Attracting, engaging and retaining talent in 2020.
Salary and compensation might top the influencing chart on whether candidates join an organisation but a survey by glassdoor.co.uk found that candidates are looking for a lot more than just a good salary.
In fact, a recent study by YouGov found that maintaining a healthy work/life balance is key to both employee and organisational success. Furthermore, it discovered that those aged 25-34 are most likely to be unhappy with their work/life balance and that millennials prioritise work/life balance, fair pay and tangible routes to success when applying for jobs.
With this in mind, we look at 5 key points every business should consider when attracting and engaging top talent.
Candidates want to work at the best companies and key to attracting the best talent is creating a culture with which employees want to align. A company's culture is a representative of the shared attitudes, values and beliefs within an organisation and forms an essential part of a company's goals, structure and employee experience. It's important to recognise that everyone involved in a company plays a part in defining its culture and should be given the opportunity to contribute. Those who do not feel they have a part to play can disengage quickly.
EMPLOYER BRAND & REPUTATION
A strong employer brand can be a powerful tool in showcasing a company's vision, values and strategy when attracting, engaging and retaining the right talent. With social media revolutionising the way people search and apply for jobs, it's never been more important to create a stand out identity that sets you apart from the competition. It's also important to consider your online reputation. With channels such as Glass Door and other employee review sites, candidates have access to the voice of current and past employees regarding topics such as salaries, working environment as well as other insights.
HR Magazine says 'Your employer brand experience should start the moment a potential employee begins to interact with your company, and it should continue through the recruitment process, on-boarding and their entire tenure'.
PERKS & BENEFITS
These days, more people want a job that comes with benefits and perks. Millennials and generation Z workers, especially, are looking for jobs with clear career paths, flexibility, perks and benefits. According to Business Insider UK in order to attract the best talent, companies have to go the extra mile by offering extras their competitors don't. So, if your company offers flexible start and finish times or, perhaps, social and learning based perks it's important to make this known to potential candidates. Many workers will tolerate less pay if other perks and benefits fill in the gap, and potential employees are actively put off by companies who ignore important extras.
CAREER GROWTH AND PROFESSIONAL DEVELOPMENT
As your best resource, show potential and existing employees that you want to invest in them. In an article on professional development, Forbes.com states employees who are empowered to achieve in their day-to-day work and career development will challenge organisations to achieve rising standards.
REWARD & RECOGNISE
Employees want to know that they are appreciated and that if they put in the effort to produce great work, they will be rewarded. It doesn't always have to be monetary; recognising an individual's great work in front of their peers can show how much value you place on them and make them feel valued as a member of your organisation.
www.uk.businessinsider.co.uk, The 19 Best UK Perks and Benefits
www.hrmagazine.co.uk, Becoming an Employer of Choice
www.glassdoor.com, Top 20 Employee Benefits for 2017
www.forbes.com How Professional Development Helps Companies And Employees Succeed