Attracting & Retaining Talent

Author: Sharon Schofield

Reading Time: 3 Minutes

The Situation

We know that organisations are struggling to attract and retain top talent. A problem compounded by the realisation that a lot of our younger workforce (Gen Z – born between 1997 and 2012) are not attracted by a traditional career, and want more balance in their life, compared to previous generations.

Considerations

Changing Workforce

By 2025 approximately 30% of the UK workforce will be comprised of Gen Z. While these young people are often criticised for not being committed to work, and to having tendencies towards radical social values, their progressive nature makes them great assets to any company that values innovation.

Why Is Culture Important?

When people are looking to join an organisation, it is now easier than ever to find out what a company is like to work for before committing.

Platforms such as Glass Door, LinkedIn or other social channels provide a way to seek out current employees and gain authentic individual feedback on the organisation. This has made it more important to understand and invest in a good company culture.

How To Attract Talent?

Attracting and retaining talent requires several key components, including:

  • Creating a strong employer brand

  • Offering competitive rewards and benefits

  • Providing career growth and development

  • Nurturing a positive work environment

  • Providing opportunities for work-life balance

Unsurprisingly, these components feature in every strong company culture.

Conclusions

Coaching Culture

Many senior leaders can become overwhelmed with where to start when changing or improving their organisational culture. The truth is they cannot do it alone – they need the support of the whole leadership team.

Developing a Coaching Culture can be the fastest way to transform an organisation because it fosters improvement in how employees interact with each other as well as customers.

It is the opposite of the traditional Command & Control leadership structure that many senior leaders were schooled in and continue to adopt.

The Leadership Challenge

The combination of senior leaders not adapting their leadership styles, thereby risking the creation of a toxic work culture, along with the growing importance of a positive work environment for the new generation entering the workforce, has significantly increased the pressure on organisations to attract and retain talent.

There is no magic bullet. It requires senior leaders and HR teams to do the work on themselves first, to create a Coaching Culture that works for everyone, and to lead by example.

“A good company culture is more important than ever.”

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