What is a Talent Attraction Strategy?
Talent attraction strategies are a hot topic right now, since demand for talent is higher than ever – and companies are reinventing their outreach to recruit and retain the right talent for their organisation.
Job seekers, passive or active, are motivated by various different factors and it’s up to businesses to understand their incentives to create an effective talent attraction strategy. This should not only entice candidates to apply but encourage them to actively engage in the recruitment process and if successful, become a long-term employee.
Salary, work environment and location are all different factors individuals generally consider when they are looking for a new role or are approached about a new opportunity. Could you use this information to create an efficient talent attraction strategy?
TALENT ATTRACTION STATISTICS
- 59% of candidates in the job market search for opportunities online – Indeed is the number one source of external hires for thousands of companies.
- 68% of the Labour force in the UK are actively searching or are open to a new job
- 65% of people worldwide search for new job opportunities within 91 days of being hired
DOES DIRECT SOURCING LEAD TO THE RIGHT FIT?
Recruiters might actively search for candidates who meet their requirements, however, from a recent survey conducted it has been found that candidates are increasingly confident in opportunities and roles they have found themselves.
76% are more successful when they have found their own role due to their own motivations and interest in working for the company.
SO WHAT IS THE SCIENCE OF TALENT ATTRACTION?
Maslow’s Hierarchy of Needs is often referred to as a motivational theory for existing employees, but what if we applied this to potential applicants?
If a business caters to the physiological needs through a pay rate which enables an individual to pay bills, provide food and shelter for their family, a job opportunity becomes a viable option for a candidate.
But what if we built upon this basic need? Most potential applicants are enticed by job opportunities which reflect clear career progression, as this demonstrates a level of job security.
As a candidate applying for a vacancy, it’s comforting to know that you are an investment for the company you are applying for and thus, if you perform well and business needs permit, there’s a chance you could be promoted.
Building a strong work-life balance is critical for many employees. Maslow’s third need is social – if successful in the recruitment process, will applicants be working at hours which are suitable for their personal commitments?
The next thing for applicants to consider is whether they would enjoy the role: does their past experience reflect the requirements for this job?
If so, will this opportunity give them the professional confidence to feel motivated and happy in their role but also, a platform for further development?
And finally, understanding the way in which your job vacancy can help potential candidates to achieve their hopes and ambitions is important when submitting an application form.
This has been reviewed to be the most important factor for consideration – particularly important and relevant for long-standing employees.
TALENT ATTRACTION – WHAT NEXT?
Understanding the five key elements of talent attraction is great – but how will you use this to create a complete attraction strategy to ensure you can reach, engage and retain talent for your organisation?
Are you thinking about attracting talent for your business? Click here to find out how Cohesion can help you.