TalentLab

The War for Talent

The war for talent brings a major disparity between two things: a rise in vacancies, and a lack of suitable talent to fill them.

In fact, with the loosening of lockdown rules in place, over one million vacancies have been posted across the UK.

Stuck amdist this mass migration, it’s a really critical time for HR leaders to draw in new candidates, while still engaging the top talent they have.

So, how do you get the best people through the door?

 

The Money Game – is it valid?

A lot of the attempts to solve this issue, unsurprisingly, seem to involve driving up salaries.

Let’s not beat around the bush. Quantifiable compensation does have its leverage with average earnings spiking by 8.8% in the three months through June.

It makes sense, right? If there’s more people looking for jobs, reel in the top talent with heavy figures.

But this doesn’t seem to be as effective as once assumed – even now, the availability of

workers is the lowest it’s been in 24 years!

So how do you go about enticing great candidates – and, not to mention, retaining the talent you’ve got?

Thought about alternatives outside of just compensation?

Show how much you value employees

It’s a phrase that’s used all-to-often used by companies: ‘people are at the heart of our company’.

And without being too cynical, it’s sometimes used without much care.

While compensation will always be a consideration, it looks like there’s just as much attention being paid to the immaterial.

Today’s candidates are also looking for a range of incentives you can’t put a value on – Life-work balance – Career progression –Mentorship – Social opportunities.

Take control of your digital presence 

Make your culture visible.

How are you presenting to candidates who might be looking to get more information about your company online? Are they getting a good sense of your company culture on all your visible platforms?

Now more than ever, your digital content should be aligned with your values & mission.

Work on first impressions 

Candidates in the market for a new role are sensitive to intel about what your company culture might be like, and they look for clues in your communications with them.

Keep them in the loop during the recruitment process, give feedback and come across as organised and respectful of the fact that they’ve taken the time to apply.

Cast the net wide

How are you advertising opportunities?

It’s worth re-framing this if you’ve been doing the same old thing for years, because recently there’s been a shift. If you’re not using a specialised recruiter and just posting job ads, it’s time to start using different platforms to get your ad in front of your target audience.

At TalentLab, we think there’s nothing more important than taking care of our people. We run several great CSR initiatives that get people volunteering, building relationships with teammates, and giving back to the local community. When we do this, we shape a team that feels genuinely rewarded not just for the work they do, but for being a part of our company community.

If this sounds like an approach that could work for you, get in touch via sayhello@talentlab.uk or visit www.talentlab.uk to find out more.