115, pp. All rights reserved. Fred, M.O. Drake International. Attracting and Retaining Talent: Exploring Human Resources Development Trends in Australia ABSTRACT Australia has recorded unparalleled economic expansion for more than a decade. 2 No. (PDF) Attracting Talented Employees to the Company: Do We Need 1-6. The last year has forever changed the way employees view and approach work, but one thing holds true: Businesses that want to attract and. PDF Attracting and retaining talented employees during turbulent times The model in Figure 1 indicates that, for an organisation to hire talent to fill a gap, the first thing to do is to strategically formulate recruitment objectives. (2009), Justifications for qualitative research in organisations: a step forward, The Journal of Online Education, pp. (2017), Online recruitment: feasibility, cost, and representativeness in a study of postpartum women, Journal of Medical Internet Research, Vol. However, we reached out to 200 people to accommodate for no response or invalid responses and to have a more robust in-depth. (1996), The key informant technique, Family Practice, Vol. 148-176. Moen, B.E., Nyarubeli, I.P., Tungu, A.M., Ngowi, A.V., Kumie, A., Deressa, W. and Mamuya, S.H.D. 2. 3, pp. To address this question, we review relevant evidence that explains the importance of workplace rewards and recognition. 14-22. For those businesses, embracing a four-day workweek could help attract and retain talent. and Nosa, A.L. Greater focus on improving the employee experience is most likely to become permanent (78%). % 3, pp. 6, pp. Attracting and recruiting quality talent: firm perspectives World Population Review (2020), available at: https://worldpopulationreview.com/world-cities/lagospopulation. 18 No. The last year has forever changed theway employees view and approach work, but one thing holds true: Businesses that want to attract and retain the talent they need to move forward must understand the top priorities of their future workforce. HRM, technology and innovation: new HRM competences for old business challenges? (2002), Recruitment evaluation: the case for assessing the quality of applicants attracted, Personnel Psychology, Vol. They are also experiencing challenges attracting hourly workers (61%). 116-122. How Can Companies Attract And Retain Talent Post-Covid? 4, pp. and Irabor, I.E. In a constantly changing competitive environment, they are vital to LVMH's success. 23 No. Barney, J.B. (2001), Resource-based theories of competitive advantage: a ten-year retrospective on the resource-based view, Journal of Management, Vol. In addition, video teleconference can be adopted; there should be eradication of age restrictions on vacancies. Some of the recruitment sources, their benefits and challenges are demonstrated in Table 1. Social exchange theory has gained much interest in the literature and has been applied in understanding workplace behaviour (Cropanzano and Mitchell, 2005), such as psychological contracts (Rousseau, 1995) and networks (Brass et al., 2004). 6, pp. 2 No. Conduct thorough market research to ensure your salaries align with industry standards. b`APk>hi,0 { [ (2018), Effects of e-recruitment and internet on recruitment process: an empirical study on multinational companies of Bangladesh, International Journal of Scientific Research and Management ( Management), Vol. Talent development: Attracting, retaining the highly skilled | Deloitte Marsh, R.R. Copyright 2023 WTW. The August 2021 North America Talent Attraction and Retention Survey examines the reasons why employers are experiencing challenges in attracting and retaining employees, where these struggles are most prevalent, and the steps employers are taking to win and keep talent in a highly competitive environment. They might, for instance, dip into untapped pools of talent such as the home force and bring back parents whove put their careers on hold to care for children, or people who left jobs to tend to aging relatives. (2019), Skilled immigration to fill talent gaps: a comparison of the immigration policies of the United States, Canada, and Australia, Journal of International Business Policy, Vol. Job selection contains a high level of risk, which motivates potential job candidates to invest their . 107-120. https://doi.org/10.1108/RAMJ-05-2020-0016. 11, pp. With an average graduate churn out of 600,000 by tertiary institutions in Nigeria and the graduate unemployment put at 25.4m or 38.1% (NBS, 2019, Q2), it looks like sourcing for employees should be easy. (1961), Social Behavior: Its Elementary Forms, Harcourt Brace, New York, NY. (2013), Corporate social responsibility as a recruitment strategy by organisations, International Review of Management and Business Research, Vol. Also more investment by firm management in technology tools such as artificial intelligence and digitalisation should be embraced at work place. Landers, R.N. (2005), Personnel and Human Resources Management, 5th ed., Thompson Learning, London. The last year has forever changed theway employees view and approach work, but one thing holds true: Businesses that want to attract and retain the talent they need to move forward must understand the top priorities of their future workforce. 