Attracting and retaining top talent has become increasingly challenging over the past few years. Even during this pandemic, there is a reservation out there with candidates to move and this has caused many companies issues in attracting new talent. They say money makes the world go round, but for many candidates salary isn’t the only factor considered when accepting a job offer.
While incentives used to be limited to popular perks candidates are now looking for a wider range of benefits. With a limited talent pool in high demand, companies must affirm their commitment to providing an excellent candidate experience during the recruitment process as well as delivering on the promise of competitive and exciting benefits once a candidate is hired.
How you can Attract & Retain Top Talent in Your Company
- Offer a Competitive Salary package: Companies need to be in tune with what the general market is paying for their specific skillset. Lots of valuable time and resources can be spent on recruiting but if the salary is not in line with market value, all this can be a wasted exercise. Salaries will differ of course depending on location, but with remote working now the norm and the dreaded commute taken out of the equation, companies need to level the playing field in terms of salaries.
- Unique Benefits: Top talent wants more than a high salary. We are often asked what are the extra benefits? Something like a gym membership, educational assistance, or extra annual leave, is seen as a great perk and can often be the key deciding factor for candidates when choosing a new job.
- Create A Remote Workforce: This is the one question that is asked by many candidates – “Is remote working on offer with this company?”. The majority of employees/employers had to adapt to remote working quite quickly at the start of the pandemic. Remote working now needs to be in future plans of any employer as it is what a lot of candidates seek in a new position. Companies that offer a hybrid working environment are also seen as very attractive to candidates who want a healthier work/life balance.
- Offer Continuous Learning: Learning shouldn’t stop at the onboarding and induction stage. This should be a continuous part of the job to continually develop new employees’ skills and knowledge. The benefits with this are that the employee is being invested in and that there are opportunities to advance their career within the company. This will ensure new employees stay engaged and motivated to do well in their new role.
- Company Culture: Having the right company culture in a workplace can make all the difference when it comes to making a position more marketable for potential employees. Introducing smaller, softer perks like casual dress or giving employees the day off for their birthday is a great way to gradually change a company culture. These changes can often be hard to accept in workplaces with an engrained culture, but they can make a role significantly more attractive to candidates.
- Career Progression: The prospect of career progression is often fundamental in a candidate’s decision to accept a job offer, so it’s essential companies look to signpost all available opportunities for professional development when wanting to source top talent. Establishing training schemes that focus on increasing the hard and soft skillsets of employees is a great way to attract those candidates thinking about longer-term career development.
- Company/Brand Reputation: Building a strong employer brand is an important element in helping your organisation stand out from the crowd when competing and attracting the best talent. Strive to build a brand that is seen as the ‘employer of choice’ in your industry. Encourage the employees who can amplify your employer brand to share their experiences across social media and review sites.
These points are just a small part of the overarching picture of attracting best-in-class talent but beginning to incorporate these into your overall hiring strategy makes acquiring top talent is a much smoother process.
If attracting talent is not your only problem and you find that the recruitment process itself time-consuming and challenging, fear not. Matrix Recruitment is here to help you manage the whole recruitment process from raising a requisition to actually hiring the employee. Click here to get started by chatting with our expert Recruitment Consultants.