How to win the War on Talent in 2022
By Satya Sharma (Co-founder & CHRO, TO THE NEW)
With the onset of the pandemic, people have adapted to the boom in online courses, advanced skills, and polished their resumes in a few months while staying abreast with the rapidly changing work environment. Every market sector was hit worldwide during this time, and work from home became the new norm. But now, the economy and job market are heating up, and people are finding new jobs in this dramatic comeback.
In light of increasing competition among industries to snag the best candidates, the war on talent shows no signs of dwindling. Although the hiring sector has bounced back, the hunt for quality, skilled candidates remains a top challenge.We discuss four standout areas employers can take significant action to win this war for talent with convenience and hassle-free manner in 2022.
Flexible work options
Job seekers specialize in a specific field instead of applying for mainstream jobs with various online courses and training at their disposal. Many of these candidates carry specific educational degrees, which might have made getting jobs difficult, especially in pre-covid times. But today, organizations keep an open mind during their hiring processes and give equal opportunities to candidates with unconventional skills. The flexibility of hiring goes beyond the applicant's skill set. It can also include part-time or temporary work options, flexible working hours, completely remote teams or hybrid options (both remote and in-office settings), work-from-anywhere arrangements, etc.
Prioritize employee experience
Job seekers expect a consumer-like experience and a human touch to nurture their journey. It is a motivating factor and fills in a sense of fulfillment at work. Supporting employees on their pursuit for personal growth in addition to professional opportunities can encourage them to thrive in their role successfully. The companies should note that employees not only want to work for the benefit of the company but also for themselves. A collaborative environment flourishes when an employee feels connected and is inspired.
Rewards and recognition
When an organization routinely recognizes and rewards their employees’ efforts, they will see increased responsibility, efficiency, and leadership drives from them. According to Deloitte, recognition boosts employee productivity, performance, and engagement by 14%, as compared to organizations that do not practice recognition. Recognizing and incentivizing at the workplace would increase the employees' morale and make them feel included in the organization’s functions.
Invest in professional training
Various companies are providing resources to their employees to enable them to learn a skill. Upskilling and reskilling should be normalized as it empowers them to improve their skill set and learn new methods to deliver quality results while keeping them engaged and satisfied with their growth within the company. Investing in an existing employee costs way less than conducting the entire hiring process for new hires with the desired skills.
The relationship between an employee and an employer is a give-and-take one. Every talent expects to be applauded for their participation in the growth of the organization. Especially in the current times where the workforce ecosystem is consistently evolving, employers must take measured steps to ensure that they grow with it and offer the best to their people. Amid this War for Talent, where every company wants to work with the best talent out there, these factors can help organizations take great strides in attracting and retaining their talent. These factors are necessary for the organization's continued growth and would eventually assist them in winning the talent war.
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