Employee turnover is rampant in many industries with few companies understanding the importance of acquiring and retaining top talent. These days, the advantage lies with the employee and the employer has less power when it comes to job negotiations. To make your company great and get talent knocking at your door, you need to attract and retain great talent.
The first step is to ensure that you understand the future strategy of your company and what skills and values you need in an employee to get the job done. By giving a clear description of the work required and writing a compelling job offer you are more likely to attract the talent you want.
Secondly, the current potential employees are likely to have on average 11 jobs in their lifetime, so it is important to build trust and faithfulness within your company. You do this by acting upon the values which you have stated in your mission statement. If you go against what you say in your mission statement, then employees will quickly start to search for greener pastures. Employees want to be part of something that is great, so ensure that the employee is able to see how they play an important part of the bigger picture.
Thirdly, though monetary compensation is important, many employees also value company culture, work/life balance and the advancement opportunities that are available in the organisation. You can encourage your employees by offering further study opportunities to help improve their skills. You could also give them opportunities to work in different departments. If the employee feels that you are invested in their career growth, they are more likely to remain faithful.
Another aspect to consider is a speedy interviewing process. Many potential employees cite a lack of communication and long interviewing processes as reasons that they don’t take the job. By ensuring that all the relevant people are present at an interview, you will be able to shorten the interviewing process and ensure that talent is not nabbed by your competitors. You should also ensure that your new recruits share the values of your company as well as have the skills to do the job. Do not try to force a fit if there are aspects missing from the new recruit.
When you have hired the new talent, it is important that they begin to feel part of your corporation from the get go. You should ensure that they have a buddy or mentor who can guide them and advise them in the first 100 days of employment. Ensure that they have enough space to work independently without being micromanaged. You will be surprised with the ideas that employees can come up when they have been left to find their own solutions.
Go out and seek the talent. With a great company culture and awesome advancement opportunities, you are bound to attract and retain the excellent talent that is required to reach your epic business goals.
Proudly brought to you by the National Small Business Chamber (NSBC).