The war for talent

The phrase „war for talent” was first used by Steven Hankin of McKinsey & Co. in 1997 – it alludes to the competition in the talent recruitment and retention field. The intensity of the war has not weakened, economic downturns, pandemics, sociocultural shifts, and labour market shifts have only made it more challenging. The intensity will only increase as technological developments occur, new generations appear on the field, skill requirements and the business environment changes. It is not enough to recruit, companies must attract, retain, and develop their people. For this, they need a well-founded strategy and the right tools to keep themselves in the fight.

Finding the right strategy is not simple – here are some tips to consider when searching for it.

1. The right mindset
   The right or wrong approach can affect the process itself. To make this a positive effect, we have to realise that we can’t control the war, but we can change our tools – the focus should be on what we are able to improve. We may not always win, but we can always shift our mindset and try again.
2. The right field
   We can recruit talent on multiple places – online, networks, campuses, talent boards, coffee shops. We should always pay attention to the changes and move along with them.
3. Valid and scientifically proven tools
   Using the right tools is fundamental as this is one of the things that have the biggest effect on the selection process and is within our control. Psychometric assessments, ability tests, competency questionnaires, personality questionnaires are key to maximize efficiency.
4. A seamless, engaging experience
   Flexibility, speed, scalability – these are some essential factors to provide the best candidate experience. The process should be accessible from any device and should make asynchronous engagement a possibility. As the company’s representative, you should make sure they receive a complete and thorough picture about your brand. To know more about creating the best candidate experience, read our blogpost.
5. Continuous integration of your people data
   We can collect plenty of information about the candidate’s personality, experiences, skills, motivations, and values by applying our tools. We recommend using SHL's easy-to-use reports which helps decision-making in selection and develeopment processes.

As talent war’s intensity grows, better recruitment strategy is needed. Businesses will change, talents will evolve, skills will come and go, but using the right tools will always be a must.

The original blog post is available here.