Should I stay or should I go? Ten pillars of talent acquisition
As the war for talent gets increasingly fierce, will location and employee experience trump job role and salary? A new white paper by Aramark looks into the different considerations of attracting top talent
Acquiring top talent may seem like an easy ride for tech titans such as Google and Amazon located in the heart of the city, but now more and more companies are making it their number one strategic imperative to capture the best people – so the war for talent just got a little more interesting.
A new white paper produced by Aramark, Should I Stay or Should I Go?, investigates how companies are changing tactics to create environments in which people want to work. In six key areas, Aramark has explored the pillars of talent acquisition, the role of employee experience, the key cities attracting IT talent, additional perspectives which influence talent appeal, staying relevant in a time of constant flux, and the importance of gaining insight to apply maximum impact.
Ten pillars of talent acquisition
Talent attraction and retention is not as easy as paying a good salary, giving good benefits and expecting the best people to flock to your company. It is about long-term strategic efforts to seek out qualified people, nurture relationships, and persuade them to bring their unique skills to your company, according to the Society of Human Resource Management (SHRM).
The SHRM has developed ten key pillars of a talent acquisition strategy. This is about creating the right workplace experience. The pillars are:
Employer Brand – LinkedIn research found that more than 60 per cent of professionals across 26 countries ranked employer brand as the decider when applying for a job
Belonging – People are motivated to be part of something special, this could be a game-changing solution to the world or simply just a great quality service
Benefits and Incentives – Some of the most effective benefits are around work experience: greater work independence, development opportunities, healthcare, ease and cost of commuting, and bonuses
The Work Environment – A well-organised workplace with a lively atmosphere, plenty of comfortable space, and ample facilities where employees can collaborate and socialise
Financial Compensation – Stability and growth in future salary is a motivator
Working Smarter – Working for leaders who trust their employees plays a big role in retaining top talent
Great Relationships with leaders – Gaining recognition for hard work and contributions is a motivator to share new ideas and thinking; it can lead to faster growth of skills and performance and help create better connections with co-workers
Challenge and Excitement – People want to be engaged with challenging work which makes the most of their skills, but is also interesting and enjoyable to them
Career Development – Most employees don’t want to be stuck in dead-end jobs with no prospect of advancement; being engaged includes new challenges to overcome and new skills to learn in order to develop
Work-Life Balance – Companies that can demonstrate a commitment to work-life balance and encourage employees to socialise and make time for their personal lives will be more appealing to perspective employees
These pillars are not new, complicated or revolutionary, but they do set a precedent of how companies should be strategically working towards attracting talent in a competitive market. While salary and job role will always remain an important factor, pillars such as environment and experience cannot be ignored without having a detrimental effect.
Planning for incoming talent
Organisations need to plan to acquire not just existing talent but also emerging talent. As the millennial generation stride into the workplace, organisations now need to foster a greater sense of belonging and identity. Millennials thrive on collaboration, fun and purpose – incoming generations will pose new challenges to companies that want to fight for the best talent.