The war for talent” is a term coined by Steven Hankin of McKinsey & Company in 1997, following by a book written by Ed Michaels and Beth Axelrod in 2001. The term has since been adopted as a critical term in human resources.
By the war for talent, it refers to an increasingly competitive landscape for recruiting and retaining talented employees; it emphasises the importance of talent to the success of an organisation. Talent is the secret weapon in a knowledge-based economy, where strategic success depends upon creativity and innovation. In today’s increasingly competitive global marketplace, recruiting and retaining top talent is a strategic imperative. To stay competitive, leading employers are investing in new techniques to recruit and retain their top qualified professionals.
Attracting and retaining the right employees can make a significant impact on your organisation’s financial performance. Optimised organisations hire and develop talented employees – a process that starts at the beginning of the recruitment process. Employers are fighting a war for talent that continually challenges them to rethink recruitment tactics. Hence, in a bid to stay competitive in the talent market, organisations must device newer methods to make them win in the war for talent!
The above is an excerpt from my post on the iPunch column of The Punch Newspaper titled “Sourcing Talents with Social Recruiting” which was published last week Friday (September 20, 2013) both online and in print. Kindly read the online version of the post here and drop your comments. Cheers