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Talented individuals, who perform consistently well and are loyal to your business, are hard to find – and even harder to keep. For organisations of all sizes, the quest to find staff with the perfect skills is an ongoing concern, but after a candidate starts working for your business, retaining this talent is of equal importance.
As the pool of businesses looking to hire new employees becomes larger, competition for the best staff increases. Therefore, it is vital to take steps that will set your business apart from the rest. The best available talent will likely be considering a number of options when selecting their ideal role, with salary perhaps becoming less important than other perks and benefits, such as flexible hours and remote working.
For this reason, businesses must ensure they are taking steps to establish themselves as the stand out from competitors. We look closer at how businesses can attract the best talent below.
Offer generous salaries
Salary is becoming less important - particularly to younger candidates who value other benefits more than their wage - but it remains a leading factor. In many cases, pay remains the key motivator for employees, which means companies offering higher salaries are more likely to gain applications from a pool of the most talented candidates.
Employers, however, cannot simply assume that handing out high salaries will ensure their staff are loyal. Those employees valuing salary over every other factor are more likely to leave if they are given a better offer from somewhere else. This is why it is best for employers to view payment as a single part of an overall package.
Have a clear ‘mission’
Talented employees who truly care about the business they work for are more likely to feel motivated if they understand what the company stands for. This is where a mission and purpose comes in. The modern employee wants to know that the work they do matters, which is why a mission statement is a key factor in attracting individuals to the company itself. If the brand’s values match their own, they will automatically feel loyal to your business.
When creating a mission statement, you have to be genuine -- and it needs to be reviewed regularly to ensure the values reflect your current direction. Enlisting employees to engage with this concept is key, and it is vital that the mission statement is not simply filtered down from the top.
Be flexible with benefits
Your business is likely to be made up of individuals with a variety of hopes and aspirations. The modern workplace is eclectic, encompassing different ages, ethnicities, sexualities and personalities, each with their own set of values. For this reason, to assume that all employees will respond to the same benefits in the same way may not be the best approach.
Therefore, flexible and tailored benefit plans are recommended, and are a great way to attract talented individuals to your business. Using this approach, workers can choose the additional benefits best-suited to their desires -- this can be anything from company cars and gym memberships to increased salary contributions and childcare vouchers.
At the same time, perks such as flexible and remote working are growing increasingly popular. Such benefits are becoming more common, so if you are not offering either and a potential candidate’s current employer is doing so, they could opt to stay put rather than look for new opportunities.
Allow staff to progress
Very often, desirable candidates are career-focused and keen to progress, whatever role they are in. Therefore, offering progression opportunities is essential if you want these individuals to remain loyal to your organisation. In order to achieve this, businesses should ensure staff are able to discuss promotion opportunities regularly, and a clear pathway should be laid out in order for them to have something to aim for. Alongside this, it is essential that employees can see the additional benefits and rewards that will come with more responsibilities.
If your organisation does not offer this type of movement and flexibility, it is likely that some potential candidates could be deterred from applying.
While it is vitally important to ensure staff are happy internally, looking at the bigger picture is also an integral aspect of running a business. Getting involved with community outreach or donating regularly to charity can be incredibly powerful, and will show employees that the business cares about so much more than just revenue and profit. Employees respond well to employers that believe in causes bigger than themselves, and candidates will also respond well to this. Not to mention, giving back is a great thing to do.
When looking to hire the most talented staff, business leaders must ensure they adopt a view that does not only look inwards. Yes, benefits, progression and a mission statement are all incredibly important tools when ensuring staff are on the same page, but charitable donations and corporate social responsibility are vital in setting you apart from the competition. Those that successfully combine them all are most likely to stand out to candidates.
Sellick Partnership has 15 years' experience in helping businesses to recruit the most talented individuals. To discuss your current requirements, get in touch with us today by visiting our contact page. Or you can check out the rest of our employer resources here.