When it comes to the war for talent, it cannot be said that business is currently winning. In Europe, according to McKinsey’s 2025 HR Monitor survey, overall hiring success (which McKinsey calculates by multiplying a company’s offer-acceptance rate by the retention rate of new hires during their probation period) stands at just 46%. Businesses are no longer simply competing with one another for seasoned talent but also with retirement, as older employees leave the workforce and fewer young people enter to replace them.
Even as businesses achieve efficiencies by automating much of the entry-level work historically done by recent graduates, many are finding it harder to secure experienced workers to do the jobs AI cannot, leaving top candidates with plenty of leverage to say no to offers. Organizations are wasting untold levels of time, money, and effort to bring much-needed skills into their business. Such a challenge requires a new way of thinking.
