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How Do You Attract the Best Talent During Record Numbers of Job Vacancies?

How Do You Attract the Best Talent During Record Numbers of Job Vacancies?

The best workers do the best and the most work, so why do companies fail to attract them?

Attracting the best candidates in a market of over one million vacancies has highlighted the importance of having a winning talent attraction strategy in place, especially since high performing employees are scarce in the first place.

The War For Talent is a real battle for most organisations in the post Covid job market.

83% of Organisations Don’t Recruit and Retain High Performers

McKinsey found that 83% of organisations fail to attract and retain high performers so it is little wonder a looming skills crisis is gathering pace.

Focus On The Top 5% of Employees Who Deliver 95% of Value

People are a human resource and top talent resources are a source of competitive advantage. Indeed, evidence shows that just 5% of talent delivers 95% of value.

Focussing on attracting and retaining the top 5% is a challenge but is achievable if your Employee Value Proposition (EVP) resonates with the top candidate pool and your culture and people practices are optimised.

We have worked with clients to help them develop their EVPs and to design attraction strategies which:

  • Are distinctive – what makes your organisation unique?
  • Have an EVP which targets the top 5%
  • Are realistic and credible – rather than being publicity.

Designing a Solution

We recommend a methodical approach to EVP design based on benchmarked and researched approaches:

  • Assess the current state – What works and does not work in the current set up? What does the target 5% care about? Why do high performers leave the organisation? How do we keep top talent?
  • Design phase – This can include the design of career paths for different talent groups, attraction strategy design and the design of talent development and succession programmes as well as employee reward strategies.
  • Implement – Getting top leadership buy in is essential to the success of talent attraction programmes.
  • Review and benchmark to ensure the EVP works and attracts the right people.

Not Being Left Behind

Effective talent attraction is much more than just advertising for candidates, it’s about attracting and retaining the right talent who can add value to the organisation.

To find out how we can help your organisation compete for the top 5% simply click here to get in touch.

Matthew Davis

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