By: Bill Neese, Vice President of Talent Acquisition at Paycor
Unemployment rates across the country have hit an all-time low, and employers are fighting tooth and nail to both find and retain really good employees. But the struggle is real. Competition for great talent is fierce, and if you’re not pulling out all the stops to attract great performers and make them feel valued, your competition is passing you by.
Ten tips to help your company stand out
- Establish a Hiring Process
Recruiting is really an investment strategy for your organization, so don’t take it lightly. For starters you’ll want to make the process repeatable and easy to replicate. Document the hiring process you think works best for your organization. You’ll know you have the right hiring process when candidates are easily identified, you can uncover applicants’ behaviors during interviews, references are a breeze to check and offering the job becomes turnkey.
- Create a Culture People Would Leave a High Paying Job for
One of the best ways to do this is to have a solid and generationally-inclusive benefits package. Don’t believe us? According to Yoh, 50% of employed Americans would leave their current job for better benefits. Remember, with 5 different generations now mixed in the workplace, a blanket of benefits won’t cut it. These benefits don’t have to set you back financially, but they do need to be unique and attractive. Some examples might include pet insurance, monthly team outings, free pints of ice cream on Fridays or unlimited paid time off. Unlimited PTO? Studies have shown that employees with unlimited PTO are less likely to take time off. This is due to the fact that there is no ‘use it or lose it’ policy that forces them to use their time off.
- Know Where to Look for Great Talent
If you struggle with high turnover or are looking for better candidates, consider partnering with a human capital management (HCM) provider. HCMs provide a plethora of solutions, including applicant tracking systems that include seamless integrations with job boards, social media, assessments and background screenings. These types of solutions help you find great talent and give you back time so you can focus on other strategic projects for your organization.
- Know What Candidates Want
Candidates today are not interested in long job postings. If it takes longer than 10 minutes to complete an online application, you’re missing out on 50% of qualified applicants. And if your application process is too complex, candidates will simply move on to the next opportunity.
- Boast about your Company
Remember that you’re not just casting out job postings and waiting for a bite, you’re actively competing with companies around the globe. Let candidates know how great your organization is and why so many people have chosen to work there. This is your chance to shine a light on your company culture and why it makes your organization stand above the crowd. Do you have company happy hours? Unique team events? Show candidates that your posting is more than a job; it has the potential to be a career they will love.
- Find Employees that Fit
When you find people that understand your culture and want to be part of an active and engaging workplace, they’ll be happier and so will you. Experience and background are key indicators, but consider using hiring assessments to help determine culture fit. Don’t use this as a standalone measurement, but as a guide for helping ensure that your next hire can seamlessly transition into your organization.
- Start off on the Right Foot with an Efficient New Hire Process
If you don’t have an engaging onboarding process, you run the risk of losing talented candidates right from the start. According to Work Institute, nearly 40% of employees who left a job did so within the initial 12 months. Many new hires jump ship because of a poor onboarding experience and lack of clarity surrounding job duties and expectations. Introducing them to colleagues, enrolling them in training programs and defining goals early on will increase their chances of contributing right away while enhancing their level of engagement.
- Survey Employees Early and Often
Employee engagement surveys are critical tools to help assess the overall health of your workforce. But before you conduct the employee engagement survey on your own, think twice. Employees will likely refrain from sharing honest feedback if the responses are being directly submitted to your organization. Partnering with a 3rd party provider that gathers anonymous feedback will help employees feel more inclined to share honest feedback.
- Enhance Your Performance Review Process
Performance management is changing. Gone are the days of yearly assessments. Instead, organizations are offering their employees more frequent opportunities to discuss performance, objectives, problem areas and career development. The right HR technology can offer fully-customizable reviews, peer-to-peer feedback and goal tracking. By detailing performance and capturing the reviews in one system, organizations have a complete record of employee performance that they can rely on when looking at promotion opportunities or succession planning.
- Celebrate Your People
Money and extra perks are important and help boost morale, but employees love to be recognized and want to know their hard work is appreciated. In fact, employees who receive positive praise are seven times more likely to stay with the company and eleven times more likely to feel completely committed to the company. Employee recognition can be as simple as celebrating a personal or professional milestone or showing appreciation for their effort and hard work. It doesn’t have to be an elaborate or expensive celebration but showing you care can go a long way.