There is a saying that you don’t build a business, you build people and then people build a business;
I don’t think any of us would disagree especially in our profession where people are our key asset. The tricky part is finding great people and keeping them.
With 63% of full-time employees looking for a job at any given time and 70% of Gen Y employees and 50% of Gen X workers planning to spend fewer than five years in their current roles, it really is a war for talent. And then there’s Gen Z where this figure drops to two years and the importance of having employer that speaks to their life ambitions and allows their entrepreneurial nature to thrive is paramount.
The importance of purpose has also risen up the agenda, key not only to engage candidates by differentiating employer brands but essential in retention and loyalty. PwC’s ‘Putting Purpose to Work’ report saw ‘meaning in day-to-day work’, ‘strong sense of community’ and ‘energised by knowing company impact’ as the top priorities for employees in the workplace.
We’ve also seen entry into the industry shift over recent years in terms of educational background, albeit slowly, with Apprenticeships growing as we strive to open up the talent pool and create diverse workforces which reflect the diverse audiences we are targeting. Forerunners in this are the likes of Golin with their ‘Uninternship’ programme aimed at reaching candidates from diverse backgrounds and opening up the talent pool.
So, what programmes and initiatives can you put in place to widen your talent pool and at the same time create an inclusive workplace to ensure retention? How do you make yourself the most attractive employment prospect on the market? And, how can you use your purpose and values to differentiate your brand?
The PRCA is holding a ‘War for Talent’ event at 09.30am on Wednesday, 6th June, in Bristol where you can hear first-hand from those facing this challenge head on and winning through; recruitment agencies who have the finger on the pulse of candidate need; organisations who specialise in helping you build brand purpose and the PRCA itself on setting up and running Apprenticeship schemes.
There is no doubt that there is more we can all do individually and collectively to support the industry in this ‘war’ and at the same time ensure we attract and nurture talent that will safeguard our future and theirs.