Human capital is any business’s most valuable resource, so attracting the highest quality candidates and retaining your most valuable staff is key to the success and growth of your organisation.
With the great resignation highlighting that many individuals are being more choosy about who they seek employment with, hiring managers may find it difficult to ensure they can find and keep the right people to fulfill positions.
While financial incentives have historically been one of the most common ways to attract the people you want to your company, many prospective employees are now seeking more than this. What are the best ways to go about attracting top talent, and are there many non-financial solutions?
Be Clear About Your Values & Mission
More and more people, especially highly-talented junior employees, are seeking workplaces that have a mission statement that aligns with their values and is transparent about their goals.
Be upfront about how employees will fit into the vision of the business and what they can contribute. This will show what they’re being valued for from the get-go. Highlighting any charity organisations or partnerships can also be a good way to show candidates that you put ideals into action.
Don’t Underestimate Company Culture
Showcasing your organisation’s values goes hand in hand with ensuring you are projecting and investing in the right company culture. Understand what your prospective employees are looking for in a workplace and aim to provide options that will facilitate the kind of work-life balance that is becoming increasingly important.
Changes like offering increased flexibility, additional days off and supportive mentorship programs are relatively small things that can significantly boost positive feelings towards your company culture.
Cross-team collaboration and regular training or team-building experiences are also effective ways to show you value the individual as well as the worker.
Encourage a Positive Environment
It has been well-documented that stress can have a detrimental effect on productivity, so creating a positive environment where employees have the room to be creative and learn new skills is essential.
A stressful or toxic workplace won’t breed good work or good ideas. Undertake regular employee satisfaction surveys to gauge how your employees feel about the working environment and discover how it can be improved.
Prioritising flexibility and positivity will not only make your organisation seem more attractive to new employees, but it will also help your current workforce manage burnout and make them more likely to stay in their current positions and grow with the company.
The opportunity for more flexible working hours and the ability to work from home is increasingly becoming the norm. If you don’t consider providing these kinds of incentives, you’ll end up alienating a significant portion of potential candidates.
Hybrid working allows employees more freedom while still ensuring teams can meet in person and work collaboratively.
Provide Opportunities for Growth
The people who are the best and brightest in their field are the ones who are most likely to seek more training opportunities and the space to develop new skills.
If you are not interested in the career development of your staff, it will become very clear to new employees who are eager to progress that you cannot provide them with what they need.
Be clear and upfront about your opportunities for growth so staff don’t become disillusioned and unfulfilled.
Building and implementing professional development schemes shows candidates that you are going to continue investing in them, providing a reciprocal partnership.
Good Interpersonal Relationships
Encourage line managers to build genuine relationships with their team (new and existing). Even as early as the interview process, developing a good rapport can help prospective employees establish whether you are a good fit for them.
Establishing this kind of relationship early on gives them a picture of the kind of working relationships and interpersonal values promoted by the company.
Involve Employees in Decision-Making
Employees that feel fulfilled in their roles are far more likely to stay at your organisation and continue strengthening their working relationships. One big fear that prospective employees have is that there’ll simply be another cog in the machine, leading to an unfilled worklife and dissatisfaction.
Involving your employees in decision-making processes and valuing what they have to say is a good way to show that they matter and make value contributes to the success of the business.
Utilise Social Media
Social media can be a valuable tool when it comes to advertising new positions and ensuring you’re connecting with the right people.
Making engaging social media posts will boost brand awareness and can also show a more human side to your organisation, giving you the opportunity to share content about company events or highlight what you do for your employees.
LinkedIn especially is a platform you should ensure you’re making good use of.
Be Loud About What Makes You Unique
Top talent will be seeking top employees, so consider what makes you such a desirable place to work and get that message out there.
Be clear about why people should want to work with you and what sets you ahead of other firms. If you build a strong reputation for being a great place to work, more people will talk about you and seek opportunities with you.
There are many internal changes and effective incentives you can provide to make your organisation more attractive to the most talented prospective employees, ultimately benefiting your company and bolstering your success.
As cost reduction consultants, we have worked with countless organisations to unearth new efficiencies and find areas of the business that could be improved. To find out how our expertise could support you, get in touch with the ERA team.