Every company wants to be a place that employees are happy to work for. Research has shown that happy employees tend to be more productive, talk more positively about the business, and stay with the company longer. Why is it then that so many businesses speak about their struggles to hire and retain top talent?
For many companies, the answer to this question is a complicated one. Numerous factors come into play when looking for the right employees and building their interest in the company. How a business portrays itself to prospective employees can have a great deal of influence on their decision to apply for a position or not. Likewise, perks like benefits, opportunities to move up the career ladder, and a positive company culture play a major role in an employee’s decision to stay the course or look for something else.
This article will discuss some of the most important strategies for attracting and then retaining the talented workforce that is critical to long-term business success. Essential techniques include offering benefits that directly matter to potential new hires, providing clear opportunities for career advancement from the beginning, and focusing on cultivating a company brand and culture that employees can be proud of.
Benefits that Matter
Benefits are an important factor for every person who is considering applying for a new position. Nearly 60% of people report that perks and benefits are a major factor in their decision to accept or decline a position. Ultimately, for employers, this means that it pays to spend the time to develop a benefits package that encompasses many of the most important perks for employees.
But what are the most important benefits? It can be a tough question. Most companies can’t afford crazy benefits like catered lunches or yoga classes, but they can afford to make adjustments that the vast majority of potential employees will be thrilled about. According to the Society for Human Resource Management, the top three most important benefits employers can offer are:
- Better healthcare options including vision, health, and dental,
- More flexible hours and work-from-home options, and
- More vacation/paid time off.
Implementing even one of these perks shows that companies are working to keep up with the needs of their employees and are invested in their work-life balance. It is all part of creating a culture of caring in the workplace. Even small things like making sure employees are taking adequate breaks away from the screen so they do not strain their eyes and develop computer vision syndrome is a step in the right direction.
Mentorship and Training Opportunities
Another strategy for attracting some of the best talent is making clear that you don’t expect to hire someone and have them stagnate in the same position for decades. The vast majority of top-tier job candidates are not going to be satisfied with the same 9-5 job for years. Rather, they are going to want opportunities to get training, try new technologies, and climb the corporate ladder.
These types of opportunities come in a variety of different forms. Perhaps the company can provide every employee with a certain amount of funding for training annually. Or maybe it is feasible to offer an education benefit where the company foots the bill for a portion of college tuition to help employees pursue higher education. Another option might be facilitating a mentor-mentee program for new employees to learn the ropes.
If your business is seriously considering implementing a career development program there are numerous tips and tricks for getting started. For instance, you could start by asking employees what exactly they’d like to get out of such a program and be transparent in the development process. Don’t be afraid to mix and match different opportunities such as leadership courses, technical classes, and mentoring.
A Company to be Proud Of
The final strategy is perhaps one that many employers don’t necessarily think about when they are focusing on attracting top talent, but they should. The strategy revolves around branding and how the company is perceived by the greater community. It is about creating a buzz that makes your company the type that people want to come and work for.
This can happen in many ways. One grassroots strategy is to cultivate a company culture that speaks for itself. Companies that encourage their employees to take the ball and run, recognize employees for hard work, and create a fun and transparent environment are the types that employees are going to speak highly of. You can effectively grow your company by hiring great employees and working to retain them through career development, raises, and company culture. Automating tasks and making an effort to balance workloads will also help you manage your human resources effectively as your company grows.
Company policies that set you apart such as the good, local volunteer work the company does or the efforts to support sustainable initiatives are worth advertising to potential employees. Marketing and branding matter and using these tools to talk about how your company is different can go a long way in attracting top talent as well.
Attracting and retaining top talent is something that many companies struggle with. Strive to incorporate benefits employees care about, provide training opportunities, and work towards being a company everyone is proud to work for and you’ll be well on your way.
Beau Peters is a freelance writer from the Pacific Northwest with a passion for purpose-driven business content.
