HIRING NEWS & TRENDS
3 Creative Ways to Attract and Retain Talent in a Tight Labor Market
1
Carve Out Time for Training:
Schedule weekly or monthly time for workers to focus on learning and development and offer flexible training options like online courses, webinars, or on-the-job training. When workers feel that training and development are parts of their job, they're more likely to commit to investing in them.
2
Set Individual Goals to Close Skills Gaps:
Regular performance evaluations help identify skill gaps, allowing workers to set specific, measurable, achievable, relevant, and time bound (SMART) development goals. Providing tools, resources, and support—like training, mentoring, and coaching—help workers feel valued and motivated to improve, which can have a positive impact on their individual growth and the organization’s culture.
3
Promote Talent Based on Progress:
Establish a fair system to recognize and reward workers for their progress on their development goals, offering opportunities for growth in positions that align with their skills. Thoughtful succession planning ensures both workers and organizations benefit from this approach, helping to build a skilled workforce for the future.
Growing Pains What is the top concern your company is facing?
- Tight budgets: 46%
- Talent and labor: 38%
- Digital transformation: 11%
- Supply chain: 4%
Vaco Linkedin Poll, August 2024: 1,553 respondents
Source: Forbes
Margaret Lilani
Senior Vice President of Global Delivery
“As we begin to see more economic growth next year, organizations are placing a stronger emphasis on investing in their existing talent through training and development. Companies that neglect training will fall behind in terms of retention.
Employees are increasingly looking for organizations that offer room for career advancement. In today’s fast-paced world, continuous training is crucial for both companies and employees to evolve alongside rapidly advancing technologies like AI and machine learning.”
HIRING NEWS & TRENDS
Learning, Flexibility, and Purpose: Why Gen Z Workers Prioritize Growth Over Tenure
REWRITING THE TIMELINE
- Gen Z workers (those born between 1997 and 2012) value passion and freedom over tenure, often viewing job-hopping as a sign of growth.
- Leaders should focus on the value workers bring in each experience, rather than trying to make Gen Z conform to traditional work expectations.
A NEED FOR SPEED AND CONSTANT LEARNING
- Gen Z is quick to learn and values growth opportunities, including continuous feedback and career progression.
- Offering learning opportunities through interesting projects is key to retaining and motivating Gen Z workers. So too is recognizing their accomplishments.
The 4 Best Ways to Invest in Gen Z
1
Value the culture:
Create a flexible, creative, and less hierarchical work environment with mentorship and upskilling opportunities.
2
Highlight causes and purposes:
Gen Z is drawn to companies that prioritize social causes over profits.
3
Focus on flexibility:
Offer hybrid work options and results-driven expectations to improve retention.
4
Level up on well-being:
Promote work/life balance with wellness initiatives and fair policies like parental leave.
MOVING WITH THE TIDE
- Gen Z wants growth and change, so leaders should focus on maximizing their potential during their time with the company.
- By understanding Gen Z's motivations, leaders create an environment of growth, keeping workers engaged, even if they move on later.
Amanda Hughes
Managing Partner
“Gen Z is redefining what career success looks like by prioritizing purpose, continuous learning, and work-life balance over traditional milestones like tenure and job stability.
Leaders can meet these expectations and attract top talent by providing meaningful learning opportunities, identifying ways to celebrate their achievements, and creating an organizational culture that fits with their core values. We’ve seen this through flexible work arrangements, internal mentorship and sponsorship opportunities, and a larger focus on well-being.”
HIRING NEWS & TRENDS
4 Research-Backed Ways to Help Your Team Collaborate Better
1
Focus on the Higher Goal
- Emphasize shared goals that require cross-departmental cooperation.
- Reward collective successes and make sure everyone understands how their efforts contribute to the bigger picture to encourage collaboration.
2
Use Inclusive Language
- Shift from "us vs. them" to "we all," using collective language to establish a team mentality.
- Leaders using inclusive language establish collaborative environments and increase company profitability.
EXAMPLE Instead of saying “The marketing team missed the mark,” try, “We need to get more creative in our marketing strategies.”
3
Share Resources Fairly
- Fairly distribute resources to promote collaboration, not competition.
- Companies that share resources and profits across teams see improved morale, engagement, and productivity.
4
Focus on Constructive Criticism
- Encourage open, risk-free feedback to promote learning and growth within teams.
- Teams that create psychological safety can improve through constructive criticism, avoiding groupthink and boosting performance.
Source: Harvard Business Review
Kim Wacaser
Managing Partner
"Self-reflection and self-awareness are critical for workers. But individuals can’t always see their own gaps.
People flourish in work environments that embrace collaboration and constructive feedback rooted in mutual respect. Companies that build, evolve, and champion this type of environment will reap the benefits through improved morale, engagement, and productivity.”
