5 Tips for Attracting the Best Talent
Even at the current unemployment rate, companies are always looking for the best talent. When looking for employees, a company needs to make sure that the candidates are a good fit for not only the position they are being hired for, but to the company as a whole. A recent U.S. Department of Labor statistic, states that a “bad hire” can cost a company up to 30% of the employee’s annual salary. This statistic doesn’t include the additional damage that a “bad hire” can have on employee morale, community relations and customer satisfaction. So what can a company do to save the cost of a “bad hire” and attract the best talent?
Try these proven tips:
- Develop a great company culture – Work is called work for a reason. It is a job with expected hours and outcomes. That being said, work doesn’t have to be something that employees dread. If you don’t already have a thriving, positive company culture, develop one. You can start small with perks like free snacks in the break room, or hosting social sessions in the office every Friday. Make your environment a place that people want to come to. You can brighten up the work place with a fresh coat of paint or artwork. Remember the line from the movie Field of Dreams; “If you build it they will come”? Build a great work environment and people will come to your doors to work for you.
- Have a great story – Every company has a story. From how they began, to what they believe in, to where they are today. Define your story and set yourself apart from the competition. We all know the story of how Bill Gates and Steve Jobs got their start. While the story of your company may not be as unique as theirs, the story is still there. Develop it, write it and communicate it out. Employees want to be a part of something bigger than they are. Tell them how they can achieve their goals by working in your company.
- Get Social – Today’s job seekers are using social media and social media connections when looking for career opportunities. Make sure that your company has a social media presence. The type of business will define the appropriate social media platform a company should use to spread their word. By creating a thriving online community of fans and followers, you can multiply your reach exponentially.
- Invest in Managers – When an employee voluntarily leaves a position, it is most likely due to their manager and not the company as a whole. A company can hire the best talent, but if that talent is managed ineffectively, the company loses. Invest in developing and training your managers to be effective. This should be an ongoing development program that is mandatory for all managers. In addition, any inept manager needs to be removed. Top talent is more likely to see a bad manager coming from a mile away. They won’t stick around or be drawn to a company with poor management.
- Incent your current employees – Your current workforce is one of the best ways to attract other employees. They have firsthand knowledge of your company, benefits, perks and other advantages. They also know other top performers through their personal and social networks. Why not reward them for bringing in new employees? Create an incentive plan for recommending candidates for open positions. This program can be based upon the candidate interviewing, being hired or being in position for a certain number of months.
The competition for top performers is only going to increase in the future. Companies need to set themselves apart from the rest of the pack to attract, hire and retain top performers. By following the tips above, a company can create a productive, engaged workforce and avoid the cost of negativity, low morale that a bad hire can bring into an organization.
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About Michelle Benjamin
With more than two decades of operational and management experience, Michelle Benjamin has developed a talent management process to save businesses up to 35% off their labor budgets. Her system integrates talent, technology, and processes to convert businesses with bloated labor inefficiencies to companies that are sleeker, results-driven, strategically focused organization. As an entrepreneur who…