Attracting and retaining good talent is beneficial in more ways than one. They contribute greatly to a company’s success by improving efficiency, quality and productivity, contributing to higher profits and margins. Lower turnover rates also mean that businesses save substantially on time and money spent on interviewing, hiring and training new employees.
But how does a business go about attracting and retaining the best talent in the first place? Read on for some tips.
Good talent will naturally gravitate towards companies where they can contribute, learn and grow the most. In order to attract the best, businesses need to find ways to showcase the opportunities and rewards they offer. Such opportunities and rewards may include attractive monetary compensation, employee benefits that support work-life balance, a great office environment, an inclusive and supportive culture, growth opportunities, company values and best practices, and maybe even a chance for sponsored education.
Companies should avoid contrived PR and marketing tactics that only reflect poorly on their business. Instead, they should consider revamping the company website to ensure a great first-point experience for those who turn to the internet for information.
In the business world, you’re always meeting new people – whether in formal business settings or at informal events.
A lot of the time, these new contacts include talented individuals who would make great potential employees or working partners. However, you might not be actively looking to fill a position at that particular point in time.
To really capitalise on your networking efforts, it could be worthwhile investing in a good contact management solution such as Sansan, which allows you to easily consolidate and store business cards and contact information so that they may be retrieved easily and at any time.
This way, you can revisit your bank of contacts at regular intervals and touch base with valuable prospects. You’ll be able to act quickly on an opportunity and pick up the best talent when the occasion arrives.
Networking, advertising for vacancies and referrals – these are all common ways of seeking out good talent. Another way is through volunteering your own time and effort in the form of mentorship or internship programmes.
Involving yourself or your business in such programmes will provide you with a platform to interact with and groom young talent with huge potential – not to mention position your company as one that takes initiative in grooming the next generation of employees. It’s a win-win situation where you can help young talent progress in their career and get a great employee in return.
With these tips, you're ready to find – and retain – the best talent in town.