The challenge of hiring the right talent is more dynamic than it has ever been. The needs are high and the supply is low of great talent. People who had left the workforce for a variety of reasons are returning. The fastest growing age category of returnees is 70-years-old and higher.
According to Jeanne MacDonald, Korn Ferry Executive, the Top 10 Talent Trends of 2019 are:
- Accepting of resume gaps as increasingly explainable.
- Artificial Intelligence needs to be smarter to overcome prejudice in scanning resumes.
- Personalized pay that provides compensation to each person’s needs rather than the same for all.
- The annual performance review is losing favor for many employers and employees.
- There is renewed attention to the diversity and inclusion pipeline.
- The immediate customer satisfaction survey is being applied to recruiters to help improve success.
- Creative job titles are becoming more common and harder to understand.
- Talent analytics are becoming as important as business analytics.
- New job roles that didn’t exist until recently constitute a significant portion of new hires today.
Keep your talent
It is important to show your current talent that it is “greener on this side of the fence.”
One of the most significant ways to reward high talent is to help them develop their skills.
Providing experiences that expand their skills is important to new hires; and experiences are often valued more than compensation. This has always been true and it is even more important today.