How Can HR Overcome The Current Talent Crisis?
INTRODUCTION
Despite concerns about slowing economic activity, hiring remains strong as we enter the third quarter of 2022. A tight job market, increased job flexibility and greater awareness among candidates about their options for making meaningful career decisions have resulted in what some have characterized as “The Great Talent Migration.” Two-thirds of employees anticipate working for a new employer within six months, and 89% are interested in learning about a new job opportunity. As a result, HR leaders need to align strategies with realities in the post-pandemic talent marketplace.
On July 21, we conducted a roundtable with subject matter experts from Engage2Excel and members of the Trendicators Advisory Board to discuss today’s challenges and how HR leaders can overcome current challenges to attract, onboard, motivate and retain talent.
Trendicators is the research division of the E2E group of companies, leading providers of engaging career and consumer experiences. Trendicators provides original HR research, along with reports on insights and best practices from industry leaders and experts.
ATTRACT
Significant changes in how people view work have affected what employers need to do to attract top talent effectively. Today’s job candidates are more aware of their options when making career decisions. They want to feel valued, have a sense of belonging, see the potential for career growth and have the flexibility to balance their work and personal lives. Consider these ideas to improve your talent acquisition initiatives’ efficacy.
ONBOARD
In today’s job market, preboarding and onboarding are more critical than ever in setting up employees for success. Effectively designed programs welcome new employees before they start, acclimate them to their roles, educate them about what the company has to offer and engage them by making them feel like valued members of the team. Carefully planning each employee’s onboarding experience has become a crucial first step in the career experience journey and is vital for optimizing retention.
MOTIVATE AND RETAIN
Now more than ever, recognizing and appreciating employees’ contributions are critical in improving performance and maximizing retention. However, effective recognition today has become multidimensional, i.e., it needs to take place at all levels of the organization, including positive and constructive two-way feedback, and be integrated into all employees’ daily experiences. Facilitating connections and meaningful interactions with new hires helps imprint behaviors that foster a culture of appreciation.
