How to Attract & Retain Talent
Ever since the Great Resignation of 2021, it's been evident that the way we think about hiring and retaining talent needs to change.
"You could call it the 'Great Reflection'," said Caitlin Duffy, Research Director at Gartner, as "the intent to leave or stay in a job is only one of the things that people are questioning as part of the larger human story we are living."
Employee satisfaction isn't one-sided, and just as important as wage is the well-being, sense of purpose, connections, and personal growth of individuals. But how do you provide that for your employees? Here, we’ll talk about five of the most important strategies to attract talent and retain happy employees.
Bring it to the table
Offering a good, competitive salary is the starting point, but is by no means the whole picture. Offering benefits and perks, whether it be retirement plans, health insurance, or career development, these benefits are often what makes your position stand out from the crowd. This improves the health, happiness, and job-satisfaction of your employees.
Look Outside the Box
There are only so many fish in the sea of one country, but when you expand your search to several countries, all the sudden you have a much larger selection to find the best talents for your company. Additionally, many countries have much lower costs of living than the U.S., so finding the best talent and keeping them satisfied with good compensation can be much more cost effective.
Hiring remote can expand your options to many highly talented individuals that can make a big improvement in performance. When looking to hire foreign, product talent agencies such as us at Talentvibe can help you easily find the best match for your needs.
Recognize Great Work
Making your employees feel appreciated is one of the best ways to improve job-satisfaction and talent retention. Remember to customize the recognition per person, as not everyone wants to be rewarded the same way. You can personalize rewards for each person based on what is the most incentivizing to them, and the bottom line is to ensure that they understand they’re appreciated.
Value Employee Lives
Each employee has their own busy life, and it’s important to show that you care about their life. Working flexibly with employee schedules and encouraging a great work-life balance is an important step to encourage the well-being of your team members.
Work, especially at startups, can often be stressful and fast-paced. It’s important to create an environment built on teamwork, positive reinforcement, and compassion. We’re all on the same team, so ensure employees don’t feel ashamed of setbacks or competitive with coworkers. Instead, support and build each other up.
Develop Excitement
We all know that after working somewhere for a long time, work can get repetitive and tedious, which is why it’s important to shake things up a little bit and find little ways to make everyday projects exciting and motivating. Even if the work itself isn’t the most engaging, emphasizing the development of skills throughout projects can make things much more rewarding for your team.
A Work Institute survey found that a lack of career development is the biggest reason employees quit their jobs, so retention requires continuous growth. Identifying goals to build toward, creating a mentorship program, and encouraging your employees to take on projects that develop their skills are all effective strategies to ensure growth, job-satisfaction, and higher productivity