Organizations admired as “talent magnets” don’t arrive at that perch by chance. Highly skilled, creative, and driven people want to work for them because of their unique, positive cultures, which these leading companies and institutions cultivate assiduously.
Oracle’s Pamela Stroko and the Talent Strategy Institute’s Al Adamsen conducted interviews with and tapped research from a variety of sources—including Bersin by Deloitte, CEB, and Fortune’s “Best Places to Work”—to better understand what makes talent magnets so special. They identified and interviewed people at a variety of leading organizations, for a report titled “Four Ways to Build a Talent Magnet Organization.”
The authors found that the values most prevalent at talent magnet organizations are trust/character, engagement, energy, focus/good priorities, and creativity/innovation. Values such as happiness, purpose/passion, and authenticity are important when shaping culture and are also consulted as part of organizational decision-making, though slightly less often.
“What distinguishes talent magnet organizations from everyone else is that, first and foremost, they live their values,” Stroko is quoted in an article on Inc. magazine’s website. The article, by Adam Fridman, describes those values as the “who we are” and “what we aspire to become,” and it notes that it’s up to each organization to institute talent practices that encourage and support them.
Back to the title of the Oracle report: What are those four key ways to build a talent magnet organization? The report recommends that organizations:
Being a talent magnet isn’t just a badge of honor. In this increasingly competitive and fast-moving business climate, identifying and retaining great people may be a company’s most enduring advantage.