Build a Talent Bench that is Robust and Deep
The nature of today’s workplace and workforce is rapidly changing.
Technology is disrupting the way we do business and no business is – or will be – immune. Job descriptions are changing, and so are workers’ expectations about what they want from their jobs. Attracting and retaining talent is one of the biggest challenges facing employers.
To ensure a deep talent bench requires properly assessing your organization’s needs. Sounds simple, but consider that businesses no longer have the luxury of assuming employees are signing on for the long term. The jobs employees are doing today may not require the same skills five years from now and job security is not necessarily their top priority.
Four key actions companies should consider taking are:
1. Assess and Anticipate: What areas of your business are growing, maintaining or declining? Figure out what implications these have for your current employees and for future talent requirements. Make sure your employees are equipped with the skill sets to succeed in the workplace of tomorrow.
2. Think Outside the Box: Ensure the competencies of your current workforce are aligned with the company’s business needs. We are always looking for ways to source qualified candidates by casting a wider net – looking where we haven’t looked before and leveraging technology and the reach of social media.
3. Listen and Learn Together: It’s a two-way street. Younger employees have specific needs and they’re looking for a company that will help them fulfill their goals. Today’s workers want to know they have ample and varied development as well as career opportunities. Providing the opportunity to develop skills and continually learn are critical to retention. And, annual performance reviews have been replaced by more frequent and timely feedback. No one, especially young people, wants to wait a year to know how they’re doing.
4. Keep Evolving: As the world continues to change, so will the talent requirements. That will shape recruiting strategies and rewards. Some employees may not be as interested in aspiring for a “title” as they are in learning, enhancing their skills and contributing to the organization and their community. This presents opportunities for both the employer and employee.