As an entrepreneur, few decisions are more pivotal than making your first hires.
Equipping your business with the right people is an exciting concept. It opens up the possibility of sharing your vision with others, and empowering them to join you in your pursuits.
But it’s also a complicated step. You need to recognise & attract the right talent. How will your business and your talent support each other’s growth?
It’s an intricate act.
To help entrepreneurs take this next leap, we gladly delivered a recruiting seminar at the Academy of Entrepreneurs.
Let’s take a closer look at what was explored.
Big Picture Thinking
After exploring some facts and figures, we investigated how certain workforce demands are changing the labour market.
Millennials are having a notable impact on the evolution of talent management. And this is largely due to “big picture thinking”. Today, there is an increased demand for a greater sense of purpose (outside of financial compensation). In fact, more than 50% of millennials say they would take a pay cut to find work that matches their values.
The subsequent question is, “how can entrepreneurs answer these labour demands?”
And whilst there is no single answer, structuring a workplace of support, flexibility, and purpose is certainly called for.
To attract the best talent, employers need to be willing to offer purpose, rewards & recognition, clear feedback, and opportunities for growth.
Planning for People
Okay, so you’ve made your first hire. What’s next?
If you’re asking this question, then you haven’t paid enough attention to resource planning.
Resource planning, or talent mapping, means having a meaningful purpose for every employee and their skills. This planning is particularly important, as it is the key to leading your people in useful directions, which ultimately serve your business’ goals.
Sound familiar? Resource planning goes hand-in-hand with creating a sense of purpose.
What’s more, resource planning will help you avoid skill gaps, establish smooth talent management processes, and enhance your business’ competitiveness.
When delivering this topic, we ventured into more detailed areas, such as how different employment contracts can achieve optimal results in resource planning.
Overall, what this seminar made clear is that society is ever-evolving, as are labour demands. Entrepreneurs who wish to attract the best talent need to be vigilant, and responsive. Ultimately, it comes down to continuously looking for new ways to for the business and the people to support one another’s strengths and ambitions.