HR Strategy: How to Recruit and Retain Top Talent
Hiring and keeping top talent is a challenge for many companies.
The problem is that not enough companies are taking the necessary steps to recruit and retain top talent. If your company wants to grow, you need to take action now.
Why is culture important?
Studies show that company culture makes a big difference when you want to recruit and retain top talent.
People tend to work harder in a positive environment with coworkers they enjoy working with. Additionally, a friendly office culture will make employees feel comfortable enough to approach management when there are problems. That’s why it’s so important that companies looking to grow focus on creating an enjoyable atmosphere for workers.
How do you build an enviable culture?
Think about all of the things you can do to market your company and promote a positive culture. This can take many forms, whether it’s having an excellent social media presence or offering contests for the community to participate in.
You also want to make sure that your company is open about its practices, including things like how you treat employees and what your benefits package entails.
Let’s go deeper into some of the factors that will allow you to recruit and retain top talent.
1. Organize job fairs/recruiting events.
The best way to attract talented employees is by attending job fairs and recruiting events hosted by local organizations. Make sure your staff knows about these upcoming events and that they have ample time to prepare.
By being present in all the right places, you also start building up your personal brand in the area you want to be best known for, which makes candidates think of you when they are on the lookout for a new job.
2. Provide interview feedback.
Different candidates have different strengths, and you must know how to leverage their talents. You want to make sure candidates feel welcome when they interview with your company, whether or not they receive an offer.
If a candidate is turned down for employment, then having feedback will help the candidate improve their interviewing skills in case there are future opportunities at your company. This should be included on job applications so you can better keep track of what weaknesses need improvement. If you do provide this information, make sure it is kept confidential.
3. Use online applications.
Believe it or not, many are still using paper applications when asking people to apply for a job. The fact is that most people don’t fill out applications anymore. They’re too busy to take the time to fill out paper applications on top of submitting their resume online. If you still use paper applications, then you are missing out on qualified applicants.
Make sure that hiring managers have the option to review resumes electronically instead of handling stacks of paper application packets every day.
How can you turn applicants into employees?
1. Offer competitive compensation packages.
If there’s one thing people look for when looking for jobs, it’s competitive compensation packages. We all want to know that we’re getting paid fairly for our work, which is why money and benefits are so important during the hiring process. Make sure you’re offering a competitive salary when hiring new employees and promoting current employees if you want to recruit and retain top talent.
2. Offer employee benefits.
If your company offers impressive employee benefits, then you’ll have an easier time recruiting quality candidates.
Some of the top benefits include health insurance, dental insurance, life insurance, retirement plans, tuition reimbursement, remote work, and even other employee benefits.
3. Create targeted job ads.
Typically job ads attract people who are currently searching for jobs due to unemployment or underemployment–sometimes even through the help of a recruitment agency.
If you want to attract employees with a higher chance of staying on for the long term, target your hiring efforts by posting ads in places where your ideal prospects gather. For example, if you’re looking for programmers or engineers to work at your company, find out where they hang out online.
Maybe there’s a forum full of them discussing new trends in their fields, which makes it easy for you to post an ad there and get higher-quality applicants interested in what you’re offering.
How can you improve employee retention?
1. Invest in management training.
If your top management team is not properly qualified, then that could lead to an entirely new set of problems when it comes time to manage employees. Consider outsourcing management training so supervisors and directors have the tools they need to work with their teams effectively.
2. Support employee engagement.
If your employees feel engaged with the company, then they will be more likely to stay through difficult times and continue producing quality work. Consider making attendance at company-sponsored events a requirement when it comes to employee evaluations.
Alternatively, you can also incentivize your employees to attend and participate in these events by offering perks to those that do.
3. Address issues quickly and proactively.
It’s important to deal with issues quickly before they become a larger problem affecting everyone involved.
As soon as you notice an issue (and before it becomes white noise in your head), address it so that your team feels like they have someone on their side looking out for them.
4. Foster professional growth.
One of the best ways to improve employee retention is by fostering professional growth for your employees. Make sure you’re empowering them to learn new skills and that they have time to add unique value to the company.
Whether it’s giving them a chance to work on project management, promoting their business ideas, or pursue educational opportunities, you’ll find that these specific opportunities will keep your employees engaged and loyal for many years to come.
5. Create a sustainable mix of employees.
If you have a large number of unmotivated workers, then that could decrease productivity in those who are motivated.
If you have too small of a team where everyone has extensive experience working together, this could also cause morale issues in the future. When hiring, look for the right balance of passionate yet green people mixed with more senior and experienced people to make sure everyone is happy in their jobs.
This also provides opportunities to give mentorship roles to those that are more senior in their positions.
6. Be a role model.
Do you want your employees to be motivated? The best managers know that setting an example can help improve morale across the company.
If you lead by example, then your team will be more likely to follow suit and stay on board with your vision for the future.
It’s important to realize that employee retention starts with hiring the right people for each role. To retain and recruit top talent, you need to start by finding the right people for the job and creating an engaging work environment where they can succeed.
By following these tips, you’ll have a much better chance at improving employee retention and building an even stronger foundation for your company.