As orignally posted on Linkedin Pulse.
Has your business hit an operational stumbling block, finding it difficult to meet demand and deliver top quality products or services efficiently? Not because the clients or the capital is lacking, but because there is a talent bottleneck in finding and retaining the right people for the job?
If so, you are not alone.
This was one of many messages recently shared by Hinge Marketing’s Lee Frederiksen, Managing Partner, Strategist, and Growth Expert at Hinge Marketing, on a recent Win-Win@Work Radio show. This live radio event is hosted by CEO Michael Cameron, HR leader, recruiter, and talent management advisor who, along with his co-host Kristi Baxter, interview subject matter experts with specialized knowledge in employee engagement, employee retention, workplace culture, talent management and talent acquisition. Below is a summary of that interview.
It’s a Common HR Dilemma: “The work is there; I just can’t find the right people.”
With unemployment rates at 5% (April 2016), it is no wonder there is a shortage of available workers across nearly all industries. And not all employees are talented. Finding a satisfied, productive worker who excels at their role may be like finding a needle in a haystack, a trite but accurate analogy. You may have a hundred shoemakers but only one who can work with your type of shoe. It is now the task du jour for talent acquisition teams to first find the right talent, and, perhaps even more challenging, is to convince individuals with the most talent to join their organization. The hire. Finally, it then becomes critical to retain that talent – at all costs – as talent often breeds talent. This is no small job for those companies who have not updated their talent acquisition models over time, and still rely on resumes, offshore recruiting models, and job boards. Enter the concept of the Talent Brand, a concept often discussed at WinWin@Work.
“Employment brand is critical with acute talent shortages, finding and retaining talent will be as important as finding new clients.”
Now listen carefully; this is a big one. One common complaint in the current business climate; sales people can sell the products, but the company cannot deliver them. Not because they do not have the vision, the strategy or the drive, but because they lack the talented individuals to make it happen. Acquiring the best and the brightest becomes paramount to succeed in highly competitive areas like software and technology.
So how do CEOs and HR leaders build an employer brand? Here are some ideas presented on the show:
- Be genuine with your message. “You cannot fake it; it has to be true,” says Lee.
- Understand the available talent. Don’t just look at skills on a resume, but look at the motivating factors of successful people and the culture in your primary business’s location. You will not find many sailing captains in the desert, or moose researchers in Florida – you can only hire talent if the talent is there. Figure out what will attract the particular type of talent you seek above and beyond the expected position perks like ‘good benefits’ – delivering perks is easy, it is finding those that motivate that is tough.
- Do your research. Learn your particular market climate by obtaining data and conducting an extensive analysis of the market you plan to/are working in. Understand where the markets are versus where you think they should be.
Through well-executed research, you can gain an understanding of how your business plays into the market and earn a competitive advantage over your competition, at any stage of your business’ growth. As a B2B marketing agency built for professional services, this is precisely the business that Hinge Marketing is fully engaged with.
“If you understand who your best client really is, you are in a much better position to retain them.”
Which ironically, also proves true of your employees. Not only does a company need to understand their clients, the market they serve, and their products, but must now understand what factors motivate, attract and retain employees if they wish to employ those with the most talent.
Information for this blog was gleaned from the Live Win-Win@Work radio show with guest Lee Fredrickson of Hinge Marketing and put together by Rich Collins, Win-Win@Work content contributor and owner of Thirst Productions. The actual recording of the show can be heard here. General ideas have been repurposed in blog format and may be embellished, interpreted, or enhanced for generating a summary of the show. Please listen to the show in it is entirely for full context, this posting is an overall interpretation of the ideas generated on the show. End of disclaimer, enjoy!