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Considering how competitive the job market is, attracting top talent to a company can be quite difficult. And even if a business manages to do that, there are no guarantees that a new employee will stay for long.
Trying to figure out a strategy to solve this issue is not straightforward. Hopefully, the ideas below will help.
8 Ideas to Attract and Retain Top Talent at Your Company
1. Company Swag
Let’s start with something quite simple. Company swag is a common method to make someone feel like they are part of the team, particularly when talking about newcomers.
From custom shirts and mugs to notebooks and pens, freebies might not feel like that big of a deal, but some people appreciate them a lot. Consider it a small investment that will hopefully help with attracting and retaining new employees.
2. Opportunities to Learn
Opportunities to learn are another big element that one should not underestimate. If someone gets stuck at their job with no prospects of moving up the ladder, then the odds are that this employee will not take too long to look for a job elsewhere.
These days, you can find plenty of different employee training programs. Again, these cost money, but if you are willing to invest in an employee by providing opportunities to learn, such a move will be appreciated and is bound to build loyalty.
3. Freedom to Choose Work Location
The recent covid-19 pandemic showed that more and more people prefer to be remote worker. Sure, some jobs are not possible unless you are on site, but when it comes to your usual office job, there is usually no need to be stuck in the office all the time.
Top talent understands that they have the upper hand, and for most companies, restricting work location would not be a wise move.
So long as an employee does their work properly, there really is no difference where they are working from, right?
4. Positive Company Culture
Positive company culture is hard to define, but it is easy to recognize a work environment that is great and a work environment that is toxic.
It starts from the bottom of the ladder and ends at the top. In other words, each layer of a company has to fit the necessary criteria to be considered positive.
For instance, if everyone but the boss is nice, it still leaves a lot to be desired. One chain is enough to make employees rethink.
Of course, the problem is figuring out how to get rid of toxicity in the workplace. It is not that simple, even if such a problem is visible to everyone.
Also, it is worth pointing out that hiding the truth is not really an approach these days. If a company’s culture is not positive, a potentially interested newcomer will find out about it. In the age of the internet, finding information is easy, especially in the job market where you have ex-employees sharing their experiences with others.
5. Team Building
Team building exercises are certainly not for everyone. It is important to identify if someone is against participating so that they are not forced.
Now overall, team building has its values, and potential talent could be interested in joining because they want to feel like they are part of the team.
Be it small get-togethers after work or participation in events as a company, both small and big team-building exercises provide participants with a sense of belonging, which, in turn, builds loyalty.
6. Vacation Days
Vacation days are tricky, but a company should treat its top talent as assets. One of the best ways to show appreciation is to provide them with extra vacation days. What is required by the law is one thing, but extra vacation days are appreciated a lot.
Some companies go as far as letting employees take Fridays off. Or, at least, take half a day off. Having more free time makes it easier to find a better work-life balance. And a happy employee is an employee who sticks by their company.
7. Regular Feedback and Recognition
Regular feedback and recognition among peers should also be part of the strategy for companies wishing to retain top talent.
The employee of the month concept has been around for years, and it is one of the best examples of recognition. A simple gesture can make a big difference.
For regular feedback, it might be hard for some employees to figure out how they are doing by themselves. So, a supervisor could come in and provide certain pointers that should translate into more motivation for the employee.
8. Competitive Environment
A competitive environment is the last idea to mention. It is easy to lose motivation when you are not really competing against something or someone.
For instance, a company could organize a monthly competition to see who makes the most sales, attracts the most customers, saves the most money, and so on. The winners are obviously rewarded, but the whole thing should be treated more as a means of motivation and a competitive environment that helps employees find more motivation and interest in their work.