Attracting and Retaining Talent – What’s the Magic Formula?
In one of the last articles we’ve published, we talked about the importance and courage it takes to change assumptions and paradigms, in a process of self-renewal and transformation, not only at the individual level, but also at the level of organizations.
Today, we are witnessing the growing shortage of human resources and one of the biggest challenges for anyone who has a business. Not only because the work itself has been changing, but also because the pandemic scenario has accelerated practices such as flexibility and skills requalification. Attracting and retaining talent today requires new tools in view of the difficulties revealed by employers in hiring, since offering a competitive salary is no longer one of the most valued factors.
Emotions are responsible for everything that money cannot buy! The situations arouse positive emotions, well-being and promote personal satisfaction, which increasingly attract people.
Maintaining motivation, encouraging involvement, and achieving good employee performance is the goal of all companies, but how many are putting their efforts in finding ways to recognize and reward through actions, bringing out these positive emotions?
In this search for attracting and retaining talent, companies know that hiring the best employees is essential for the success of their business. The search for the best talent is leading to an increase in the average recruitment time. But recruiting without having a clear message about the reasons for joining a team or organization is exhausting, frustrating and a fruitless work.
So, how to do it in practice?
The good news is that there are some initiatives that can contribute to attracting and retaining new talent! Creating a strong employer brand and having a purpose is a good starting point.
More and more people are aligned by purpose: by their own individual purpose, but also by what their company’s purpose is. It is this alignment that needs to be built in practice! Factors such as ecological aspects, satisfaction, organizational happiness, feeling pleasure in serving, being able to have a healthy collaborative environment, and above all, being able to provide an excellent service to its customers. This is all that can make a difference when supply is greater than demand. Incentives such as flexible working hours and the focus on training and skills development, clearly identified as distinctive factors by workers, are now gaining increasing prominence and are becoming fundamental tools for companies to attract and retain the talent they need.
Every crisis always brings new opportunities, and this is an extraordinary opportunity for companies to redefine their talent and people strategies and build from scratch a model and a truly differentiating value proposition, with a strong purpose that creates and develops emotions capable of attract, serve, motivate, and retain people in a vibrant and passionate way.
ABC Sustainable Luxury Hospitality
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