Talent has greater leverage now than ever before in the war for talent. Every organization needs to ask the existential question: What can we do to win?
Companies have taken drastic steps to increase their incentives, perks, and compensation as part of their recruitment efforts to be more competitive with other hiring companies.
Some companies are trying to recruit and retain talent only from elite schools. A fair number of companies act as though they possess the resources and brand recognition of market leaders like Amazon, Apple and Netflix (FAANG). Every company doesn’t have the ability or brand power to provide the perks and compensation they need to attract the top talent.
It is time to rapidly evolve the elite school pedigree recruitment approach. The talent market is huge and we often go with the “traditional” approach to assessing and hiring talent. This is why these companies need to adopt the Inclusive Talent Strategy, or the ITS approach. Talent isn’t limited to one race, gender, ability, school or location. It can be found all over the world. We need to get rid of the myth that only the best talent exists.
A conversation I had years ago with someone who believed that only elite schools should be able to provide the highest concentration of talent in order for us to recruit. Contrary to his argument, I argued for an expanded talent pool. If you want to really target the talent market, it is essential to increase the field and not reduce it.
We are now in a highly competitive employment market, and our worker force is at its highest level in many years. Organizations need to embrace the ITS model.
Here are three methods to help ITS become a reality:
Simon Sinek stated in his book Starting With Why that “we trust someone who lives in the neighborhood and is more likely to share our values and beliefs than someone with a lengthy resume from an unknown place is better equipped to care for our most precious thing.”
Trust is the operative word.
If trust is more important than verified experience, then how do hiring managers make different decisions if there’s a mistrust? This is the inherent bias and the binary defect in hiring. Human nature is predisposed towards distrusting differences and will look for reasons to dismiss those with different experiences.
Any trust in anyone is inherently risky. That’s why there is more need for ITS. Because each talent hire is a gamble or a reward, there must be a willingness to take on strategic risk. After all, no one knows the future.
Talent is taking a risk when they accept an offer from a company that they haven’t heard of or that pays less competitively. Employers must recognize that talent-to-organization pairings are a two-way street. The sooner they do this, the faster we can expand our talent pipeline.
2. 2. New Spaces and More Faces
Talent strategies that go to the same places repeatedly with different expectations of getting different results are restrictive. You don’t want to see the same faces so go to the same spots. Expand the scope by visiting new places to discover new faces. To maximize the potential for talent, you should visit historically Black colleges or universities (HBCUs), Hispanic-serving colleges (HSIs), women’s colleges, boot camp, and other adjacent industries. Work with affinity groups that are focused on reaching previously excluded talent. To find the talent you are looking for, an ITS approach is required.
3. 3. The Evergreen Pipeline
To expand the opportunities for roles in which you are constantly in demand, invest in an always-increasing pipeline. A steady stream of talent is more efficient than a stop-and-go approach. You can save time and money by reaching out to more people via social media channels such as LinkedIn or Twitter lists.
Publited at Wed 21 July 2021, 05:18.30 +0000