9 No. 1-35. Cascio, W.F. This paper aims to explore the drivers of attracting and recruiting quality talents. can we use standardized strategies to attract potential employees all around the world, or shall we customize our employer brand according to the cultural differences between the . As we head into the warmer months, it's important to keep in mind employees may have other things going on, like a social outing with friends or taking a family vacation. +Am@*- \Z]vP `=TP 1"U O,9Y:Z$Hv/A,GIs$TFOC% T` ` 1# czEP=KL%M0 In developed countries, there are generally openly known industry and role compensation packages (Adom, 2018; Clemens et al., 2017). Employers have also instituted greater workplace flexibility (61%) and increased their geographic area of recruitment (58%), along with a greater emphasis on improving the employee experience (53%), in order to attract employees. 48-60.[Mismatch]. (2015), The impact of reputation and identity congruence on employer brand attractiveness, Marketing Intelligence and Planning, Vol. Dabirian, A., Kietzmann, J. and Diba, H. (2017), A great place to work!Understanding crowdsourced employer branding, Business Horizons, Vol. PDF How to Attract and Retain Great Employees - melbabenson.com HR directors believe that ensuring that an organization has the latest collaborative technology in place to enable agile learning is the most important factor in recruiting and retaining the best talent, and 88% of employees confirm this notion, saying that they look for this when searching for a new position. (2019), Growth-youth unemployment nexus in upper middle income countries in Sub-Saharan Africa, Turkish Economic Review, Vol. Denscombe, M. (2008), Communities of practice: a research paradigm for the mixed methods approach, Journal of Mixed Methods Research, Vol. . In order to future-proof their jobs, employees must continually develop their skills and knowledge. How to Build a Great Team: 4 Tips for Employee Engagement and Retention Last year, only 15% of employers reported having difficulty retaining employees. Ffll u\-c{EPhqAL[UV6J{"Rmv1?>LE#E|V :o'`j2EHw'4wIh.*Zpl 1}"% ?eQA>r5BfH`QyW/vwrj;5YI 2 No. Data, methods and descriptive analysis 5. 83% of employees think that workers will be more likely to move out of cities and other urban locations if they can work remotely for a majority of the time, creating new work hubs in rural areas. Employers are most likely to have challenges attracting employees with digital skills (78%), although these positions were also hard to fill prior to the pandemic. 22-23. As a business owner or leader, one of the most powerful things you can do to attract and retain talented employees is to hire people who have the skills and experience you need and the same values. While attracting top talent is often about financial upside (immediate or potential), retaining startup talent is often about intrinsic motivating factors, such as . This article is published under the Creative Commons Attribution (CC BY 4.0) license. Support and challenge your direct reports to help them reach their potential. 179-215. 313-319. Some of these exceptional talents too already are engaged in freelancing and private practice (Perampalam et al., 2017; Schwartz, 2018), some calibers of professionals are social media savvy; others are no, and not be easily visible for opportunities. Furthermore, recruiting quality talent enhances productivity and performance which every firm strives to achieve (Cascio, 2014; Maheshwari et al., 2017). We are motivated to use this research method because of its potential to confirm research findings through triangulation, gather richer data, and to initiate new modes of thinking (Rossman and Wilson, 1985; Denscombe, 2008). retaining talent, developing the talent you have, managing performance, creating. 59-68. Firms which are unable to attract the best talents have issues with productivity and output. Among the respondents, there are divergent opinions about job title as a core factor in attracting and recruiting quality talents, for instance, 36% agreed, 41% disagreed, while 22% are uncertain of the importance of job title as a factor to leverage on in attracting and recruiting quality talents. and OHIANI, A.S. (2020), "Attracting and recruiting quality talent: firm perspectives", Rajagiri Management Journal, Vol. Employers report that higher wage expectations are affecting the ability to attract and retain employees in all positions. 32-43. To increase both attraction and retention, Almost 3x4x as many the most commonly cited action 70% of as many organizationsorganizations are are having diculty having diculty employers have taken is a broader focus attracting employeesretaining employeeson diversity, equity and inclusion. Why is talent important? 1-6. We conducted the primary survey within the first quarter of 2020, administering 200 questionnaires in a five-point Likert scale form to human resource managers who advise the organisations management on people matters including recruitment and attraction of new employees; representatives of employers of labour from the organised private sector and government agencies based in Lagos. Overall, firms have high expectations from candidates seeking to fill vacant positions at various points in time. The authors acknowledge everyone who have and will still contribute to the great success of this research work. (2016), Social media in employee selection and recruitment: an overview, in Landers, R.N. (1994), HRM practices in large and small manufacturing firms: a comparative study, Journal of Small Business Management, Vol. Techniques such as the use of social media, traditional media, online interview, physical interview have proven to help in selecting quality talents. The internet provides an avenue for online aptitude test and assessment which is becoming more popular and widely acceptable in the selection and requirement of quality talents (Randall, 2016; Ujah-Ogbuagu, 2019). W9w R/6E]/#q0pmN% X0JC9=/j8n;x`?