Rewriting the law of latent talent attraction amid great resignation and great reshuffle
If the pandemic taught us anything – it was to be more human, kinder, and compassionate to fellow human beings. It changed the dynamics of how things worked out previously, not only at a personal level. It is reflected in workspaces as well.
Nearly 4.4 million Americans quit their jobs in February – the term was coined The Great Resignation
Well, yes! People were leaving jobs because they were unsatisfied with their current jobs or the lifestyle they led to. But quitting did not mean that everyone wanted to leave the corporate world. The talent just went latent. Waiting for the right opportunity.
People sought jobs that were well-rounded – jobs that provided desired money, work-life balance, and tangible and intangible career growth. This all led to the ‘Great Reshuffle’. The attrition rate was at an all-time high.
While people were choosing jobs they wanted, organizations that couldn’t provide the right work culture were harshly facing the music.
The market that was already employee-centric went employer-resistant. Organizations had to evolve fast to accommodate the employees’ needs.
On the other side, few organizations that had aligned themselves to the new post-pandemic era were quick to grab the candidates they desired on the candidates’ terms. But the majority of organizations were finding it to retain and hire the preferred employees.
The real problem is this scenario is well continued and will continue.
A recent survey by PwC found that workers are planning to quit their jobs at an alarming rate, with one in five saying they will do so in the next year.
So, apart from retaining talent, how do organizations find latent talent for their growth? How do they attract talent that has gone silent? How do they bring the potential talent back into the game?
Here are a few tips to rewrite the law of latent talent attraction amid the Great Resignation and the Great Reshuffle.
1. Forget geographical boundaries
The law of latent talent attraction is simple – employers tend to forget about geographical boundaries when it comes to looking for great talent. They would rather have the best talent working for them, regardless of where they live.
This was evident during the pandemic when many companies tightened their belts and looked for ways to cut costs. One of the first things they did was to reduce or eliminate their overseas recruiting budgets.
However, they must realize that they are missing out on a lot of great talent by doing this. They must now start to focus on attracting talent from all over the world, not just from their vicinity.
2. Branding is everything
The second point is that branding is everything when it comes to attracting talent. If you want to attract the best talent, you need to have a strong brand that is attractive to them.
There are many ways to build a strong brand, but one of the most important things is to create a positive employer brand. This can be done by creating a great company culture, offering competitive salaries and benefits, and providing career development opportunities.
If you can create a strong employer brand, you will be able to attract the best talent from all over the world.
3. Career progression
Third, when you are looking to attract talent, it is important to have a clear career progression path chalked out right from the beginning. This will allow potential candidates to see that there is room for growth and development within your company.
Many companies make the mistake of not providing clear career paths for their employees. As a result, talented individuals often end up leaving for other companies that can offer them better opportunities.
If you want to keep the best talent, you need to make sure that you have a clear career progression path in place. This will help to retain your top talent and attract new talent as well.
4. Cultural adaptation is a must
Fourth, when you are attracting talent from all over the world, it is important to remember that cultural adaptation is a must. Different cultures have different values and norms, and you need to be able to accommodate these differences.
If you want to attract global talent, you need to create a company culture that is open and inclusive. You also need to offer support for employees who are looking to relocate to your country.
Many companies make the mistake of assuming that all employees will be able to adapt to their company culture. However, this is not the case, and you need to be aware of the cultural differences that exist.
Only by accommodating these differences can you hope to attract the best talent from all over the world.
5. Qualified talent pipeline for quick recovery
Last but not the least, it is important to have a qualified talent pipeline in place so that you can quickly recover from any setbacks. This is especially important in today’s rapidly changing mindset of employees.
It will be harder to retain employees for a longer period, and hence, new ones must be found quickly and efficiently. Hence, a talent sourcing team, whether in-house or outsourced, is a must to build a sustainable and engaged talent pipeline.
To sail through the Great Resignation and the Great Reshuffle, it is important to remember that the more you expand your horizon to attract talent, the more you will be successful. The key is to adapt to the needs of potential candidates and show them the value your organization adds to their lives!