Are You Winning The Battle For Talent?

Last week, I took a necessary hiatus from my usual weekly contribution to this newsletter as I was deep into drafting my submission to an upcoming book. I put a great deal of effort into it - as I do into everything - because I believe that it's necessary if I am to live my life in excellence.

This week, I would like to share an excerpt with you. Are you winning the battle for talent? Some call it a battle, some a war. Whatever you call it, competition for talent is fierce. But you already know this. And you're not alone.

The McKinsey & Company Quarterly report, “The Great Attrition is making hiring harder” (July 2022) identified the motivating factors that keep people in their jobs and the demotivators that drive them away. The top motivating factors driving retention include meaningfulness of work, adequacy of flexibility, and adequate support for well-being. The top factors driving attrition (demotivators) include the adequacy of total compensation, adequacy of career development and advancement, and sustainability of work expectations.

From my work, it has become evident to me that we need to think in terms of new ways to grow our businesses, execute employee retention and attraction strategies and build businesses that thrive through the twenty-first century.

One thing is certain. We are living in an age of disruption. The pace of change and disruption, big and small, will continue. There’s no going back to the way it was before.  Organizations that embrace uncertainty and ambiguity, and that adapt and thrive on change will most likely be the big winners.

Flexibility, adaptability, diversity, and agility, among others, are qualities that will enable success.

You may recall Simon Sinek’s famous TEDx talk or read his book, Start With Why, How Great Leaders Inspire Everyone to Take Action. As Sinek said, “It’s worth repeating: people don’t buy what you do, they buy WHY you do it”.

It’s in our human nature to want to belong.  We invariably are drawn to leaders who are good at communicating what they believe. They can make us feel like we belong, to make us feel special and safe, and inspired.

What inspires your customers and clients to hire your company or firm, is what inspires your employees to join and stay with your organization. They believe what you believe. And because your employees want to belong to something bigger than themselves, they are inspired to work for organizations that are clear about their WHY.

In guiding one of my clients through a process to create their strategic vision and to get clarity on their positioning in their market, it became so clear. It was like a bright light shown down to illuminate the obvious. You have to know your WHY. We brainstormed on their compelling value proposition which they then used as the focal point for strengthening their branding.

Taking this up a notch or two, there are purpose-driven organizations that seek to change the world like Patagonia, Zappos, and Interface.

I’m not advocating that your purpose be to save the world, although how cool would that be? What I am advocating is that you be extremely clear about your WHY and what your company believes in.

In Drive, The Surprising Truth About What Motivates Us, author Daniel Pink writes that our economy is moving to more right-brained, conceptual work. More and more, our workforce will be made up of individuals who are driven to be self-directed, to get better and better at something that matters (mastery), and to be connected to a sense of purpose.

I believe the signs that this is already happening are evident. I’ll bet that you have seen the need to have more people on your team who have greater critical thinking and creative problem-solving skills so that your firm is better prepared to serve your clients.

If you want to have a thriving business that excels in the twenty-first century, then win the battle for talent by creating an environment and a culture where everyone is challenged with meaningful work, and where they can contribute because their purpose is aligned with your company’s purpose.

Winning the battle starts with you as the leader committing to a culture of excellence and driven by purpose.

P.S. Want to explore some ideas on how to get started? Schedule a brief 30-minute call here or direct message me on LinkedIn. No B.S. Just some ideas you can use right away.

Until next time!