If you’re a manager, leader or someone who’s responsible for hiring staff, chances are you’ve noticed a seismic shift in the employment market so far this year. The “Great Resignation” and “Great Reshuffle” are more than trending hashtags — they’re a stark reality for many organisations around the world that are experiencing a mass exodus of staff.
The Microsoft Work Trend Index found that over 40% of people are considering leaving their employer in 2021. At the same time, the importance of recruiting and retaining top talent isn’t lost on senior leaders around the world. PwC’s Annual Global CEO survey for 2021 found that “the creation of a skilled, educated and adaptable workforce” was at the top of the priority list for those surveyed.
If you’re trying to grow your team, or you’ve had staff jump ship to work elsewhere, you’re no doubt experiencing the challenges of attracting and acquiring great people in the current Covid-climate.
Here are three tips to win the war for talent, in a market where candidates are in the driver’s seat.
1) Review your Employee Value Proposition (EVP) with a post-pandemic lens
Your EVP is made up of the unique benefits your company offers its employees. An EVP isn’t just about compensation — it should include reward and recognition programs, professional development opportunities and community initiatives. A well-articulated EVP will help your organisation stand out from your competitors and more easily attract candidates and top talent to your business.
You may have had an EVP in place before the pandemic. However, chances are your organisation has also gone through some degree of change and transformation over the last 18 months or had to do a complete pivot. As a result, your EVP has likely changed, or at least evolved, since the start of 2020 and the arrival of Covid-19.
Furthermore, many people’s priorities have changed since the pandemic. While your EVP needs to be authentic and true to your organisation, it’s worth considering what your target candidate market is prioritising in a post-pandemic world (e.g. organisations with a compelling purpose, a high degree of social responsibility, a commitment to caring for employee’s mental health, flexible work options).
So, the first step to attracting the attention of the right candidates and giving yourself a shot at having them apply is to review your EVP to ensure it is up to date and relevant to today’s context.
2) Leave no stone unturned — consider candidates with transferable skills and experience
Once you’ve established your EVP, you’ll be ready to start considering candidates for roles. Whether you are receiving applications or proactively tapping people on the shoulder, it’s at this stage that you’ll be weighing who is worth interviewing and offering a role to.
In a market where candidates are in high demand, it’s the employers who keep an open mind and think laterally who are winning the war for talent.
The pandemic has resulted in major disruptions to many industries, including travel and tourism, brick-and-mortar retail and hospitality. Employees from these sectors are now candidates looking for new opportunities in a different industry. If you’re hiring and considering which candidates to interview for a role, look beyond their industry experience and pay closer attention to their transferable skills, attributes and soft skills.
Many of these displaced candidates have also spent the last 18 months undergoing training and achieving qualifications in new fields and simply need the opportunity to put these new skills to use.
3) Evolve your talent acquisition process from reactive to proactive
If your talent acquisition process begins by posting a job ad a few days after someone has resigned, then you’re already behind the eight ball.
Take a forward view and consider who you are going to need to hire in the next 12 months. Factor in your company vision, your goals and strategy, and which parts of your business will be growing as a result — or will need to grow in order to implement and achieve your plan.
From there, create a multifaceted, proactive talent acquisition plan. Leverage the myriad of recruitment technology options to build your talent pools and remain connected with these prospective candidates on a regular basis. Nurture your relationship with them and keep them informed and engaged with your organisation as a potential future employer.
If the candidate market in your area is currently depleted due to border closures resulting from Covid-19, consider the fact that talent is everywhere in a hybrid world. If the role you are seeking to fill can be delivered remotely, are you able to proactively market that role to candidates in other locations? It’s also worth remembering that borders won’t remain closed forever. Many organisations are proactively growing overseas talent pools now, in anticipation of the ability for candidates to once again relocate overseas in 2022.
A high-performing organisation needs a team of high-performing individuals. If you need to rebuild or grow your team, start by reviewing your EVP through a post-pandemic lens, consider candidates with transferable skills and experience, and shift your recruitment mindset from reactive to proactive. By following these three steps, you may find yourself surprised by how much talent is available.
This article originally appeared in Forbes Technology Council here.
CEO at Scout Talent. Harnessing the potential of technology and the passion of people to grow companies, careers and communities.