The Future of Attracting and Retaining Top Talent

I am sure you are feeling it every day: Our marketplace is quickly changing. Our demands are ever-changing and technology is evolving even faster. And on top of that our talent landscape is also changing. I am specifically talking about the new generations entering the workforce.

How does this apply to you?

It applies to all of us: By 2020 75% of our workforce will be millennials.

Traditionally, we didn’t have any problems attracting passionate employees that are willing and eager to grow with a company, but times are changing. Technology and a lean organisation are becoming more important along with giving employees the room to experiment. Allowing them to bring in their ideas and be heard are crucial aspects to attracting and retaining top talent.

No surprise: Our organisational cultures are bound to change.

How can you prepare today for the changes that are coming tomorrow?

Here are four things to consider:
  1. Personal Development is more important than ever before. The next generation of leaders is looking to have not only a good work-life balance but to also experience career progression and personal development. They appreciate ongoing feedback paired with continuous leadership development. How often do you currently give feedback? What are some steps you can take to implement a continuous feedback loop?
  2. Technology – 41% of the millennial workforce prefer to communicate electronically and use advanced technology in the workplace. How can you also continue this development in your organisation?
  3. Diversity & Inclusion – Only 28% feel that there is real diversity & inclusion in the workplace. Reason for this is that emerging leaders grew up with the concept of diversity & inclusion. Traveling, eating international foods and having a myriad of friends all over the world on Facebook. Additionally, millennials are used to less steep hierarchies. Diversity & Inclusion to this generation means not only different cultures but also diverse backgrounds, ways of thinking, knowledge and the ability to bring all of this together. This enables the organisation to draw from a potpourri of ideas and input that can lead to creating a competitive advantage in the marketplace. How do you leverage the diversity of thought?
  4. Creativity – How much room are you giving your employees to be creative? For millennials, a big part of engagement is to be able to be creative. This empowers them to challenge the status quo and bring their ideas to the table. What are your opportunities to create a creative work environment for your employees?

Trying to fundamentally change some of the things we do, can seem overwhelming, and a lot of work. Especially in times where change is the only constant and competing priorities are our daily challenge. Using these strategies to prepare for the change in talent landscape allows us to understand and become clear about our organisational and leadership goals. Re-defining these areas is fundamental as we define our path to success in creating a highly engaged and diverse workforce.

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John de Giorgio

John is the founder of Shireburn Software, a software products company based in Malta and a number of other businesses. Entrepreneurial in nature, he looks at a business process and identifies ways in which process improvement and technology can be married in a practical way to provide value. He is passionate about helping communities and individuals through his work with Rotary International. He is a keen sailor and loves travelling, food and wine.