How to Attract and Retain Top Talent

How to Attract and Retain Top Talent

Every company wants to be able to attract and retain talent. Well, with rising opportunities and talent crunch, recruiters constantly find themselves in a challenging place when it comes to hiring the right candidate. 

74% of managers admit that they have hired the wrong candidate for the job. While there are many possible causes for this, failure to streamline the process could be a prominent reason. Only if you are crystal clear about what you’re looking for at each step will you end up hiring the right candidate. A wrong hire will cost you time and money. 

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Fortunately, with technology, the process has now become easier to streamline. You can learn more about data-driven recruitment to know how software can make hiring more efficient. Instead of relying on your gut while hiring, you should rely on data to make the decision. 

Using data-driven recruitment is one way to streamline and make the hiring process more efficient. It will surely help you eliminate more candidates unsuitable for the job. However, it won’t exactly help attract and retain top talent. So, let's look at a few ways to achieve that. 

7 ways to attract and retain top talent 

From using content to posting advertisements on social media, there are many ways to attract the right candidate. You can use any or all listed below and see what works for you! 

1. Provide flexibility 

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It’s time to rethink the traditional 9-5 corporate job setting. Millennial and Gen Z employees prefer having more control over their schedules. 

Consider the following points to understand whether a fixed time schedule can be avoided:

  • Does the job require the employee to be present during specific hours? 
  • Does the job require the employee to work from the office? 
  • Is there a need for a specific reporting time?

The answers will differ for every job role. For example, if your company has a team of writers: consider letting them work from home, or a fixed number of hours anytime during the day. This gives them the liberty to choose their own time when they feel the most productive and are likely to perform better.

2. Promote wellness 

Needless to say, you wouldn’t expect an employee to prioritize work over their health. A happy and healthy employee is more likely to be more productive. You can promote wellness by organizing health-related programs. Ideas for this include meditation camps, creating fitness groups or giving them ‘mental health leave’. 

Remember, health is a holistic concept. So you need to take into account physical and mental well-being while designing these kinds of programs. 

3. Provide growth opportunities 

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A candidate will be prompted to join you only if they see potential growth in your firm – personally and professionally. There are a few ways to let them know about how you can provide them with growth opportunities. Let’s look at some of the ways to achieve the same:

  • Offer internships 

This is a good idea especially if you own a small business. If you are on a hunt for interns, you need to be sure to offer them paid internships. This shows that you value what they bring to the table and are also interested in their financial growth. Providing paid internships to young recruits means you’re investing in the future of your company. 

Once the internship period ends, you can consider turning the intern into a full-time employee. 

  • Provide professional training 

If you are a small business or an established one, providing training to each employee reflects your interest in your employees’ growth. Investing in training programs will attract more candidates since they will find it easier to trust a company that has a training program specifically designed for them. 

The training should include hard skills and soft skills training for the overall development of the employee. 

4. Have a strong company mission 

The kind of candidates you attract also largely depends on your mission statement. This is true whether you are a small firm or a huge agency. If your vision as a company lacks clarity, you risk attracting the same type of pool – candidates who don’t know what they want. So, before hitting send for that hiring post on social media, recheck if your company mission and vision are bold and clear. 

If you have a sharp focus as a company, you will attract talent with a clear focus. You also need to tailor your posts, keeping your target audience in mind. For instance, if you aim to bulk hire junior talent, the language of the post should be quirky so it appeals to a younger audience. 

Similarly, if you hope to hire experienced employees, the post should emphasize experience. Also, it should sound as professional as possible. 

Having a strong company vision is not enough. It should also be conveyed effectively. The presentation and intention both matter. 

5. Strategically deploy content via social media 

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You can benefit a lot from social media by using platforms to share content and increase engagement. 

  • Use LinkedIn 

With over 810 million members across the globe, LinkedIn is one of the most-used platforms, especially for young professionals. Create a LinkedIn post with the intention of gaining leads. 

  • Use video content 

Video content has not gone out of style. Be it on Instagram or Facebook, videos continue to be one of the best ways to attract attention. You should be familiar with the latest trends and create videos that resonate with your target audience. 

You can surely get leads through smart video marketing, especially when targeting young talent. Be sure to make quirky and fun content when appropriate. 

6. Convey constructive feedback to employees 

Employees look for growth when choosing a company - and growth demands continual analysis and feedback. 

Hence, if you want your employees to grow, you need to have an effective way of analyzing their performance and conveying what needs to be improved.

How you convey this information makes all the difference. There is a difference between criticizing someone's work and giving constructive feedback. 

To make the feedback process meaningful and less tedious, you can use online employee performance review software. This will let you customize everything from reviewing templates to setting up timelines. You can simply create a review template that you can use again and again.  

7. Create a Corporate Social Responsibility (CSR) strategy 

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You can create a great CSR strategy to improve your brand image and retain top talent. Depending on your business goals, you need to decide which type of CSR strategy to go for. The four options are environmental, philanthropic, ethical, and economic responsibility.

Wouldn't you have more trust in a brand associated with a social volunteering program? Doing so will also improve employee engagement and, by extension, employee retention. 

How to attract and retain top talent: Wrapping up 

Hiring is the most crucial step as it decides the future of your company. If you hire the right person for the job, it will directly impact your company's output.  

However, hiring is just half the battle. You want to both attract AND retain top talent. Every company wants to reduce employee turnover since a new hire costs time and money. Following the strategies outlined in this article will certainly help save both.   

Author Bio: 

Parita Pandya is an engineer turned writer. She usually finds herself writing for businesses.  When she is not writing, she is either strumming her guitar or penning her thoughts on paritapandya.com.

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