Hiring Starts at Retention
Hiring will be a challenge for business leaders indefinitely, regardless of what the economy does. With the job market tipped in favor of the employee, every worker is looking to "upgrade," whether they are in pursuit of a better title, a higher salary, or a more optimal work schedule. Across the board, working individuals are seeking improved pay and benefits, greater flexibility, and better work dynamics. Following are four tried-and-true ways, beyond salary, leaders can refine their approach to hiring.
Hiring starts with retention
Retention remains the single most important metric for business leaders, as well as the area that they have the most control over. In a labor shortage, losing high-performing, productive employees who already fit into an organization's culture is truly devastating. Increasing retention can begin with adjusting internal salary bands and creating a fair, equitable, and transparent culture around pay. This ensures existing talent is valued equally to new hires and allows employees to "upgrade" without having to look elsewhere.
Treat employees like customers
By looking at employees as customers, organizations can attract talent, rather than recruiting on a case-by-case basis. This requires investing in training for best-in-class "customer-support" and "sales" teams (frontline bosses and hiring managers). It also means implementing marketing tactics at every step of the employee life cycle, from first interaction to making an offer to eliminating post-purchase dissonance and reinforcing culture, and even after someone ultimately decides to leave the organization.
Redefine traditional
To keep a competitive edge, business leaders must embrace the new reality of what the workplace looks like. today's leaders are tasked with providing flexibility and choice, while still maintaining responsibility and accountability. By opening direct channels for communications and empowering frontline managers to make decisions that work best for their specific departments' and direct reports' needs, within a certain set of guidelines and objectives, organizations can begin to determine the right mix for their specific needs.
Culture remains king
Culture remains a crucial component of the hiring and retention process and, importantly, employees' ability to feel connected to their work. People want to feel like they contribute to a greater cause and see value in the tasks they do each day. Because of its importance, culture should be evident from day one, and the onboarding process should be carefully honed to ensure a positive kickoff that sets employees up for success.
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