The Art and Science of Attracting and Retaining Talent
It’s no secret that the pandemic changed the way the world now works, along with triggering the “Great Resignation.” Since 2020 companies have seen a record number of resignations in the U.S. and employers are still struggling to both acquire and retain staff.
Even though employment is creeping upwards, recent statistics show that there are more job openings than there are unemployed workers. Specifically, there are 1.9 jobs available for every unemployed worker.
With such huge demand and competition, employers must be strategic in how they attract and retain talent. That means adapting an art and science mentality to find the right fit for your company.
For example: a company that assembles merchandise will need highly skilled and efficient employees who will stay with them as long as possible to meet tight deadlines. So how do you find these workers? You’ll want to invest in various methods and technologies.
First, you’ll want to determine the best outlets for job postings, from Monster to Craigslist to social media, to find these specific workers. This means harnessing reporting and measuring technologies that look at geography as well as players in that market that have done a good job or stayed for a long time at their previous job. Another method is personality indexing, where you use testing to pinpoint the personalities of your current top performers so that you can find other people with similar profile qualities and skills that match your job openings.
It also comes down to using the best wording and detailed job descriptions on the ad, as well as the speed with which you reply to the applicant. The wording should clearly state who you are as a company. Lay out your intrinsic company culture and values to draw in potential employees who connect with or are attracted to the company’s ethos. And of course, compensation is always top of mind and employers should be transparent about the open position’s salary as well as offer a competitive rate.
The response, whether scheduling a call or interview, needs to be instantaneous, otherwise you’ll lose the potential employee to another company. Bottom line: candidates are moving fast, and you’ll need to move faster. Once you’ve pinpointed top candidates, human interaction is key. Potential employees want a face‑to‑face connection, and to see how a company treats it employees. This is another area that technology can replace utilizing technologies like Zoom or VIBA CONNECT.
Another key to enticing employees to join your company is to lay out a career path in the beginning, so they’ll know there’s a career or future with the company. You should be specific in that plan, carving out a calculated time frame, such as, “If you do ‘this,’ in three months you’ll get a raise. If you do ‘this’ for six months, you’ll move up with a promotion.” Create a specific path and a scripted journey for them to take, so they know exactly what they must do and what it’s going to do for them. Bottom line: you have to stand out to potential employees and differentiate yourself from other employers.
When it comes to retainment, people crave teaching and training. For example, learning how to expertly assemble products or gaining in‑depth knowledge about the product they’re selling. If they don’t feel secure in their abilities, they’ll leave for another job. Employers must also reward and recognize employees for a job well done. With new perspectives and shifts in how people work since the pandemic, expect to create flexible schedules along with remote or hybrid work situations.
Employers must always assess their field’s current climate and staying relevant to what’s happening today. Don’t expect to attract employees the same way you did 10 years ago.
At T‑ROC, we hire 1,000 employees a month, so we have to be proficient at that. The biggest companies in the world have access to our people. So, how do we set ourselves apart from competitors? What’s unique about us is that we’re built upon entrepreneurship, and our company is filled with entrepreneurs who like to solve problems as well as be pioneers in what they do. If a potential employee wants to learn how build their own business, we’ll pay them to do that. If they have a side gig, like being an artist, instead of downplaying their other passion, we’ll celebrate them as an artist by paying them to paint a piece that will be displayed in our lobby.
In a world of competition, it comes down to standing out from others in your uniqueness as a company, as well as investing heavily in technology, insights, and quantitative systems. Think of it as the new laws of attraction in the current hiring atmosphere.