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RECRUITMENT / APR. 05, 2017
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5 Most Effective Strategies to Attract Talent

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Recruiting the best candidates is essential for all companies that are interested in growth. To attract talent, organisations need put in a lot of effort and offer more than just great pay or a gym membership; they need to offer an overall rewards package that will cater to the ever-changing needs of the labour market.

1. Pay Generously

Paying your team salaries that are above the industry standard can go a long way in creating a meaningful relationship that’s based on trust and respect.

Why Do It:

Reinforces a sense of value

Talented candidates look for environments where they can grow professionally, and to do that they need a place where they will be respected and valued. A great salary can be a testament to that.

Gives you a leg up over competition

Many employers think that they can get away with below the standard wages because they offer benefits, but the truth is that quality candidates will always be attracted towards employees that can pay their worth.

Helps motivate people

Paying employees generously means that you have a great retention strategy in place, this alone can help attract more quality candidates to join your company. It also motivates people to work harder and better.

What Other Companies Are Doing:

Amazon: With well over 200,000 employees and a reputation that other companies would die for. You would expect that compensations would meet the industry standard. But, in reality they far exceed it.

A.T Kennedy: With hundreds of thousands of consulting firms across the world, it can be hard for companies to attract talent. Chicago based A.T Kennedy, however, has found the key. It offers a competitive, above standard salary and this strategy has helped it expand to more than 3,600 people so far.

Tips:

  • Pay premiums for high leverage jobs: It makes sense that the more crucial a role is to the company and its development, the more money you should offer to attract the best of the best.
  • Hire truly talented people: It may seem obvious but if you are willing to pay a hefty price you need to ensure that you are getting your money’s worth.
  • Offer performance-based bonuses: Talented people are also eager to show what they can do. By promising them a bonus when they meet their goals you’re ensuring that your new employees will want to work hard.

2. Offer Perks and Benefits

To attract talent you need to be able to offer something different than the competition, and this means that you’ll need to go the extra mile and identify a few perks and benefits that will be valued by your target audience.

Why Do It:

Attract Millennials

As millennials are gradually taking over the labour market, it makes sense to focus your recruitment strategies on them. Especially, because they are more likely to meet your standards and possess qualities that you are looking for.

Allow You to Pay Less Than Your Competition

Although many companies are willing to pay generous salaries not all of them are able to do it. If you are in a position where you are struggling to meet industry standards you might want to consider throwing in a couple of perks. From covering commute costs to offering free food, many perks will make sense to your employees.

Attract the Best Candidates

Top-tier candidates will be looking for more than just a high compensation, they’ll be looking for a company that will give them that extra something which will help them decide. And this is why perks and benefits matter, because they can help quality candidates pull towards your company.

What Other Companies Are Doing:

Google: Google has made a name for itself as the best company to work for. It offers a wide array of perks ranging from free lunch and dinner, to free childcare and tuition reimbursement. It has also created an environment where people are not expected to sit on a desk from 9 to 5 to get their work done and this has helped the company attract the best talent in its sector.

Netflix: Netflix has made a point of not tracking employee hours but performance. As such, it offers unlimited leave, as well as one paid year of maternity leave.

Tips:

  • Understand what the employees want: Benefits are not to be offered just for the sake of offering benefits, rather they should be meaningful to employees, so talk to your team and ask them what they’d like and what they think would most likely attract talent.
  • Consider flexible work schedules: More and more companies are becoming open to the idea of remote working and flexible hours as studies have shown that these benefits can increase performance.
  • Ensure your benefits are consistent: It’s important for benefits to promote fairness and they need to be consistent. Don’t make exceptions and be very open about your benefits policies.

 

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3. Improve Your Employer Brand

Whether they are aware of it or not all companies have an employer brand. Essentially, it’s what makes company A different to company B when they are both in the same sector and in the same line of business and it’s addressed to prospective and existing employees.

Why Do It:

Helps You Build Credibility

Much like a good branding strategy will help companies sell their individual products with less effort, a great employer brand will help you attract talent without putting a lot of effort into your recruitment strategy. People trust brands that are credible and if you’ve made a name for yourself as a great employer then you’ll be able to lure in talent.

Makes Company Stand Out

In industries where competition for the best candidates is fierce, it’s important to help your company stand out, and this is why investing in your employer brand makes sense. It will help you rank against other companies in your industry that might have a bigger or a better portfolio.

