In recruitment, the one thing that is constant, is the change in the balance of supply and demand for Talent across all sectors. This applies internally as well as to the markets we deliver into.
In her Talint International article, Anne Swain highlights ‘According to new research from APSCo and Broadbean Technology, the number of professionals in the UK applying for jobs in the financial services sector is down by a third year-on-year in January 2023, with the gap between supply and demand worsening.’
The Financial Services sector is not alone is this ‘gap between supply and demand’.
To better enable us to build our own business and teams, it’s essential that we plan and prepare.
Eleanor Roosevelt put it perfectly when she said, “It takes as much energy to wish as it does to plan.”
So don’t wish to be in a better position, take control and plan.
The 3 key steps in this planning and preparation are:
• Attract
Planning ahead provides the opportunity to recruit for less experienced and thus more available Talent with the ‘Attitude and Aptitude’ to be developed within a structured pipeline of Talent to fulfil more senior roles and responsibilities.
Basing recruitment on current and potential core competencies, within a clear and measurable strategy of delivery and development, provides innovative solutions with short- and long-term success.
This applies to our recommendations to our clients as part of our partnership with them as their Talent provider, as much as it does for ourselves as recruitment business owners, directors and managers.
• Develop
Implementing plans to develop Talent within a structured pipeline, requires the investment in internal and possibly external resources that are focussed on delivering to each individual within their tailored plan and program.
That doesn’t mean different training for each individual, but that the training is managed with the link to their drivers and agreed objectives.
• Retain
Where there is an agreed development plan in place, which details what support the business will provide and what the individual is required to achieve, there is clear communication and an increased ability to retain and develop your Talent.
The greater the desire to retain the individual, the higher the importance of having this agreed plan in place.
There is a fundamental need to invest in developing your current Talent as part of your plan for the future, but also as one of your KSP’s (Key Selling Point) as part of the statement on your business culture, that will better enable you to attract the best Talent available in your market.
As Eleanor said, it’s worth the energy.
How effective is your ‘pipeline’ for developing and retaining your Talent?
