We exist in a global economy. Companies are multinational. Talent comes from all corners of the world, and the workforce as we know it continues to become more diverse, dispersed, and global.
Driving forces such as increasingly open economies, the worldwide expansion of organizations, technological advancements and disruption, and the willingness of the modern workforce to “go to where the work is” has created a unique recruiting and hiring challenge for organizations. How do talent managers locate, recruit, hire and incent global executives?
Today’s global professional has unique traits, and they have specific expectations when exploring career options. They won’t work for just anyone and are not satisfied with the first offer that comes their way. Therefore, companies require an in-depth understanding of the global workforce if they want to compete, retain and attract new talent.
Organizations require a thoughtful roadmap and talent strategy. What worked in the past is no longer applicable, and it requires an internal review of how companies:
- Approach talent acquisition – from a cultural, diversity, and socio-economic perspective
- Compensate employees – salary, benefits, paid vacation
- View and approach organizational culture – How can you create a culture that empowers your workforce to succeed?
- Help employees grow and thrive – access to growth opportunities, flexibility, empowerment
Attracting and Retaining The Leaders Of Tomorrow
Talent acquisition has become much more personalized, and today it resembles a company-customer dynamic. It is about establishing a good relationship with talent and providing a great candidate experience as part of the acquisition process. The power is in the hands of the talent, and they know it.
Here are four tips to attract today’s talent and your company leaders of tomorrow:
- Understand what talent values: While today’s talent definitely prioritizes competitive salary and benefits, they are just as concerned about their long term career path. They want opportunities to grow and be promoted, they want a transparent work environment where they get regular feedback and performance ratings, and they want to work in a flexible environment. This is what they value and what they are looking for in hiring companies.
- Provide a clear career path: Top global professionals want to see the light at the end of the tunnel. They are not interested in staying with a company if they cannot see room for growth and a clear career path. If you don’t provide it, they will go elsewhere to make their next career move. Provide opportunities that are in alignment with people’s career goals, and communicate career possibilities. This is a key to not only attract, but retain great talent once they are in your organization.
- Champion diversity, equality, and transparency: Diversity and equal pay are key issues in today economy. If you want to attract the right people, cast a wider net, look for diverse talent, compensate fairly, and be upfront about what you are doing to create an even playing field for all.
- Be authentic: People want to work for companies that are real, companies that stand for something. Ensure that your company’s core values are tied into how you operate and reflect this not only within organizational culture, but also in how you approach recruiting.