6 Ways to Invest in Talent After the Recruiting Process
Posted on April 13, 2017
There’s no question that the recruiting process requires a large investment in the talent companies are bringing to their organizations, but it’s far from foolproof. Even with a dedicated hiring manager, the best recruiting software money can buy, and a fastidious screening process, you can’t completely avoid turnover.
Beyond the initial recruiting phase, however, there are several more opportunities to invest in the new employees you’ve worked so hard to find, and hopefully provide incentive for them to stick around.
A lot of companies try attractive perks like free food, car washes, flexible hours, and dry cleaning services. In some cases, that appears to work. In other cases, gimmicks aren’t enough.
Many employees care more about the larger purpose they’re serving and the long-term investment you are making in their career, and they’re more likely to stay because of these reasons.
Here are six ways to invest in talent after the recruiting process:
1. Professional Development – The role an employer plays in professional development as it relates to new employees is critical. New employees are not yet aware of all the future career opportunities available to them within the company, nor do they know who key decision makers are, or the pace at which people are promoted. Work with them to develop an Individual development plan (IDP), and assign them to a mentor who can shape and guide them toward their career goals. Additionally, encourage lateral career moves within your company so that employees have the opportunity to round out and broaden their skill sets in preparation for promotions down the road.
2. Employee Well-being – A happy employee is a productive employee. This is the reason many companies invest in employee assistance programs (EAP). In order for people to perform at their best, their whole health needs to be in order, including mental health and personal life. EAP programs provide support as it relates to counseling for personal matters including relationships and finances, so your employees can come to work happier and ready to accomplish their goals.
3. Culture – We hear about the importance of workplace culture all the time, but what does a healthy, happy culture actually look like? There are several things employers can do to foster a positive culture. Schedule team-building activities to build camaraderie among co-workers, and consider hosting offsite workshops/training sessions to let teams bond and share ideas. Not all cultural improvements are social, however. Another key ingredient to a healthy culture is promoting employees from within. This is vital when it comes to retaining talent.
4. Recognition - It’s so simple, yet so important. The act of recognizing employees for a job well done, anniversaries, birthdays, or their years of service, is shown to improve the productivity of not only the employee, but their peers as well. Recognition shows employees that the company really does notice and care about them as people and about the work that they do. If you’re using the best payroll software for your needs, you may even be able to incorporate performance-based rewards into your regular pay schedule.
5. Lend Employees Out – This may seem like a strange thing to do, but it’s a win-win for everyone. Many employees are coming from varied or diverse backgrounds and are skilled at more than just the position they were hired for. Find out the complete skill sets and experiences of your employees and the areas where they are subject matter experts (SMEs), then allow a certain amount of time each week or month where employees are “lent” out to another department or team. This helps them to keep their skills sharp, while feeling useful in more than one way. It also gives hiring managers an opportunity to think about future positions where that person may be a fit.
6. Larger Purpose - One thing that employees highly value — especially those in the millennial demographic — is doing work that matters. Having a sense of purpose is important enough that people base their decision to join an organization based on how the work they will do makes a larger impact. Many companies say they operate with a higher sense of purpose, but that sentiment isn’t filtering down to their employees. One of the most important ways you can invest in your employees is to help them feel good about the work they do by making sure they understand the bigger picture of how they are a part of something valuable and important.
The recruiting process is only the first step you will take in investing in your employees. Their personal and professional development, your company culture and your larger purpose are all important ways that you can invest in your workforce long after hire dates.
Jessica Barrett Halcom is a writer for TechnologyAdvice.com, with specializations in human resources, healthcare, and transportation. She holds a bachelor’s degree from the University of Wisconsin, Green Bay and currently lives in Nashville, TN.