War of Talent-The fight for the best
The term "War of Talent" arose in the 90s as a result of the steadiness of business world development. This term describes the company’s struggle to attracting the best talents ever.
Most companies are looking for university graduates, but these are becoming more and more difficult to find. HR managers work under pressure to find suitable employees while graduates find it difficult to find a job due to the high employers’ demands.
There are many reasons why the War of Talent continues to spread:
1. Global economy increasing competitiveness
Competition is growing at international levels. Companies no longer compete with local companies, but with the whole world. Since companies want to remain competitive, they must focus on employee retention and find suitable new candidates.
2. Demographic change
In the future, it will be easier for university graduates to find a job for birth rates all over the world have gone down for a long time. Few competitors mean easier assertiveness and therefore companies are recruiting anticipatedly looking for potential candidates at the different universities.
3. Continuous development of the society
Employees must learn new things to be up to date. Since the skills and competences of employees always play an important role, they have to pay attention to their own continuous development in order to have the chance for sustainable success.
4. More job opportunities for potential candidates
Automation is getting rid of job positions, however; new job opportunities are growing all the time so graduates will have a chance.
5. A change of values in society
Life perspective looks different for younger generations. Instead of being keen on good salaries and security, younger generations are more interested in a healthy work-life balance and flexible working hours. This pose the need to create new incentives to attract and retain new employees.
6. Growing economy for neighboring states
Graduates from all over the world are pushing into the European labor market and from Europe into foreign labor markets. With the growing young talent flexibility, companies need to make greater efforts to attract their employees.
Globalization combined with demographic developments and the increasing need for new qualifications make it difficult for companies to find suitable applicants and employees. In order to achieve successful recruits, companies are focusing on the active search of new talents as well as on the creativity in developing measures and concentrating on authentic employer branding.
Acensblue as a recruiting and headhunting specialist, as well as a personnel consultant, will gladly support you in your search for new talents. Please feel free to contact us by e-mail or via our website.