Net Zero Talent: How to Hire Talent… And Retain Talent

In a constantly changing world marked by a volatile, complex, and uncertain business environment, it is more important than ever to retain and recruit the best talent. With baby boomers rapidly exiting the job market as they reach retirement age, many companies are experiencing great difficulty in retaining and recruiting talented individuals to replace them, with the labour market suffering a major scarcity of talent.

Moreover, the workforce is increasingly comprised of millennials who have attitudes and expectations of work that greatly differ from their parents. With advances in technology and baby boomers taking their experience and knowledge with them into retirement, companies are in a difficult position.

With one-third of senior leaders describing the process of sourcing talent as their most significant managerial challenge and 82% of Fortune 500 companies believing they don’t recruit highly talented people, there are significant challenges to achieving net zero talent. In the long term, this has major implications for the survival and growth of organisations.

At the Diversity & Inclusion Speakers Agency, we have created a guide for retaining and recruiting talented employees:

Frequently Asked Questions About Net Zero Talent

• What are the benefits of recruiting top talent?
• What are the benefits of retaining talent?
• What is an employer value proposition?
• What role does leadership play in recruiting and retaining talent?
• How does workplace culture affect retention and recruitment?
• How does mental well-being influence retention?
• How can training and development reduce turnover?
• What changes are happening in the labour market?
• Who are the leading figures in net zero talent?
• How do I book a net zero talent speaker?

 

What are the benefits of recruiting the top talent?

Talented employees with high performance are 400 % more productive than average performers. Furthermore, the greater the complexity of the job role, the bigger the difference in productivity between average performers and high performers. These differences have profound implications for organisations in terms of efficiency and cost, they also highlight the significance of recruiting highly talented individuals in competitive environments.

What are the benefits of retaining talent?

The cost of labour turnover far exceeds that of retention. Failing to retain talent has huge implications for a business in terms of loss of skill, investment in training and poor morale. Furthermore, more time must be spent searching and onboarding talent to replace lost former employees. It is far more efficient for a company to invest in measures to retain and develop its existing talent, especially if they wish to maintain growth.

What is an employer value proposition?

The employer value proposition is one of the methods utilised by organisations to attract highly skilled and talented employees. This is done by providing them with strong purpose-led goals to engage and retain them in highly competitive job markets.

What role does leadership play in recruiting and retaining talent?

Investing in great leaders and leadership training to ensure managers know how to engage, inspire, and retain employees is essential. In a poll conducted by Gallup, more than half of employees cited leadership for changing jobs at some point in their career. Leaders play an integral role in creating an environment that is stimulating and engaging for their staff.

How does workplace culture affect retention and recruitment?

Company cultures that promote inclusivity with zero tolerance for bullying, harassment, and discrimination are paramount for retaining and hiring the best talent. The young talent pool takes values seriously and looks for companies whose values align with their own, therefore having a shared purpose will increase the retention of employees and attract the best talent.

How does mental well-being influence retention?

In a Gallup survey, 74% of employees said they experienced burnout from their job. Employees are increasingly prioritising their work-life balance and are looking for employers who take serious action to prevent burn-out through offering flexible work hours, hybrid working and care for their wellbeing.

How can training and development reduce turnover?

Training and developing employees have been identified as a major factor influencing employee retention. Highly talented individuals are always on the lookout for growth opportunities and seek to work for organisations that invest in the development of their staff.

It is incredibly difficult for organisations to retain talent if employees do not see any potential for advancement in career and salary. Furthermore, it can cost up to double an employee’s salary to find their replacement.

What changes are happening in the labour market?

The struggle to retain and attract talent has been highlighted as a major concern for CEOs in the conference Board’s 2016 survey – more pressing than economic growth and competitive intensity. Only 7% of companies who recruit highly talented people believe they can retain them and only 23% of managers and executives believe their present acquisition and retention strategies will work.

Furthermore, there is a major shift in the workforce demographic as baby boomers begin to retire. The new workforce is increasingly made up of millennials who have different attitudes and expectations, as a result, there is a scarcity of talent. With the average turnover of the youngest workers being 2.2 years, millennials are considered less loyal to their companies. Therefore, as they begin to make up large portions of the workforce, organisations must invest in appropriate retention and recruitment strategies.

Who are the leading figures in Net Zero Talent?

Below, we have outlined the very best experts to speak on net zero talent. These influential figures have cracked the code for staff retention and are regularly booked for corporate conferences to share their advice and guidance.

• Naomi Sesay – Head of Creative Diversity for Channel 4
• Michelle King – Former Director of Inclusion at Netflix
• Tim Campbell – Founder and Managing Director of Equality Forward
• Jean Tomlin – HR Director for London 2012 & Sainsbury’s Non-Executive Director
• David Smith – ASDA’s Former People, It & Loss Prevention Director
• Bruce Daisley – Former YouTube Managing Director & Twitters Most Senior Executive in London
• Jo Salter – First Female Fast Jet Pilot & Director of Global Transformative Leadership For PWC
• Caspar Craven – Former Associate Director at KPMG
• Herminia Ibarra – Professor of Organisational Behaviour at London Business School
• Stephen Frost – Former Head of Diversity & Inclusion at KPMG
• Karen Blackett – Groupm UK CEO
• Kim Blue – Chief People Officer of OpenExchange
• Graeme Codrington – Director of TomorrowToday
• Nina Goswami – Head of Inclusion UK for Clifford Chance
• Catherine Garrod – Founder of Compelling Culture
• Lucy Adams – Disruptive HR’ CEO & Former BBC HR Director

How do I Book a Net Zero Talent Speaker?

To book a Diversity and Inclusion speaker for your corporate event to discuss Net Zero Talent, contact us by filling in our online contact form.