Every smart organisation desires to be able to hire skilled and talented individuals and drive growth. However, right now, and moving forward, attracting talent requires far more than a job post. Hiring and retaining the best talent is as tough as it’s ever been, with projections indicating that the number of younger workers entering the labour market in the EU/US won’t be enough to replace those who are leaving. Soon workers in both the EU & US will be over the age of 55, while the 25-to-34 demographic will shrink terribly according to studies. So, how does a company move forward in this new brave and demanding world? We have broken the subject down into two central pillars.
The first part deals with the authentic character of the company. For example, if the company’s online (or offline) presence is outdated, or even worse – non-existent – then it sends a message to potential talent that this company just doesn’t value its brand nor is willing to invest in staying relevant. It (accurately) leads candidates to assume that a company who doesn’t take care of itself – doesn’t care much about its workforce either. For professionals, Brand-Care = Self-Respect! And studies do demonstrate that companies that care about their brand are far more caring towards employees and have more ideas on how to retain them. So this is point number one.
The second point is more technical, and deals with the best practices of Human Capital Retention and Recruiting. This practice is both strategic and technical and it involves transparency, modern recruitment platforms and modern recruitment processes. Great candidates are often well-positioned in their current companies. Those who are willing to explore a new position typically envisage more than just an increase in salary. Being successful at recruiting means actually reflecting on current employee retention and recruitment strategies and identifying novel ways to keep people happy. To sum it all up, please reflect on the the following ideas:
- Know thyself: A company’s mission and vision are the bed-stone of its commercial philosophy and success. Empower the company with a solid brand presence.
- Know what you need: Each company has unique talent requirements and therefore needs to know what it needs in order to target the most relevant fit.
- Tailor compensation: More money is not the answer. Ideally, a compensation and benefits package must include both tangible and intangible benefits.
- Stay flexible: Work is changing so flexi-timing and remote working options are game changers and therefore, very popular top talent choices.
- Workspace matters: Comfortable, practical and effective workspaces do wonders in bringing people together and giving them a chance to be the most productive.
- Invest in people: Focusing on employees and their development goes a long way in building trust, loyalty, retention and a positive word of mouth for the company.
The conclusion is this. A company that doesn’t maintain a solid brand appears to be in degrading mode. Companies have to capitalise on brand equity to stand out among a plethora of numerous competing job posts. They must also appreciate and actively care about human capital, promote positions transparently and find a balance between what the candidate wants and what the organisation can provide. The best way to recruit and retain the “best” people for your company is by looking for common ground that is cooperative and appreciated. There is a fine balance to achieve because the modern recruitment landscape is demanding. The key is to be creative, know the current landscape and be able to highlight your company’s uniqueness through its brand.