Helps Speed Up the Hiring Process

Hiring is becoming increasingly difficult as most companies are now after highly-skilled and high-performing professionals. This is delaying the process of hiring which can hurt companies in a number of different ways. But, having a great employer brand in place can speed things up as the majority of candidates would choose a company with a great reputation.

What Other Companies Are Doing:

Shopify: Shopify’s employer brand focuses on transmitting the values the company stands for. As they are dedicated to changing the face of retail they are proud to share this value with new employees. This is extremely beneficial as millennials are interested in doing meaningful work and as such getting them excited about being part of this process will inevitably bring in talent.

L’Oreal: L’Oreal has been awarded many times for its company culture, and it has been voted one of the best places to work more than once. Their employer brand focuses on transmitting their company values, while they have also managed to create a an inspiring workplace.

Tips:

  • Promote company values through employer brand: Jobseekers will actively seek your brand if they agree with the values you are promoting, as such you need to promote the same set of values through your employer brand that you are focusing on in your marketing strategy.
  • Use employee stories: Much like testimonials and customer reviews, there’s a lot to be gained from employee stories. Make sure to include employee testimonials on your website and social media.
  • Make sure every candidate receives a positive impression: It’s important to focus on maintaining a positive image even on people you are not going to hire as this helps build up your reputation. Spend the time needed giving feedback after interviews, etc.

4. Develop a Positive Organisational Culture

A great organisational culture helps people feel more motivated in the workplace which can help increase performance. What’s more a positive organisational culture can help bring in talent, so it’s the responsibility of every HR department to establish strategies and policies that will help develop this type of culture within the organisation.

Why Do It:

Helps Bring In Talent

To attract talent you need a positive organisational culture that embraces creative and innovative work. Professionals are always interested in joining companies that are open to new ideas and as such, you need to create a space where ideas are shared openly.

It Helps Boost Your Employer Brand

It’s worth mentioning that a positive organisational culture will go a long way to helping your employer brand. It will help build up your reputation, and it’s what will help you win awards and boost performance.

What Other Companies Are Doing:

Twitter: As one of the companies with the best company cultures, what Twitter has done is to invest in a very team-oriented workplace. Ideas are shared freely, while each employee is motivated on a personal level.

Facebook: Facebook boasts one of the best organisational cultures in the world as it focuses on personal growth. The work environment is pleasantly competitive which pushes individuals to reach the maximum of their abilities.

Tips:

  • Invest in communication: The most effective way to create a positive organisational culture is by establishing open communication channels within the company. There are a number of ways to achieve that but perhaps the place to start is by ensuring that people feel valued and respected.
  • Avoid micromanaging: If there’s one thing that can kill culture is micromanaging, and this is why you need to avoid it by all means. Ensure that there’s a clear structure of how things work and make sure that no one can cross those boundaries.

5. Tailor Your Recruiting Strategy to Your Audience

To make your recruitment process as successful as possible, you need to tailor it to the audience you want to attract.

Why Do It:

Beneficial to the Recruitment Process

By using the right channels and language, you can target the right candidates. This will make the process run smoother and it will also be less time consuming and draining than having to look through hundreds of generic candidate profiles.

Helps Ensure Success

Each new hire is a risk. As you’ve never worked with someone before you can’t be certain of what they’ll be like, which is why it makes sense to start on the right foot and target candidates that are suitable.

What Other Companies Are Doing:

UPS: UPS has been one of the leading companies to shift their recruitment focus to social media. This has helped the organisation meet its recruitment goals time and again, while the company is willing to invest in very specific strategies that can help cover their recruitment needs.

For example, to meet their diversity hiring goals, they created a video which highlights different women in different company roles.

How to Do It

  • Understand what drives your audience: If you are looking to attract talent you need to understand what motivates them so start by figuring out what might make them excited about the position.
  • Consider headhunting: This strategy allows you to target candidates whom you already know that can get the work done.

 

It’s important to understand that a powerful recruitment strategy is a multifaceted process that involves finding ways to attract talent, as well as ways to approach it. Relying on a single strategy to attract talent will likely get you nowhere so invest in identifying a process that will help you successfully locate top talent.

Keep in mind that writing an attractive job description is also crucial to the process. Do you have any other tips to successfully attract talent?

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