3 Keys to a Long-Term Talent Strategy in a Changing Market
Key Highlights :
As the workforce and job market continue to change, HR leaders must develop a long-term plan to ensure they can navigate talent ups and downs. To ensure your company is prepared for the future, it's important to have a succession plan in place, bring back boomerang employees, and engage millennial talent.
Succession planning is key to ensuring your company is prepared for the unexpected. Identifying mission-critical roles at every level and positioning employees for advancement is essential. Communicate promotion pathways and follow through with challenge assignments, skill development and leadership training to ensure your company is ready for the future.
Bringing back former employees can also help solve recruitment challenges. Boomerang hires require less training than new hires, save on recruiting costs, and boost team morale. Building an alumni engagement program can help open the door for talent to return, along with proactive alumni recruitment.
Finally, it's important to engage and retain Millennial talent. Understand why employees stay in their roles, and why they leave. Salary, work-life balance, promotion opportunities, and a disconnect between daily tasks and big-picture mission are all factors to consider. Companies should also look at providing flexible work arrangements, such as remote and hybrid work, to keep employees connected to the company culture.
Your next leader could already be within your company. It’s up to you to engage that talent, retain it and set it on a path to success. By implementing a succession plan, bringing back boomerang employees, and engaging Millennial talent, you can ensure your company is prepared for the future.
