This post was updated in April, 2020
Attracting and retaining top talent has been one of the major priorities in Human Resources for years now. As the market gets more and more competitive, it is our job to come up with original and successful strategies to attract that talent. If your organization’s recruitment strategies haven’t changed in the past few years, then it is time to consider doing so. Here’s why.
According to Engage for Success,
Even with high unemployment, talent is still hard to recruit. 60% of North American companies are having trouble attracting employees with critical skills.
Talent shortages and mismatches are impacting profitability now. One in four CEOs said they were unable to pursue a market opportunity or have had to cancel or delay a strategic initiative because of talent challenges. One in three is concerned that skill shortages will impact their company’s ability to innovate effectively. Skill shortages are seen as a top threat to business expansion.
Discontented employees are starting to look elsewhere. In a survey by Global Business Consulting Firm Right Management, 84 percent of the employees polled said they plan to look for a new position that year. An American Psychological Association survey found that half of all employees who do not feel “valued” at work, intend to bolt.
As an HR professional, you don’t want your company to be part of these statistics, so it is time to make a change if you haven’t already done so.
Culture is Everything
Millennials want to work for companies that have a great culture. Good company culture helps people feel more motivated in the workplace, which in return can help increase performance. When a person is looking for a job, they scour the company’s website to see what their culture is like.
If the company’s culture is not what they are looking for, then they will most likely go to the next business. Your company culture should embrace creative and innovative work. It should accept all ideas and encourage employees to speak their minds freely. What’s more, having a great company culture can help boost your brand and improve your reputation. Need some ideas on how to improve your company culture? Read my blog “Fun & Creative Ways to Build Your Team and Improve Your Company Culture”.
Be Generous with the Perks & Benefits You Offer
This correlates directly with your company culture. In order to attract top talent, you must be able to offer perks and benefits that are different than what the competition is offering. This means that you will have to research your target audience and offer perks and benefits that are attractive to them.
For example, if your goal is to hire millennials, then you will need to get creative and offer perks such as discounts, paid time off, etc. Most companies are starting to offer perks like free lunches, unlimited paid time off (PTO), on-site daycare, paid parental leave, paid volunteer time, travel stipend, student loan reimbursements, and much more. Depending on your budget, there are many creative perks you can offer. Older generations think all millennials are looking to work in young offices that have ping-pong tables and fancy leather couches. However, most millennials will choose to work for a company that offers more time off over shallow perks like games and open-offices.
Tailor Your Recruiting Strategies to Your Target Audience
This means that in order for your hiring process to be successful, you need to use the right channels and language in order to target the right audience. For example, if you are trying to hire millennials then you should be sure to have your job posting on mobile apps since millennials use their mobile devices more often than a desktop.
Some companies have even shifted their recruiting focus to social media. UPS has done a great job with this. Since they were focusing on being more diverse, they made a video that shows women in different roles within the company. This shows that UPS researched their audience and repositioned their recruiting process in a language and channel that would be right for their audience. Needless to say, their process was successful.
Be Flexible - Encourage Work-Life Balance
Work-life balance is one of the most important things for everyone. Not only are employees interested in flexible work hours, but they also care about having a life outside the workplace. Twenty-eight percent of employees say flexibility is a reason to stay with a current job or take a new one, and that percentage is even higher among millennials (32 percent) and women (31 percent). What’s more, studies show that employees report that they are more productive and more engaged in their work when they are able to balance the demands of work with other aspects of their lives. With flexible work schedules, employees are able to experience these benefits:
Flexibility to meet family needs, personal obligations, and life responsibilities conveniently.
Reduced consumption of employee commuting time and fuel costs.
Reduces employee burnout due to overload. Flexibility means employees can take a break when they need it without incurring the wrath of a boss.
It allows people to work when they accomplish the most, feel fresh, and enjoy working. (eg. morning person vs. night person).
Remember, it is your job to help your company stand out in a competitive market. Improving your culture, offering creative perks and benefits, tailoring your recruiting strategies to the right audience, and being flexible is just a start. There are many other recruiting strategies that can aid your hiring process, you just have to be creative. Keep in mind that in order to streamline your process, you should invest in a good Applicant Tracking System. To see how Dominion's Applicant Tracking System can help your business, request a demo below!