Attracting top talent is a hot issue for any company. Coupled with the new normal that this pandemic has crated, businesses are grappling to even retain their current employees. Losing out on employees can amount to a loss of 21% of the employee's salary for the company. The following tips can help you retain- maybe even attract- the top talent working in the industry.
Your Current Employees are the Pillars to Drive Recruiting Success
The top tier of talent is concerned with the image your company projects, the culture that it fosters, and the experience of your employees. In between a pandemic, it is tough to recruit new employees, thereby the retention of current employees is increasingly becoming a marker for success. Satisfied and excited employees will spread the good reputation of your company outside. 30% of new employees join a company through word-of-mouth, even if there is no official referral policy in place.
Employee-voted awards are also a great signifier of great retention and employee satisfaction. There are awards that allow employees to anonymously vote in different categories. Nominate your company for these awards to find out whether your performance matches your ideal.
Most importantly, communication- or the lack of it- is a source of frustration for many employees. The inability to hold open and transparent dialogue with the leadership will eventually lead to the employees quitting the company. This failure on the company's part would mean that top talent would be wary of joining the company. Thus, it becomes important for companies to have open channels for communication.
Offer the Best Benefits to Your Employees
Today, companies are generously providing additional benefits and perks to their employees. However, one must also understand that benefits don't only mean sick leave and paid time off. To increase the loyalty of employees towards the company, think of additional benefits such as sabbaticals when employees complete important milestones.
The well-being of employees is essential to ensure the smooth functioning of the company. One of the perks your company can offer is sessions with certified psychologists, wherein employees can deal with work or non-work induced stress.
As Covid-19 becomes our reality, many companies are looking forward to opening their offices in the near future. While some employees are ready to join, many others are apprehensive and correctly so. Now is the perfect time to have open communication with employees regarding working conditions. They can be given the option to continue working from home but if they have to come to the office- even once or twice a week- ensure that proper protocols for social distancing are followed.
Investing in your current talent through paid classes, webinars, and courses, is another benefit that can retain existing employees and attract top talent in search of professional growth.
Workplace Cultures Have to Move Beyond Workplace Lunches
Though multiple perks, in the form of picnics, team lunches, and pool tables are appreciated by all employees, when it comes to true markers of culture, work-life balance is the number one priority. In the time of a global pandemic especially, as the distinction between home and office is blurred, flexible work schedules are becoming increasingly important.
The social impact of your company matters to the top talent, as they are looking for reasons beyond a handsome paycheck to join a company. Social drives that focus on giving back to the community are thus, extremely important. Host charity drives, match donation amounts, or volunteer for community programs such as environmental impact assessments, ensuring that your company is taking meaningful action.
Lastly, it is imperative to give employees the platform to appreciate each other. While in office recognition can come in the form of awards or employee-of-the-month honors, virtual office space has to think outside the box. Ask employees to give ideas to HR, so that they can feel more involved in the process. A simple shoutout at the beginning of virtual meetings is a good place to start.
The Bottom Line
The right talent can make or break any company. Employees who are the right fit for your company culture are essential to the company. Hiring and retaining the correct people will be an investment in the company and in the future, be your greatest marketing tool.<< back to Content