Recruitment trends show smart companies are 'plucking' top talent from competitors
In the coming year, finding, attracting and retaining top performers will become increasingly important and difficult to do, according to hiring consultancy IQ Partners.
In the fight for the best employees, companies will begin to plunder the competition and turn to head hunters. Beefed-up compensation packages and employee retention strategies will also play a role the battle for talent.
The following are six recruitment trends for 2006, as identified by IQ partners:
1. Scarcity of A-level candidates
Most of the high-caliber performers are gone. However, there are still a few A-level candidates out there, but they’re not actively looking for a new job and companies have to work harder to identify and attract them. Hiring managers are now using sophisticated tools to find the best candidates and are starting to pluck top performers from their competitors to build their teams.
2. Employee retention and engagement
Turnover is a necessary evil in the workplace, but as long as employees are engaged – meaning they’re attracted to, committed to, and fascinated with their work – they're less likely to leave. More companies will start developing formal employee retention and engagement strategies.
3. Headhunters are back
As the market tightens up, companies will use external headhunters to attract top talent. Headhunters have the time and expertise to engage in direct-contact recruiting and can advise on everything from employment branding to candidate quality. Many smart companies will begin developing strategic partnerships with professional headhunters to give them an advantage.
4. Show them the money
With a talent shortage looming on the horizon, companies will open the coffers to attract top talent. Money may not retain a top performer and isn’t always the motivating factor in accepting a new job, but it goes a long way to show good faith in a candidate’s value. As A-level candidates start entertaining multiple job offers, aggressive employers will start increasing salaries and adding signing bonuses to the compensation packages.
5. Hire for fit, train for skill
Companies will increasingly look for candidates who are a good fit with the company’s corporate culture and values. The best hires aren’t always the most qualified, but they must fit the company like a glove and have the potential to grow. Hiring new employees who don’t fit is the quickest way to undermine the retention of star employees who do.
6. Strategic human capital planning
With the demand for labour through to 2013 exceeding supply by 35 million jobs, smart companies are already thinking ahead and shoring up their ranks before the talent pool of top employees is completely dry. Best practices in strategic human capital planning include assessing and refreshing current resources, calculating employee ROI and engaging in “investment hiring” for the future.
In the fight for the best employees, companies will begin to plunder the competition and turn to head hunters. Beefed-up compensation packages and employee retention strategies will also play a role the battle for talent.
The following are six recruitment trends for 2006, as identified by IQ partners:
1. Scarcity of A-level candidates
Most of the high-caliber performers are gone. However, there are still a few A-level candidates out there, but they’re not actively looking for a new job and companies have to work harder to identify and attract them. Hiring managers are now using sophisticated tools to find the best candidates and are starting to pluck top performers from their competitors to build their teams.
2. Employee retention and engagement
Turnover is a necessary evil in the workplace, but as long as employees are engaged – meaning they’re attracted to, committed to, and fascinated with their work – they're less likely to leave. More companies will start developing formal employee retention and engagement strategies.
3. Headhunters are back
As the market tightens up, companies will use external headhunters to attract top talent. Headhunters have the time and expertise to engage in direct-contact recruiting and can advise on everything from employment branding to candidate quality. Many smart companies will begin developing strategic partnerships with professional headhunters to give them an advantage.
4. Show them the money
With a talent shortage looming on the horizon, companies will open the coffers to attract top talent. Money may not retain a top performer and isn’t always the motivating factor in accepting a new job, but it goes a long way to show good faith in a candidate’s value. As A-level candidates start entertaining multiple job offers, aggressive employers will start increasing salaries and adding signing bonuses to the compensation packages.
5. Hire for fit, train for skill
Companies will increasingly look for candidates who are a good fit with the company’s corporate culture and values. The best hires aren’t always the most qualified, but they must fit the company like a glove and have the potential to grow. Hiring new employees who don’t fit is the quickest way to undermine the retention of star employees who do.
6. Strategic human capital planning
With the demand for labour through to 2013 exceeding supply by 35 million jobs, smart companies are already thinking ahead and shoring up their ranks before the talent pool of top employees is completely dry. Best practices in strategic human capital planning include assessing and refreshing current resources, calculating employee ROI and engaging in “investment hiring” for the future.
