The Great Resignation: Has Everyone Just Lost Their Mind?
Business leaders know that companies with great executive talent significantly outperform their competitors. So, it should come as no surprise that the competition for talent is fierce. Additionally, globalization, attrition, and changing demographics have led to a scarcity of talent. This is not because of the, “great resignation”. Employers can not wait this out and hope hiring will get easier – NOT GOING TO HAPPEN!
Hiring the Best though … is not about money – it never was. Shocking but true, the best candidates will come to an organization not to make more money … but because of what the organization stands for … and what it’s going to achieve.
Today, more than ever, companies need leaders who can use a common mission to inspire a community of people to operate at peak levels of performance. This has deep implications for which aptitudes and qualities you recruit for, who you hire, and how they lead.
In the knowledge-based, Industry 4.0 Economy, management’s job is to cultivate an environment and culture that enables their people to leverage their intelligence and creativity. You achieve this by looking for and hiring a leader who can develop the following intelligences within the organization:
Emotional intelligence (EI): It’s not just people who display emotional intelligence (EI). Organizations can, too. In organizations with high EI, employees believe in themselves—but are confident that the organization will have their back if they need support or guidance. It’s this confidence that enables them to try new things (which in turn, drives innovation). It also reassures them that help is available if things go awry. Easy to probe for when speaking with a prospective job candidate.
Relationship intelligence (RI): Companies with relationship intelligence (RI) demonstrate caring. This doesn’t just make for a happier workplace, however. It also boosts the bottom line. Simply put, caring is the basis of trust. When people trust you, they can speak openly and frankly with you. When people can speak openly and frankly with you, then you can solve problems together. And when you can solve problems together, you can leverage each other’s creativity and knowledge to build competitive advantage. Like James Autry—who began his career as a publishing executive and went on to write several books on a variety of topics, including leadership in a knowledge economy—once said, “I need to know that you care before I care to know what you know.”
Corporate Intelligence: In high performance organizations, employees share a common cause. Not only do they understand the company’s goals and objectives, but they also believe in them. Indeed, they believe in them to such an extent that achieving them becomes personally meaningful.
When you combine Emotional Intelligence, Relationship Intelligence, and Corporate Intelligence, you produce an environment where your employees are plugged in, turned on, and in tune with your organization. When you have that, it’s like winning the Triple Crown of thoroughbred racing!
The goal in hiring isn’t to find the best talent currently looking for work, or at least it shouldn’t be. What it should be: finding the best talent, period. And herein lies the recruiting challenge: the best talent isn’t looking for work. They already have jobs – good jobs. These people are staying put during the ‘great resignation’ because they’re treated well and appreciated.
All this to say that effective recruiting is now at the core of what builds competitive advantage. Understanding what qualities of a job candidate matter and how to recognize them is key. Acting on this will help you navigate the great resignation.