Encouraging business startups and supporting the running industries are some of the strategies government implement to speed up the recovery process – from the economic recession resulted from COVID 19.However, getting government support does not guarantee the success of any company. Business owners have to have adequate plans regarding operations.
Having the right know-how to attract and retain top talents is a primary factor to consider to facilitate your success. This article will discuss six tips for attracting and retaining top skills in 2020
Note that millions of skilled people are in the job hunt, but few have impeccable talents suitable for your company. Also, there are hundreds of companies, like yours, that are in dire need of limited skills. Therefore, you need to have a great approach to attract candidates with perfect talent away from your competitors. You may also consider getting staffing assistance from a top Portland temp agency.
Practical Tips for Attracting and Retaining Top Talents 2020
1. Build a Strong Culture and Reputation
Your company’s culture is vital for its success. And having a strong culture, which people admire, helps market your business effectively and attract and retain your employees.
While thousands of companies seek to employ the best talents, most job seekers tend to look for the company with a strong culture. According to statistics, more than 66% of job seekers apply to companies with a perfect culture. Further, the stats suggest that companies with impeccable culture experience more than 40% higher employee retention rate.
A company’s culture should not only be in writings. It is best to strive to put your core values into action. Note that top talent candidates recognize that their skills are in high demand and tend to be picky, and they conduct more profound research to realize your company’s reputation.
So, is your reputation accurate regarding what you say about your company?
Note that employees love being associated with a company with a good reputation,
2. Practise Internal Recruitment and Promotion
It isevident that COVID 19 impacted companies in different ways. In some companies, the corona virus’s effects resulted in changes in roles and the rise of new positions.
It is recommendable to fill open positions by promoting the best staff.
Promoting within your company encourages employees, thus discouraging their need to pursue new jobs and reduce turnover.
In addition to that, internal hiring helps attract potential candidates with ambitions to learn and develop their skills in other fields. It exhibits the benefits of working with you.
Recent research suggested that internal hire improves employee retention by over 80 percent. It also accelerates new hires by about 69%.
3. Offer Continuous Training
The current rapid evolvement in technology is leading to frequent changes in workplaces. And, employees need to be equipped with the new trend.This influences your employees’ performance and encourages and entices them to stick to your company.
Also, offering continuous training helps enhance your company’s image, which is vital in improving revenue. It is also essential in attracting potential candidates.
Recent research shows that most employees, especially millennial employees – those between the age of 22 to 37- switch jobs due to the lack of training and mentorship they would expect from their superiors.
4. Enhance Employee Experience
Employee experience is the primary determinant of retention rate your company will experience. It refers to the conditions your employees interact with while in the workplace.
Employee experience involves understanding, by business owners and management team, everything employees go through and maintaining a safe and conducive working environment.
Note that employee experience goes beyond employee engagement -Five main conditions define it;
- The relationship between employees, employers, and customers
- Demographic location of the workplace – remote or in office
- Employee roles,
- Workplace rules and policies and
- Working tools
With the current conditions, most job-hunt candidates are considering workers’ experience.
Stats show the more than 90% of employees consider employee experience more important than high pay. Companies, on the other hand, are investing more in their employees’ experience.
5. Offer Competitive Benefits
In today’s job market, candidates search for companies that offer more and unique benefits instead of high pay. On the other hand, companies strive to provide competitive paybacks such as paid off days and leaves, frequent breaks, gym, and fitness tools, among others, that effectively enhance employee satisfaction. Focusing on employee satisfaction will attract top talent and facilitate employee retention.
Tip: While offering other benefits, avoid stack ranking as it may increase your company’s employee turnover.
While aligning a strategic plan to succeed in your business, it is crucial to keep your staff in mind. Although hiring top talent is not overwhelming, as you can hire a Portland temp agency to assist you in the creative staffing process, attracting the best talent is not enough; retaining them is equally important. The discussed tips will enable you to improve the retention rate and increase productivity.