War for Talent is an old term and theory but in today’s market it is once again becoming increasingly true and relevant. As a consequence the phrase is also being highlighted and discussed more and more by a wide ranging audience.
As a wide variety of economic indicators are increasing and collectively illustrating, the overall economy and subsequent economic landscape is ever improving. Data to support this theory ranges from falling unemployment figures, a rising housing market, and a multitude of positive corporate results. Furthermore the CBI has this week revised upwards its original forecast for growth this year to 1.2%, and even Retail figures are on the up as footfall and consumer confidence continues to slowly improve.
In fact even the most cynical and sceptical observer would have to acknowledge that the overall signs are positive and cautiously the market is slowly improving. Yes, undoubtedly there will be winners and losers, as is always the case, but under the stewardship of the Bank of England’s guidance UK Plc is growing in confidence. The net result of which is that more and more organisations are once again investing in people, process and equipment.
As a consequence therefore organisations shouldn’t be surprised by the fact that it is once again becoming increasingly tough to attract and appoint top talent. Especially as more and more companies look to add to their existing teams and facilitate further growth.
Any organisation looking to make a key appointment shouldn’t therefore enter into any recruitment campaign half-heartedly. All candidate attraction strategies must be well planned and thought out, multi-faceted in overall approach and rigorous in execution.
Simon Walton is a Partner and Head of Consumer & Retail Practices at Berwick Partners
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