to be identified. Expectations must be defined. Relationships must be forged. New talent demands this attention and yet it is so often overlooked. Executive coaching from a third-party creates opportunity for new executives to deliver results and impact the organization both effectively and efficiently.
Investment in Growth
Top talent is seldom satisfied in the same position doing the same work year after year. A reputation for leadership development and growth opportunities will attract leading candidates to your organization. Commit to assisting employees with career goals through leadership development. Not only will you appeal to top talent, you will avoid the high-cost of turnover in your organization.
The tight market conditions do not have to bring about war. With the right strategy in place, you can win without even picking up a weapon. You just need to put people first and invest in a trusted advisor.
To earn the role of trusted advisor, Wyndham Mills International separates itself from other providers by practicing disciplines such as listening, asking questions, collaboration and developing both professional and personal trust. We genuinely want to have a conversation with you and offer the insight you need to solve your problem. Give us a call today and we’ll talk strategy.
CONNECT WITH WYNDHAM MILLS
You may see recruiting and developing leaders as a problem. To us, it is an opportunity. We have assisted hundreds of satisfied clients. We look forward to assisting you as well.