Attracting and retaining top talent requires distinguishing yourself from competitors in an increasingly talent-strapped market, and several key concepts can help your firm stand out.
Make sure that the candidate communications and interview process reflect your company culture. Studies reveal that candidates value company culture more than salary when making hiring decisions.
1. Invest in your employer brand
Employee turnover can be costly, making a strong company culture integral for achieving optimal levels of productivity. Employees tend to stay longer at companies which align with their values and offer enjoyable working conditions; businesses with strong employer brands see lower turnover rates.
Employer branding is more than a marketing tool; it’s also an effective recruitment strategy. Today’s job seekers research potential employers just like they would research any purchase; they want to understand what it will be like working for a specific organization before applying and are drawn more toward hearing first-hand stories from current or former employees than corporate messaging.
Hireology research indicates that candidates applying to jobs with long and complex application processes are twice as likely to give up midway due to technical issues, potentially costing businesses top talent. To prevent losing talent altogether, invest time in creating an exceptional candidate experience by giving applicants an idea of their future working lives through virtual simulation.
2. Offer a competitive benefits package
Any organization seeking to attract and retain top talent must provide an attractive benefits package in order to stand out. This could include providing generous salaries, flexible working arrangements, encouraging employees to give back to their communities through volunteering opportunities, offering mentorship programs or creating an environment conducive to career advancement.
Employees don’t just look for money when searching for their next role; they want something challenging and rewarding as well. Employees who feel their skills are being challenged while receiving recognition for their efforts tend to stay longer in the role, becoming invested in its success and contributing positively towards its growth.
Many employers face difficulty crafting competitive benefits packages and creating environments that attract top talent, but one key component to ensure the retention of top employees is to shorten the hiring process. Since many top candidates already have another job they don’t wish to take multiple days off for interviews; using technology such as virtual interviewing, simulations or videos that allow candidates to self-select is a great way to streamline this step and reduce travel expenses.
3. Offer a work-life balance
Work-life balance is an increasingly sought-after criteria among top talent. Employees with a healthy work-life balance tend to be more productive, less stressed out, and enjoy better health outcomes than those without such balance.
No one-size-fits-all solution exists to this issue; different employees may benefit from starting early and staying late while others need longer hours for family obligations. Some employees might even prefer part time work but are uncertain how to express this desire to their managers.
Understanding what your employees need from their jobs is paramount to creating experiences that meet those demands. Even small actions like verbally praising an employee’s performance or sending them a note of thanks can go a long way toward making them feel valued by their current employer – especially when they feel underappreciated by them.
4. Offer professional development opportunities
Provide professional development opportunities as an effective means of keeping your service company’s talent engaged and content. Not only does this boost employee confidence, but it shows the employee that the company cares for their career development and is invested in their growth; ultimately leading to higher job satisfaction, productivity increases, and improved morale.
One of the primary reasons employees leave companies is if they feel stagnant within an organization and unable to advance in their career. By providing clear pathways for career progression and making your service business more appealing to talented applicants, offering career advancement plans can help prevent this.
Alternatively, if your business can afford it, offer tuition reimbursement to employees. Tuition reimbursement provides an incentive for them to expand their skills outside the workplace while simultaneously showing that your company cares about its staff – something most candidates appreciate when applying.
5. Create a fun workplace
Have fun at work can improve productivity, boost employee morale, and encourage employees to remain with your company. From sharing personal tales of humor from work experience or encouraging harmless pranks among colleagues to adding humor into the workplace environment and inspiring creativity – being funny can make any workplace more enjoyable!
Other workplace activities that can add an enjoyable element to your office include decorating with personal items like wedding and trip photos and creating photo scavenger hunt templates so employees can find each other easily. You could also create a directory listing everyone in the office so employees can learn about who they work with as well as learn more about their lives outside the workplace.
Finally, to add more fun and relaxation into the office environment, give employees the freedom to pursue their favorite hobbies such as adult coloring books, model-building, or scrapbooking. Hobbies offer relief from stress while providing an outlet for employees with similar interests to share them together and form lasting bonds among staff members.
