How to Win The War for Talent When You Can’t Offer The Highest Salary
Talent development is a critical element in the success of organizations. As employers seek out employees, they often look for the best-suited individuals. This arduous task requires keenness from the employer to avoid missing talent. More organizations are hiring employees rapidly to ease the pandemic’s effects on the entity. However, the main dilemma revolves around creating a balance between the talent war and insufficient financial resources (First Nations Development Institute, 2018).
According to Paul Farrer, an employer can stand out in the race for talent without high salaries. Already, the financial effects of COVID-19 reduce the resources that an organization can access. Therefore, it is critical to find a way to still attract talent using the available financial resources. One of the recommended strategies is creating progression opportunities and enabling the achievement of career goals (Sharma & Shirsath, 2014). This initiative requires transparency from the employer and employee as well. The process should start with information sharing regarding the career goals, willingness to participate in the available progression opportunities, and creation of a progression path. I agree with this recommendation because it gives employees hope for growth in their careers. It also enables the organization to support employees in unique ways, which is meaningful.
The author also suggests that employers should encourage flexible working hours, articulate their business culture, provide evidence of their success, and divert the focus towards the entire package instead of the salary only. These aspects are important in attracting and retaining talented individuals. Salaries are just an element of the entire remuneration. Ignoring other aspects closes the HR officers’ minds and frustrates employees. This approach allows organizations to think beyond the current norms (SHRM, 2021).
Following an extensive period of flexible working arrangements, the employees need time to adjust to working from the office. The flexibility that the working arrangement during the pandemic offered was important in attaining a work-life balance (SHRM, 2021). This flexibility is still important for employees and the organization as well. Using this strategy, it is possible to attract the best candidates in the market and stand out as a brand.
In addition, articulation of the company’s culture is a critical strategy. However, this strategy needs more than just telling. It demands action from the management. Employees need to see the culture in action. This inspires confidence in the organization and the management. It creates a desire among employees to be associated with such an entity (Farrer, 2021). I agree with the author’s recommendations because they all enlighten employers on ways to ensure that talented employees are accessible, and they benefit mutually from the arrangement (Nurney, 2005).
I would like to add that talent development demands attention to the employees’ learning needs. An organization that intends to offer such opportunities must consider whether the skills gained are important to the employees’ job descriptions. In the process of discussing these talent development opportunities, organizations should ensure that there is an assured return on investment, which can be achieved by informing employees about the skills they require for growth (HR-Survey, LLC., 2020). Informing does not imply that the employee should not voice their opinions and desires. However, alignment with the goals of the entity is important.
Conclusion
Talent development is a process that allows employees to grow. Organizations that lack the financial resources to remunerate top talent sufficiently should utilize transparency, their cultures, flexible work arrangements, and the provision of growth opportunities to retain or attract their clients. Creativity is important in ensuring that employees are convinced about the brand’s ability to manage their talents.
References
Farrer, P. (2021). How to win the war for talent when you can’t offer the highest salary? Retrieved from https://www.peoplemanagement.co.uk/voices/comment/how-win-war-talent-when-not-highest-salary
First Nations Development Institute. (2018). Successful Evaluation: Creating SMART Goals & Objectives. Retrieved from https://www.firstnations.org/wp-content/uploads/2018/12/EvaluationTips_SMARTGoalsObjectives.pdf
HR-Survey, LLC. (2020). Training Needs Assessment Survey.
Nurney, S. P. (2005). HR Agenda – Global HR Management. Retrieved from https://www.shrm.org/hr-today/news/hr-magazine/pages/0305nurney.aspx
Sharma, V., & Shirsath, M. (2014). Training –A motivational tool. IOSR Journal of Business and Management, 16(3), 27-35.
SHRM. (2021). How to Conduct a Training Needs Assessment. Retrieved from https://www.shrm.org/resourcesandtools/tools-and-samples/how-to-guides/pages/conduct-training-needs-assessment.aspx
Walmart Inc. (2019). Opportunity & Advancement. Retrieved from https://corporate.walmart.com/our-story/working-at-walmart#values
ORDER A PLAGIARISM-FREE PAPER HERE
We’ll write everything from scratch
Question 
How to Win The War for Talent
PERFORMANCE/TALENT MANAGEMENT; CHANGE MANAGEMENT—CONSULTING—OD
It is important for HRM professionals to keep up with the HRM field. In this SLP assignment, you will be investigating an HRM practitioner publication, TD (Talent Development) found in the Trident Online Library. It is the main publication of the Association for Talent Development (ATD)—a well-known association dedicated to professionals in employee training and development.
Select an article of your choice, published within the past three years, related to a topic in this module. Discuss the following:
What main points does the author (or authors) make? Do you agree? Why or why not? What would make this article stronger? Bring in at least one other author’s viewpoint on the topic (from your background readings or library research), comparing or contrasting it to the article that you read.