In this strong US economy, employee acquisition and retention have become some of the biggest challenges for small businesses and major companies alike. According to one survey, 23% of senior managers believed they need to improve their employee acquisition strategies.
Labor quality trumps quantity everyday. Finding that diamond in the rough in any industry is rare enough, without recruiters incessantly trying to steal them right underneath your nose.
Even more difficult than attracting talent is retaining it. According to the US Labor and Bureau Statistics, 18-35 year old typically remain at a job for 1.6 years. With the desire to travel and their fairly scatterbrained career choices, it’s hard to retain high level, young talent at any organization.
But what if we used our own marketing strategies to not only attract talent, but retain it? Here’s five ideas we’ve come up with.
Research and More Research
When conducting market research, look toward your competition. Here, you’ll find out acquisition and retention strategies they are actively leveraging to steal away high level talent.
During your market research, look at the companies and fields that individuals are applying for. This will give you some sort of idea whether this person will be interested in your business and industry.
It’s important to note that some people just aren’t right for your company. Before even performing the interview process, use your demographic and psychographic research to find out if they fit into your company culture and whether you can offer them the opportunities they are searching for.
Always seek to gather feedback from former employees to find out what strategies do and don’t work. Honestly, transparency is a major consideration for many employees as people generally distrust major brands and corporate bureaucratic structures.
Be transparent during your the interview and recruitment process. Set appropriate expectations so that you don’t end up losing employees before they even make it in for training day.
Present them with a clear transformation plan and how you help your employees succeed and advance at your organization.
Recruitment and Engagement are Not Mutually Exclusive
Making the transition from recruitment to employment should be as smooth as possible. HR leaders and recruiters need to coordinate on strategies to keep employees engaged after hire and ensure that appropriate expectations are met. Continued education, training, and mentorship are always good ways to get new employees acclimated and ready to be their best.
Use Your Brand to Your Advantage
I’m sure we’ve all filled out a resume to a company we knew would not hire us. For me it was IBM, but I’m sure for a lot of us it was Apple or Microsoft. What could be better than buying from your favorite brand then working for them?
Branding is a great marketing strategy for attracting high level talent who want to work for established and megalithic brands.
Your brand is your reputation and the message you want to show the world. Use this to your advantage when recruiting high level talent and let them know your goals and values as an organization upfront. Make sure these values match the values of on boarded employees and that these values extend to how you reward your own employees at your organization.
Offer Perks and Incentives
Finally, one of the most important perks that employees search for is a good benefits package. Offer benefits that beat the competition and enable employees to sustain their lifestyle. Other employee perks, such as vacation time, relaxation rooms, and paid family leave serve as good pulls for the acquisition process, as well as a good reason to stay with an organization. You may also want to consider incentivizing top talent with continuing education. For instance, over the last 17 years I’ve sent over 30 of my top leaders to Tony Robbin’s “Unleash the Power Within,” which was not only motivating, but provided specific tools and tips on time management, leadership, and personal motivation. Investing in unique incentives is a great way to standout from the competition.