Managing and winning in the ongoing war for talent

There is no doubt that there is a shortage of talent in the market. A Korn Ferry report shows that more than 85 million positions can go unfilled by 2030 because there won’t be enough skilled people to take them. In such a situation, it becomes difficult to find the right candidate for the job and fill the job positions. Here are some things you can keep in mind while managing and winning the ongoing war for talent:
October 19, 2021

Managing and winning in the ongoing war for talent

Nurture your talent pipelines

Treat your talent acquisition process as a lead generation process. Develop a talent pipeline and nurture it for the future. You can make use of a candidate relationship management system to create talent pools for your company and then further engage with the candidates in those talent pools. This helps to increase the supply of potential candidates for the company and also engages with passive talent who might be available in the future. 

Train your employees 

Oftentimes, companies make the mistake of going on a recruiting spree and not focusing on the employees that already exist within the organization. Instead of trying to fill the skill gap by hiring from outside, you can train and upskill the existing employees. This is a win-win situation for all. The employees learn new skills and feel like their company is prioritizing their career development, and the company gets ROI when the trained employees bring in positive results. 

Have a clear retention strategy 

Being good at talent acquisition is the first thing you need, but it does not end there. The organization needs to have a clear retention strategy so that it can hold onto the talent you have acquired. A clear retention strategy means having a solid employee value proposition or EVP. It determines what all the employees are going to get in return for their efforts towards the company. These may include financial rewards, employee benefits, career development, work environment, and company culture. All these factors play a big role in determining whether the employees will stay or not. 

Make use of advanced solutions for HR

Using legacy systems and doing repetitive tasks manually is not a thing of the present. Make use of technology to improve your HR functions. You can use advanced onboarding solutions to give your new hires a seamless welcome into the organization. Leverage the match-making power of artificial intelligence to find the best candidates for your job positions. Use the applicant tracking system to organize your hiring database. Using technology in the right way can help HR managers efficiently do their jobs and manage talent in a better way. 

Winning the war of talent can be tough sometimes, but your organization can do it with the right strategies. Another important thing here is to maintain an employer brand that the candidates can’t resist. Employer branding can help you attract the top talent in the industry and make them see you as a quality recruiter. Look at how you are training your current employees and what you are advertising as your employee value proposition. Try to use technology for repetitive tasks and humans for building human relationships because solid relations with your potential and current employees are what matter in the long run.

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