This is a thought leadership article by PrimeGlobal member firm Lutz which discusses how to connect talent to the right opportunity.
The labor market is fragmented so much that most of us tend to settle for what comes our way. Often, when talent meets opportunity, it is bliss for both the job seeker and the employer. The McKinsey Report shows that between 30-45% of the working-age population around the world are unemployed. Yet, 40% of US employers say that they cannot find talent apt for open opportunities.
Everyday people struggle to find jobs that match their skillsets. People want jobs that resonate with their cultural, financial and career goals. On the other hand, employers need talents that share the organization’s vision, mission and goals. Companies want people who can thrive in the existing culture while driving the company to the next level.
As millions of job seekers can’t connect to the right opportunities, employers too can’t fill open positions with the right talents. Optimum satisfaction in the labor market occurs when there is a perfect talent-opportunity match.
REASONS FOR TALENT-OPPORTUNITY MISMATCH
High employment turnover in companies can be linked to talent-opportunity mismatch. Some people join companies for the paycheck, and not for performance or career growth.
One perceived cause of the talent-skill mismatch is lack of proper education. As global shifts in economies and technologies hit new highs every year, innovative teaching methods remain unchanged. As such, forward-looking companies have established management trainee programs and career development projects to align talent to their organizational needs. Revamping workforce strategy by strengthening the existing hiring, training, and development processes are fundamental.
In addition, technological advances and employee expectations are re-shaping the labor market. From social media and online hiring platforms to generational shifts, these new challenges are consistently keeping employers and staffing firms on their toes.
Hiring agencies play a pivotal role in connecting talents to the right opportunity. These agencies have an extensive pool of candidates with different skill sets to help align the needs of the company and candidate faster.
FINDING THE RIGHT TALENT (AS AN EMPLOYER)
Let’s evaluate and see the extent to which the employer plays a part in creating an environment that attracts the right talent.
- In the initial stages of talent search, the employer must be fully conversant with the role in question. Why it exists, what part it plays in the bigger vision, where it leads to, its main challenges, salary and benefits, and most importantly, the responsibilities.
- Once this is laid out, it paves the way for creating the role’s job specification. You can use the job description to help you write this up. A well-prepared job specification will clearly define the ideal background of the potential candidate and the skills they must have.
- Considering that 60% of success is based on cultural fit, employers should emphasize hiring a person that fits the bill. Any issues such as personality, working environment, leadership style, and work-life balance should be brought to the table during the hiring process.
- Sometimes, panelists are subjective and impatient. If this is the case, they will quickly scan through the resumes, not caring how the interviewees at hand can best fit their team. As a result, we form teams that are unhappy and unyielding. It doesn’t have to be this way. Organizational heads can improve the hiring process by appointing passionate and skilled human resource experts. This will foster adherence to tried-and-true recruitment policies and procedures.
FINDING THE RIGHT COMPANY (AS A CANDIDATE)
For some job seekers, it is more of finding a job that can foot the bills rather than finding the right career. For people trying to find the right opportunities, consider the following:
- What do you want? Determine your goals; both short term and long term. Consider if the opportunity you are pursuing matches your aspirations.
- If you are changing a role or position, ask yourself what upsets you in your current role? Is this problem something that will be resolved with the change in jobs (if already employed)?
- What type of leader do you want? A transactional, transformative or dictatorial leader?
- What excites you in the role you are pursuing? What areas of the role do you enjoy the most?
- Does your skill set match the opportunity? For example, is there software you are not familiar with?
- Know the details of your preferred career. Consider things that could make you happy.
- What is your ideal salary? And what is the least amount you can take?
- Where do you want to be in the next five, ten, or 30 years in your career?
It is surprising how many candidates don’t know their ideal jobs. Some candidates sign up for jobs they know little about. Such job-seekers find it difficult progressing in their careers. It is crucial for talents to have career goals that enable them to identify market opportunities that match their skills.
Because of the chaotic nature of the labor market, recruitment processes are increasingly becoming overwhelming for employers. Correlation between employee satisfaction and ROI calls for job seekers and companies to device ways of connecting to the right opportunities.
Organizations are outsourcing hiring tasks to help connect to the right talents. Some are forming talent communities, while others are sticking to traditional hiring methods. Regardless of the method you choose, always place measures that ensure your corporation connect to the right people. For job seekers, consider the core questions addressed earlier, and you’ll find it easier connecting to your dream job.
Since our founding in 1980, Lutz has steadily grown because of our integrity, work ethic and collaboration to become the largest locally owned firm of its kind in Nebraska. Our clients' goals are our goals and we believe that understanding our clients is a vital part of getting to the bottom line and ensuring their success. We provide accounting services such as tax, assurance, business consulting and valuation. We also support our clients in the areas of investments and planning, recruiting and technology services.Learn more