How to Find and Retain Top Talent With Effective Talent Solutions

July 15, 2023

 

In addition to promising cushy perks, companies must offer a clear career path, adequate training management, and a supportive company culture. This will help keep the talent you have and attract new employees.

Total talent solutions streamline the hiring process and provide a pool of pre-vetted candidates. This reduces the time to fill and saves money on advertising, sourcing, sifting through applicants, and screening.

Pay

Keeping your top employees requires more than just offering competitive pay. Several other factors can make your company more attractive, including flexible schedule options, tuition reimbursement programs, and student loan repayment assistance.

Employee wellness programs are also essential to attract and retain talent. Studies show that happy and healthy employees perform better, which boosts morale and increases productivity. These programs can be as simple as fitness classes or as complex as stress management workshops.

Providing these benefits may seem expensive, but attrition costs can be even more costly. According to Work Institute, it can cost an average of $15K per salary departure for a salaried position, not counting the time lost in recruiting and training new staff. Fortunately, a total talent solution can streamline and manage the entire process for you. This includes advertising, sifting through applications, and screening candidates. It also offers a central hub for connecting employers with potential candidates.

Training

Training to help employees achieve their goals is another way companies can boost employee retention. Whether it’s training on new software or on how to offer compassionate healthcare, giving your employees the tools they need to do their jobs well can be a significant motivating factor.

Employee turnover can be expensive, especially for small businesses. When an employee leaves, your company loses the profits of their salary, the cost to fill the open position, and the time it takes to train a replacement. Ultimately, it’s best to keep your top talent happy and engaged by giving them the opportunities they need to succeed.

Total talent solutions provide thought leadership, resources, models, tools, and counsel to HR teams and business stakeholders on implementing the most effective talent management practices. It combines various talent sources to find suitable candidates, evaluates talent shortages and an organization’s hiring needs, then helps create a talent strategy to improve engagement, retention, and performance.

Benefits

Top talent often brings fresh ideas and perspectives, increasing productivity and enhancing company morale. They also speak highly of your company, drawing in more talented recruits.

Keeping top talent happy can be expensive, but the payoff is worth it. Make sure to treat your team members like actual assets and offer them benefits that are important to them.

Finding and attracting top talent can take time and effort, especially with the current low unemployment rate. Use effective recruiting strategies and be prepared to interview multiple candidates quickly. If you find an outstanding candidate, be ready to make a firm offer. Nurture their development and help them achieve their full potential. Also, be prepared to move on from C players if they’re not performing up to expectations; they may leave your company for better opportunities. Building talent communities allows you to access pre-vetted candidates with the skills, education, and experience necessary for a role.

Work Environment

Creating a positive work environment is crucial to attracting and retaining top talent. A positive work environment also benefits a company’s bottom line. According to a study by Ceridian, employees who are satisfied with their jobs are 84% more likely to be loyal and stay with their employer.

A great way to improve a company’s work environment is by providing employees with growth opportunities. Growth opportunities allow employees to advance their careers and increase satisfaction and productivity.

High-performing employees are driven risk-takers that put their professional goals ahead of everything else. These high achievers want to feel like they are part of the team and need a clear career direction. Incorporate a clear career path into your organizational culture, and your A players will stick around. In contrast, C players are a drag on your organization and should be decisively coached out. A total talent solution offers the flexibility to find suitable candidates for your business, whether you need permanent, contract-to-hire, or freelance employees.

 

 

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