Companies will always be looking to attract, retain and develop the best talent.
If the first process is completed successfully, the next two should follow smoothly, with both the employee and employer benefiting in the long term. Talent has to be at the top of the HR agenda, as hiring exceptional candidates is still the end goal.
There is more to attracting the best talent than salary scales. The most important thing organizations can do is shift their hiring criteria and focus on potential rather than competency fit. Companies must be able to nurture the employees' ability to grow and adapt to fundamentally different and increasingly complex responsibilities. Organizations should be looking for people who can develop new knowledge and skills to suit constantly evolving circumstances.
Central to the success of talent retention is employee engagement, as a happy and fulfilled workforce will, in theory, be more productive. As part of this process, companies need to understand their own culture to see if it matches up with their mission statement, and if not make changes to have them realigned. Consider introducing a flexible working environment in an effort to offer staff a better work-life balance. You should also think about putting together a compelling benefits package that offers a range of features that will promote good mental and physical health.
HR departments need to be thinking about development from day one. For example, some companies put employees through ‘bootcamp’ in the hope that it fosters talent development. By investing in people from day one, they build a strong relationship and underpin professional development in everything that follows.