Month: July 2021

The War on Talent is evolving, and it isn’t getting any easier.

As we pass the midpoint of 2021 and the 4^th of July, I am reminded that warfare is as evolutionary as it is revolutionary.  The American’s successfully defeated the King’s Army in the 1700’s by switching up the strategy.  The English were masters in trench warfare and battle lines.  The American’s added surprise attacks and militias to win the Revolutionary War.

Today, the tactics in the War on Talent are also evolving and companies need to pay attention to not be caught off guard.  According to DDI, nearly 26% of leaders expect to leave their company in the next year.  Companies in the past used benefits, office locations, or work from home opportunities to attract high potential talent to their organizations.  These are now all expected, not a differentiator.  Companies promoted the stability of the company and the longevity of the workforce as key selling points.  These are now sometimes seen as warning signs for a stale company stuck in the past. 

What should companies do to attract high potential talent during this new competitive phase of the War on Talent?

• Keep High Potential Talent:  It is cheaper and easier to keep your best people, than to try to replace them.  Identify your top talent and ensure they have a seat at the table, impactful compensation, and ask them what can make their employment experience better.  Many are exhausted so help them find balance and let them know you respect their balance needs.
• Listen to your Candidates:  In today’s War on Talent, everyone has different needs and many are exhausted.  Manage your employment offers based on the individual by asking about their ideal work experience. Example, you may not need to offer high compensation if vacation time is more important.
• Create Fairness Based on Performance:  Companies are missing out on high potential and high performing talent because they are implementing policies to create fairness across ALL employees.  Instead create policies that reward performance with these benefits like work from home options, remote work options, more vacation days, and flexible work hours.
• Critical Role vs. Standard Role:  In a tight talent war, recruiting departments are overwhelmed, compensation budgets are strapped, and the candidate pools may be limited.  Prioritize your roles to maximize your time, effort, and resources knowing that you may have to pick your battles.
• Help your High Potentials to Succeed: Invest with executive coaching, leadership development programs, and senior leader mentors to help your high potentials gain the skills and perspectives needed to succeed and remain engaged!

The War on Talent is evolving.  Are you able to evolve and win?