The War for Talent
The war for talent was proposed by Mckinsey (1997) which eventually stated that fighting for a better talent is worth it because of the rise in the needs that is required for employees who are skilled at workplaces among the organisations.
Ever since the beginning of modernised employment it is seen that the organisations have been in the market to try to attract as well as retain the best possible applicants. The term war for talent is considered as a never-ending process which basically refers to attracting as well as retaining the talent that is available. It is not even challenging but also a hard as well as a complex process. In today’s modernised era war for talent is not only the outcome of skilled workers shortage but also it leads to employers looking to find the best skilled candidates.
The term war for talent becomes more important for strategies to sit together. In many aspects the recruitment and selection processes of an organisation is not only about finding the suitable candidate for the job, but it is about conveying a strong, positive image to attract other potential applicants to the organisation. There are considered to be two sources of recruitment such as internal (hiring someone from within an organisation) as well as external (hiring someone from outside an organisation). (Kramar, R., Bartram, T., De Cieri, H., ; Noe, R, 2017, p. 439).
The term HR recruitment is defined as any practice or activity carried on by the organisation with the primary purpose of identifying and attracting potential employees. (Kramar, R., Bartram, T., De Cieri, H., ; Noe, R, 2017, p. 432). When it comes to recruitment and selection there should be a selection criteria followed by the HR professionals such as applicant’s background, applicant’s experience, being employer of choice, making sure to treat everyone the same way which will eventually lead to prevention of potential conflict of interests.
Therefore, with the increasing insistence on hiring the right people, in respective right environment, and also within the right organisation it is becoming challenging to look for these individuals and especially in today’s ever changing environment. In an environment that keeps on changing every single day the war for talent is becoming more competitive. The employers who have not yet realised the potential to become more competitive are already far behind in this war for talent.
Therefore winning the war for talent for a particular employer is not that simple. When it comes to certain challenges faced by the HR professionals as well as the organisations the number one challenge is to attract the best suitable candidate. From an employer’s perspective it is now the role of HR professionals to showcase their organisational culture, and offer competitive packages such as monetary (remuneration) as well as non-monetary benefits such as flexible working hours, work from home, other benefits in order to attract as well as retain as war for talent is not only about attracting and recruiting.
It can be seen that recruiters are seen taking an advantage of discomfort arising from the benefit cuts, increase in workloads, organisations must take reasonable steps to make sure that their valuable as well as key people are feeling engaged, motivated all the times and don’t quit in search of better opportunities. Therefore war for talent is considered to be an ongoing process and winning firms and therefore winning firms are going to review as well as needs to be up to date by reviewing the quality as well as the skills available in their workplaces.
In Australia war for talent is a high stakes engagement. The talent management pendulum is switching across from recruitment to development. The war for talent is therefore shifting and is slowly becoming the war to develop talent in respective organisations. Therefore it can be seen that in Australian organisations unemployment still exists and employers are finding it really hard to cope to hire the right people. When it comes from the employer’s perspective it is seen that they are facing significant challenges in skills shortages. A huge percentage of companies for example hospitality, nursing and child care have all reported for shortages of key people. The key to attracting as well as retaining the brightest as well as the best is to offer credible career development.
In this stage of economic cycle staff retention is a major challenge from employer’s point of view.
The War for Talent