The struggle to acquire and retain talent is real!
Organisations are being forced to reach down to the core of their being to curate Employer Value Propositions that keeps their employees engaged for the long haul.
The competition to attract exceptional talent in the market goes beyond offering substantial foreign exchange remuneration packages, hybrid/remote working options, stocks, shares, and other employee incentives, there’s a new sheriff in town and it calls itself technology.
While we know digital transformation has been at the root of economic growth and stability, however, it is also playing an integral role in how employees perceive their value in the workplace.
Over the years, we have evolved from manual processing to digital functionalities but it’s not enough just to have systems in place and software to support the manual labour, the growing need for seamless implementation at speed has heightened.
The scales have fallen off; employees have now realised that they do not have to rise with the sun and set with the moon to achieve their deliverables and receive that promotion; they now know it’s not about working hard but working smart.
What does this mean for the workforce? It means that employees are looking for environments that have the capacity to house advanced technology that makes their work easier while they focus on adopting tools that enhance their skills with the objective to be recession-proof and thrive in any environment.
This has become a deal breaker for candidates and employees seeking greener pastures; as technology is evolving, they are aware of their need to move along with it, by digitalising their skill set and differentiating them as a professional in a market where talented professionals are many and opportunities are few.
While technology is an extremely heavy investment, the biggest investment an organisation will ever make is the investment in their employees and their strategy to attract and retain talent
They know that this will not only enhance their expertise technically but create more opportunities for work-life balance, enhanced remote working, career advancement, productivity, and the capacity to stretch their niche in cross-functional markets that promote innovation.
What does this mean for organisations? It is not enough just to invest in systems for the sake of looking like a tech-savvy brand, they have to be strategic about the systems they implement and how their functionalities will improve operational efficiency company-wide.
This means looking at enterprise focused systems with additional features that are bespoke to your product or service. Some organisations have the luxury of building their own in-house systems and while that is great, there needs to be some sort of mirror or globally accepted framework that is transferable to systems or software that are already in the market.
While technology is an extremely heavy investment, the biggest investment an organisation will ever make is the investment in their employees and their strategy to attract and retain talent. People make business function, and while systems aid that process, if they feel they cannot thrive in that environment, they will look for opportunities where digital transformation supports their professional advancement.
So as an organisation who is operating in a lean structure or a robust infrastructure; review your resources and ask yourself is your business structured for the digital reference? Or for transformational productivity? The technology you embed into your organisation is also an integral part of your Employer Brand and its perception in the market.
After culture adoption, it is the next thing candidates consider then looking at a new position. They ask themselves in terms of responsibility and advancement. It ticks my boxes, but futuristically, am I advancing with the digital transformation of the economy? Will my skill set become extinct if I don’t nurture it with technology? And how does this organisation support that growth?
The talent ecosystem from attraction to exit is reliant on technology to survive. The strategies that are built to segregate and dominate the market are consumer-led. Consumers in talent acquisition are not just the talent they are trying to attract, but the employees they are trying to retain.
Oyelade is an EMEA talent acquisition and employability leader with an extensive career spanning across Europe, Middle East, North America, and sub-Saharan Africa.