Top Five Tips to Retain + Attract Top Talent
Almost all businesses are being affected at some level by the Great Resignation. In a recent 2021 study conducted by PWC, it has been shown that 65% of employees are looking for a new job. This is why it’s so important that you understand the essential elements to maintaining and attracting top talent for your business during this time.
Some of these essential elements include:
Top talent wants to know that they matter. Often, because top talent is doing their job well, we turn our attention to those that that are struggling or ruffling feathers. We ignore our top talent, and in order to retain them that paradigm needs to change. It’s in our nature to want to know that we are important and that we matter. If you ignore your top talent for too long, they will look for and go to an employer who will fill that human need for them.
Gone are the days you can post a job and the applicants will come. Today, we need to market the job, the business and its culture. We need to highlight this information in the job posting and include what is unique about the business and the benefits of the workplace. What makes your business different? Why would someone choose to work for your business versus another business with the same position? Are you in a highly sought-after location or city? If so, highlight those strengths.
It's important when interviewing applicants that you make sure they will fit into or add to your culture. I’m not suggesting that you hire someone just like you. Diversity of thought does bring strengths to the organization. However, if your organization is very regulated and structured, hiring someone who is creative and innovative will lead to that person feeling stifled, and in the long-term, they will not be happy. The same goes for someone who prefers or is used to a structured environment. In a startup or highly creative and innovative environment, they will feel lost due to the lack of structure.
No matter the type of company culture, there are things you can do to boost retention. According to the Harvard Business Review, one of those is investing in taking care of your employees and their families. The article advises businesses to provide mental health resources, acknowledge the personal sacrifices everyone has made during the pandemic, help parents with small children by providing or subsidizing daycare and more paid time off.
It’s highly likely that you have heard the saying that people don’t leave companies, they leave managers. While I don’t think that applies to every situation, there is definitely some truth to that. If you are in a leadership role, I cannot stress enough how important it is to develop a growth mindset and strong emotional intelligence. Having worked with numerous managers over my 20 years in HR, it’s my opinion that the bad leaders and managers lack these attributes.
Watch the entire “Top Five for Small Business: Attracting, Retaining and Keeping Employees Engaged in 2022” event below:
For more information on the Greater Des Moines Partnership’s Top Five series, visit the Business Resources page. While there, be sure to register for the next Top Five series. Learn more tricks on how to maximize the potential of your business through The Partnership’s through the Small Business Resources Hub.