How to Hire and Retain the Best Talent

How to Hire and Retain the Best Talent

If you are waiting and a valuable worker or employee has left your company, then you have lost a productive member of your team. In order to solve this, you should identify and fix problems within your organization before you lose others.

Instead, touching base with workers about what motivates them while they are on staff is part of an important plan in gaining an edge in the tight talent market of today: employee retention and hiring them. As a business coaching and consulting firm, YMA Financial recommends the following:

Focus on Diversity

The lack of diversity in industries ranging from IT to finance is a hot-button problem over the last some years. However, those that make a diverse workforce a priority, by being more inclusive in hiring practices and reducing bias in the recruiting process can benefit from making a more diverse company culture, with workers bringing various insights and experiences to the table.

Recruit Via Social Media

As per Aberdeen Group, best-in-class companies are 32 percent more probable to engage candidates through social media. Moreover, 79 percent of candidates are using social media in their job search plans. Making a social media recruiting plan has made communicating with job candidates easy than ever as targeted talent pools may now be tapped by searching relevant hashtags or using industry interest groups.

Create A Remote Workforce

Working virtually continues to be a growing trend in the US. In the past 2 decades, the volume of employees who have worked minimum partially by telecommuting has quadrupled and now stands at 37 percent. This makes it possible to recruit from anywhere in the world, landing good candidates based on their skills, as opposed to those limited to a certain geographical location. Offering remote work aids to attract as well as retain top talent and boost employee satisfaction.

Offer Competitive Pay

After many years of economic recovery, following the Great Recession of 2008, there are relatively small raises in salary. However, as the talent pool shrinks, it puts extra power into the hands of job seekers, letting them request high paychecks in exchange for their in-demand skills and experience. To attract and retain top talent in any given industry, organizations need to make efforts to raise job salary when hiring.

Provide Unique Benefits

In order to stand out in the job market, companies must strive to provide high salaries. Everything from more paid time off, parental leave, and gym memberships may be a cost-efficient way for companies to contribute to worker satisfaction. By concentrating on employee appreciation via special benefits and perks, companies will find more success in retaining and attracting talent.

Change dull job postings into best job promotions

A job posting is the first glimpse a candidate gets into your company, making the 1st step in the hiring procedure the most necessary one. When the job postings will fall short, so does the quality of the applicants. If you do not maintain an attractive job description, potential talent begins looking elsewhere for good opportunities, leaving you with a pool of unqualified applicants.  But different components go into an enticing job listing that it may be difficult to make one on your own. Some software remedy this problem with its concise reports, which will let you make a data-driven decision about what to involve.

Streamline and simplify the process

It is no secret that a slow hiring process is a big deterrent to talent. A 2017 Career Arc survey found that 69 percent of job seekers say that response time is the worst part of the hiring process. While waiting for a response, promising candidates can get antsy and begin looking at other positions. The longer the hiring process, the more talent slips away into the competitors’ claws. In this day and age, it feels almost primitive to painstakingly sift via apps and keep track of who is who. Not to mention, these administrative tasks eat up a great chunk of your valuable time. An ATS solution streamlines the procedure by automatically ranking applicants as they come based on a set of predetermined criteria. Candidates whose applications do not meet the criteria are automatically removed from the pool, letting hiring teams concentrate on the top contenders.

Involve employees in recruiting.

Happy employees stay longer. They help you attract top talent by showing the good potential hires that they can be happy at your business.

Build an employee-focused culture.

Consider what you can provide employees. Workers value work-life balance. They appreciate it when you provide flexible work schedules, for example, employees praise career opportunities like on-the-job training and promotions.

Get out and meet people.

Meeting a potential hire in person is a great way to establish a fit between them and your company. But it may be even good if you meet them before they apply for a position. They’ll be more probably want to work with you in the future if they know the opportunity you offer in advance.

Connect online.

Social media is a better place for business professionals to search and to be found. You can utilize keywords like job titles on LinkedIn to find candidates with the experience and skills you need. Then you can contact them directly to see if they will be interested in working for you.

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