Organization and Talent:

An organization is never a standalone entity. It's an amalgamation of multiple pillars coming together to raise a strong, attractive structure where its members thrive, skills expand, and outputs multiply, contributing to the organization, its members, and society. One foundational pillar is Talent, the members an organization employs.

An organization's talent decides its expansion into the realm of success and trust in the industry. The more competitive the talent of a company is, the more attractive an organization becomes, ushering in more opportunities for its growth and expansion. Hence, finding and employing top talent boosts the organization's image and strengthens its presence in the competitive job market. 

5 Strategies to Attract Top Talent in a competitive job market:

1. Building a strong brand:

• Brand presence is the perception an organization's present and past employees have about the organization. This establishes a bigger picture of an organization among the talent community.
• Having a strong and reliable brand presence in the market organically drives the talent community to be an essential part of your organization.
• Showcase your employee and work culture, highlight unique propositions, nurture a healthy work ethic, mandate transparency, and promptness, and foster inclusion and friendliness.
• Provide genuine glimpses into your workspace to build excitement and encourage reviews to build enthusiasm and excitement amongst the talent community. 

2. Offering competitive prospects & benefits: 

• One of the most important aspects that can make or break an organization is its employee retention, which is the loyalty of its members.
• Prospects contributing positively to employee pay hikes, growth, development, well-being, flexible work arrangements, relocation aid, retirement plans, health insurance, and other benefits make you stand out and more attractive to candidates.
• These benefits and offerings also increase employee loyalty, so the organization lowers its talent drain.
• Higher employee retention rates speak a lot about an organization's value among its employees. The higher the rates, the more attractive the prospect. 

3. Create a better candidate experience:

• Candidate experience is the silver lining of every strategic move because, in the end, the experience an organization provides its employees is the deciding factor of talent retention.
• This aspect is fully in an organization's circle of influence. You can create a better candidate experience through efforts in areas such as recruitment and onboarding processes, work assistance, and training. 
• Reinforce faster grievance redressal, flexibility, learning and development, constructive feedback, and more. 
• Starting from receiving the application till onboarding, streamline the process and provide constructive feedback so the candidates have a positive light of the organization even if unselected. 

4. Employee Learning and Development:

• One of the most important hindrances an organization suffers from is the redundancy of its employee's skills and growth.
• This can impact employee retention, too, because the top talent is ambitious for consistent growth and development of their skills and experience.
• In case an employee's growth seems constricted, it creates a void, making them look for better prospects that focus on their learning and development.
• You can avoid this by investing in employee learning and development through recurring training, seminars, mandatory L&D sessions, frequent performance evaluation, and feedback. 

5. Technology to Advantage:

• The current era is more technologically advanced than its predecessor. That makes it viable for more technological advantage.
• Leverage technology such as ATS for recruitment, software development for onboarding and training, online learning for employee L&D, flexible work, performance tracking, feedback provision, etc., to make the experience more seamless.
• Enter into the world of digital media, such as social media and hiring platforms, to reach out to a wide pool of talented candidates.
• By embracing technology, you demonstrate your organization's adaptability and competence in leveraging appropriate trends and best practices of time. 

Importance of Having Attractive Talent in an Organization:

Competitive Edge:

Employing an attractive pool of talent gives an extra edge to the organization's capability and competence in a highly competitive and globalized business environment.

Having skilled and motivated employees who can have an eye for trends, adaptability, and drive innovation puts you one step ahead of your competitors. 

Innovation & Problem – Solving:

The candidates in the top talent community have a diversified skill set with a competitive knack and impressive potential. Their ambitious goals and intellect foster out-of-the-box thinking, driving change and innovation.

Such individuals have upbeat skills of mind and excellent problem-solving skills with comprehensive and effective strategies to handle challenges and usher in new opportunities. 

Positive Work Culture:

The top talented pool of candidates comes with not just excellent skills but with higher levels of aptitude, reasoning, and character. They are the torch-bearers of innovation and modern thought processes, contributing to creating a positive workplace.

Their commitment, enthusiasm, zeal, ambitiousness, and inclusion inspire their colleagues to build an inclusive and motivated work environment.

This drives collaboration, effective thought exchange, reliability, better teamwork, desired outcomes, and overall job satisfaction among the employees. 

Employee Retention:

Higher employee retention rates are indicators of a positive work environment. This is a crucial criterion to gauge the effectiveness of an organization's Human Resources practices.

According to a study by Better Buys, employees who receive development opportunities are 15% more engaged and have 34% higher retention than those otherwise.

Employee development and engagement is a way of letting employees know they have a future in the organization and that their presence is valued. That way, employees are more likely to stay in the organization. 

Leadership Advantage:

Candidates with attractive skills and talents often have strong leadership skills and potential. This will create strong leadership in the organization, driving it towards better opportunities, better management, performance, outcomes, and success.

Strong and reliable leadership is crucial for sustaining organizational values and driving engagement toward the vision through strategic direction and guidance. 

Enhanced Reputation:

Employees are the face of an organization. The presence of top and attractive talent in an organization highlights the organization's commitment to only the best.

A strong brand presence of an employer presents the best picture in the market, attracting top talent to its doorstep and helping in retention.

This develops a positive reputation, attracting lucrative offers in terms of investments, business partnerships, collaborations, and other stakeholders.  

Conclusion:

Attractive talent is the cornerstone of an organization's growth. The ambition, skillset, aptitude, commitment, thought process, capability, inclusion, sincerity, and potential they bring determine the height of its growth and success.

The ability to drive change, adapt to new, emerging trends, welcome innovation, and foster value in society makes an organization more dynamic and powerful in true terms.

The investment in attracting and employing the top-tier talent community in the competitive workplace lays the foundations for an organization's long-term success and sustainability.

It builds a hive of strength and commitment to endure the challenges to come while establishing its eminent presence in the future. 

References:

• https://bonusly.com/post/surprising-employee-retention-statistics
• https://www.forbes.com/sites/forbesbusinesscouncil/2023/03/08/improving-employee-retention-in-2023-with-a-positive-workplace-culture/
• https://www.businessleadershiptoday.com/the-factors-that-influence-employee-retention-in-a-large-organization/