Retailers Want Best-Of-Breed Talent!
The Importance of Best-of-Breed Talent To the Retail Industry!
There is no question about it; there is a difference between good talent and best-of-breed talent. My focus today is on the retail industry. Why? Keep reading to find out!
The retail industry as a whole is in the midst of a talent war. Faced with high turnover, access to mediocre talent, the cost of training and trying to retain talent continues to rise thus negatively affecting the cost per hire for some retailers. Similar to other industries, retailers are now finding it necessary to create a cohesive relationship between the talent management and talent acquisition teams. Many retailers now believe that In order to be successful on a long-term basis, recruiters need knowledge, access to best-of-breed talent and a process that allows the recruitment of these individuals to be in place. It has been proven that great companies are made up of great people; therefore it makes it very important to find and recruit best-of-breed talent at every level.
Where do recruiters get this knowledge? They get it from the competition and companies who have hired previous employees from these firms. The knowledge comes from knowing who the talent is and having access to that talent. The nice thing about knowledge like this is that it can be shared with talent management professionals and used in a variety of ways. Let me tell you that retailers who employ these strategies have very low-cost per hire numbers. I know because we continue to help them. This strategy does work.
For years my firm has assisted retail clients with identifying top talent. As the assignments roll in, I continue to preach that there is talent and there is best-of-breed talent. What is the difference you ask? Well, for starters qualified talent can do the job and perform its day-to-day tasks. Okay you may say. Best-of-Breed talent is different! These professionals can excel within the organization and have high potential to grow and advance, as well as positively affect the productivity of their team(s) as a whole. Hiring this type of talent can also lead to lower turnover if continued internal growth occurs.
Retailers have come to understand the importance of a process driven recruiting strategy and how critical it is to be sure there is a strong candidate pipeline of best-of-breed candidates to choose from. Beyond contrary belief this is even occurring at a variety of levels to include store managers, buyers, not just manager levels and above. The result is hiring “the right professionals” while hiring the “right candidates” who want to be part of a winning company. This in turn can and will reduce employee turnover over time. Retailers are not any different from other industries. In fact because most retailers do have such heavy turnover that maintaining and hiring the best talent can be at times more difficult. But now understanding the value of hiring best-of-breed talent at every level, will long-term have a positive impact throughout the company in a variety of ways.
Many believe turnover can be reduced by creating a work environment that offers career growth, continuous learning, development, having a career nurturing superior, team support, receiving recognition, respect and having a feeling of autonomy. All of these things are true, however I continue to believe that none of these things matter if you don’t start with hiring the best-of-breed talent at every level.
Don't stop now! Each hire needs to be looked upon as a great hire, not just someone filling a role. Great hiring also starts with having access to great people. We advise our clients when hiring not to just focus on filling the current role, but to find future leaders, those who can be part of the company for a long time. As we all know, this strategy can positively affect the talent management needs too. It allows great talent to have continued growth within the organization.
I believe that talent management is no longer a luxury to be focused on senior leaders and managers, but must be viewed as essential and integral part of corporate sustainability and long-term growth.
Why retail? The exciting news for everyone in the retail industry is that SGA Talent, A Sheila Greco Associates Company has created a private retail networking community where best-of-breed vetted out talent (passive candidates) can have access to opportunities as they become available before they even hit job boards. Over the next few months we will begin reaching out to many best-of-breed professionals to join our exclusive community.
If you would like more information on our invitation only retail network, please contact me at (518) 843-4611 ext 282 or via email at sgreco@sheilagreco.com
Happy Head Hunting!
Sheila Greco
