As an employer, there’s almost nothing more exciting than finding the perfect candidate for a job opening. And there’s almost nothing worse than losing that potential talent to a competitor.
When this happens—especially after you’ve given them an incredible offer—you may be left wondering how and where you went wrong. It seemed like a match made in heaven! But there may be things your company is (or isn’t) doing that’s driving away talent without you even realizing.
Here are four reasons you may lose potential talent to the competition:
1. Your company doesn’t offer work flex.
Almost as important to some employees as salary, flexible working conditions rank at the top of many job seekers’ must-have list nowadays. If your company doesn’t already have a flexible work policy in place, well, what are you waiting for? Chances are, some of your competitors might be flaunting their flex in job listings—and eager job candidates wanting work-life balance might choose their organization over yours.
With technology making it ever-easier for companies to incorporate some sort of flexibility into workers’ schedules, there’s never been a better time to embrace workplace flexibility and see how your company will reap the rewards, in employee attraction and retention, lower turnover rates (which are also costly), a more invested workforce, and the savings that come from having your team telecommute.
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2. Your company doesn’t have a strong company culture.
Much of today’s workforce isn’t just looking for a paycheck when it comes to their jobs—they’re looking for a purpose, too. That comes in the form of your company culture. It means that employees understand how integral the work that they do is not only to the company, but in a bigger-picture sense of the world at large. They want to feel connected to their coworkers (even if they work remotely), and feel as if management cares about them beyond their productivity.
So take time during the vetting and hiring process to explain the company’s culture to make sure it’s a fit for both you and the job candidate.
3. Your company has a poor reputation.
A job seeker who is potentially interested in working for your company might do a little pre-job interview online investigative digging. Do you know what they’ll find? If your company cares about its reputation, (and it should), it will work hard to ensure that people find only positive reviews. While you can’t control what people say, you can control the experience and interaction they have with your organization, from applying and working for your company.
Start by responding to job applications, and follow up with job candidates after interviews (even the ones who aren’t hired). Then, make a commitment to each worker to help bring out the best in them while they work for your company. In short, make your business personal, and your company reviews will reflect that attention to detail.
4. Your company doesn’t offer good benefits.
Companies looking to trim the fat from their expenses might turn to employee benefits as a way of saving money, but they shouldn’t. Bad benefits can detract top job candidates from even applying for positions, and it might cause you to lose your current talent to the competition as well. For the most part, employees want good medical and dental benefits, along with vacation time, raises, and 401K options. Be sure to list these in the job description, as they could entice top talent to submit their job applications.
If you find that you’re losing talent to the competition, or that you’re getting less-qualified candidates applying, turn an introspective eye to what your company might be doing wrong—and then make those necessary changes to build a workforce that is committed to your company.
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