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Why is Retaining Talent Just as Important as Attracting it?
Why is Retaining Talent Just as Important as Attracting it?
Nowadays, recruiting is just as much about retaining staff as it is about attracting them in the first place. Don’t fall into the trap of believing once you have hired a person, they will stay. Your company needs to have schemes and processes in place to provide care and support for your staff.
We have put together some ways to help you both retain and attract staff.
Why does the onboarding process matter?
The first two months of someone starting a job is the most important time, as it’s when most people leave if they’re unhappy. Therefore, it’s important you help them settle in, quickly addressing any problems or concerns they have. You want to identify a problem by the candidate bringing it up with you, rather than addressing something which has become too big to ignore. Make it clear from the beginning that there is a clear line of communication in the business, and that new recruits can voice concerns without fearing any consequences. You need to remember when hiring that the happiness of the company is about the people and their welfare not the reams of paperwork. Ensuring everyone is happy will make the company more attractive to possible employees while helping retain existing staff.
Why is it important to be flexible?
Today with new technologies and businesses out there, people don’t like companies who haven’t adapted or changed for 30 years. If the culture and feel of the business isn't right or modern, it'll be harder to attract talent against newly developed companies. To stay in the running against larger more established companies, you need to be flexible.
Remember, the success of your company and company culture is evident to potential candidates by your staff turnover, the lower the turnover the more productive and cultured your company tends to be.
Why is it important to portray a work life balance culture to retain talent?
More recently, it's evident that having a work life balance is very important, as there are many people who would choose the ability to work from home or having flexible hours over a higher salary. This shift in societal attitude is noticed in candidates interview questions, which are more about the ability to work from home then the amount they will be paid.
As you will all be well aware, with things moving online with software like Skype, Zoom and Google Teams, there is less need for people to be face to face in an office environment. So, people will also be attracted to jobs which allow them to work at home as well as in the office. It’s well worth using all the technology available to you, as many businesses don’t use it enough and it’s something future employees will look for in a tech company.
It’s evident that people who are happy and stay in their jobs the longest are those who have their work life balance right and have the ability to be flexible with their hours and workspace. Not all candidates look at the salary as the primary reason to apply for a job, the company culture and ability to be flexible with a healthy work life balance is equally if not more important.
Why is it important to keep up with your competitors?
It’s obviously important that you are constantly competing with your competitors. You need to understand whether the jobs and packages you offer are out of date, in line with the times or even ahead of the game. You should try and balance your salaries based on other companies, benchmarking against the rest of the market.
When promoting a job to a candidate, be realistic and don’t sell them the dream, give them the facts. Your candidate is more likely to leave if you promise them things you cannot see through. Don’t fabricate the truth. Try and establish a strong relationship with clients and candidates, so they trust you and know you have their best interests at heart. If a new employee trusts you and your company, they are more likely to stay and be a valued hard-working employee.
Stay Safe,
Team Affecto