The Great Attrition is Making Hiring Harder. Are You Searching in the Right Talent Pools? | McKinsey

Talent Management

Workers continue to be more discerning about what they expect and value in the worker-employer relationship. As a result, many leaders are turning to their firms’ employee value proposition (EVP)the set of attributes the labor market and employees perceive as the value gained through employment with an organization—as a source of differentiation. However, many organizations continue to rely on traditional EVP levers to attract and retain people—although varying segments of the workforce place more value on other aspects of the EVP. This article shares new research that identifies five distinct talent pools (or personas) with varied workplace priorities. The pools are 1) Traditionalists. Career-oriented people who care about work–life balance but are willing to make trade-offs for the sake of their jobs. 2.)The do-it-yourselfers. Run the gamut from self-employed to full-time employed in nontraditional roles to gig and part-time workers. 3) The caregivers and others.  Have decided to sit it out at home, with some actively looking for work and others who are passive job seekers hoping to find an opportunity that would justify reentering the paid labor force. 4) The idealists: Students and younger part-timers and 5) The relaxers. This cohort is a mix of retirees, those not looking for work, and those who might return to traditional work under the right circumstances. Exhibit 4 shows how nontraditional workers (the four groups other than the Traditional segment) vary in their preferences, and Exhibit 5 shows a more detailed breakdown of three nontraditional groups. One limitation of worker personas is that they don’t always capture the multifaceted components of one’s identity and values and how they might change with life stage, personal situations, etc. Therefore, personas provide directional guidance on shifting preferences and are not a substitute for understanding what is important to each individual.