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How to Attract Top Talent In 2022?

Employees' expectations have changed drastically over a couple of years. This change has led leaders to prioritize strategies to retain and attract talented people quickly effectively. COVID has transformed how organisations used to function. Many companies have incorporated a hybrid or work-from-home culture. This transition has left many employees feeling disconnected and looking for a deeper connection to their work. Today, many employees want to feel invested in the work they do. They also want to see that their company is invested in the same things they value and believe. This has made it more challenging to hire top talents for the company. However, by adopting these tips, employers can find talented candidates and make the hiring process more effective.

So, let's look at some strategies that will help employers fill more positions in the company, get talented candidates and decrease the time to hire.

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Significance of Attracting Top Talents to the Company

Employees of the company can either make or break the company. Most of the time, recruiters work towards the former. While finding a suitable candidate for a role, the recruiters look for the best people with relevant knowledge or work experience. Since hiring is an expensive and costly affair, they want people to stay for a more extended period. For making people stay, a company should make sure it provides a positive work environment. They should invest in their employee's mental and physical well-being. If they do so, happier employees with high work morale and a high employee retention rate. These happy employees would then help hire equally talented people for the company. They will also spread positive word of mouth, attracting more skilled people.

Latest stats on employee retention:

  • Human resource leaders admit employee burnout is sabotaging workforce retention. It handles 50% turnover. (SHRM)
  • 8 in 10 employees would seek a new job after 1 lousy day. (Addisongroup)
  • 70% of staff members would leave their current organisations for a job with one known for investing in employee development and learning. (Emplify)
  • 16% of GenZ and millennial employees have quit a job because they felt the technology provided by their employer was inadequate. (Zapier)
  • 80% of employees felt more engaged when their work was consistent with their organisation's core values and mission. (IBM)
  • On average, a higher retention rate can maximise a company's profits up to four times. (Legaljobs)
  • Companies with optional remote work have a 25% lower turnover. (Owllabs)
  • It takes two years for a replacement employee to reach the same level of productivity as the previous worker. (GoRemotely)
  • 32% of job seekers have left a job within 3 months due to the company culture. (GoRemotely)
  • Bad hiring decisions are responsible for up to 80% of employee turnover. (Whattobecome)
  • Employee recognition programs can reduce the turnover rate by up to 31%. (Workstars)
  • Highly engaged business units experience 59% less employee turnover. (Gallup)
  • Companies rated highly on "purposeful mission" saw 49% lower attrition. (LinkedIn)
 

Why should companies attract top talents?

Hiring qualified, talented people is a great way to increase a company's chance for growth and success. Therefore, recruiters are always on their toes to find the best person for a role because investing in those people pays off more than one way for the organisation. Here are some benefits of attracting top talents to the company:

Read the blog: How to hire candidates through job apps?
  • According to research done in 2015 to measure employee productivity concerning their perceived happiness levels, employees' happiness is significantly related to productivity. To put it simply, people are more productive when they are happy.
  • Companies with higher profitability tend to have people with higher satisfaction levels.
  • Highly qualified employees are eager to learn more and stay ahead of the game, giving companies a competitive edge.
  • Hiring employees is an expensive and time-consuming process. That's why recruiters can save a lot of money and time if they become proactive about employee retention and avoid turnover.
  • Lastly, viewing employees as assets, not workers, opens doors for the company that leads to bigger and better places. Attracting the right people is vital to a successful and profitable organisation.
 

How to Attract Top Talent to the Company?

Attracting top talents is nothing but profitable for an organisation in the long run. Let's look at some ways companies can attract these people:

Offer flexible workplaces and schedules:

Flexible workplaces and flexible schedules are some of the most prevalent workforce trends. Modern employees desire both of these because it allows them the freedom to work from anywhere and whenever they want. If a recruiter posts about a job, they should give out all the details regarding the location and working hours. If a job requires a person to work from the office, the description should communicate why. A company should also make sure that they provide their employees with all the necessary equipment and resources before joining the company.

