It has been widely accepted now more than ever that attracting top-tier talent is critical to an organisation's success. A recent study conducted by Pew Research showed that in the US, 53% of adults employed shifted careers in the year 2021, which underlines the importance of recruitment and retention strategies. Here’s an overview of four suggested techniques that will allow your company to flourish:
Attracting talent is more than a simple recruitment act; it is a marketing exercise. Sell the role and the company. Use catchy and meaningful job titles and descriptions. According to reports, as much as 74% of companies have hired, at least once, the wrong candidate. That cries for effective job marketing. Further, don’t forget to highlight your company image – reputation, corporate social responsibility, diversity and inclusion, and benefits. Effective images of the organisation will not only help attract quality candidates but also ease the retention process.
Equity in promotion amongst employees is an essential facet of employee satisfaction. Recognising talent and promoting employees from within enables internal staff growth and reduces chances of external recruitment. Employee recognition also helps retain employees. Regular employee recognition, either through company announcements or during one-on-one meetings, boosts the overall attitude of employees and gives them a sense of belonging.
While recognition for their contribution is great, it is more important that employees are compensated fairly and competitively. Try to make salaries at the company commensurate with the cost of living to enable decent standards for your employees. You may also want to consider offering stock options or other forms of company ownership to encourage loyalty. Employees are more productive when they can directly benefit from the company's profitability.
The development of accepted flexible working practices stems from the increase in remote working by employees. As companies are beginning to organise office returns, some of them have realised how important flexibility can be in increasing the retention of employees. The introduction of hybrid models, in which employees attend the office a few days a week and work from home the rest, caters to a wide array of personal circumstances. Such flexibility in working hours also provides employees more control over their obligations, leading to greater job satisfaction.
This will enable you to build a robust brand that will not only win over clients but will also attract and retain top talent for the company in the long run, even in a difficult job market.