How to attract the best talent in 5 steps

Talent acquisition is an issue for many in Hong Kong. The slowdown in mainland China should make hiring easier in the short-term, but the combination of an aging population, increased competition, and a skills shortage will make it more difficult for leaders to find the right people in the long-term. To attract the best talent in the future, leaders must innovate.

The Big Idea – Start Small

Why are the best companies to work for, the best companies to work for? Leaders in these organizations
recognize a simple truth; to attract the best their companies must be recognized as the best companies to work for.
This starts by focusing on the little things that have a big impact.

Sure, rock climbing walls and pool tables in the conference room get all of the press, but it goes deeper. Leaders in the ‘best companies’ focus on caring about their people, constantly aligning the values and mission of the organization with reality, and ensuring that helping customers solve their problems is the purpose for everything they do.

This works even in industries that are not sexy, the number 4 employer in Fortune Magazine’s 100 Best Companies to Work For in 2012 was a supermarket chain. To attract talent create an environment where people want to come to work because the work they are doing is fulfilling. Unfortunately, many of the organizations in Hong Kong and elsewhere have lost sight of this. This is your opportunity; focus and passion are free, so start small and win big.

Have a Talent Acquisition Plan

Many organizations fill seats and hope for the best, but the emphasis on placement and not finding the best is
destructive. Get proactive, set a goal for what your talent acquisition model should be and have a plan to make it happen. Look at the best companies in your industry and beyond, tailoring key learnings to fit your situation.

Develop a profile for each position

Understand the characteristics for success and build the awareness of these characteristics into the hiring decision. This goes beyond personality assessment towards problem assessment; some organizations put candidates through simulations to gain a deeper knowledge of their strengths and opportunities before making a hiring decision.

Value Stream Thinking

Value Stream Thinking requires a deeper knowledge of how the value the organization creates flows to customers. By altering your perspective, you can recognize talent acquisition opportunities from all directions. More and more organizations understand the talent they rely on is just as likely to come from the inside as the outside.

For example, suppliers, contractors, even in-sourced talent solutions can address needs in creative ways. Value Stream Thinking, unlocks the chains of traditional organizational structures forcing teams to look across the extended enterprise for solutions. To paraphrase Tony Robbins, ‘it is not resource but resourcefulness.’

Beyond Compensation

Start thinking beyond compensation and toward fulfillment, while financial remuneration is important for many, it is not the only reason we work.

Begin to unlock what drives your team, give them opportunities to grow, challenge them to innovate and share the benefits of those innovations freely. Paying more than the market is not always the best solution to a talent acquisition crisis, so start thinking about new ways to reward engagement and innovation.

Embrace Innovation and be Recognized as the Best Company to Work for

It takes energy and passion to lead, but the payoff for organizations who embrace innovation is the recognition as the best company to work for in their industry. This recognition is contagious, infusing team members with a sense of belonging and customers with a deeper affinity for the brand.