The Talent War: A New Era Beyond the Game of Musical Chairs
You are surely familiar with the game 'Musical Chairs.' In this game, a group of people dance around a diminishing number of chairs while the music plays. When the music stops, everyone scrambles to find a seat, and those who can't find one are eliminated. It's a frantic game of strategy and quick reflexes, where only the fastest and most strategic players remain.
Just a few years ago, the job market resembled the game 'Musical Chairs.' Picture the chairs as companies with job openings and the players as job seekers. Those days are long gone. Today, the scenario has completely reversed, and the game has evolved from 'Musical Chairs' to the 'War of Talents.' Now, a few candidates dance around a significantly larger number of available positions. When the music stops, no one rushes to secure a seat. Instead, they meticulously evaluate which position best suits their needs and aspirations.
Perhaps this example is a bit too simplistic. However, the paradigm shift we refer to as the skilled labor shortage essentially operates in the same way. For companies (the chairs) participating in the competitive job market and seeking workers (the dancing players), it means one crucial thing: simply existing and waiting is no longer sufficient. So, what should be done?
The candidate experience is now a critical factor
To use the reversed game of Musical Chairs analogy one last time: as an employer, you must strive to be the most attractive and promising seat in the game. In recruiting terms, this means you must provide the best candidate experience compared to your competitors. The candidate experience is, essentially, the customer journey for potential employees. Just as with customers, it is crucial for success that they have positive impressions of every interaction with your company.
This is a demanding task, and it is so for two main reasons.
Firstly, potential candidates for your open positions are generally more demanding today. They insist on meaningful work (purpose) and that your company supports issues important to them (such as the environment, diversity, etc.), flexible working models, modern leadership structures, work-life balance, and many other factors.
Secondly, potential candidates come across your company in numerous places and instantly form an opinion. They check your social media profiles, website, and career page, read customer reviews on online platforms, employee feedback on Kununu, media coverage, and much more.
These are the aspects candidates pay particular attention to today
At first glance, it might seem overwhelming to adjust all these factors to be more attractive than your competitors in the context of the skilled labor shortage. However, don't be alarmed. Based on our daily interactions with candidates, we know that job seekers primarily focus on four key aspects
- Flexible working hours and remote work
- Opportunities for professional growth
- A positive work environment, and the ability to work independently
- Additionally, close and supportive guidance throughout the entire application process (including an attractive career page on the company's website)
Many companies still cut corners on the last point, under the mistaken belief that a good candidate experience requires merely upgrading in-house recruiting resources. However, there are now excellent, largely digitally automated solutions that provide outstanding results.
Therefore, I strongly encourage SMEs and start-ups to explore these technologies and systems. Now is the perfect time to do so – because the 'Musical Chairs' game, as we once knew it, won't be returning to the job market anytime soon.
Doris Fink
Managing Director/Owner
in Zurich, Switzerland.