In the competition to find, hire, and keep the best, most talented workers, companies are looking for anything that will give them an edge.
While some recruitment and retention programs are fads that come and go, others actually can strengthen your organization’s efforts.
Here are a few initiatives that could provide the boost your business needs as you seek to attract and retain top talent:
Express your vision, and share it.
You’ve worked hard to create a positive company culture. You foster transparency within your organization and your employees know what your brand represents. They also know they can trust you to do the right thing for customers, employees, and the community.
If that’s the case, why not let people know about it? Make sure you communicate your vision to both employees and potential hires. Encourage workers to spread the news about you to their friends and family members. Be known for the right reasons, and your attempts at finding and keeping employees will get easier.
Embrace flexibility.
Everyone has heard by now how much millennials value work flex, but this is not a benefit that is valued by only one generation. Most of your employees would appreciate the opportunity to shift their hours, work from home, or otherwise explore flexible options.
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By creating a formal flex policy and implementing it fairly across your organization, you can show both potential hires and existing team members that you are committed to helping them build more balanced lives. Not only will that make your employees happier on the job and at home, but they’re also likely to be more productive. Everyone wins.
Promote career development.
When workers feel like their careers are stagnant, they are going to be unmotivated. Eventually, they will look for new opportunities that will allow them to grow. An article from Glassdoor says that career opportunities are the second-highest driver of employee retention, and some companies are getting creative in their efforts to promote worker development. For example, consulting firm PwC has found success with the Digital Fitness Assessment, an app that is devoted to continuing education.
“With it, employees are able to assess their competence in topics like artificial intelligence, data and analytics, automation and more, as well as engage with relevant learning assets—articles, video content, podcasts and online courses—for areas they need to develop further,” the Glassdoor article says. “And if you don’t continue to engage with learning assets like these, your Digital Fitness score will deteriorate after time, reflecting the need for current, lifelong learning.”
Focus on the greater good.
Many companies find that workers are attracted to organizations that have proven ethics and are a positive influence in their communities. JPMorgan Chase is one of those businesses. According to a TechRepublic article, the firm has two core programs. Code for Good is a student hackathon for building ideas to help real-world social good organizations address issues, and Force for Good is a volunteer program that works on production-ready projects.
Studies show that such programs can be helpful to recruitment and retention, the article says. “In a 2016 study, about three-quarters of millennials said they’d take a pay cut to work for a more ethical firm. Corporate responsibility continues to grow as a way to engage employees across industries as well.”
Recognize and reward success.
As a worker, nothing is more demotivating than completing excellent work on a difficult project only to be met with silence from management and co-workers. Yes, you were doing your job, but is it really too much trouble for your boss to express appreciation?
If you struggle with employee recognition, you’ll also face an uphill battle in your efforts to attract and keep workers. “Recent studies show that when employees feel undervalued and unappreciated, they look for other employment,” says a blog post from Select International. “They need to feel that their contributions to the business are important. But the feedback and praise must be sincere. Top talent is smart enough to know the difference between sincere appreciation and platitudes.”
Show you care.
Programs that support workers’ physical and emotional wellness are highly valued, as they demonstrate that a company cares about people as more than numbers on a spreadsheet. And you don’t need to create something elaborate for your plan to boost morale and retention.
A Forbes article says starting small can pay big dividends in time. “Survey your employees to find out what types of programs they are interested in. You don’t want to roll out initiatives that your employees won’t engage in. … If you have a budget for wellness, look to a wellness vendor to provide guidance, strategy, and implementation. An external partner can also go a long way in demonstrating to your employees that their data is safe and secure.”
Offer parental leave.
This is another item that falls into the “show you care” category, and it’s one that an increasing number of companies are implementing. That means your business probably needs to consider updating its leave policies just to stay in the game.
According to a recent SHRM benefits survey, paid maternity leave was offered by 35% of organizations in 2018, up from 30% last year. Paid time off for other parental leave options has also become more common, with paternity leave offered by 29%, compared to 24% in 2017, and adoption leave offered by 28% this year, compared to 23% the year before.
These are just a few of the options available to your company as you try to boost your success in recruitment and retention. The key in any program is to figure out what your employees and potential workers want, and then tailor your initiatives to meet those desires.
In this job-seeker’s market, you can’t afford to do nothing. Follow that path, and you’ll soon see your best and brightest walk out the door.
Photo Credit: bigstockphoto.com
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