#O {,mQn;e71. HFO6$8SWy_:M n8e*@}k7I4NsoqLM #mD9|xr @y%X(6160KJ;=o/5D6e;H L'7@@|E,t*_tp@9>y/6d Understanding matching patterns and determinants of attracting quality talents is an under researched area especially from the firm perspective (Ghavidel et al., 2019). Petre, A., Osoian, C. and Zaharie, M. (2016), Applicants' perceptions on online recruitment, Managerial Challenges of the Contemporary Society. Network theory is proposed by Johanson and Mattsson (1988) in with the postulation that every business venture makes use of available networks to acquire resources both human and material to achieve its goals and objectives. Employee Onboarding: Attracting and Retaining Talent. Our findings make clear that to be best positioned to win and keep the talent they need for sustained success, organizations need to understand the range of strategies available to them across the entire employee experience. The most prevalent action already taken by 70% of employers is placing a broader emphasis on diversity, equity and inclusion. and Sharma, S. (2014), Employer branding: strategy for improving workplace attractiveness, International Journal of Organizational Analysis, Vol. Lagos has about 6,000 registered firms cutting across various industries (Nigeria Companies Directory (NCD), 2020). According to Kaplan and Haenlein (2010), social media is an internet-based platform that allows users to generate and exchange ideas, contents and values. About this book. Published in Rajagiri Management Journal. Overall, firms outline benefit attached to a vacant position when seeking qualified candidates. Without the restriction of location, business leaders must look at their recruiting from a broader lens and expand the potential to attract employees who can boost an organizations creativity and productivity. What should the major takeaways be for business leaders when it comes to the implications of these findings? Recruiters believe that the social media platform is a good technique to attract suitable candidates. To what extent do firms use wages and other benefits to improve their hiring process? (1988), Internationalisation in industrial systems-a network approach, in Hood, N. and Vahlne, J-E. (Eds), Strategies in Global Competition, Croom Helm, pp. 1421-1443. and Ogbonna, I.G. In attracting quality talents, firms leverage on some certain factors, among such factor is salary, brand name, flexible working conditions among other. PDF Winning the War for Talent: Modern Motivational Methods cross-training, and assigning employees projects and responsibilities that cause them to stretch. 1. The impact of digitisation is evident on the recruitment process of the firms; most of them took advantage of technology to drive their selection, training and placement processes. Legacy enterprise technology is making it difficult for retail banks to offer the digital experiences that customers are increasingly looking for. It was found out in this study that firms can leverage on salary, brand name, referral, job security as core factors in attracting and recruiting quality talents. 7 No. In doing so, they will not only boost the motivation and engagement of their existing workers, but will gain the attention of the brightest new recruits and take their business to new heights. (Eds), Social Media in Employee Selection and Recruitment: Theory, Practice, and Current Challenges, Springer, London, pp. 3, p. e61. What does this mean? 426-455. 1, pp. 2, pp. Apply key course concepts to real-world organizational examples COURSE MATERIALS Required Textbook: Phillips, J. M. (2020). But there is a gap here, with just 69% of HR directors saying that their company currently operates in this way, and only half of HR directors saying that their organization would be more productive as a whole if employees felt that their employer/senior management team trusted them to get the job done without monitoring their progress. Nearly three in four employers (73%) are currently having difficulty attracting employees. Juliana, M.I. 21-36. Recruitment has a long history, most likely to pre-historic times because people tend to consume the services of others to achieve what they cannot singlehandedly accomplish (Adetunji and Ogbonna, 2013). PP. 2, pp. 207-215. Kireru, C. (2019), Role of integrated talent management processes in competitive advantage of telecommunication firms in Nairobi city county, Kenya, Doctoral dissertation, JKUAT COHRED. Here are just a few examples for inspiration: Nike: To bring innovation and inspiration to every athlete in the worldif you have a body then you're an athlete. In some fields, such as nursing, three 12-hour shifts per week already is relatively standard, Oates said. Demand side management in Nigeria, Internationalisation in industrial systems-a network approach, Assessment of the contribution of value added tax to the Nigerian economy, International Journal of Social Sciences and Management Research, Users of the world, unite! 9 No. (2016), Employer image and employer branding: what we know and what we need to know, Annual Review of Organizational Psychology and Organizational Behavior Contents, Vol. endobj Four ways to help employees cope, How employers are supporting employee resilience amid the pandemic, Pandemic and remote work challenges underscore importance of employee wellbeing, Benefits Administration and Outsourcing Solutions, Executive Compensation and Board Advisory, Financial, Executive and Professional Risks (FINEX). In that survey, 66 percent of workers ages 18-24 ranked learning new skills as the third-most important perk when evaluating new job opportunities, behind only health insurance and disability . 