With rapid developments in technology over recent years such as the rise of data science, AI and machine learning, there is a now an undeniable and growing skills gap in the market for 2019 and beyond. Companies the world over are facing increased demand for new and evolving skillsets and need to shape their talent acquisition strategies to tackle this.
In PwC’s 2018 Global CEO Survey, some of the ‘fixes’ discussed were: establishing a talent pipeline direct from education; significant retraining and upskilling; and hiring from outside. These may well have a part to play but cannot solve the escalating challenge in isolation.
It’s all in the culture
Culture is how an organisation operates, its belief systems, how managers deal with employees and employees with clients, and effectively influences how people work together. Often confused with employee engagement, company culture plays a vital role in attracting talent to the organisation especially in the case of the modern workforce, which is primarily made up of millennials and keeping it motivated.
Employee engagement on the other hand, will only happen when culture is open, communicative, transparent and collaborative.
Nowadays, an organisation’s mission, vision and values play a huge role in determining who wants to work for them and sets the tone for the workforce. To bring on the right people for the job, purpose must be articulated and backed by actions. Inspired employees driven by purpose and connection to the brand will deliver on the company’s brand promise to the clients.
The power of HR
In my experience, having a dedicated HR team to support new company talent initiatives gives organisations a significant advantage. They can support the long term business plan by creating a roadmap of talent needs and flag potential challenges early in the recruitment process.
The business can then put appropriate strategies into place to either upskill current talent or attract new staff from more innovative sources. With the involvement of a dynamic HR team, employees can be developed through robust performance management and training, and retained with benefits, learning opportunities and engagement initiatives.
To create a productive, engaged workplace culture, companies need to recruit, hire and retain top talent. At the same time, the only way to truly attract the top talent is to demonstrate to them a brilliant working culture. Squaring this particular circle for organisations is where HR professionals can add real value to the bottom line.
Veera Marshall, Strategic HR Partner