How Will You Win the War For Talent?

Posted by JanineGilmour under Strategy
From http://tweakyourbiz.com 4241 days ago
Made Hot by: businessluv on April 17, 2013 9:55 am

Wouldn’t it be great if you could snap your fingers, and have the best and brightest people working for you? What could your business achieve if only you had talented, focused, thriving people committed to making your business and their careers a huge success?

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Comments

Written by elainerogers
4236 days ago

I was thinking of Dale Carnegie as I read this post - He implies that every person has one main inherent need - to be appreciated, to feel important. Everything else comes from that core need.

Any praise, reward or feedback needs to be genuine, and as Heather below mentioned, not an "empty gesture" - I'm sure we have all experienced similar at one point. Talent will walk if not enriched, empowered, appreciated and rewarded.

One thing I would add to this conversation is the importance of the "hirer" role in all of this. Strategy will only work if executed well, and by the right people. I have many clients who have been frustrated by the hiring process used in companies they applied for work. The most common complaint is about the interview, and more specifically, the interviewer. It's hard enough to find the right talent for our businesses, but we must honour them with quality and experience in our human hiring process.

Great post Janine.

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Written by JanineGilmour
4235 days ago

Hi Elaine - sadly the hiring process in many organizations is lacking. In larger companies that employ applicant tracking systems, roughly 75% of potential employees are screened out based solely on key words searches. These resumes never see the light of day. From there it is often a junior HR person with limited familiarity with the role who develops a short list to put in front of the hiring manager. For the candidates who make it this far in the process (alas not always the best candidates) the interview process can be daunting. Best case - an HR professional is at the table to help the hiring manager.

In smaller companies there can be a lack of training/support for the hiring manager to conduct an effective interview that let's both parties make informed decisions.

All this and then we wonder why the relationship can be strained right from the beginning?

Poor process - human and electronic - seems contrary to the need to attract talent.

Knowing how to navigate the process helps. But in the end, if things feel bad at the interview stage it's often an indication of other significant issues.

Thanks for weighing in on this Elaine.

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Written by AngelBiz
4236 days ago

Janine - Nice framework to address one of the most important challenges for business owners. You also need to look at the small and simple things like appreciation, recognition and small, frequent rewards. These can go a long way towards attracting and retaining employees.

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Written by JanineGilmour
4236 days ago

Hi AngelBiz - how true! Too often we forget the simple things within our immediate influence have a huge impact. It would be a nice switch to hear more people talking about how terrific they feel for being recognized, supported and appreciated - rather than the reveres.

Great advice!

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Written by HeatherStone
4241 days ago

Hi Janine,

Your post hits on some key points, but there's an elephant in the room in every post like this one--the fact that "recognition" generally needs to translate to money/compensation/benefits of some kind. Yes, people want to do their top work for personal ambition, to feel a part of something bigger than themselves, and for all other altruistic reasons...or for creature-comfort reasons like free gym memberships and cappuccinos..but when talent feels it's underpaid...it goes elsewhere, simple as that. All the input and extras only go so far in a down economy--in many businesses they're just attempts to grab at straws--and talent will always choose the ability to pay their bills and enjoy their lives on their own terms over intangibles like recognition programs. Personally, I've been on both sides--employee and owner--and I'd rather figure out a way to budget for the inevitable carrots necessary to attract and retain talent than spend time on empty gestures that stroke the ego, mollify, and cajole. Not that you were saying just that..but I guess your post sent me off on that tangent, lol..

Well, keep up the posting, and thanks for sharing on the BizSugar community as well!

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Written by JanineGilmour
4241 days ago

Hi Heather - it's true that employees need confidence pay and perks are "fair" relative to their work and the local market. Also the less intrinsically satisfying work is the more focus there is on pay. At the other end of the spectrum, many high income sales roles focus on income as a measure if success.

In fact, it's so common to hear talk about total remuneration it would seem pretty realistic that you need to buy talent.

And yet... research shows consistent evidence that if pay is fair (meaning somewhere in the mid-point of market) people may be initially attracted by money but they commit and stay for other reasons such as meaningful work, good leadership and on going commitment to professional development. (see http://64.17.184.140/wp-content/uploads/2012/12/V4I1-7.pdf)

Businesses simply cannot buy their way out of dismal work or poor leadership as a core strategy and remain financially competitive.

Looks like this is a hot button for both of us - thanks a lot for your comment. Always a topic I'm happy to discuss!

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