In this episode of the HR Grapevine podcast, host Kieran Howells speaks with Dominic Holmes, Principal, Strategy & Value at Cornerstone, about the current state of the talent market, trends in the industry and what job seekers expect from potential employers.
The Current state of the talent market
Kieran starts by asking Dominic to give his take on the current state of the talent market. Dominic notes that the market is very active and competitive, with job seekers in high demand. He suggests employers need to focus on attracting and retaining top talent, particularly given the current talent shortages in many industries. Dominic then goes on to discuss some of the key trends that he's seeing in the space. He notes that many organisations are embracing remote work and hybrid work models, which are becoming increasingly popular among job seekers. He also points out that many employers are offering more flexibility and benefits to their employees, including things like mental health support, parental leave, and more. Kieran and Dominic then discuss what job seekers expect from their potential employers.
Employee expectations are far beyond just salary
Dominic notes that job seekers are looking for more than just a paycheck – they want to work for companies that align with their values and offer a sense of purpose. He suggests employers must be transparent and authentic in their messaging and branding to attract top talent. The conversation then turns to the topic of talent development and retention. Dominic notes that organisations can no longer rely on a one-size-fits-all approach to talent development, and need to offer personalised development opportunities to their employees. He also suggests that employers need to focus on creating a positive work culture to retain their top talent.
Talent management strategies
Kieran and Dominic then discuss specific strategies for developing and retaining talent, including mentorship programs, continuous learning opportunities, and career pathing. They also discuss the importance of creating a diverse and inclusive workplace, where all employees feel valued and supported.
The episode on HR Grapevine concludes with Dominic's advice for employers looking to improve their talent strategy. He suggests that employers need to be proactive in their approach, and should focus on building solid relationships with their employees. He also notes that it's vital for employers to embrace change and be willing to adapt to the evolving needs of the talent market. Overall, this episode provides valuable insights into the current state of the talent market and offers practical advice for employers looking to attract, develop, and retain top talent.
To learn more about talent retention and talent mobility, check out our recent EMEA talent mobility report.
Want to keep learning? Explore our products, customer stories, and the latest industry insights.
Your holistic guide to talent success
The 2023 Talent Health Index: Your holistic guide to talent success, a new report led by the Cornerstone People Research Lab, provides you with a comprehensive view of the state of talent programs across organizations worldwide. The study found that most organizations are falling behind with their talent health initiatives, but they don’t have to stay that way. With the 2023 Talent Health Index, you can better understand what a successful talent program looks like and what steps you can take to redefine your talent strategy and unlock your organization’s full potential.