Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Business
    3. >The war for talent is underway: How to attract and retain employees when the battle is on
    Business

    The War for Talent Is Underway: How to Attract and Retain Employees When the Battle Is On

    Published by Jessica Weisman-Pitts

    Posted on April 1, 2022

    7 min read

    Last updated: February 8, 2026

    Add as preferred source on Google
    Image depicting business leaders strategizing on attracting and retaining talent, reflecting the challenges of the Great Resignation in the HR landscape.
    Business professionals discussing talent acquisition strategies - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:RecruitmentEmployee engagementCareer progression

    Julien Gargowitsch, CEO of Nicholson Search & Selection

    Two years ago, HR leaders were put into the difficult position of having to make multiple redundancies, implement forced work from home orders and put a stopper in the hiring process, resulting in fewer jobs for more candidates. When offices finally reopened, at least partially, they had employee and workplace safety protocols to get to grips with, all amidst the continued economic turbulence caused by the coronavirus pandemic.

    In 2022, we’re looking out at a very different landscape. As a result of lockdown (one, two and three) employees were forced to take stock of their current positions, their circumstances and their desires, inspiring many to hand in their notices in search of better opportunities that are more closely aligned with their personal needs and values. This phenomenon, known as the Great Resignation, has become a global affair, with studies revealing that 40% of employees worldwide were considering handing in their notice in 2021, and this year, in the UK, more than two-thirds (69%) are thinking of resigning.

    Now, with a surplus of jobs and not enough candidates to fill them, a war for talent is taking place amongst organisations for the recruitment and, crucially, the retention of skilled employees who have taken time to reconsider their value in the workforce. This, according to HR professionals, is set to be the HR and recruitment industry’s biggest challenge in 2022.

    Whilst there’s no silver bullet for the war for talent, there are ways companies and HR leaders can beat the odds ahead of the battle. With the exception of remote and flexible working, the fundamentals haven’t changed, with five things remaining important to candidates: career progression, job satisfaction, job security, location/commute and compensation. When put into current context, these manifest as questions around company culture; how employees are supported, developed and valued and can contribute to a company’s mission to make a difference; and, of course, remote and flexible working arrangements, which have become common and even expected.

    With candidates operating in a market where multiple employers are vying to impress them, how can companies set themselves apart from the pack, get their job listings noticed and keep the talent they worked so hard to win? The key lies in placing the employee – prospective or otherwise – at the forefront of the company. Below are some key takeaways to consider, which will help employers ensure they are head and shoulders above the rest.

    Prioritise work-life balance

    Covid-19 breached the borders of home life, blending the personal with the professional in a way that led to employees working around the clock and, in many cases, burnout. A business is only as good as the sum of its parts, or rather its employees, so it’s vital that continued focus is put on cultivating a healthy work-life balance.

    Getting creative with staff benefits can prove key here in both attracting and retaining talent. A number of companies have implemented a four-day week, for example, seeing great success, productivity increases and growing workforces. Nicholson Search & Selection recently took this a step further, introducing a new perk that allows employees to work from anywhere in the world for up to one month. Such initiatives enable colleagues to prioritise their health and well-being, spend time with loved ones and embrace passion projects. All these things lead to better engagement and job satisfaction long term.

    For many candidates and current employees, improved work-life balance involves flexible, hybrid or remote working arrangements as a legacy from the pandemic. In fact, 3 in 10 job hunters say they are looking for flexible working in their next job compared to just 17% in 2019. Similarly, for those already working in remote or hybrid conditions, 42% of employees said that if their current company stopped offering remote work options long-term, they would look for a company that does.

    Invest in processes from hiring to onboarding

    Before all else, employers must ensure that their recruitment and onboarding processes are smooth, sleek and efficient in order to be successful in this war for talent. In this age of remote or hybrid working, many organisations are working to improve their onboarding process where it has proved difficult. With a hybrid model looking to be the shape of the future (41% of employers in the UK anticipate they will have adopted a fully hybrid working model by 2023), noting the limitations of these processes now and investing in their rectification will pay dividends later.

    A good onboarding program can increase staff retention by 82%, in addition to boosting productivity, profit and company reputation. Studies of graduates consistently highlight the importance of thorough onboarding and considering turnover for new hires is at its peak within the first 90 days of employment, this process is key. When onboarding programs are neglected, companies experience failure rates of 50% in retaining new talent, according to research, impacting not just the employee but the employer’s bottom line. When done right, your investment in upgrading your processes from hiring to onboarding will result in a satisfied, excited and engaged new employee.

