Win the war for talent in the year ahead


 Are you planning to hire this year? You aren’t alone!

Vistage reports that CEO optimism has reached historic levels, and the percentage of CEOs (72%) planning to expand their workforce in the coming year is the highest in the 12-year history of the survey.

 

 

The December 2017 Vistage Confidence Index survey captured input from 1,377 SMB CEOs on their projections for 2018. Based on an analysis of the survey data, Vistage has identified the critical decisions that SMB CEOs face to grow their businesses. Talent, growth and hiring are among the top decisions for 2018.

Most CEOs plan to hire more employees in 2018 and expect fierce competition for top talent. To better understand the talent decisions that CEOs expect to make in 2018, Vistage analyzed participants’ survey responses and five subcategories of talent decisions emerged:

  1. Hiring, recruitment and sourcing
  2. Retention and engagement
  3. Employee development and training
  4. Performance management, human resources and compensation
  5. Succession planning

About 25% of those hiring in 2018 will focus on this in the first quarter, while 53% percent will hire throughout the rest of the year.

Competition for qualified employees grows fierce

As detailed in the Vistage eBrief, SMB CEO Projections for 2018, a tight labor market, coupled with expectations for increased hiring, means that recruiting and retaining top talent will be increasingly difficult in 2018.

“While adding headcount is essential to growth, retaining, developing and engaging existing talent is critical,” says Joe Galvin, Chief Research Officer for Vistage Research. “It forms a foundation for adding new people. Just as you are looking for the best talent, so is everyone else — and they are looking at your people, too.”

These findings from Vistage are echoed the National Center for the Middle Market, which just released its Middle Market Indicator Data from fourth quarter of 2017. Middle market companies report accelerated revenue growth, moderate employment growth and peak levels of confidence. Tom Stewart, the Center’s Executive Director, states that finding, developing, and keeping talent has become the middle market’s biggest challenge.

Get key trends and insights on talent and culture for the year ahead

What can you offer great talent, if—like the majority of CEOs—you are focused on finding and keeping the best employees in 2018 and beyond?

With virtually everything around us changing at breakneck speed, there are certain aspects of work that have always been true, and still are. Think ethics, respect, fairness, honesty, and other human values. When you slow down long enough to ensure that basic values are built into every business function and relationship, you will more easily attract and retain top talent.

Although there are many factors that influence candidates in deciding whether or not to accept a job offer, including values, these six factors will be particularly important to address in 2018:

  • Organization Structure
  • Culture
  • Technology
  • Recruiting Imperatives
  • Role of HR
  • Millennials (Gen Y) and Gen Z

 

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *

Predefined Skins

Primary Color

Background Color

Example Patterns

demo demo demo demo demo demo demo demo demo demo

Privacy Policy Settings

  • Required Cookies
  • Performance Cookies
  • Functional Cookies
  • Advertising Cookies
These cookies are essential in order to enable you to move around the Sites and use its features, such as accessing secure areas of the Sites and using Vistage’s Services. Since these cookies are essential to operate Vistage’s Sites and Services, there is no option to opt out of these cookies.
These cookies collect information about how visitors our Sites, for instance which pages visitors go to most often. These cookies don’t collect information that identifies a visitor. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Cookies used

Visual Web Optimizer
These cookies remember information you have entered or choices you make (e.g. as your username, language, or your region), and provide enhanced, more personal features. They may also be used to provide services you have asked for such as watching a video or commenting on a blog. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Cookies used

Google Analytics
GTM
Gravity Forms
These cookies are used to make advertising more relevant to you and your interests. The cookies are usually placed by third party advertising networks. They remember the websites you visit and that information is shared with other parties such as advertisers. If you do not allow these cookies, you will experience less targeted advertising.