You already know there’s a talent shortage, why should you read another article about the war for talent? Because at Projective Group, we’re not talking about a war for talent anymore. We’re talking about a war for people. And we will tell you how to be victorious. To arms!
Before we dive in, let’s recap. Since the 1990s, the landscape for recruiting and retaining employees with the necessary skills for a company’s activities (“talent”) has been increasingly competitive.
How did we get into this pickle? First, there’s a demographical explanation: while there is an increasing demand for talent, we’re facing a decreasing supply. There are simply fewer workers in recent generations to replace the workforce that has reached the age of retirement (at least in Europe and the US).
While there is an increasing demand for talent, we’re facing a decreasing supply.
Second, professional mobility has risen, especially among younger generations. Not only are younger workers more inclined to change jobs if they can find better career opportunities elsewhere, but there’s also an increase in labour mobility between EU countries.
Third, the priorities of young workers have changed. Of course, pay is still very important, but so are other factors, such as employee well-being, hybrid working policies, opportunities for growth, purpose, office culture, DE&I, and so on.
Unicorns
At Projective Group, we look for ‘the perfect fit’ between our clients and our consultants. Up until a few years ago, this meant a one-to-one match between what the client was looking for, and what the consultant could offer, taking into consideration a cultural fit as well. However, this ‘perfect fit’ no longer means the same thing today.
Switch your focus to people with good basic skills and the right mindset. That is really all you need.
It’s simple: as top talent becomes increasingly scarce, it is almost impossible to retain the so-called ‘unicorns’ – the employees with a unique set of qualities that set them apart from everyone else. They are wanted and courted by everyone. So we suggest you stop chasing these unicorns. Instead, switch your focus to people with good basic skills and the right mindset. That is really all you need. Every gap in knowledge can be closed pretty easily through training, as long as there’s basic knowledge, motivation and intelligence. Recruiting horses and turning them into unicorns is exactly what we do at Projective Group.
Bridging the gap
“Someone’s potential and their skills are much more important than their diploma,” says Stefan Dierckx, CEO at Projective Group. “That one-to-one match we used to strive for is no longer of this time. Maybe people lack certain technical skills for a job, but you can always teach those skills. People need to be allowed to grow organically in their careers. All that matters is that they are motivated, have a good set of basic skills, have the right mindset and that they show potential. Everything else can be taught. Thanks to our extensive training and coaching program, we can close that skills gap rather easily.”
Someone’s potential and their skills are much more important than their diploma
Stefan Dierckx, CEO Projective Group
Conclusion
We’ve passed the war for talent stage and crossed over into a war for people. This doesn’t mean ‘take what you can get’ but broaden your horizons. Fish from a bigger talent pool. Even if someone doesn’t tick all your requirement boxes at first, you might see them thrive in your organisation after only a few months, given the proper training and coaching. All that really matters is their potential, mindset, and motivation.
P.S.: Don’t have the time to train new people? Not sure where to find these young potentials? For us, it’s what we do every day. So, if you’d like some help, get in touch and let’s partner up!
About Projective Group
Established in 2006, Projective Group is a leading Financial Services change specialist. With deep expertise across practices in Data, Payments, Transformation and Risk & Compliance.
We are recognised within the industry as a complete solutions provider, partnering with clients in Financial Services to provide resolutions that are both holistic and pragmatic. We have evolved to become a trusted partner for companies that want to thrive and prosper in an ever-changing Financial Services landscape.
