If you have been reading the news, you’ve likely read about the “Great Resignation,” aka the phenomenon that’s happening in today’s workforce as a reflection of our Global Pandemic. COVID-19 has given people the time and space to reflect on what they really want and need in a job, benefitting some companies greatly while leaving others to struggle with a declining workforce and trying to solve the problem of how to attract employees.
In an average year, the voluntary leave rate at a company is about 15%. Still, a study from Microsoft’s “2021 Work Trend Index” found that 40% of professionals are quietly considering leaving their jobs. This means if you’re a company looking to attract and retain top talent, you are most certainly not alone! The “Great Resignation’s” ripple effect is causing one of the tightest job markets we’ve seen in decades, which is why it’s critical to evaluate your company’s sales pitch, messaging and hiring strategy before you take the step of trying to attract employees.
It’s easy to do this exercise when it comes to your clients, but focusing on your marketing pitch as part of your recruiting strategy is often overlooked when selling future employees on the prospect of working with you. We coach our clients through the process of recruitment marketing daily because having compelling selling points is a critical part of attracting and retaining talented employees.
Think about it, if your Recruiter had a candidate on the phone right now, what could they say about your company that would make your ideal candidate genuinely excited to interview with you? In times like these, there is more to hiring strategy than a simple job description and salary range.
Recruiting Strategies: Money Isn’t Everything
The classic scenario that triggers the need to formulate a hiring strategy is an employee leaving their company for an opportunity with a higher salary, but it’s becoming more nuanced than that. In this new age, many employees have gotten a taste of working from home and flexing their schedules. We’re finding most candidates don’t want to give that up, especially now that they’ve discovered they can still achieve their objectives in the comfort of their own home. Finding a way to offer flexibility for your employees and developing that into your employer branding will be key to attracting and keeping great talent. We’re finding that compensation is important, but it isn’t everything in this new era.
A Culture of Self-Care as Part of Attracting and Retaining Top Talent
Conversations around mental health and self-care are also growing within benefits discourse and are increasingly becoming part of effective recruitment strategies and practices. Companies are starting to offer company-wide mental health days and stipends towards gym memberships, therapy, or continuing education endeavors as a means of attracting and retaining employees in a competitive world. Businesses are beginning to invest in more than just the up-front offer and recruitment strategies have also progressed to highlight these quality-of-life company perks. Companies may be surprised at the number of candidates turning down opportunities with bigger salaries for prospects with a diverse range of benefits. We’re ready to assist you with your hiring strategy for remote recruiting. To attract the most talented workers, companies need to be prepared to provide a working environment that allows employees to thrive in mind and body. The first step toward attracting and retaining top talent is a recruiting strategy that presents your company as more than just a place to earn a paycheck.
Recruitment and Retention Strategies that Prioritize Trust and Growth
Smaller businesses may not have the financial capacity to invest in the biggest trend benefits, but that doesn’t mean your culture can’t still reflect a core set of values that enables you to attract and retain talent. Work/life balance is becoming prized more than ever, so what can you do as a company and as part of your hiring strategy to show your employees and potential candidates that you trust them to do a great job, even if they are not in the office? How can your company encourage growth in your employees’ careers and in personal development? We’re finding that companies tackling these big questions are winning the race to attract and retain top talent.
As Recruiters, it’s our job to formulate effective recruitment strategies and practices to sell your company as a top place to work and to know the latest trends in the marketplace. At NW Recruiting Partners, we form a symbiotic relationship and true partnership with our clients that leads to recruitment ideas that are creative and well-suited to attracting and retaining employees in a competitive world. To attract the most talented workers, we’ll need to bring culture, values, and benefits to a talent acquisition strategy that makes your company a compelling sell in this competitive market. At the end of the day, if you remember that old Bonnie Raitt classic, is your hiring strategy giving your recruiting partner something to talk about?