Attracting and Retaining Your Talent

It’s no secret that the key to any company’s success lies in the ability to maintain a committed and motivated workforce. With professional networking sites, such as LinkedIn, becoming the norm in recruitment strategies, it has become increasingly challenging to avoid turnover.

Here are some tips to help you in the areas of employee attraction and retention.

Attracting Talent

Fair compensation

One of the biggest mistakes an employer can make is to base their position’s salary on budget —not market rates. To ensure your pay rates are competitive within your market, consult IB International Employment Agency’s 2018 Compensation Guide. Don’t forget competitive compensation encompasses more than just the base salary! Make sure you offer a flexible benefits program so your employees can pick a plan that satisfies their individual needs.

Referral bonuses

Good people know good people! Why not capitalize on that? To supplement your recruitment efforts, try offering the incentive of a referral bonus to . A gift card, paid vacation day or cash bonus encourages employees to refer only the best candidates.

Your online reputation

With online search engines leaving little to the imagination, building a good company reputation is essential for your hiring process. Bad reviews, scandals, news stories and complaints can scare off that potential candidate before they even step foot through your door. Make sure you monitor your online reputation to ensure your talent pool isn’t being influenced.

Clear and Concise Job Descriptions

Making sure you have job specs in place that carefully detail the role and responsibilities of the position ensures that the potential candidate understands the role’s expectations from the get go. A detailed job description also allows the candidate you’re interviewing gage what they will be accountable for delivering and what how their performance will be measured.

Retaining your staff

Job Training

There is nothing more challenging than being thrown into a new position with little to no training. Regardless of what’s listed on that new employee’s resume, a new company brings new technologies, software and office practices. Providing a thorough training session for new hires will help instill confidence in their new role. Pressed on time? Consider curating a department manual. This can be used as a supplementary training aid, as well as a reference guide of expectations and proper procedures for the entire department.

Positive Work Culture

Spending 40-hours a week at work is taxing on even the best employee. Ensuring your employees have a great atmosphere to spend most of their waking hours demonstrates just how much you value them. Celebrating holidays, organizing luncheons and implementing casual dress days are just a few ways to develop a culture that keeps employees motivated.

Employee incentive programs

Incentive programs keep employees motivated. A common incentive is the profit sharing program.  This incentive allows an employee to be rewarded based on the company’s success. Working within a budget? Don’t be afraid to get creative! Try offering a paid lunch, a gift card for coffee or to the movies, and watch employee productivity increase!

Feedback

Every employee appreciates constructive feedback. Not only does it open a dialogue, it also confirms the employee’s value. Make sure to reward a job well done with special acknowledgement to not only keep employees motivated, but also boost job performance.

Development and growth opportunities

Professional development is a driving motivator to many employees. They want to be assured they are in a position that’s linked to growth opportunities. To assist employees with their professional development, hold annual or bi-annual reviews, set realistic career goals and create action plans. Finally, make sure employees are aware when an internal position is available to give them an opportunity to apply.

Work/Life balance

At the end of the day, work family is not real family. Employees have a life outside of their cubicle and it’s important to consider what you can do to better that life. With modern technology, it is becoming increasingly common for companies to implement flex hours, or virtual work options. These options give employees the flexibility to manage their personal life, while maintaining productivity in their professional one.

Looking to increase your success at attracting and retaining talent? IB International Employment Agency is here to help!

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