If your business isn’t able to attract top talent, it won’t stay competitive in the long run. When it comes to employee retention, company culture is often cited as the key to keeping workers on board and happy.
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When it comes to employee retention, company culture is often cited as the key to keeping workers on board and happy. But company culture can be difficult to build if you don’t have talented employees to start with. It doesn’t matter how many ping pong tables you install in the break room or how many free lunches you offer; if your business isn’t able to attract top talent, it won’t stay competitive in the long run.
Retaining Talented Employees
You may have spent months or even years searching for top talent—from job boards, recruiting agencies, social media. Finding great employees doesn’t always mean you’ll be able to keep them, though. It’s vital that you understand what it takes to attract and retain talented employees in order to ensure your business continues moving forward. Consider these key factors:
Give your employees autonomy. Autonomy encourages employee creativity, which leads to new ideas and innovations; without sufficient levels of creativity among your staff, how can you possibly hope to differentiate from competitors? Remember: Employees love the freedom of choice! If they don’t feel they have it, they will leave. If you want to improve engagement and retention rates at your company, give your employees more autonomy over their daily tasks.
Offer a competitive salary package. This should go without saying but you need a competitive salary package if you expect to attract and retain top-level talent. While too much emphasis is often placed on pay as an element of attracting top performers, don’t underestimate its value. Consider these four questions when evaluating compensation packages: What do I pay my most valuable performers? What does everyone else in my industry pay? Is there any way I can outbid other companies with more money? How much money am I paying my least productive workers relative to those who bring home bigger profits for me?
Provide opportunities for growth and career development. Providing opportunities for growth might not seem like a perk at first, but it is one of the biggest reasons people stay loyal to an employer. In fact, according to research by Deloitte’s Center for Human Capital, 71% of workers said they would take less money elsewhere if they were offered career advancement opportunities where they worked (in addition to a higher paycheck). Gaining skills and knowledge builds professional confidence while deepening ties between employees and employers.
Finding Talented Employees
Hiring is one of the most crucial—and difficult—aspects of running a business. You’ll make not only yourself better at your job, but also other employees around you. As motivation goes up, so does productivity! Who wouldn’t benefit from more efficient processes, more effective teams, and higher quality deliverables?
If you want to find talented employees, these tips can help:
Focus on Culture: It doesn’t matter if you’re hiring interns or full-time workers; it takes some effort to attract talent. The best place to start? Look for candidates that have similar values and goals as your company culture. Creating a cohesive team will ensure everyone feels like they belong at your company.
Create an Environment Where Employees Can Thrive: Are your employees engaged in their work? Does every employee feel valued by management and colleagues? What about incentives for hard work? These questions might seem silly, but cultivating a positive environment will go a long way toward getting (and keeping) top talent.
Emphasize Long-Term Goals: Finding top talent is only part of retaining them. Most people won’t stay at jobs they hate forever; but with enough job, dissatisfaction comes an interest in looking elsewhere (maybe even elsewhere in your own office). Knowing what long-term goals drive each person working under you can help create an environment where meaningful professional development opportunities exist.
Attracting Talented Employees
Attracting talent: Think of ways you can brand your business as a fun place to work. Start blogging and speaking at local meetups so people get to know who you are! If possible, give employees time off (or generous paid time off) when they reach milestones with their families — such as birthdays or holidays — so they feel they’re part of something bigger than just their jobs. Retaining talent: Offer performance-based bonuses along with traditional year-end reviews.
If you want to find talented employees, these tips can help:
Offer competitive salary – If you want talented employees, you have to pay for them. That’s why it’s so important for companies to be competitive when it comes to salary—both in terms of what they offer new hires and what they offer their current staff.
Invest in training – It’s one thing to hire a talented person; it’s another thing entirely if that person isn’t equipped with everything they need to succeed at your company. One way to attract top talent is by offering training opportunities that will help keep your team well-rounded and ready for any situation.
Communicate – You can’t retain talent if you don’t communicate effectively with your employees. Building relationships is key when building a company, which is why communicating face-to-face with your employees (either as part of an office or virtual team) allows you to understand where people are coming from. Not only does communication help build trust within an organization, but it also helps those outside your organization understand who you are. This leads to word-of-mouth recommendations that can help attract quality candidates down the road.
Hiring Talented Employees
If you want to find talented employees, these tips can help:
List what you need. For example, if you need a developer who can create mobile apps, make a list of criteria for finding that person. These may include skills like Swift or knowledge of Xcode.
Find where to look. Are there lists of resources where you can find potential candidates? Do you know other developers who might recommend someone? What about community events where developers are active?
Communicate your needs. Put yourself out there in forums, on social media, and in any other places where it makes sense for your business. Describe what you’re looking for and emphasize how great it is to work at your company. This will help you attract talent!
Keep in mind, for any business to thrive, it’s important to attract and retain the best talent available to you. Not only does great talent help your business grow, but it ensures that your business remains relevant and innovative over time, so you can stay ahead of the competition and continue getting new customers.