5, pp. Okolie, U.C. Bouton, K. (2015), Recruiting for cultural fit, Harvard Business Review, available at: https://hbr.org/2015/07/recruiting-for-cultural-fit. The network theory is useful in this study to address the issue of how firms in Lagos relate and network with the business environment to make use of the available recruiting channels through social networking for them to source and recruit quality talents. The Role of Talent Management Comparing Medium-Sized and Large Along with a universal recognition that resilient employees are the true lifeblood of a company came an understanding that a companys workforce is crucial to business recovery. (2018), Global migration of talent: drain, gain, and transnational impacts, International Scholarships in Higher Education, Palgrave Macmillan, Cham, pp. 23-36. This could be carried out by seeking inputs from those that have vital information about the skills required and the particular unit that is in need of such talent. Are recruited talents productive and capable of improving performance? Bondarouk, T., Marsman, E. and Rekers, M. (2014), HRM, technology and innovation: new HRM competences for old business challenges?, Human Resource Management, Social Innovation and Technology Advanced Series in Management, Vol. 67 No. And they expect to be given the space and trust they need to do their very best work, wherever they happen to be. On the other hand, the exceptional graduates who are few are conscious of their worth and value and hence highly mobile (Lievens and Slaughter, 2016; Hu, 2017; Okolie and Irabor, 2017). When the study was commissioned, both groups of professionals were working under permanent contracts and were currently or had recently been working from home as a result of Covid-19 restrictions. Lagos accounts for 80% of the value-added growth in Nigeria's manufacturing sector and generates 65% of Nigeria's value added tax (VAT) (Central Bank of Nigeria 2017). Landers and Schmidt (2016) opine that social network sites contain three major features such as allow users to generate a public personal profile; specify a list of connections with others using sites like Facebook, Twitter and LinkedIn; and observe and explore content from within and connections of others to achieve a purpose. Also, the role of policies including the national labour laws, industry norms and localised firm policies have on hiring practices and drivers in a developing country. Ihensekhien, O.A. Nearly three in four employers (73% . Acquiring and retaining superior talent through appropriate recruitment process is critical to firms image (Oginni and Ogunyomi, 2012; Bouton, 2015). 84-92. 5, pp. Employees want to determine when and where they work. The competition for exceptional talent is fierce, and they typically not always on the lookout for job opportunities at least actively (Mahony, 2019; Kireru, 2019). 14, pp. In carrying out this study, firms in the private sector form the majority, constituting 79% of the sample; this is because private firms carry out recruitment processes more when compared to the private sector. However, some respondents are of the opinion that there are some certain positions that cannot be managed by a person of lower age or gender. Companies that understand and embrace these wants and needs will not only boost the motivation and engagement of their existing workers, but will gain the attention of the brightest new recruits and take their business to new heights. PDF Employers expect challenges in attracting and retaining talent to (2017), Exploring HR practitioners perspective on employer branding and its role in organizational attractiveness and talent management, International Journal of Organizational Analysis, Vol. 3 Why Turnover Matters 5 Why Employees Leave 9 Why Employees Stay 10 How to Develop Your. They must embrace new, flexible work models and cultivate a workforce that can design their own careers. Employer challenges in attracting and retaining talent are expected to continue through 2022. Clients depend on us for specialized industry expertise. Attracting Talent During a Worker Shortage - Harvard Business Review 1, pp. Empathy and understanding are fundamental principles of user-centered design. The number of available talents is approximately 9 million youths as at 2020 (World Population Review, 2020). In response, many are taking action to improve the entire employee experience (EX). The past year has accelerated digital transformation across sectors. 2 No. 9 No. 1-5. However, Figure 1 demonstrates a recruitment process as proposed by Breaugh (2009). What Your Future Employees Want Most - Harvard Business Review Ujah-Ogbuagu, B.C. : 9>Vs} z\)/rlwA zM. The most important way to demonstrate culture for companies is to be where the emerging talent is, in an increasingly dispersed and digital landscape. In face of ever improving technology, online interviews and assessment are been embraced by recruiters and found to be a good technique to attract quality talent, physical assessment of talents have also proven to be a good technique in attracting quality talents. Demand side management in Nigeria, Energy Policy, Vol. 1, pp. The four areas below are a good place to start: Research findings are based on responses from 380 employers representing 7.4 million workers. Abraham, I.O. Yamane, T. (1967), Statistics: An Introductory Analysis, 2nd ed., Harper and Row, New York, NY. Son, M., Lee, H. and Chang, H. (2019), Artificial intelligence-based business communication: application for recruitment and selection, Business Communication Research and Practice, Vol. 1) Start by asking more questions to gain insights on employees. PDF Employee Retention Strategies That Work - LinkedIn Business