Winning the Talent War

Strategies for attracting talent in a competitive market

We are led to believe that successful hiring is simple:  Understand the person you are seeking; write an advertisement; advertise online; interview and then make them an offer they can’t refuse. Right?  Unfortunately, the reality is more complex but not impossible!

Sourcing candidates is not the issue, sourcing and finding ‘top talent’ is the challenge.

Economic factors have made it more difficult to find and hire great people.  Unemployment rates remain low, driving down available talent but that does not explain everything.  Following COVID, businesses are running leaner and have taken steps to retain and nurture their top talent.  Great candidates are likely to be in positions where they are trusted and have autonomy which has taken time to build, and they are not willing to move without a compelling reason. Combine this with a perception of an unpredictable economy, cost of living pressures, Trump and global trade, many candidates are deciding to stay where they are.

So how do you change your approach to win the Talent War?  Here are the Top 6 steps you can take to win the war for talent.

Step one – Develop a solid recruitment strategy

It is important to have a strong process in place for recruiting and hiring the right person. While it’s possible to find good people without a strategy, you’ll have more consistent results if you take a planned approach.

Challenge the status quo.  Be aware of your own biases when developing your strategy.  In a tight candidate market, you must challenge the perceptions you have made in the past.  You can’t afford to overlook any potential candidates. Take the time to review resumes, craft messages and be open to hiring qualified people from all backgrounds. Instead of expecting people to come to you, you need to know where to look, and how to make your available position as appealing as possible and to a widest audience.

Once you know what to look for, it becomes much easier to find qualified candidates who will contribute to the success of your business and team for the long term.

An ideal recruiting process relies on a robust process: 

• Profiling the role / person:
  What does the ideal candidate look like and what will they need to bring to the role?

• Sourcing / attracting talent:
  Think outside the square on where your ideal candidate will be sourced from and how you will reach them i.e. advertising – direct approach – referrals etc.  Write a compelling advertisement that will appeal to your ideal candidate.

• Screening / interviewing:
  Remember to ‘sell’ the role to the candidate.  It is a two way street and top talent will need a compelling reason to move to your business.

• Validating / reference checking:
  Never rely on the interview alone.  Candidates have become masterful at writing compelling cover letters and answering potential interview questions with the assistance of AI.  Past performance is the best indicator of future performance and checking references, with their former direct manager, is crucial.

Step two – Be clear on what you offer

In today’s competitive job market employers need to re-think what they offer as an ‘Employee Value Proposition’ (EVP). Job seekers are hesitant to move and there is heightened importance to clearly articulate what the company’s EVP is. Be clear to the employee about the great future your company holds for them.  Take away their fear of leaving the benefits of their current role and feel excited about your role and company.

Interviews are a two way street.  Ask the candidate what they value.  Don’t assume that your ‘Free Lunch Friday’ will lure them into joining your team.  Tapping into a candidate’s needs and what is important to them will make the difference when you present your offer tailored to them!

Step three – Talk about career progression

The vast majority of candidates are choosing who they work with based on their perception of how their career will progress. If it looks like there’s nowhere to go at your company, they’ll keep walking.   Paint the picture of the possible personal development or career opportunities in the business but do not ‘sell’ what does not exist.  Retention is also your goal and over selling and under delivering will ensure your new hire will make a quick exit.

Step four – Offer flexibility and remote working options

With demand for top talent intensifying, employers are willing to do just about anything to find and retain their people.  We are not just talking about hiring bonuses or free food anymore. Companies are promising flexible working hours, greater annual leave entitlements, and options for remote work arrangements, which we have all become accustomed to.  For the right person, employers have even honoured long-service leave entitlements that may have accumulated with their existing employer.

Step five – Communicate your business strategy and positive outlook

Even when you find that elusive candidate who fits the role, you then must convince them to take the position.  One of the biggest reasons for the candidate’s hesitancy is economic uncertainty. After all, why take a job if there’s a chance you could lose it within a year or two?  Be clear about the future strategy for your business and how this will come to fruition as this will allay any fears the candidate may have – even if they have not verbalised this concern.

Step six – Make sure you put forward your best offer

Candidates are often getting multiple offers. So how do you get top talent to take, or even consider your offer? The solution is to ensure you have covered this in Step two.  At interview you have listened to what is important to the candidate and been clear on your EVP.  The ‘sell’ needs to have happened before approaching the candidate with an offer.  Delivering an offer that is tailored to the candidate, showing you have listened, will ensure your offer is given due consideration.

Great candidates are out there – if you’re willing to do the work. Always remember: to win over the best talent, don’t leave anything to chance.  Follow the steps and place your business in the best position to secure top talent for the future.

Author: Andrew Hill

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