Today, employers need to keep up-to-date with the latest trends in the talent market.
Think about it. Attracting the best talent is not as simple as posting a job ad. It comes down to knowing (and responding to) the job market demands.
The South Summit offers the perfect setting to become up-to-date with such trends. So, from the 4th-6th of October, The Polyglot Group’s European team attended the summit in Madrid.
About the South Summit
The South Summit has been deemed as “the leading event from the south, connecting the most innovative entrepreneurs with the most important investors in the world.” It certainly lives up to this reputation.
The 2017 event presented cutting-edge topics presented by renowned industry speakers. The summit combined inspirational talks and workshops with a startup competition that showcased the best talent from the south.
All up, the summit dew over 12,500 attendees!
Now, we are happy to look back on our learnings and share the latest developments.
The Power of Choice
Globalisation & technological advancements have profoundly impacted the job market.
For example, candidates can explore job opportunities from all over the world. This equates to more choices.
Moreover, job seekers now have incredible access to information. Through simple research, candidates can discover a wealth of information about an industry or workplace.
These factors have placed increased pressure on employers. Businesses need to ensure that their employee branding appeals to that desired talent pool.
Let’s look at what the South Summit had to say about attracting and retaining talent.
The more options we have, the more difficult it becomes to make a decision. This principle certainly applies to candidates.
With so many options at their fingertips, candidates are seeking a sense of “why”.
By this token, meaningful work is becoming all-the-more important. All in all, the South Summit showed that start-ups can attract and retain talent when they offering rewarding careers.
In fact, multiple start-ups are putting this principle into practice, including the winner of the South Summit Startup Competition, Wallbox. With their charging systems, Wallbox is supporting sustainable and environmental transportation. And for many, this kind of purpose is well-worth engaging in.
Times have changed. A candidate’s first impression no longer begins with an interview. For many, first impressions start with a digital encounter. Tools such as Glassdoor and LinkedIn provide candidates with the opportunity to research the workplace without direct contact.
Likewise, these websites also present the opportunities for employers to build their company reputation and target future employees. Businesses are using these sites to convey their company voice and engage their desired talent pool.
At the South Summit, we got the chance to listen to Allen Blue, Co-Founder at LinkedIn. Amongst many other interesting points, Allen pointed out that candidates who “follow” your business will be much more responsive to offers, compared to those who are contacted via cold calling.
Play Your Cards Right
Attracting talent is a bit like putting your best cards into play.
If a meaningful job role is the Ace, then career training is the Queen of Hearts. After all, training provides a sense of progress, which is considered fundamental by many.
Continuing the analogy, the King stands for innovation. I’m not only referring to innovative systems and processes, but also to innovative leadership. Startups have an advantage here, as they often possess an agile approach to change. This is something many candidates look for (and so it should be strongly proclaimed!).
Despite the cards you have been dealt, a strategy is always essential. This strategy could take the form of talent mapping. By adopting this strategic approach, startups can identify talent gaps, and develop a plan with a timeline to fill these gaps.
Overall, it’s about putting your company’s strengths into play and planning to constantly better the business.
This is just one of the many reasons why we attend the South Summit, and look forward to continuing to do so.