    Technology can help streamline these processes, but additionally, ‘soft’ skills will prove increasingly important. When candidates now have a greater understanding of their value, hiring managers will need the right people skills to attract and hold on to staff. Likewise, as the future of work has become more remote and more hybrid, leaders will need to be able to better deal with overwork, burnout, and address ‘weak ties’ amongst teams. And with more openings than ever, the competition is on.

    Show commitment to upskilling, reskilling and growth opportunities

    Today’s candidates and new hires are expressing huge amounts of interest in growth opportunities, citing it as a key driving factor in their search for a new position. In fact, 80% of individuals seeking new employment post-pandemic say they are concerned with career growth. For this reason, dedicating time and money into upskilling, reskilling and training new and prospective employees – and crucially, communicating that commitment – will prove pivotal in distinguishing companies from their peers.

    This doesn’t extend only to the essentials. Reskilling and upskilling non-technical employees in data analytics, chatbots, low/no code tools, machine learning, automation, and software platforms is becoming increasingly popular amongst the world of work. In tandem, leaders will need to ensure these employees have a good understanding of using these technologies as part of their jobs.

    Whilst digital and tech skills are highly sought after due to the major shortage in this area, companies should ensure they also invest in training that employees want to, not just have to. In doing so, you link training to career development, the benefits package, and ultimately talent retention. For companies that don’t have a learning and development team, partnering with an Edtech provider will prove useful.

    Listen to your employees and empower middle management

    The UK loses £70 billion each year in lost productivity from disengaged employees. Organisations must listen to what their people are saying and look for around all the above points and then implement positive change, remembering that the attitude and tone from the top set the ‘feel’ for the rest of the company. Seek feedback from your existing employees’ hiring and onboarding experiences and learn from them.

    It’s vital that employers and recruitment professionals are at the forefront of changes and trends in hiring more generally, but also amongst their own teams. Middle management is an often-overlooked section of the workforce, yet they are the people leading and managing teams on a daily basis. Therefore, actively seeking their feedback is crucial as powerful agents of change and goes a way to ensuring an organisation is seen to be one that puts its employees at its core.

    Businesses are increasingly recognising the importance of recruitment, not only in terms of numbers but in attracting and retaining top tier talent. With the battle raging on and no discernible end in sight, it’s likely that these efforts will increase – so employers should get ahead now, implementing these strategies to ensure they remain competitive, visible and employee-led.

    Frequently Asked Questions about The war for talent is underway: How to attract and retain employees when the battle is on

    1What is employee engagement?

    Employee engagement is the emotional commitment an employee has to their organization, which influences their level of effort and performance at work.

    2What is onboarding?

    Onboarding is the process of integrating new employees into an organization, providing them with the necessary training, resources, and support to succeed in their roles.

    3What is career progression?

    Career progression refers to the advancement of an employee's career through promotions, increased responsibilities, and skill development within an organization.

    4What are HR strategies?

    HR strategies are plans and practices implemented by human resources to manage and develop an organization's workforce effectively, aligning employee performance with business goals.

    More from Business

    Explore more articles in the Business category

    Image for Submit Your Entry for Years of Excellence Awards 2026
    Submit Your Entry for Years of Excellence Awards 2026
    Image for Nominations Open for Travel & Hospitality Awards 2026
    Nominations Open for Travel & Hospitality Awards 2026
    Image for Submit Your Entry Today for Telecom Awards 2026
    Submit Your Entry Today for Telecom Awards 2026
    Image for Submit Your Entries for The Next 100 Global Awards 2026
    Submit Your Entries for the Next 100 Global Awards 2026
    Image for Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Image for Nominations Invited for Real Estate Development Awards 2026
    Nominations Invited for Real Estate Development Awards 2026
    Image for Submit Your Entry: Process & Product Awards 2026
    Submit Your Entry: Process & Product Awards 2026
    Image for Call for Entries: HR & Recruitment Awards 2026
    Call for Entries: HR & Recruitment Awards 2026
    Image for Submit Your Nominations Today for Education & Training Awards 2026
    Submit Your Nominations Today for Education & Training Awards 2026
    Image for Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Image for Submit Your Entry Today for Business Awards 2026
    Submit Your Entry Today for Business Awards 2026
    Image for Decentralized Masters’ ‘family culture’ building trust instead of hierarchy
    Decentralized Masters’ ‘family Culture’ Building Trust Instead of Hierarchy
    View All Business Posts
    Previous Business PostSix Techniques Business Leaders Can Use to Innovate
    Next Business PostThe Rise of Embedded Finance, and What It Means for Online Retailers