Take advantage of a mobile talent pool

In our global community, talented people are making more connections and career moves than ever before. Technology advancements are removing barriers to working across borders, and those with transferable skills can choose from multiple avenues of work. More than ever, people view their skills as a tradable asset, as their prime competitive advantage and the key to unlocking their future potential.

As such, most of the skilled population now see their world of work as a series of inputs, experiences and learning opportunities designed to maximise their ‘skills asset’, and boost their happiness in work and life. While most employers recognise the linear career path with one company is a thing of the past – are organisations ready to adapt to the world of work evolving in its place?

Our Randstad World of Work Report 2011/12 found that currently, less than half (48%) of employers rate their organisation’s ability to attract top talent as good, with only a handful (7%) rating their ability as excellent. Further, filling critical vacancies created by employee turnover or business expansion is employers’ biggest productivity concern in the year ahead – suggesting the ability to attract top talent will be vital.

So what can employers do to improve the situation? Ultimately, it’s about understanding what talented people value and what motivates their career choices. Only when employers have true insight into employee needs can they effectively evaluate, improve and promote the employee experience in their organisation.

Our research found that a quarter of employers believe uncompetitive salary and benefits is one of the main reasons they’re failing to attract top talent. Yet, the main reason two fifths of employees will leave their job over the next year is a lack of opportunity for growth and advancement. This demonstrates a promotion, a chance to take on more responsibility or participate in tailored career development, may be just as important as salary to those considering a career move in the year ahead.

When it comes to business managers, salary and the opportunity to work for a well-known and trusted organisation are the top two things that may persuade them to consider another job. Of those who intend to leave their current role within the next 12 months, 30% are prepared to consider another role if it provides the opportunity for growth and advancement, and one in five would move to earn more money.

This is not surprising, given managers surveyed are predominately members of Generation X, currently in the most finance-intensive period of their lives, juggling families and mortgages. Conversely Baby Boomers and Generation Y, who bookend this life phase, may be attracted to a broader mix of benefits. Despite this generational difference, having a strong relationship with a direct manager and being well-matched to a job are cited as key to attracting and retaining employees across all generations.

Almost half of all employers (46%) believe the single biggest reason they are able to attract top talent is the strong reputation of their organisation. Yet jobseekers may have slightly different priorities. This year’s Randstad World of Work Report indicates inspirational leadership (60%) and a strong workplace culture (57%) are considered slightly more important than a strong reputation (54%), when considering an employer. Sustainable social and environmental practices are also becoming more important to jobseekers, with nine in ten rating them as important or very important when considering an employer.

One area where employers and employees are aligned is the channels they use to connect, with both selecting online job boards, partnering with recruitment agencies, print advertising and headhunting/search as the top four. Of course, many employers in skills-short industries or those looking to fill senior or specialist roles, will be seeking to attract passive talent that may not be actively jobseeking. This will require building deeper relationships and connections with prospective employees, and developing a more complex and long-term search strategy to feed the talent pipeline.

Organisations have invested wisely in their employer brands in the last decade, but the time has come to foster a true culture of talent readiness. An organisation is talent ready when it continuously focuses on discovering and developing great talent, adapts to changing market environments, and swiftly secures the right people for the right jobs at the right time.

The world’s most coveted employers understand why people love working for them, and they continue to improve and promote those benefits, in much the same way any successful brand promotes the key selling points that set them apart. Employers who think about attracting great talent in the same way they think about attracting great customers, will be one step ahead in the new world of work.