Having Trouble Attracting Top Talent?

Unemployment is sitting at just 1.7% in the United States. As such, we can expect that the labor market will continue to be candidate driven in 2022. With the Great Resignation, many professionals took this opportunity to assess career satisfaction and have left the jobs that didn’t align with where they want to be personally and professionally. Some are seeking opportunity elsewhere and others changing fields or industries altogether. 

As companies struggle to address the labor shortage, focus is on attracting top talent amongst a sea of other options AND retaining the employees they already have. 

Attracting Top Talent: The Candidate Experience

HR, talent acquisition, and hiring managers must ensure that the process of applying for a job and interviewing are efficient and responsive. If you’re application is too lengthy and requires multiple steps, candidates are likely to move on. The interview process should be as streamlined as possible, as few stages as possible, and only what is truly needed to fully assess the candidates. Keep in mind, they likely have multiple opportunities, and will receive other offers. In addition, not providing feedback in a timely manner, and not swiftly moving to next steps will also hurt your chances of keeping that candidate engaged.

You also should replace your thinking of, ‘why should we hire you’, and instead think, ‘here’s why you’ll love working here’. Employers need to present a compelling value proposition. Competitive salaries are always near the top of the list of must-haves, yet many employers are not in touch with today’s market and where they need to be to stay competitive.

Benefit packages have evolved, too. Candidates want to see a comprehensive offering, one that includes services like mental health/counseling, weight loss/exercise programs, and even pet insurance.

Other benefits being offered are:

  • Remote or Hybrid options
  • Fertility/Family Leave Support
  • Legal Aid
  • Financial Planning
  • Profit Sharing
  • Education Reimbursement
  • Flexible work schedules
  • Student Loan Repayment
  • Sabbatical Opportunities
  • Professional Development

The option to work remote cannot be understated. Since leaving the office due to Covid-19, most employees do not want to go back, or at a minimum want a hybrid approach. I came across a survey on LinkedIn posted by The Female Lead. At the time of viewing, there were over 72k votes. Seventy percent of the responses were “NO” when asked if you would consider applying for a job that didn’t have remote working as an option. This is a trend that is not going away. Companies that are adapting will find more success with attracting and keeping their employees.

Retaining Top Talent: The Employee Experience

Having competitive compensation and robust benefits will help with retaining your employees, but it doesn’t stop there. They want to work at a company where leadership cares about them and their communities.

What makes employees want to stay?

  • Having the opportunity to participate in ongoing education, upskilling and re-skilling, and cross training.
  • Clear path for advancement, promotion from within.
  • Open and direct communication with leadership and colleagues.
  • Transparency with where we are now, where we are headed, and how we will get there.  
  • Respect in the workplace, achieved through encouraging individuality, creativity, collaboration, recognition, and valuing each employee’s individual contribution.
  • Opportunities to give back, volunteer, and provide service to others.
  • Encouraging work-life balance.

Bottom Line

Ultimately, keeping a pulse on the market and maintaining a candidate/employee centered approach will help your company remain competitive.  

Kim Rosenbohm

Kim is an Account Manager at Aureus Group. She started with the company in 2021 helping clients find talent for executive positions. She love meeting and getting to know new people, and in her enjoys football, golf, and spending time with her family.

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