Attracting, retaining and enhancing talent is a key element for the future of work, according to the recommendations of the experts of Fundación Innovación Bankinter.
These are the Future Trends Forum experts’ proposals to attract and retain talent:
2.1.- Creating talent heroes
Attract the best talent by offering greater flexibility, autonomy and growth opportunities.
Respect and value jobs that are not valued properly at present—caregivers, teachers, cleaning staff, etc.: All jobs can make a difference.
Sponsor films/TV shows that show the value of these jobs.
Fair wages: more balanced wages
Grounds for the proposal: Inspired by Taiwan’s system to attract talent from Vietnam, Philippines, Indonesia, Thailand, and its integration and cooperation policies with these outbound countries.
2.2.- Winning the talent war
The pillars to have the best talent are:
- Meaningful work, measuring productivity as well as contributions to the organization and society.
- Organizations must have an ambitious, feasible purpose, so that employees can identify with it and turn them into an organization’s best new talent acquisition champion.
- Define metrics to retain and attract talent and optimize the process: talent begets talent. Align values with the mission, and the purpose with recruiting and hiring practices.
- Define policies to balance wellbeing and productivity.
Grounds for the proposal: B-Corp initiative led by B-Lab. B-Corps (Benefit Corporations), have social and environmental sustainability as the cornerstone of their activity, and the only way to guarantee a future.
2.3.- Access talent fairly
This is an international recommendation. Talent can be located anywhere in the world. It would be convenient to define policies to redistribute taxes in such a way that countries providing the services can be compensated for their investment to train and educate, and for healthcare costs, for example.
We should optimize mobility and access to talent, by entering into international cooperation and compensation agreements executed on Blockchain.
Grounds for the proposal: Much the same way that large multinational taxation is being regulated, there should be an international agreement regarding the redistribution of digital nomad taxes.
“It is the moment to reconsider the idea by the renowned economist Jagdish Bhagwati, the so-called Bhagwati Tax: pay countries that provide talent for their brain drain.”Future Trends Forum expert
2.4. Redefining talent
Let’s start with the definition of talent: set of skills and capacities needed for the economy that contribute clear value.
We must focus on offering quality of life, wellbeing and powerful technological infrastructure to attract it.
Organizing global competitions in the country with Kaggle for example, and then inviting winners to work on site is a proposal to accelerate talent acquisition.
Grounds for proposal: Inspired in initiatives such as 42 Madrid by Telefónica, an academy of values, attitude and hard and soft skills, made international.
2.5. New talent communities
Create an ecosystem in one or more physical locations to attract international talent and encourage talent who had left the country to come back.
This ecosystem builds a community via co-living, co-workingand cultural and professional events and entertainment. It includes a digital layer to facilitate the red tape linked to payments and collections.
It will spur start-ups and promote entrepreneurship in the community.
Grounds for the proposal: Initiatives such as the Estonian e-residence can appeal organizations and individuals to first settle electronically, and then in-person. Other initiatives such as the Tulsa Remote, where remote workers are paid to live in the city, they are given easy access to housing, education and integration in the community, are also inspiring.
“An ecosystem to attract talent must be, above all, inclusive. Inclusiveness is a magnet that lures the best professionals.“
Future Trends Forum Expert