Why 'ATTRACTION' is a key productivity factor in business

The Strategic Imperative of Talent Attraction for Business Growth

In an era marked by rapid technological advancement, shifting workforce expectations post COVID, and intense competition for skilled professionals, businesses can no longer afford to treat talent acquisition as an afterthought. Attracting and retaining the right people is now a core driver of organisational productivity, one that requires proactive strategy, innovation, and collaboration. 

For businesses and chambers of commerce alike, prioritising talent, customer and supplier attraction is not just about filling needs; it’s about future-proofing growth, fostering innovation, and maintaining competitive advantage.

Why Talent Attraction Is More Critical Than Ever

1. The Rise of the Skills Economy

The traditional hiring model (posting a job and waiting for applications) is becoming less fruitful. Top talent is selective, seeking employers who offer more than just competitive salaries. Research from LinkedIn (2025) reveals that:

• 83% of professionals prioritise career development opportunities when considering a role.

• 76% of Gen Z workers would decline an offer from a company with poor environmental or social governance (ESG) practices.

• Flexibility in work arrangements (remote/hybrid options) is now a non-negotiable for 68% of job seekers.

2. The Cost of Poor Recruitment Strategies

Failing to adapt to these trends has real consequences:

• Companies with weak employer brands spend 50% more per hire (Harvard Business Review, 2024).

• Bad hires cost businesses up to 30% of the employee’s annual salary in lost productivity and rehiring (Society for Human Resources Management, 2025).

• Talent shortages in critical sectors (e.g., tech, healthcare, trades) are projected to leave 85 million jobs unfilled globally by 2030 (McKinsey).

So, how can businesses win the talent war?

1. Get visibility on where your skill gaps are

Knowing what your talent needs are in the next 12 – 36 months is imperative:

• Strategy: Where is your business going and what people do you need to achieve it.

• Data: What are the roadblocks to achieving your strategy and what skills do you need to unblock them, how transferrable are the skills in your business so you can leverage and engage your people.

• Transparent: Clearly communicate growth paths, learning opportunities, and workplace culture to support retention.

2. Leverage Technology for Smarter Hiring

AI and data-driven recruitment are levelling the playing field:

• Automated candidate screening reduces bias and speeds up shortlisting.

• Skills-based assessments (rather than rigid degree requirements) widen talent pools.

• Training helps your leaders find the right people throughout the recruitment process. Remember, “resumes can't tell you whether someone will fit into a culture" - Howard Schultz

3. Invest in Retention as Much as Recruitment

Hiring is only the first step. To reduce turnover and boost engagement, businesses must:

• Offer continuous upskilling (e.g., mentorship, certifications, leadership training).

• Find out what your people actual want with regular feedback

• Recognise and reward contributions through structured recognition and reward programmes.

The businesses that will thrive in the coming decade are those that treat talent acquisition as a strategic priority, not just an operational task. By embracing innovative recruitment methods, fostering an engaging workplace culture, and collaborating with chambers and policymakers, companies can secure the skilled workforce they need to grow and innovate.