Nineteen ninety seven, the year when "Harry Potter" captured our imaginations, Leo was the king of the world, and all of us spiced up our lives. It was also the year when McKinsey and Co published their seminal article, "The War For Talent," which argued that demand for talent would soon outstrip supply. Reasons for this included a shrinking talent pool, an increasingly complex business environment, and rising job mobility. Unlike the Spice Girls, the war for talent is still going strong but how has it changed and, more importantly, what can leaders and managers do to win it? One: Create a winning value proposition. McKinsey's original article suggested that companies had to be willing to pay the price for top talent. Fast forward 20 years and the focus has shifted towards providing opportunities for development, a good work-life balance, flexible hours and varied, interesting work. The more successful organizations know how to tailor their employer brand to attract talented individuals and discourage them from looking elsewhere. Two: Recruit continuously. LinkedIn and Twitter have made it significantly easier to build strong professional networks and connect with potential employees. Great leaders recognize the value of talent and they hire A players whenever they get the chance. If there isn't a vacancy to be filled, they create one knowing their investment will be repaid with interest. Three: Develop, develop, develop. In 1997, McKinsey emphasized the need to bring talent into the organization. But as competition continues to intensify, employee development will become increasingly important. In organizations where talent thrives, the question isn't who can do this job best right now but who could do this job best with a bit of training and experience? These organizations put staff in control of their own development by making learning available at the point of need. This equips them to overcome the challenges they face in their day-to-day roles whilst also making them more suitable for executive positions. Four: Hold on to your top performers. Attracting great talent is only half the battle. You also need to retain it. The best managers regularly check in with their team members to assess how content they are in their roles. They also conduct exit interviews when an employee leaves the organization. So there you have it. The war for talent may have changed but it is still raging as fiercely as ever. Is your organization ready for battle? © 2022 Mind Tools by Emerald Works Ltd.