There are well-publicised skills shortages in a growing range of sectors, and staying competitive can hinge on your ability to reduce ‘staff churn’, especially as recruiting can be a costly and time-consuming endeavour!
This makes it even more important to know how to attract and retain great talent in your business.
Corporate culture matters
Not everyone is motivated entirely by money. The work environment you create can be key to holding on to staff and attracting new recruits.
It’s common sense really – job satisfaction and a positive culture make people happy, and happy people are more productive and loyal!
This involves investing in creating an inclusive and nurturing business culture, including recognising and respecting employee work-life balance and using ‘emotional intelligence' in your leadership team.
You could also include adaptable work arrangements in this point about how to attract and retain great talent in your business. You may need to offer remote, hybrid or flexi-time work arrangements to keep your in-house skill levels buoyant.
Recognising and rewarding
This goes hand in hand with the above point. Lack of appreciation is one of the biggest threats to job satisfaction and loyalty in your organisation.
It’s vital to strategically and regularly thank your team for their contributions, and motivate them to continue to give their best. This must take the form of feedback from management, but it could also include a significant rewards system.
Positivity and improvement
This too links with the above points, as the best way to retain and attract talent is to encourage and recognise improvement. The opposite of this is a blame and shame culture!
When your team feel supported to come to line managers with problems and missteps, issues can be nipped in the bud far quicker. Also, innovation and good ideas for everyday improvements come from staff who feel comfortable bringing their opinions and experiences to their superiors.
You could say this is all about constructive listening by your management team.
To achieve the above staff recruitment and retention ideas, you clearly need excellent communications in your organisation. These days, business communications need to go four ways rather than two: up, down, sideways and out!
There should be plenty of opportunities for remote workers, different departments, managers and their teams to communicate and collaborate freely.
Development and how attract and retain great talent in your business
Finally, everyone likes to know where they are going!
One post-pandemic recruitment survey referenced in Forbes reported that 80% of people considering a career change were motivated by lack of prospects for career progress.
This simply involves creating clear job specs, helping your team understand both their existing role and responsibilities and demonstrating how you intend to develop them professionally.
It all adds up to a motivated and loyal team, and an attractive prospect for job applicants.