Hiring Top Talent in 2018

Hiring Top Talent in 2018

Hamish McCombie 04.12.2017

"It was all about wooing the right candidates - everything from new incentives such as a Zen area and casual dress codes, to games consoles and foosball tables in the office"

Hiring Top Talent?

The phrase ‘employer of choice’ gets regular air time whenever we are searching for a potential hire. Think back to the late 90’s and early 2000’s; the dotcom boom of the internet and the Y2K bug, when there were ridiculous levels of unemployment and companies really struggled to find quality talent at the right level.

At that time, it was all about wooing the right candidates - everything from new incentives such as a Zen area and casual dress codes, to games consoles and foosball tables in the office (I bought one last Christmas...). Did those ‘benefits’ transform them into employers of choice? Not really. Once everyone was doing it, it became the norm.

Everyone wants to be a winner

How do we create a more desirable workplace, one that is better than our competitors? To put it simply: by outperforming them! Why? Because people like to be associated with a winner. This is a crucial part of attracting top talent. It also doesn’t hurt to set the bar high for entry - it makes perfect sense. Why do so many young people apply for roles at Google and Facebook? It’s not because their remuneration is the strongest in the market...

This is how to see it: if companies can offer workers an exclusive identity that is renowned for winning and the bragging rights that come with it, then they will not need to pay as much.

Take time to get it right

For me it’s about quality, whether recruiting internally in our company or for our clients. Offering terms and conditions for all applicants is not necessary. Identify which candidates are a good fit and then target or meet their needs. If you are interested in candidates staying long term, you have to offer them good opportunities for advancing internally. With strong internal career prospects and an attractive company culture, an organisation will attract the top talent and thus will be likely to retain them.

Companies often make the error of misinterpreting what the candidate wants and focusing solely on what they can give them - too frequently this results in a mis-match. If we define the list of attributes that you want and are willing to pay for, whether with money or incentives, the results will hopefully speak for themselves. Don’t commit and rush into things, if time is taken and all things are carefully considered, the top talent can be sourced and selected. Employee turnover is costly; make sure the right candidate is hired in the first place, then give them plenty of reasons to stay for a long and prosperous career.

Please Contact Hamish McCombie if your are interested in making the next step in your career. hmccombie@morganmckinley.co.uk

Hamish McCombie's picture
Director | Banking and Financial Services | C &I
hmccombie@morganmckinley.co.uk