A survey recently conducted by Monster revealed that 95% of workers are seriously considering changing jobs. And about 92% are willing to switch industries for better positions. From this survey, you can see a serious talent war going on in the labor market. So, in this article, you will learn 4 important decisions to help you win the talent war.
It’s pretty funny how the table is turning and gradually bringing about a paradigm shift in the labor market.
Traditionally, employers had leverage in a job interview. But not anymore. Employers are battling a global labor shortage, so the ties are turning in favor of candidates.
Moreso, employers are currently operating in highly competitive business environments. And specialized talents like digital marketing and programming are in high demand and less replaceable.
Unlike today’s workforce, in the gilded age, most workers work in the factory. They perform mundane tasks. And labor was easily replaceable then.
But that is not the same today. One of the biggest assets of any organization is the talent, the knowledge, and the skills that its employees possess.
In a nutshell, there’s a growing percentage of the workforce that are not easily replaceable.
That is because, in today’s world, the technology industry is the driver of most economies. And the industry relies on human talent to produce its best products or services.
For instance, you need a software engineer to write code to produce your app. You need a copywriter to help you write copies for your digital advertising. You need a content writer to help you write articles on your website, etc.
So, here are important decisions to help you win the talent war;
#1. Use High-Level Behavioral Analytics to Identify the right candidates
One of the decisions to help you win the talent war is to identify suitable candidates based on their talents.
When you are trying to hire a talented employee on your team, first ask yourself who is the perfect candidate for this role.
It’s surprising how organizations spend heavily trying to change employees to fit into a particular role. While this may yield results immediately, it could make employees not happy with their job after a while.
A 2019 survey revealed that about 85% of people hate their job. And hiring someone who’s not fit for a role would only increase the number who don’t like their job.
So, try as much as possible to hire the right person for the job. Regardless of how promising a candidate seems, if they don’t have relevant experience, don’t bother hiring them.
For instance, you can’t hire an introvert for a role that requires them to meet with people, interact frequently, and possibly give a public speech.
I know it’s possible to train a candidate to better fit a particular role. But at what cost? And how long can he hold on to it?
If you have to change an employee before they can fit into your organization, the chances are that such person won’t be successful in their role.
In a nutshell, you can’t win the talent war if you aren’t clear about the talent you need in the first place.
#2. Evaluate the Candidates’ Skills
Evaluating the potential candidates’ skills is one of the decisions to help you win the talent war. Before you hire any candidate for a particular role, you should evaluate their experience, skills, educations.
For instance, don’t expect your bookkeeper to be exceptional in their role if they haven’t taken any accounting course in the past.
Of course, the bookkeeper may be competent and have potential. But they will lack the necessary education and skills to excel in that role.
There are instances when the candidate has the requisite experience, education but doesn’t have the skills. In such a situation, you have to consider if the candidate can easily learn the skills within a short time.
If yes, you can hire such a person and hone their skills on the job.
#3. Build a World-Class Training Organization
Hiring the right talent is one part of the equation; the second part is giving the successful candidates the right orientation and onboarding programs. These programs will help the newly hired employee adapt to your work environment easily.
Regardless of how experienced and skillful potential candidates seem, you are setting them up to fail without the right orientation.
So, ensure you teach your talents about your company’s system and processes. Ensure that your new employees understand your organization’s hierarchy and the role they are taking.
And when you hire the right talent for any role in your organization, try to be consistent with your compensation plan.
#4. Ensure Everyone on Your Team Believes In Your Company’s Mission, Purpose, and Vision
Making sure that everyone on your team believes in your company’s mission and purpose is one of the decisions to help you win the talent war.
Top talents are not like other random employees. They are purpose-driven. And when you hire them, they want to your company’s vision and how you want them to help you achieve it.
Be clear about your company’s value as it always gives potential employees the impression of what your company stands for.
Also, when you have a clear mission, purpose, and vision, you will always attract top talents in your industry.
Here’s the thing, your mission and values are not a mere combination of words. They should be the driving force of your company.
Ensure that your hiring and firing decision is based on your value. Also, try to make every decision you make in alignment with your company’s mission, vision, and values.