The Talent War: How to Leverage Your Best Employees to Help You Win the Best Talent
The talent war is fought on two fronts, attraction and retention. You have to attack both at the same time if you plan on getting the talented professionals your competition wants so badly. If you want your company to grow and succeed, you need to attract the talent that best fits into your culture and then retain them by keeping the talent happy and satisfied in their roles. It’s a simple concept to understand, but it is much harder to actually accomplish.
Here are the top three aspects that are crucial in talent attraction and employee retention.
#1 - Create a “People-Focused” Culture
Employee attraction and retention begins with your company culture. In order to attract top talent, you need to be genuine about who you are as a company and then use that authenticity as a tool to find prospective employees who fit into your company’s overall goals and vision.
Company culture is simply the promises we make about how we’re going to treat each other. A great company culture happens when a “People-Focused” attitude is prevalent, specifically, when your values as a company align with how people are actually treating each other on a day-to-day basis.
Here are a few insights about how to ensure your culture is “People-Focused:”
Survival of the (Cultural) Fittest - Use the hiring process as a vetting tool to find the right talent for your company. Think of it as your first and last line of defense. Also, keep the mantra, “Slow to Hire, Quick to Fire” in mind when searching for the right employee. Remember, you are trying to find the best fit, so take your time when recruiting the best talent. Focus more on the cultural fit of the prospective employee, rather than the skills that can be taught.
Make sure your interview process focuses on culture. Ask prospective employees to tell you specific stories about times they’ve lived their values at work, and make sure their values align with the company’s values as well.
Set Employees Up for Success - No matter how talented a candidate may be, he/she may be unlikely to succeed without feeling fulfilled and happy in the position. Take the time to select the best candidates that fit within your company culture and can immediately be set-up for success, and then be sure to act quickly when you see that an employee may not be a good fit.
Your Onboarding process should consider how to set your employees up with the resources they need from the time you write the job description through the first 2 years of the job. Use a buddy system that pairs committed, long-term employees with new hires to make sure they have everything they need even when you are not there.
#2 - Use Feedback to Improve & Attract the Right People
Top talent will be looking for the right company fit - they are just as focused on cultural fit as you should be! Show them who you are as a company, and show them the impact you are hoping to make on the world by living your values through the entire recruitment process and beyond. The best way to ensure authenticity is to use data to confirm that your current employees are happy, satisfied and living the company values consistently.
As an applicant, you should care about the overall contentment of a company’s employees. As an employer, there’s nothing more valuable than fulfilled, connected employees - your customers will be able to feel it in every interaction! Data can make sure you are on track, and it can also identify where you need to improve - both for your current and prospective employees.
Below you will find a few ways data can help you improve your company and attract the right people:
Provide an Annual Feedback Opportunity & Listen to What Your Employees Are Saying - Current employees feel more valued when you ask them how they’re doing and what they need; however, they feel pleased and gratified when you deliver on it. There’s nothing more powerful than demonstrating your commitment to employees by being responsive to their needs.
The gold standard is to survey your employees once a year and build a proven track record of responding meaningfully to their feedback. Use a combination of quantitative (surveys) and qualitative (focus groups, interviews, and discussions) to ensure you are hearing your employees loud and clear.
Use the Feedback Process to Build a Cultural Ambassador Program - Prospective employees care about what your current employees think. A referral from a current employee can be a game changer in the recruitment process. Use the feedback process to identify possible company ambassadors, and then give your recruits an opportunity to interact with them.
Feedback does not always have to be about changes to be made. It can also give your happiest employees the opportunity to tell you why and how you are doing a great job. Build a win-win partnership by giving these employees a platform to tell everyone why they love working at your company. It can be a powerful way to find more connected, culturally-aligned people like them.
#3 Retaining Employees with Appreciation & Buy-In
Finding the right talent is only half the battle. To ensure that employees stay for as long as possible, companies must work to keep their staff happy and satisfied. This requires having a strong vision, positive values, and clear, impactful goals and then incentivizing your aligned behaviors.
Having employees who consistently reinforce your company’s vision and purpose will serve to enhance new recruits’ loyalty. Just like when attracting employees, it is important to be authentic in communicating the company’s purpose, so be sure to focus on goals that are attainable and show progression toward those goals.
Of course, having a purpose, as well as clear goals, can motivate people to a degree, but paying their bills will always be a top priority. Offering competitive wages and incentive structures will motivate your employees to work toward company goals and remain loyal.
Similarly, offering room for promotions provides a greater incentive to stay with a company. Make sure these advancement opportunities are transparent and explicit so employees realize their potential for professional growth within your company.
Here are a few ways to make sure you are retaining the high-quality candidates you recruit with appreciation & buy-in:
Reward, Recognize, Celebrate (and Occasionally Fire) Based on the Company’s Values - As we mentioned before, current and prospective employees alike will be able to tell if you are living your vision and values. It is always important to have processes in place that help your employees know what to do and what not to do. Using your recognition and rewards programs to encourage culturally aligned behavior is an effective way to provide those guard rails.
Give your employees the opportunity to connect with the company’s values by hosting a workshop. Allow them to talk about how they live their own values and why that matters to them at work. Then, ensure your touch base and review processes use values as a way to identify opportunities to reward and, when necessary, provide corrective feedback.
Incentivize Referrals from Current Employees - You can find numerous resources online where employees rate workplaces, which provide notable impact for job searchers. Also, your employees can sometimes relish the opportunity to help build their work environment and bring in people they like and trust. Give them the opportunity to take initiative and act as recruiters. This can be accomplished through promotion and referral programs that create buzz for the business and give your employees some influence over their day-to-day work experience.
There are many different kinds of rewards that can be used as great incentives - gift cards, pizza parties, and bonuses for example. These rewards can help to motivate your employees to invite talented people they know to work with you. Use data and feedback (surveys, conversations, and more) to understand what type of recognition your team would appreciate most.
Winning the Talent War
Maximizing employee satisfaction by attracting and retaining employees is essential if you want your business to succeed. With help from PATH, you can take your company culture and employee happiness to the next level. Our experts have the know-how and experience to grow your business, and you will be treated like a partner rather than a client.