Provide and communicate learning opportunities:

Top talents never stop learning and exploring new things. So, a recruiter must communicate and enable learning opportunities. Gaining an opportunity to learn new skills and gain knowledge is crucial for the company's employees. It is even profitable for the company as it leads to a decrease in employee turnover. It helps retain skilled employees, saving a lot of money and time.

Trending blog: If someone more qualified is hired, is it fair on the candidate that meets the requirement?

Create an employee referral program:

Asking the current employees to refer to great people is an easy and a great way to connect with talented people. The best part of the referral program is it is free of cost and delivers quick results. Some benefits of having a referral program in place are as follows:

  • Referred candidates have lower turnover rates
  • They are much better candidates
  • They help reduce a recruiter's time to hire
  • They are very cost-effective for sourcing

If a company decides to take advantage of a referral program, it must also make sure they incentivise its employees. These incentives can be monetary, fun gifts or some other benefits.

Networking at candidate-specific events:

Networking is a great way to find new people for the company. A hiring expert can go to local communities, conferences, industry-specific events or attend meetups. The chances of a recruiter meeting a talented candidate for a job role at their company is very high in these events. If people can relate to the company's work culture, they will love to come forward and apply there.

A recruiter can also join appropriate groups on Facebook and LinkedIn that fit their criteria. Joining them can help them tap a specific talent pool, producing excellent results.

Build an employer brand:

People prefer to work in a company that emanates better work culture. Therefore, companies must work on building a strong employer brand. Companies that do so compel top talents to work for them. Also, if a candidate resonates with a company's vision, they are bound to apply there.

Today, if people know what a business does and makes a difference from others, it makes it easy to source and attract suitable candidates. A company can use their website and LinkedIn pages to build their employer brand. For example, if a person says negatively about a company on their career section page, they might receive fewer applications than expected.

Retaining existing employees:

If a company has high turnover rates, that might leave them in a terrible position. When people leave a company more frequently, other candidates might be hesitant in applying and working there. They would think something is wrong with the company culture.

Therefore, a company's outreach strategy should focus on retaining existing employees. It should work on providing its employees with a positive work environment, hold regular meetings and recognize their efforts. Also, retaining employees will inevitably attract new talents.

 

Should companies have strategies to attract talented people?

Definitely! A company must have strategies in place to attract and retain top talents. These strategies save companies a lot of time and money. They help develop a positive work environment for the people that, in turn, increase employee wellbeing and retention. It also allows companies to work towards building a positive image of themselves. That attracts talented people as they want to work for a company having a clear mission, identity and tone of voice. Also, it would help them stand out from the competition.

 

Must read: Which are the top motivational drivers that attract top talents?

 
Conclusion

The recruitment industry has changed a lot over the last couple of years. So, if a company wants more people to work for them, they need to keep up with the changing times. If a company has a high employee turnover rate, that can affect its employee's morale and reputation. Hiring is a very costly affair for a company. So, when companies employ a strategy to make their employees happy and develop their skills, they tend to stay there. These employees further help the company hire more like-minded, talented people through a referral program. They understand their company's needs and work environment. So, if they like where they currently work, they will foster positive word of mouth. Thus, attracting more skilled people.

 

FAQs

What are the critical issues for startups in attracting and retaining talents?

The main problems startups face in attracting and retaining talents are:

  • They don't have prior hiring experience.
  • They have weak negotiation skills.
  • Don't have clarity about organisational culture.
  • They have inefficient assessment tools.
Can employee referral programs help in retaining and hiring top talents?

Yes. Employee referral programs are a great way to hire talented people quickly. A company's current employees know the company culture well, and that's why they refer someone who can adapt to it quickly.

Does the process of attracting talents go beyond the interview?

Yes. A company must have a good image and vision to attract talented people.

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One Comment

  1. Hi there to every one, the contents existing at this website are genuinely remarkable for people experience, well,
    keep up the good work fellows.

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