One of the most important growth factors for all places and regions is the winning the battle for talents. Talent attraction has turned into a global competition, and the battle for talents is becoming a strategic element for most places willing to nurture their growth.
A key factor in attracting talent is the relationship between Employer Branding and Place Branding. The individual’s decision to move to a place is normally determined by how a specific company manages its Employer Brand and how the place simultaneously by its Place Brand manages to convey a comprehensive picture of how life for a potential resident could look like after a move. Only when both of these images appear to be attractive enough for the individual a move becomes reality.
The most effective Talent Attraction activities occur when Employer Branding and Place Branding reinforce each other in a systematic way. For this reason some places have built joint platforms, between the public and private sectors, in order to secure a better inflow of talents.
The three main target markets in the world of place managers are illustrated below. It is important to understand the targets and what the place has to offer now and in the future. The first step in place managers’ efforts for talent attraction is to identify the underlying needs of the individuals and to meet these needs. Most companies need to recruit more talented people with specialised skills.
There is one arrow to the right leading to the potential and present residents’ market from the visitors market. This illustrates the valuable connection between visitors and residents, where temporary visitors can lead to an inflow of new residents.
Talent attraction is a complex process where soft factors seem to be more important than ever. It is no longer solely about moving to an attractive job; soft factors such as child care, housing supply and family security tend to be more and more important in order for the places to win battle of talents.