Over the years, there is a growth in the number of employers having difficulty in filling positions. Manpower Group’s annual Talent Shortage Survey has been a witness to the alarming trend. In the previous year, 2014 was considered to have the highest percentage with 36% since the year 2007’s increase to 41%. This 2015, the data collected resulted to a 2-percent rise (38%) which is now the highest percentage since 2007. No change is seen, however, in the percentage of employers (54%) who say talent shortage impacts their ability to serve clients, yet more than 1 in 5 employers is not pursuing any strategies to address talent shortages.
As if the previous data isn’t worrisome enough for organizations, the ongoing War for Talent is getting even more intense. Competing organizations are more aggressive, prioritizing strategies on how to acquire, develop, and retain skilled professionals – knowing that talent is a big factor in an organization’s success.
With the possibility of the current situation to continue on or get worse, organizations should be ready to make changes to prepare them ahead of the challenges. Here are some tips to consider when creating strategies in facing the talent war:
Develop your own by you, for you.
Organizations still prioritize searching outside their own walls for talent. While this may seem as the easy solution, we should be reminded about the shrinking talent pool. The best place to find workers who could create a positive difference in the company is in the company itself. Their strengths and weaknesses are already identified which gives you an idea on how to build them on further, creating a strong workforce that are surely aligned to your organization’s goals. Aside from that, developing internally also increases employee productivity and retention rate.
Take off your blinders.
Don’t be a slave to a position description. The “perfect” candidate is like Bigfoot – it is a myth. When looking for talent outside, stay open-minded and flexible. Be reminded that the key to finding great talent is to focus on how motivated they are to grow and reinvent themselves, not just their hard skills. These are the type of workers you can work with who’re willing to develop alongside your organization.
Maintain great culture in your organization.
To quote Peter Drucker, “Culture eats strategy for breakfast”. How people interact and get things done at work has a huge impact in keeping talent and an organization’s success. Aside from a competitive set of salary and benefits, a strong workplace culture attracts and retains employees. Creating an environment where people can form healthy relationships, enjoy each other’s company, and take pride in their work motivates employees to do their best and convince future hires to want to work for you.
Achieving success is easy with the right set of people on the job. Despite talent shortage, great talent is just around the corner, or maybe even in your very own walls. What’s important is to recognize a person’s potential and create opportunities for development to lead your organization to the top.
Create a stronger strategic orientation to the boardroom and build a bridge between the changing needs of global business and an increasingly fluid labor force with the help of Salvo’s Certified Talent Economist Program. Due to popular demand, the course will run in 5 different countries, namely Malaysia, Nigeria, South Africa, UAE, and Singapore.