Did you know that unemployment rates in the UK are now at their lowest since the 1970s? This is obviously great news for the economy but presents a big challenge when it comes to hiring the best talent for your company. With the job market now being candidate-driven, finding the right people for your organisation can be harder than ever before.
We all know how important it is to have the best people working for you. With a talented and motivated team on board, your business stands the best chance of being successful. In that sense, employees are your most valuable asset, and care must be taken to recruit and retain them just as much as generating sales or managing finances.
So, are you doing all of the following?
Review your HR approach
A new recruitment drive is all very well but before you start thinking about hiring new employees, are you sure you’re doing everything you can for your internal staff retention and development? There’s little point hiring new people if they won’t stay with the business long enough for you to reap the benefits.
Business Coach and Online Educator Rob da Costa suggests the following talent retention incentives in one of his recent blog posts:
- A focus on education
- Salary increases based on merit
- Flexible working conditions
- Attractive benefits package
- Pointing out future possibilities
- Promoting from within
- Investing in quality managers
Take a look at your team and ask yourself how happy and engaged your workforce is. Are you training them, promoting them, rewarding them appropriately? Do you have a positive company culture? In a job seekers’ market, it’s not just job seekers who are being harder to please. Your existing staff may consider changing jobs if they feel more valued elsewhere.
Invest in your company culture
Company culture is a big and growing topic that you cannot afford to neglect. It’s a magic formula that goes like this: Get your business model and your internal culture right and you’ll be surprised just how quickly word gets around that your company is the place to be.
When your candidates, employees, customers and the public interact with your business, what’s their experience? The way your company is perceived hinges on its internal culture and how this is managed. Everything follows from here – from team engagement and productivity to employee happiness, staff retention, and business success.
Identifying and developing your company’s brand doesn’t have to be expensive, but it does have to be done. Here are four things you should be doing:
- Build authentic and meaningful recognition and reward into your company culture to meet your employees’ needs to be recognised for their efforts and achievements, and drive performance, staff retention and employee engagement.
- Build strong teams that collaborate eagerly, communicate openly, trust each other’s views and are motivated to engage in best performance. Team building shouldn’t be a one-off activity, day-to-day reinforcement may be needed to create a collaborative work culture.
- Build a flexible work environment, allowing and trusting your staff to choose when, where and how they work. This freedom coupled with personal accountability strengthens your work culture by encouraging happier, higher-performing teams.
- Create a caring culture that genuinely looks after its employees and goes beyond the norm. X, Y, Z generations want to know that you will look after their best interests and care for them, especially in their hour of need. Employees now prefer healthy food and access to help and advice over a beer fridge or pool table.
Recruit with precision and focus
If there are no internal candidates you can promote to the vacancy, outside recruitment is going to be your next step. Start with a clear job description and be focused on what exactly you are looking for in the right candidate, and what you are going to offer.
The customary ‘spray and pray’ efforts of yesteryear will no longer cut it in a job market where candidates can afford to be choosy. With so many other companies competing for the highest calibre candidates, your job advert needs to stand out for all the right reasons.
In order to reach the right people, you need to know where to find them. Social media platforms, such as LinkedIn, Twitter and Facebook, are an excellent place to start engaging with potential candidates. There are plenty of specialist organisations and software tools to help you with this. You could also partner with a recruitment consultant who will have the time and resources to dig deep into the job market on your behalf.
Ensure a positive candidate experience
Once you have shortlisted your best candidates for an interview, follow through with a carefully prepared and organised meeting. It’s amazing how many companies invest time and effort into recruiting candidates, yet blow their chances on the day. A good candidate will know if they’re being fobbed off with an ad hoc interview.
A negative candidate experience is unlikely to lead to the result you are seeking. Worse still, a disappointed candidate may share his experience on online platforms. Poor feedback may discourage others from joining your company and negatively impact on your brand.
According to recent figures, a positive experience will make the job candidate about 1/3 more likely to accept your job offer. You are selling your company, so you should put your best people in front of the candidates that you want to impress. Confident, ambitious job seekers will have plenty of other opportunities on the table, so do your best to woo them.
Written By Annie Button
Smart Recruit Online offers an award-winning talent attraction software that can streamline and revolutionise your recruitment. To find out what we can to for your recruitment strategy, book a demo by clicking here.